Virginia Code 38.2-1211: License required of agent.
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No person shall act in this Commonwealth as an agent of a reciprocal in the selling, solicitation or negotiation of applications for insurance, subscriber‘s agreements and powers of attorney, or in the collection of premiums in connection with the reciprocal insurer, without first procuring a license from the Commission pursuant to the requirements in Chapter 18 of this title. An agent shall be appointed by each reciprocal the agent represents.
Terms Used In Virginia Code 38.2-1211
- Attorney: means the person designated and authorized by subscribers as the attorney-in-fact having authority to obligate them on reciprocal insurance contracts. See Virginia Code 38.2-1201
- Commission: means the State Corporation Commission. See Virginia Code 38.2-100
- Insurer: means an insurance company. See Virginia Code 38.2-100
- Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
- Reciprocal: means the aggregation of subscribers under a common name. See Virginia Code 38.2-1201
- Subscriber: means a person obligated under a reciprocal insurance agreement. See Virginia Code 38.2-1201
1977, c. 313, § 38.1-700.1; 1986, c. 562; 2001, c. 706.