                                 CODE OF VIRGINIA

GENERAL POWERS OF THE COMMISSION RELATIVE TO INSURANCE (§ 38.2-200)

A. The Commission is charged with the execution of all laws relating to
insurance and insurers. All companies, domestic, foreign, and alien, transacting
or licensed to transact the business of insurance in this Commonwealth are
subject to inspection, supervision and regulation by the Commission.

B. All licenses granting the authority to transact the business of insurance in
this Commonwealth shall be granted and issued by the Commission under its seal.
The licenses shall be in addition to the certificates of authority required of
foreign corporations under &#xA7;&#xA7; 13.1-757 and 13.1-919.

C. During an emergency, public health or otherwise, which the Commission, in its
discretion, determines may inhibit the Commission&#8217;s ability to issue or
renew licenses and registrations under this title, or which may hinder
licensees&#8217; ability to meet licensure requirements, the Commission may
temporarily suspend, authorize extensions of time for, or waive requirements for
issuance or renewal of a license or registration under this title. The
Commission may (i) issue temporary licenses and registrations, (ii) suspend
examination requirements, or (iii) take other necessary measures to ensure that
licensees and registrants under this title can continue to transact the business
of insurance in the Commonwealth during the emergency.
			When temporarily suspending, authorizing extensions of time for, or waiving
requirements for issuance or renewal of a license or registration pursuant to
this subsection, the Commission shall issue an order specifying:

   1. The nature and basis of the emergency;

   2. Each line of insurance business to which the order applies, if applicable;

   3. The requirements for temporary licensure or registration and other relief,
   if applicable;

   4. The requirements for issuance or renewal of licenses or registrations that
   the Commission is suspending, authorizing extensions of time for, or waiving;
   and

   5. The duration of the order, not to exceed 120 days unless renewed by the
   Commission.

HISTORY: Code 1950, § 38-2; 1952, c. 317, § 38.1-29; 1986, c. 562; 2021, Sp.
Sess. I, c. 297.