Virginia Code 38.2-1320.2: Filing of report on examination.
Within thirty days of the end of the period allowed for the receipt of written submissions, the Commission shall fully consider and review the report, together with any written submissions and any relevant portions of the examiner’s workpapers and act upon the report by:
Terms Used In Virginia Code 38.2-1320.2
- Commission: means the State Corporation Commission. See Virginia Code 38.2-100
- Company: means any person engaging in or proposing or attempting to engage in any transaction or kind of insurance or surety business and any person or group of persons who, pursuant to the provisions of this title, Virginia Code 38.2-1317.1
- 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, or any affiliate thereof. See Virginia Code 38.2-1317.1
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
1. Certifying that the examination report as initially provided to the person examined, or with modifications or corrections, is the Commission’s true examination report and filing such report in the offices of the Commission;
2. Rejecting the examination report with notice to the person examined that the Commission’s examiners are being directed to reopen the examination for purposes of obtaining additional data, documentation or information, and resubmission pursuant to § 38.2-1320.1; or
3. Calling for an investigatory hearing before the Commission with no less than ten days’ notice to the company for purposes of obtaining additional documentation, data, information and testimony.
1992, c. 588.