                                 CODE OF VIRGINIA

SUSPENSION, REVOCATION, OR TERMINATION OF LICENSE (§ 38.2-1889)

A. If a limited lines travel insurance agent or travel retailer or its employee
or authorized representative violates any provision of this article, the
Commission may do any of the following:

   1. After notice and hearing, impose fines and penalties in accordance with
   &#xA7; 38.2-218; and

   2. After notice and hearing, impose such other penalties that the Commission
   deems necessary and reasonable to carry out the purpose of this article,
   including (i) suspending the privilege of transacting travel insurance
   pursuant to this article at specific business locations where violations have
   occurred, (ii) suspending or revoking the ability of individual employees or
   authorized representatives or travel retailers to act under the license, and
   (iii) imposing a penalty in accordance with &#xA7; 38.2-218 on the licensed
   producer designated by the travel insurance agent pursuant to &#xA7;
   38.2-1820.

B. The license authority of any licensed limited lines property and casualty
producer selling travel insurance may be terminated if the sole licensed
responsible producer designated for the limited lines travel insurance
agent&#8217;s compliance with the insurance laws, rules, and regulations of the
Commonwealth is removed for any reason and a new responsible producer has not
been appointed. The Commission shall be notified within 30 calendar days of such
removal and of the newly designated responsible producer.

HISTORY: 2013, c. 497.