{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-2511.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-2511.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-2511.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-2511.html"}],"law_id":84201,"edition_id":1,"section_id":84201,"structure_id":16213,"section_number":"38.2-2511","catch_line":"How license obtained","history":"Code 1950, \u00a7 38-524; 1952, c. 317, \u00a7 38.1-668; 1986, c. 562.","full_text":"The applicant insurer shall file with and have approved by the Commission its application for the license required by \u00a7 38.2-1024 prior to transacting the business of insurance in this Commonwealth. The Commission shall not grant a license to any insurer until it is satisfied that the insurer has complied with the requirements of \u00a7 38.2-1024 and has filed with the Commission a statement signed by its president and secretary or two of its directors subject to \u00a7 38.2-1304, setting forth:\n\n1\n\nThat the corporation holds bona fide applications for insurance of the classes proposed to be issued from 100 or more persons who own property insurable by the insurer under the provisions of this chapter and who desire to become members of the insurer;2\n\nThe names of the proposed members and the amount of insurance subscribed for by each;3\n\nA statement that the insurer has received from each proposed member the initial fees and assessments required for the insurance requested;4\n\nThe names and addresses of the officers and directors of the insurer;5\n\nThe location of the insurer’s principal office in this Commonwealth;6\n\nThe classes of insurance proposed to be written; and7\n\nThe territory within which the insurer proposes to transact insurance.","order_by":null,"text":{"0":{"id":301779,"text":"The applicant insurer shall file with and have approved by the Commission its application for the license required by \u00a7 38.2-1024 prior to transacting the business of insurance in this Commonwealth. The Commission shall not grant a license to any insurer until it is satisfied that the insurer has complied with the requirements of \u00a7 38.2-1024 and has filed with the Commission a statement signed by its president and secretary or two of its directors subject to \u00a7 38.2-1304, setting forth:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":301780,"text":"That the corporation holds bona fide applications for insurance of the classes proposed to be issued from 100 or more persons who own property insurable by the insurer under the provisions of this chapter and who desire to become members of the insurer;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":301781,"text":"The names of the proposed members and the amount of insurance subscribed for by each;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":301782,"text":"A statement that the insurer has received from each proposed member the initial fees and assessments required for the insurance requested;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":301783,"text":"The names and addresses of the officers and directors of the insurer;","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":301784,"text":"The location of the insurer’s principal office in this Commonwealth;","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":301785,"text":"The classes of insurance proposed to be written; and","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":301786,"text":"The territory within which the insurer proposes to transact insurance.","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6"}},"ancestry":[{"id":16213,"edition_id":1,"name":"Organization and Licensing of Insurers","identifier":"2","label":"article","depth":3,"order_by":1,"parent_id":13766,"metadata":{},"date_created":"2026-06-26 04:09:23","date_modified":"2026-06-26 04:09:23","permalink":{"id":213847,"object_type":"structure","relational_id":16213,"identifier":"2","token":"38.2\/25\/2","url":"\/38.2\/25\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13766,"edition_id":1,"name":"Mutual Assessment Property and Casualty Insurers","identifier":"25","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:45:49","date_modified":"2026-06-26 03:45:49","permalink":{"id":213811,"object_type":"structure","relational_id":13766,"identifier":"25","token":"38.2\/25","url":"\/38.2\/25\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12698,"edition_id":1,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":210661,"object_type":"structure","relational_id":12698,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":71639,"structure_id":16213,"section_number":"38.2-2508","catch_line":"Incorporation of insurers","url":"\/38.2-2508\/","token":"38.2\/25\/2\/38.2-2508","metadata":false},{"id":81868,"structure_id":16213,"section_number":"38.2-2509","catch_line":"Directors; terms; annual meetings; voting; executive committee","url":"\/38.2-2509\/","token":"38.2\/25\/2\/38.2-2509","metadata":false},{"id":64940,"structure_id":16213,"section_number":"38.2-2510","catch_line":"Officers","url":"\/38.2-2510\/","token":"38.2\/25\/2\/38.2-2510","metadata":false},{"id":84201,"structure_id":16213,"section_number":"38.2-2511","catch_line":"How license obtained","url":"\/38.2-2511\/","token":"38.2\/25\/2\/38.2-2511","metadata":false}],"previous_section":{"id":64940,"structure_id":16213,"section_number":"38.2-2510","catch_line":"Officers","url":"\/38.2-2510\/","token":"38.2\/25\/2\/38.2-2510","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-2511\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1952, chapter 317; in 1986, chapter 562.<\/p>","references":false,"refers_to":[{"id":86158,"section_number":"38.2-1024","catch_line":"License required to transact the business of insurance; application fee requirements for license","order_by":null,"url":"\/38.2-1024\/"},{"id":79510,"section_number":"38.2-1304","catch_line":"False statements, reports, etc., deemed a Class 5 felony","order_by":null,"url":"\/38.2-1304\/"}],"permalink":{"id":213861,"object_type":"law","relational_id":84201,"identifier":"38.2-2511","token":"38.2\/25\/2\/38.2-2511","url":"\/38.2-2511\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-2511\/","token":"38.2\/25\/2\/38.2-2511","dublin_core":{"Title":"How license obtained","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-2511","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The applicant insurer<\/span> shall file with and have approved by the Commission<\/span> its application for the license required by \u00a7 38.2-1024<\/a> prior to transacting the business of insurance<\/span> in this Commonwealth. The Commission<\/span> shall not grant a license to any insurer<\/span> until it is satisfied that the insurer<\/span> has complied with the requirements of \u00a7 38.2-1024<\/a> and has filed with the Commission<\/span> a statement signed by its president and secretary or two of its directors subject to \u00a7 38.2-1304<\/a>, setting forth:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> That the corporation holds bona fide applications for insurance<\/span> of the classes proposed to be issued from 100 or more persons<\/span> who own property insurable by the insurer<\/span> under the provisions of this chapter and who desire to become members of the insurer<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The names of the proposed members and the amount of insurance<\/span> subscribed for by each; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> A statement that the insurer<\/span> has received from each proposed member the initial fees and assessments required for the insurance<\/span> requested; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> The names and addresses of the officers and directors of the insurer<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> The location of the insurer<\/span>’s principal office in this Commonwealth; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> The classes of insurance<\/span> proposed to be written; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> The territory within which the insurer<\/span> proposes to transact insurance<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nHOW LICENSE OBTAINED (\u00a7 38.2-2511)\n\nThe applicant insurer shall file with and have approved by the Commission its\napplication for the license required by \u00a7 38.2-1024 prior to transacting the\nbusiness of insurance in this Commonwealth. The Commission shall not grant a\nlicense to any insurer until it is satisfied that the insurer has complied with\nthe requirements of \u00a7 38.2-1024 and has filed with the Commission a statement\nsigned by its president and secretary or two of its directors subject to \u00a7\n38.2-1304, setting forth:\n\n1. That the corporation holds bona fide applications for insurance of the\nclasses proposed to be issued from 100 or more persons who own property\ninsurable by the insurer under the provisions of this chapter and who desire to\nbecome members of the insurer;\n\n2. The names of the proposed members and the amount of insurance subscribed for\nby each;\n\n3. A statement that the insurer has received from each proposed member the\ninitial fees and assessments required for the insurance requested;\n\n4. The names and addresses of the officers and directors of the insurer;\n\n5. The location of the insurer’s principal office in this Commonwealth;\n\n6. The classes of insurance proposed to be written; and\n\n7. The territory within which the insurer proposes to transact insurance.\n\nHISTORY: Code 1950, \u00a7 38-524; 1952, c. 317, \u00a7 38.1-668; 1986, c. 562.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}