38.2-1032 - Additional licensing requirements for domestic insurers.
§ 38.2-1032. Additional licensing requirements for domestic insurers.
No domestic insurer shall be licensed to transact the business of insurancein this Commonwealth until it has furnished the Commission with a statementunder the seal of the insurer, verified by the president or treasurer or twoof its directors, showing (i) the amount of surplus, (ii) the amount ofcapital stock fully paid in, (iii) the amount of actual cash in its treasury,(iv) the amount invested with a list of the investments and their cash value,and (v) any other information the Commission requires. In its discretion theCommission may make or direct to be made an examination of the insurer toascertain if it is entitled to the license.
(Code 1950, § 38-505; 1952, c. 317, § 38.1-91; 1960, c. 289; 1966, c. 580;1986, c. 562.)