No foreign reciprocal shall be licensed to transact the business of insurance in this Commonwealth unless it has filed with the Commission a certificate of the supervising insurance official of the state in which it is organized. The certificate shall show that the foreign reciprocal is licensed to write and is writing actively in that state or an affiliate of the foreign reciprocal is licensed to write and is writing actively in its state of domicile or at least two other states the class of insurance it proposes to write in this Commonwealth. No alien reciprocal shall be licensed to transact the business of insurance until it has filed with the Commission a certificate of the supervising insurance official of (i) the state through which it entered the United States or (ii) the alien reciprocal's domiciliary country. The certificate shall show that the alien reciprocal is licensed to write and is writing actively in that state or country the class of insurance it proposes to write in this Commonwealth.
1952, c. 317, § 38.1-696; 1986, c. 562; 2017, c. 655.
Structure Code of Virginia
Chapter 12 - Reciprocal Insurance
§ 38.2-1202. Insuring power of reciprocals
§ 38.2-1203. What laws applicable to reciprocals; compliance with § 38.2-208
§ 38.2-1204. Power to enter into reciprocal insurance contracts
§ 38.2-1206. License required of reciprocals; surplus
§ 38.2-1207. Exceptions as to reciprocals licensed and operating
§ 38.2-1208. Additional requirements, foreign and alien reciprocals
§ 38.2-1209. Residence and office of attorney of foreign and alien reciprocals
§ 38.2-1210. Contracts executed by attorney
§ 38.2-1211. License required of agent
§ 38.2-1212. Subscribers' liability
§ 38.2-1213. Nonassessable policies
§ 38.2-1214. Savings returned to subscribers
§ 38.2-1216. Clerk of Commission to be appointed agent for service of process; procedure thereafter
§ 38.2-1218. Effect of judgment against reciprocal
§ 38.2-1219. Organization of reciprocals; what declaration to contain
§ 38.2-1220. Attorney to file bond
§ 38.2-1221. Deposit instead of bond
§ 38.2-1222. Subscribers' advisory committee
§ 38.2-1223. Subscriber's agreement and power of attorney
§ 38.2-1224. Modification of power of attorney and subscriber's agreement
§ 38.2-1227. Time limit for assessment
§ 38.2-1228. Subscribers' share in assets
§ 38.2-1229. Impaired reciprocals