                                 CODE OF VIRGINIA

POWER OF COMMISSION TO INVESTIGATE AFFAIRS OF PERSONS ENGAGED IN INSURANCE
BUSINESS; PENALTIES FOR REFUSAL TO PERMIT INVESTIGATION (§ 38.2-1809)

A. The Commission shall have power to examine and investigate the business
affairs of any person engaged or alleged to be engaged in the business of
insurance in this Commonwealth, including all agents, to determine whether the
person has engaged or is engaging in any violation of this title. The Commission
shall have the right to examine all records relating to the writing or alleged
writing of insurance by any such person in this Commonwealth to determine
whether the person is now or has been violating any of the provisions of this
title. Any licensee under this title, or any person purporting to be a licensee
under this title, or any person whose actions have led any person to believe
that he is a licensee under this title, who refuses to permit the Commission or
any of its employees or agents, including employees of the Bureau of Insurance,
to make an examination or who fails or refuses to comply with the provisions of
this section may, after notice and an opportunity to be heard, be subject to any
of the penalties relating to licensees under this title, as provided in this
title, including the denial, suspension or revocation of his license.

B. Except as otherwise provided in this title, every licensee shall retain all
of his records relative to insurance transactions for the three previous
calendar years except that records of premium quotations which are not accepted
by the insured or prospective insured need not be kept. These records shall be
made available promptly upon request for examination by the Commission or its
employees without notice during normal business hours.

HISTORY: Code 1950, § 38.1-295.1; 1968, c. 238; 1979, c. 513, § 38.1-327.9;
1985, c. 3; 1986, c. 562; 1987, c. 521; 1990, c. 464; 1991, c. 417; 2001, c.
706.