38.2-1340 - Revocation, suspension, or nonrenewal of insurer's license.
§ 38.2-1340. Revocation, suspension, or nonrenewal of insurer's license.
Whenever it appears to the Commission that any person has committed aviolation of this article that makes the continued operation of a domesticinsurer contrary to the interests of policyholders or the public, theCommission may, after giving notice and an opportunity to be heard, suspend,revoke or refuse to renew the insurer's license to do business in thisCommonwealth for whatever period it finds is required for the protection ofpolicyholders or the public. Any such action shall be supported by specificfindings of fact and conclusions of law.
(1977, c. 414, § 38.1-178.19; 1986, c. 562.)
Insurer Act