Insurance licensing; certificates of authority. (HB349)
Introduced By
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Insurance licensing; certificates of authority. Eliminates the requirement that a foreign or domestic business entity first obtain a certificate of authority, including a certificate of registration, certificate of organization, certificate of limited partnership, or charter, from the State Corporation Commission prior to being eligible to obtain a license as an insurance agent, consultant, surplus lines broker, or viatical settlement broker. Amends § 38.2-1820 (“Issuance of license.”), § 38.2-1822 (“License required of individual and business entity agents; individual acting for business entity licensee.”), § 38.2-1836 (“Licensing nonresidents; reciprocal agreements with other states and Canadian provinces.”), § 38.2-1838 (“License required of consultants.”), § 38.2-1845 (“Licensing nonresidents; reciprocal agreements with other states and Canadian provinces.”), § 38.2-1857.2 (“Applications for surplus lines brokers\u2019 licenses.”), § 38.2-1857.5 (“Requirement to report to Commission.”), § 38.2-1857.9 (“Licensing nonresidents; clerk of the Commission to be appointed agent for service of process; reciprocal agreements with other states and Canadian provinces.”), § 38.2-1865.1 (“License required for viatical settlement brokers; Commission\u2019s authority; conditions.”), § 38.2-1865.4 (“Licensing nonresidents; reciprocal agreements with other states and Canadian provinces.”), of the Code of Virginia. View Full Text »
