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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>65066</law_id><section_number>38.2-1320.3</section_number><catch_line>Examination reports; orders and procedures</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>38.2-1320.4</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="38.2">Insurance</unit><unit label="chapter" level="2" order_by="1" identifier="13">Reports, Reserves and Examinations, Insurance Holding Companies, Reinsurance Intermediaries, and Managing General Agents</unit><unit label="article" level="3" order_by="1" identifier="4">Examinations</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> A certified copy of the examination report filed pursuant to subdivision 1 of &#xA7; <a class="law" title="Filing of report on examination" href="/38.2-1320.2/">38.2-1320.2</a> shall be served upon the <span class="dictionary">company</span> by certified mail. Within thirty days of the filing of the report, the <span class="dictionary">company</span> shall file <span class="dictionary">affidavits</span> executed by each of its directors stating under <span class="dictionary">oath</span> that they have received a copy of the filed report and any related <span class="dictionary">orders</span>. <a id="paragraph-236824" class="section-permalink" href="https://vacode.org/38.2-1320.3/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> If the examination report reveals that the <span class="dictionary">company</span> is operating in violation of any <span class="dictionary">law</span>, regulation or prior <span class="dictionary">order</span> of the <span class="dictionary">Commission</span>, the <span class="dictionary">Commission</span> may <span class="dictionary">order</span> the <span class="dictionary">company</span> to take any action the <span class="dictionary">Commission</span> considers necessary and appropriate to cure such violation. <a id="paragraph-236825" class="section-permalink" href="https://vacode.org/38.2-1320.3/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> Any <span class="dictionary">hearing</span> conducted by the <span class="dictionary">Commission</span> under subdivision 2 of &#xA7; <a class="law" title="Submission of examination report" href="/38.2-1320.1/">38.2-1320.1</a> or subdivision 3 of &#xA7; <a class="law" title="Filing of report on examination" href="/38.2-1320.2/">38.2-1320.2</a> shall be conducted as a nonadversarial confidential investigatory proceeding as necessary for the resolution of any inconsistencies, discrepancies or disputed <span class="dictionary">issues</span> apparent upon the face of the examination report or raised by or as a result of the <span class="dictionary">Commission</span>&#x2019;s review of relevant workpapers or by the written submission of the <span class="dictionary">company</span>. <a id="paragraph-236826" class="section-permalink" href="https://vacode.org/38.2-1320.3/#C"><i class="fa fa-link"/></a></p></section></text><history>1992, c. 588.</history><metadata></metadata></law>
