Code of Virginia § 38.2-700. When domestic insurer may hold stock of another insurer.
77 words·~1 min read·
/va/title-38-2/chapter-7/38-2-700A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subject to Article 6 (§ 38.2-1335 et seq.) of Chapter 13 and Chapter 14 (§ 38.2-1400 et seq.) of this title, any domestic insurer may retain, invest in or acquire the whole or any part of the capital stock of any other insurer, unless the effect of such action
(i)substantially lessens competition generally or
(ii)tends to create a monopoly, in the business of insurance.
1952, c. 317, § 38.1-58; 1983, c. 457; 1986, c. 562.