                                 CODE OF VIRGINIA

LICENSE REQUIRED OF RESIDENT LIFE AND ANNUITIES AGENT (§ 38.2-1815)

A. No individual who is a resident of the Commonwealth shall obtain a license as
a life and annuities agent from the Commission unless the individual has passed
an examination in a form and manner prescribed by the Commission. The Commission
annually shall review whether the examination&#8217;s pass rate is consistent
with the 2013 NAIC State Licensing Handbook, or any successor publication
adopted by the NAIC.

B. An individual may obtain a license as a limited lines credit insurance agent,
a limited lines life and health agent, a motor vehicle rental contract insurance
agent, or any other type of license of restricted authority that the Commission
may deem it necessary to recognize for the purposes of complying with &#xA7;
38.2-1836 without taking such examination.

C. No individual who is a resident of the Commonwealth shall obtain a license as
a variable contract agent unless the individual currently holds a life and
annuities license, and no individual, whether resident or nonresident, shall
obtain a license as a variable contract agent unless the individual has passed
the Financial Industry Regulatory Authority examination or examinations
prescribed by the Commission or such other examination prescribed by the
Commission.

HISTORY: 1979, c. 513, § 38.1-327.24; 1982, c. 223; 1983, cc. 160, 185; 1985,
c. 616; 1986, c. 562; 1987, c. 521; 1993, c. 695; 1998, c. 47; 1999, c. 86;
2001, c. 706; 2010, c. 281; 2012, c. 413; 2020, c. 223.