                                 CODE OF VIRGINIA

LICENSING OF NONSTOCK CORPORATION (§ 38.2-4517)

A. No person shall operate a dental or optometric services plan in this
Commonwealth without a license issued by the Commission. Each nonstock
corporation shall apply for a license and furnish any relevant information the
Commission requires. Each license shall expire at midnight on the following June
30. Application for a license shall be accompanied by a nonrefundable
application fee of $500.

B. The Commission shall not issue to or renew a license of a nonstock
corporation unless it is satisfied that the financial condition, the method of
operation, and the manner of doing business of the nonstock corporation enable
it to meet its contractual obligations to all subscribers and that the nonstock
corporation has otherwise complied with all the requirements of law.

HISTORY: 1980, c. 682, § 38.1-906; 1986, c. 562; 1987, cc. 565, 655; 1994, c.
503.