Virginia § 38.2-1334.2:2 Sanctions

Virginia Statutes

§ 38.2-1334.2:2 — Sanctions

Virginia § 38.2-1334.2:2

Title 38.2INSURANCE

Ch. 13REPORTS, RESERVES AND EXAMINATIONS, INSURANCE HOLDING COMPANIES, REINSURANCE INTERMEDIARIES, AND MANAGING GENERAL AGENTS

Art. 5INSURANCE HOLDING COMPANIES

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Bluebook

Va. Code Ann. § 38.2-1334.2:2 (2026).

Text

Whenever it appears to the Commission that any person has committed a violation of §§ 38.2-1323 through 38.2-1328 and the violation prevents the full understanding of the enterprise risk to the insurer by affiliates or by the insurance holding company system, the violation may serve as an independent basis for disapproving dividends or distributions and for instituting delinquency proceedings pursuant to § 38.2-1503.

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Whenever it appears to the Commission that any person has committed a violation of §§ 38.2-1323 through 38.2-1328 and the violation prevents the full understanding of the enterprise risk to the insurer by affiliates or by the insurance holding company system, the violation may serve as an independent basis for disapproving dividends or distributions and for instituting delinquency proceedings pursuant to § 38.2-1503.