{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-5507.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-5507.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-5507.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-5507.html"}],"law_id":81704,"edition_id":1,"section_id":81704,"structure_id":14894,"section_number":"38.2-5507","catch_line":"Hearings","history":"1995, c. 789; 2000, c. 47.","full_text":"A\n\nA licensee shall have the right to a confidential hearing, on a record before the Commission, at which the licensee may challenge any determination or action by the Commission, upon:1\n\nNotification to a licensee by the Commission of an Adjusted RBC Report;2\n\nNotification to a licensee by the Commission that (i) the licensee’s RBC Plan or Revised RBC Plan is unsatisfactory and (ii) such notification constitutes a Regulatory Action Level Event with respect to such licensee;3\n\nNotification to a licensee by the Commission that the licensee has failed to adhere to its RBC Plan or Revised RBC Plan and that such failure has a substantial adverse effect on the ability of the licensee to eliminate the Company Action Level Event with respect to the licensee in accordance with its RBC Plan or Revised RBC Plan; or4\n\nNotification to a licensee by the Commission of a Corrective Order with respect to the licensee.B\n\nThe licensee shall notify the Commission of its request for a hearing within five days after the notification by the Commission under subdivision 1, 2, 3 or 4 of subsection A. Upon receipt of the licensee’s request for a hearing, the Commission shall set a date for the hearing, which date shall be no less than ten nor more than thirty days after the date of the licensee’s request.","order_by":null,"text":{"0":{"id":292686,"text":"A licensee shall have the right to a confidential hearing, on a record before the Commission, at which the licensee may challenge any determination or action by the Commission, upon:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":292687,"text":"Notification to a licensee by the Commission of an Adjusted RBC Report;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":292688,"text":"Notification to a licensee by the Commission that (i) the licensee’s RBC Plan or Revised RBC Plan is unsatisfactory and (ii) such notification constitutes a Regulatory Action Level Event with respect to such licensee;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":292689,"text":"Notification to a licensee by the Commission that the licensee has failed to adhere to its RBC Plan or Revised RBC Plan and that such failure has a substantial adverse effect on the ability of the licensee to eliminate the Company Action Level Event with respect to the licensee in accordance with its RBC Plan or Revised RBC Plan; or","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":292690,"text":"Notification to a licensee by the Commission of a Corrective Order with respect to the licensee.","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"B"},"5":{"id":292691,"text":"The licensee shall notify the Commission of its request for a hearing within five days after the notification by the Commission under subdivision 1, 2, 3 or 4 of subsection A. Upon receipt of the licensee’s request for a hearing, the Commission shall set a date for the hearing, which date shall be no less than ten nor more than thirty days after the date of the licensee’s request.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A4"}},"ancestry":[{"id":14894,"edition_id":1,"name":"Risk-Based Capital Act","identifier":"55","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:50:37","date_modified":"2026-06-26 03:50:37","permalink":{"id":217847,"object_type":"structure","relational_id":14894,"identifier":"55","token":"38.2\/55","url":"\/38.2\/55\/","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":68244,"structure_id":14894,"section_number":"38.2-5500","catch_line":"Applicability","url":"\/38.2-5500\/","token":"38.2\/55\/38.2-5500","metadata":false},{"id":67232,"structure_id":14894,"section_number":"38.2-5501","catch_line":"Definitions","url":"\/38.2-5501\/","token":"38.2\/55\/38.2-5501","metadata":false},{"id":68713,"structure_id":14894,"section_number":"38.2-5502","catch_line":"RBC Reports","url":"\/38.2-5502\/","token":"38.2\/55\/38.2-5502","metadata":false},{"id":72298,"structure_id":14894,"section_number":"38.2-5503","catch_line":"Company Action Level Event","url":"\/38.2-5503\/","token":"38.2\/55\/38.2-5503","metadata":false},{"id":86775,"structure_id":14894,"section_number":"38.2-5504","catch_line":"Regulatory Action Level Event","url":"\/38.2-5504\/","token":"38.2\/55\/38.2-5504","metadata":false},{"id":85425,"structure_id":14894,"section_number":"38.2-5505","catch_line":"Authorized Control Level Event","url":"\/38.2-5505\/","token":"38.2\/55\/38.2-5505","metadata":false},{"id":69962,"structure_id":14894,"section_number":"38.2-5506","catch_line":"Mandatory Control Level Event","url":"\/38.2-5506\/","token":"38.2\/55\/38.2-5506","metadata":false},{"id":81704,"structure_id":14894,"section_number":"38.2-5507","catch_line":"Hearings","url":"\/38.2-5507\/","token":"38.2\/55\/38.2-5507","metadata":false},{"id":61072,"structure_id":14894,"section_number":"38.2-5508","catch_line":"Confidentiality; prohibition on announcements; prohibition on use in ratemaking","url":"\/38.2-5508\/","token":"38.2\/55\/38.2-5508","metadata":false},{"id":67266,"structure_id":14894,"section_number":"38.2-5509","catch_line":"Supplemental provisions; rules; exemption","url":"\/38.2-5509\/","token":"38.2\/55\/38.2-5509","metadata":false},{"id":80850,"structure_id":14894,"section_number":"38.2-5510","catch_line":"Foreign licensees","url":"\/38.2-5510\/","token":"38.2\/55\/38.2-5510","metadata":false},{"id":61601,"structure_id":14894,"section_number":"38.2-5511","catch_line":"Immunity","url":"\/38.2-5511\/","token":"38.2\/55\/38.2-5511","metadata":false},{"id":56865,"structure_id":14894,"section_number":"38.2-5512","catch_line":"Repealed","url":"\/38.2-5512\/","token":"38.2\/55\/38.2-5512","metadata":false},{"id":83503,"structure_id":14894,"section_number":"38.2-5513","catch_line":"Notices","url":"\/38.2-5513\/","token":"38.2\/55\/38.2-5513","metadata":false},{"id":69834,"structure_id":14894,"section_number":"38.2-5514","catch_line":"Phase-in provision","url":"\/38.2-5514\/","token":"38.2\/55\/38.2-5514","metadata":false},{"id":67792,"structure_id":14894,"section_number":"38.2-5515","catch_line":"Expired","url":"\/38.2-5515\/","token":"38.2\/55\/38.2-5515","metadata":false}],"previous_section":{"id":69962,"structure_id":14894,"section_number":"38.2-5506","catch_line":"Mandatory Control Level Event","url":"\/38.2-5506\/","token":"38.2\/55\/38.2-5506","metadata":false},"next_section":{"id":61072,"structure_id":14894,"section_number":"38.2-5508","catch_line":"Confidentiality; prohibition on announcements; prohibition on use in ratemaking","url":"\/38.2-5508\/","token":"38.2\/55\/38.2-5508","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-5507\/","history_text":"

This law was first created in 1995. The record of its establishment is cataloged in chapter 789<\/a> 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. 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 2000, chapter 47<\/a>.<\/p>","references":[{"id":72298,"section_number":"38.2-5503","catch_line":"Company Action Level Event","order_by":null,"url":"\/38.2-5503\/"},{"id":86775,"section_number":"38.2-5504","catch_line":"Regulatory Action Level Event","order_by":null,"url":"\/38.2-5504\/"},{"id":85425,"section_number":"38.2-5505","catch_line":"Authorized Control Level Event","order_by":null,"url":"\/38.2-5505\/"},{"id":69962,"section_number":"38.2-5506","catch_line":"Mandatory Control Level Event","order_by":null,"url":"\/38.2-5506\/"}],"refers_to":false,"permalink":{"id":217877,"object_type":"law","relational_id":81704,"identifier":"38.2-5507","token":"38.2\/55\/38.2-5507","url":"\/38.2-5507\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-5507\/","token":"38.2\/55\/38.2-5507","dublin_core":{"Title":"Hearings","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-5507","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A licensee<\/span> shall have the right to a confidential hearing<\/span>, on a record before the Commission<\/span>, at which the licensee<\/span> may challenge any determination or action by the Commission<\/span>, upon: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Notification to a licensee<\/span> by the Commission<\/span> of an Adjusted RBC Report<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Notification to a licensee<\/span> by the Commission<\/span> that (i) the licensee<\/span>’s RBC Plan<\/span> or Revised RBC Plan<\/span> is unsatisfactory and (ii) such notification constitutes a Regulatory Action Level Event with respect to such licensee<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Notification to a licensee<\/span> by the Commission<\/span> that the licensee<\/span> has failed to adhere to its RBC Plan<\/span> or Revised RBC Plan<\/span> and that such failure has a substantial adverse effect on the ability of the licensee<\/span> to eliminate the Company<\/span> Action Level Event with respect to the licensee<\/span> in accordance with its RBC Plan<\/span> or Revised RBC Plan<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Notification to a licensee<\/span> by the Commission<\/span> of a Corrective Order<\/span> with respect to the licensee<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The licensee<\/span> shall notify the Commission<\/span> of its request for a hearing<\/span> within five days after the notification by the Commission<\/span> under subdivision 1, 2, 3 or 4 of subsection A. Upon receipt of the licensee<\/span>’s request for a hearing<\/span>, the Commission<\/span> shall set a date for the hearing<\/span>, which date shall be no less than ten nor more than thirty days after the date of the licensee<\/span>’s request. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nHEARINGS (\u00a7 38.2-5507)\n\nA. A licensee shall have the right to a confidential hearing, on a record before\nthe Commission, at which the licensee may challenge any determination or action\nby the Commission, upon:\n\n 1. Notification to a licensee by the Commission of an Adjusted RBC Report;\n\n 2. Notification to a licensee by the Commission that (i) the licensee’s\n RBC Plan or Revised RBC Plan is unsatisfactory and (ii) such notification\n constitutes a Regulatory Action Level Event with respect to such licensee;\n\n 3. Notification to a licensee by the Commission that the licensee has failed\n to adhere to its RBC Plan or Revised RBC Plan and that such failure has a\n substantial adverse effect on the ability of the licensee to eliminate the\n Company Action Level Event with respect to the licensee in accordance with its\n RBC Plan or Revised RBC Plan; or\n\n 4. Notification to a licensee by the Commission of a Corrective Order with\n respect to the licensee.\n\nB. The licensee shall notify the Commission of its request for a hearing within\nfive days after the notification by the Commission under subdivision 1, 2, 3 or\n4 of subsection A. Upon receipt of the licensee’s request for a hearing,\nthe Commission shall set a date for the hearing, which date shall be no less\nthan ten nor more than thirty days after the date of the licensee’s\nrequest.\n\nHISTORY: 1995, c. 789; 2000, c. 47.","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}}