{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-4234.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-4234.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-4234.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-4234.html"}],"law_id":72404,"edition_id":1,"section_id":72404,"structure_id":15019,"section_number":"38.2-4234","catch_line":"Examinations","history":"1989, c. 606; 1992, c. 588.","full_text":"A\n\nIn addition to the powers the Commission has under Article 4 of Chapter 13 (§ 38.2-1317 et seq.) of this title, the Commission shall also have the power to order any nonstock corporation registered under § 38.2-4231 to produce any records, books, or other information papers in the possession of the nonstock corporation or its affiliates necessary to determine the financial condition or legality of conduct of the nonstock corporation. If the nonstock corporation fails to comply with the order, the Commission shall have the power to examine its affiliates to obtain the information.B\n\nThe Commission shall exercise its power under subsection A of this section only if the examination of the nonstock corporation under Article 4 of Chapter 13 (§ 38.2-1317 et seq.) of this title is inadequate or the interests of the subscribers of the nonstock corporation may be adversely affected.C\n\nThe Commission may retain at the expense of the registered nonstock corporation any attorneys, actuaries, accountants and other experts reasonably necessary to assist in the conduct of the examination under subsection A of this section. Any persons so retained shall be under the direction and control of the Commission and shall act in a purely advisory capacity.D\n\nEach nonstock corporation producing books and papers for examination records pursuant to subsection A of this section shall be liable for and shall pay the expense of the examination in accordance with the provisions of Article 4 of Chapter 13 (§ 38.2-1317 et seq.) of this title.","order_by":null,"text":{"0":{"id":260798,"text":"In addition to the powers the Commission has under Article 4 of Chapter 13 (§ 38.2-1317 et seq.) of this title, the Commission shall also have the power to order any nonstock corporation registered under § 38.2-4231 to produce any records, books, or other information papers in the possession of the nonstock corporation or its affiliates necessary to determine the financial condition or legality of conduct of the nonstock corporation. If the nonstock corporation fails to comply with the order, the Commission shall have the power to examine its affiliates to obtain the information.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":260799,"text":"The Commission shall exercise its power under subsection A of this section only if the examination of the nonstock corporation under Article 4 of Chapter 13 (§ 38.2-1317 et seq.) of this title is inadequate or the interests of the subscribers of the nonstock corporation may be adversely affected.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":260800,"text":"The Commission may retain at the expense of the registered nonstock corporation any attorneys, actuaries, accountants and other experts reasonably necessary to assist in the conduct of the examination under subsection A of this section. Any persons so retained shall be under the direction and control of the Commission and shall act in a purely advisory capacity.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":260801,"text":"Each nonstock corporation producing books and papers for examination records pursuant to subsection A of this section shall be liable for and shall pay the expense of the examination in accordance with the provisions of Article 4 of Chapter 13 (§ 38.2-1317 et seq.) of this title.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":15019,"edition_id":1,"name":"Holding Companies","identifier":"2","label":"article","depth":3,"order_by":1,"parent_id":12967,"metadata":{},"date_created":"2026-06-26 03:51:33","date_modified":"2026-06-26 03:51:33","permalink":{"id":216809,"object_type":"structure","relational_id":15019,"identifier":"2","token":"38.2\/42\/2","url":"\/38.2\/42\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12967,"edition_id":1,"name":"Health Services Plans","identifier":"42","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:44:05","date_modified":"2026-06-26 03:44:05","permalink":{"id":216657,"object_type":"structure","relational_id":12967,"identifier":"42","token":"38.2\/42","url":"\/38.2\/42\/","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":57275,"structure_id":15019,"section_number":"38.2-4230","catch_line":"Definitions","url":"\/38.2-4230\/","token":"38.2\/42\/2\/38.2-4230","metadata":false},{"id":73870,"structure_id":15019,"section_number":"38.2-4231","catch_line":"Registration of nonstock corporations that are members of holding company system","url":"\/38.2-4231\/","token":"38.2\/42\/2\/38.2-4231","metadata":false},{"id":72616,"structure_id":15019,"section_number":"38.2-4232","catch_line":"Standards for transactions with affiliates; adequacy of surplus; dividends and other distributions","url":"\/38.2-4232\/","token":"38.2\/42\/2\/38.2-4232","metadata":false},{"id":76421,"structure_id":15019,"section_number":"38.2-4233","catch_line":"Commission approval required for certain transactions","url":"\/38.2-4233\/","token":"38.2\/42\/2\/38.2-4233","metadata":false},{"id":72404,"structure_id":15019,"section_number":"38.2-4234","catch_line":"Examinations","url":"\/38.2-4234\/","token":"38.2\/42\/2\/38.2-4234","metadata":false},{"id":73864,"structure_id":15019,"section_number":"38.2-4235","catch_line":"Confidential treatment of information and documents","url":"\/38.2-4235\/","token":"38.2\/42\/2\/38.2-4235","metadata":false}],"previous_section":{"id":76421,"structure_id":15019,"section_number":"38.2-4233","catch_line":"Commission approval required for certain transactions","url":"\/38.2-4233\/","token":"38.2\/42\/2\/38.2-4233","metadata":false},"next_section":{"id":73864,"structure_id":15019,"section_number":"38.2-4235","catch_line":"Confidential treatment of information and documents","url":"\/38.2-4235\/","token":"38.2\/42\/2\/38.2-4235","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-4234\/","history_text":"

This law was first created in 1989. The record of its establishment is cataloged in chapter 606 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1989 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. 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. That modification is as follows: in 1992, chapter 588.<\/p>","references":[{"id":73864,"section_number":"38.2-4235","catch_line":"Confidential treatment of information and documents","order_by":null,"url":"\/38.2-4235\/"}],"refers_to":[{"id":85909,"section_number":"38.2-1317","catch_line":"Examinations; when authorized or required","order_by":null,"url":"\/38.2-1317\/"},{"id":73870,"section_number":"38.2-4231","catch_line":"Registration of nonstock corporations that are members of holding company system","order_by":null,"url":"\/38.2-4231\/"}],"permalink":{"id":216827,"object_type":"law","relational_id":72404,"identifier":"38.2-4234","token":"38.2\/42\/2\/38.2-4234","url":"\/38.2-4234\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-4234\/","token":"38.2\/42\/2\/38.2-4234","dublin_core":{"Title":"Examinations","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-4234","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> In addition to the powers the Commission<\/span> has under Article 4 of Chapter 13 (§ 38.2-1317<\/a> et seq.) of this title, the Commission<\/span> shall also have the power to order<\/span> any nonstock corporation<\/span> registered under § 38.2-4231<\/a> to produce any records, books, or other information papers in the possession<\/span> of the nonstock corporation<\/span> or its affiliates<\/span> necessary to determine the financial condition or legality of conduct of the nonstock corporation<\/span>. If the nonstock corporation<\/span> fails to comply with the order<\/span>, the Commission<\/span> shall have the power to examine its affiliates<\/span> to obtain the information. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Commission<\/span> shall exercise its power under subsection A of this section only if the examination of the nonstock corporation<\/span> under Article 4 of Chapter 13 (§ 38.2-1317<\/a> et seq.) of this title is inadequate or the interests of the subscribers<\/span> of the nonstock corporation<\/span> may be adversely affected. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The Commission<\/span> may retain at the expense of the registered nonstock corporation<\/span> any attorneys, actuaries, accountants and other experts reasonably necessary to assist in the conduct of the examination under subsection A of this section. Any persons<\/span> so retained shall be under the direction and control of the Commission<\/span> and shall act in a purely advisory capacity. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Each nonstock corporation<\/span> producing books and papers for examination records pursuant to subsection A of this section shall be liable for and shall pay the expense of the examination in accordance with the provisions of Article 4 of Chapter 13 (§ 38.2-1317<\/a> et seq.) of this title. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nEXAMINATIONS (\u00a7 38.2-4234)\n\nA. In addition to the powers the Commission has under Article 4 of Chapter 13\n(§ 38.2-1317 et seq.) of this title, the Commission shall also have the\npower to order any nonstock corporation registered under § 38.2-4231 to\nproduce any records, books, or other information papers in the possession of the\nnonstock corporation or its affiliates necessary to determine the financial\ncondition or legality of conduct of the nonstock corporation. If the nonstock\ncorporation fails to comply with the order, the Commission shall have the power\nto examine its affiliates to obtain the information.\n\nB. The Commission shall exercise its power under subsection A of this section\nonly if the examination of the nonstock corporation under Article 4 of Chapter\n13 (§ 38.2-1317 et seq.) of this title is inadequate or the interests of\nthe subscribers of the nonstock corporation may be adversely affected.\n\nC. The Commission may retain at the expense of the registered nonstock\ncorporation any attorneys, actuaries, accountants and other experts reasonably\nnecessary to assist in the conduct of the examination under subsection A of this\nsection. Any persons so retained shall be under the direction and control of the\nCommission and shall act in a purely advisory capacity.\n\nD. Each nonstock corporation producing books and papers for examination records\npursuant to subsection A of this section shall be liable for and shall pay the\nexpense of the examination in accordance with the provisions of Article 4 of\nChapter 13 (§ 38.2-1317 et seq.) of this title.\n\nHISTORY: 1989, c. 606; 1992, c. 588.","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}}