                                 CODE OF VIRGINIA

TRANSFER OF DOMICILE FROM VIRGINIA TO ANOTHER STATE (§ 38.2-1020)

Any domestic insurer, upon the approval of the Commission, may transfer its
domicile from this Commonwealth to any other state in which it is licensed to
transact the business of insurance. The Commission may approve the proposed
transfer of domicile if it determines that the transfer is in the best interests
of the insurer&#8217;s policyholders and this Commonwealth. If the Commission
does not approve the transfer, it shall give the insurer written notice of the
refusal and the reasons for it within thirty days after the date the request for
transfer was made. If the request for transfer is granted and the insurer is
otherwise qualified, it may transact the business of insurance in this
Commonwealth as a foreign insurer without interruption in licensing.

HISTORY: 1983, c. 441, § 38.1-950; 1986, c. 562.