                                 CODE OF VIRGINIA

POWERS AND DUTIES OF THE COMMISSION; EXCLUSIVE STATE STANDARDS (§ 38.2-627)

A. The Commissioner may examine and investigate the affairs of any licensee to
determine whether a licensee has been or is engaged in any conduct in violation
of this article. This power is in addition to the powers that the Commissioner
has under Article 4 of Chapter 13 (38.2-1300 et seq.) and Chapter 18 (38.2-1800
et seq.). Any such investigation or examination shall be conducted pursuant to
Chapters 13 and 18.

B. Whenever the Commissioner has reason to believe that a licensee has been or
is engaged in conduct in the Commonwealth that violates this article, the
Commissioner may take action that is necessary or appropriate to enforce the
provisions of this article.

C. The Commission may examine and investigate the affairs of any
insurance-support organization that acts on behalf of an insurance institution
or agent as defined in &#xA7; 38.2-602 and that either (i) transacts business in
the Commonwealth or (ii) transacts business outside the Commonwealth and has an
effect on a person residing in the Commonwealth, in order to determine whether
the insurance-support organization has been or is engaged in any conduct in
violation of this article.

D. The Commission shall adopt rules and regulations implementing the provisions
of this article.

E. This article and any rules adopted pursuant to this article establish the
exclusive state standards applicable to licensees for data security, the
security of nonpublic information, the investigation of cybersecurity events,
and notification of cybersecurity events for those individuals and entities
subject to this article.

HISTORY: 2020, c. 264.