Statutes > Virginia Statutes > Title 38.2 - INSURANCE. > Chapter 7 - Antitrust Provisions (38.2-700 thru 38.2-705) > 38.2-701 - When director of a domestic insurer may be a director of another insurer.

38.2-701 - When director of a domestic insurer may be a director of another insurer.

§ 38.2-701. When director of a domestic insurer may be a director of anotherinsurer.

Any domestic insurer may have a director who is also a director of anotherdomestic, foreign or alien insurer, unless the effect thereof (i)substantially lessens competition generally or (ii) tends to create amonopoly, in the business of insurance.

(1952, c. 317, § 38.1-59; 1986, c. 562.)