Code · Virginia · Title 38.2 · Chapter 7

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

48 words·~1 min read·/va/title-38-2/chapter-7/38-2-701

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Any domestic insurer may have a director who is also a director of another domestic, foreign or alien insurer, unless the effect thereof

(i)substantially lessens competition generally or

(ii)tends to create a monopoly, in the business of insurance.

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