                                 CODE OF VIRGINIA

REPORT OF ACTS DEEMED LARCENY UNDER § 18.2-111; PRIVILEGED COMMUNICATIONS;
ATTORNEY FOR THE COMMONWEALTH TO BE INFORMED (§ 38.2-1810)

A. Whenever any insurer licensed to transact the business of insurance in this
Commonwealth knows or has reasonable cause to believe that any licensee under
this title has committed any act of larceny as prescribed in &#xA7; 18.2-111
with respect to any money, bill, note, check, order, draft or other property
either belonging to the insurer or received by the licensee on behalf of the
insurer, it shall be the duty of the insurer within sixty calendar days after
acquiring the knowledge to file with the Commission a complete statement of the
relevant facts and circumstances. Each statement shall be a privileged
communication, and when made and filed shall not subject the insurer, or any
individual representative of it that is making or filing the statement, to any
liability whatsoever.

B. Whenever any insurer licensed to transact the business of title insurance in
this Commonwealth knows or has reasonable cause to believe that any title
insurance agent appointed by such insurer has committed any act of larceny as
prescribed in &#xA7; 18.2-111 with respect to any money, bill, note, check,
order, draft or other property either belonging to the insured or prospective
insured or received by the agent on behalf of the insured or prospective insured
related to that agent&#8217;s provision of escrow, closing or settlement
services as defined in &#xA7; 55.1-1000, it shall be the duty of the insurer
within sixty calendar days after acquiring such knowledge to file with the
Commission a complete statement of the relevant facts and circumstances. Each
statement shall be a privileged communication, and when made and filed shall not
subject the insurer, or any individual representative of it that is making or
filing the statement, to any liability whatsoever.

C. The Commission shall inform the attorney for the Commonwealth of the
appropriate county or city of each statement filed pursuant to subsection A or B
of this section.

HISTORY: 1962, c. 263, § 38.1-165.1; 1986, c. 562; 1987, c. 521; 2000, c. 549;
2001, c. 706.