Virginia Statutes
§ 38.2-1018 — Plan of merger to be approved by Commission
Virginia § 38.2-1018
JurisdictionVirginia
Title 38.2INSURANCE
Ch. 10ORGANIZATION, ADMISSION AND LICENSING OF INSURERS
Art. 3MERGERS
This text of Virginia § 38.2-1018 (Plan of merger to be approved by Commission) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Va. Code Ann. § 38.2-1018 (2026).
Text
Before any joint agreement for the merger of domestic insurers is submitted to the stockholders or members, it shall first be submitted to and approved by the Commission. The Commission shall not approve the agreement unless, after a hearing, it finds that the plan of merger is fair, equitable, consistent with law, and that no reasonable objection to the plan exists. If the Commission fails to approve the plan it shall state the reasons in its order.
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Legislative History
1952, c. 317, § 38.1-81; 1956, c. 431; 1986, c. 562.
Nearby Sections
15
§ 38.2-100
Definitions§ 38.2-1000
Incorporation of domestic stock insurers§ 38.2-1001
Incorporation of domestic mutual insurers§ 38.2-1004
Voting§ 38.2-1005
Certain mutual companies and societies not to become stock companies without approval of Commission§ 38.2-1005.1:1
Definitions§ 38.2-1005.1:10
Conflicts of interest§ 38.2-1005.1:11
Costs and expenses§ 38.2-1005.1:12
Failure to give notice§ 38.2-1005.1:13
Limitation on actionsCite This Page — Counsel Stack
Bluebook (online)
Virginia § 38.2-1018, Counsel Stack Legal Research, https://law.counselstack.com/statute/va/38.2/38.2-1018.