                                 CODE OF VIRGINIA

REGISTRATION; FEES (§ 59.1-441.2)

A. It is unlawful for any legal services plan seller to offer, advertise, or
execute, or cause to be executed by the subscriber, any subscription contract in
the Commonwealth unless the legal services plan seller at the time of the offer,
advertisement, sale, or execution of a subscription contract has been properly
registered with the Commissioner or the legal services plan seller has submitted
the registration information and fee required by this section to the legal
services organization for which the seller will offer subscription contracts.
The registration shall (i) disclose the address, ownership, and affiliation with
the legal services organization and such other information as the Commissioner
may require consistent with the purposes of this chapter, (ii) be renewed
annually on July 1, and (iii) be accompanied by the appropriate registration fee
of $50 per each annual registration. Further, the registration shall be
accompanied by a late fee of $25 if the registration renewal is neither
postmarked nor received on or before July 1. A legal services plan
seller&#8217;s initial or renewal registration may be accomplished either by the
legal services plan seller or on behalf of such seller by the legal services
organization for which the seller offers subscription contracts, and the
Commissioner shall accept any registration information or fee required to be
submitted pursuant to this chapter that is submitted to the Commissioner. A
legal services organization shall submit the registration information and fees
received pursuant to this section to the Commissioner, in a form and manner
prescribed by the Commissioner, no later than 30 days after the information and
fees are received by the organization.

B. Any legal services plan seller or legal services organization that violates
the provisions of subsection A shall pay a late filing fee of $100 for each
30-day period the registration is late. This fee shall be in addition to all
other penalties allowed by law.

C. A registration shall be amended within 21 days if there is a change in the
information included in the registration. If the legal services plan seller has
submitted such changes to the legal services organization for which the seller
will offer subscription contracts, the legal services organization shall submit
the amended registration, in the form and manner prescribed by the Commissioner,
no later than 30 days after such information is received by the organization.

D. Any matter subject to the insurance regulatory authority of the State
Corporation Commission pursuant to Title 38.2 shall not be subject to the
provisions of this chapter.

E. All fees shall be remitted to the State Treasurer and shall be placed to the
credit and special fund of the Virginia Department of Agriculture and Consumer
Services to be used in the administration of this chapter.

F. All insurance agent licenses issued by the State Corporation Commission
including authority to sell legal services plan subscription contracts shall
continue in effect for a period of 90 days following the effective date of this
chapter, during which time those holding such authority from the State
Corporation Commission shall apply for registration with the Department. At the
end of the 90-day period, no insurance agent license shall include the authority
to sell legal services plan subscription contracts.

HISTORY: 2004, c. 784; 2020, c. 408; 2021, Sp. Sess. I, c. 180.