38.2-1819 - Application for license; fee required.
§ 38.2-1819. Application for license; fee required.
A. Each applicant for a license shall make application to the Commission, inthe form and containing the information the Commission prescribes. Eachapplicant shall, at the time of applying for a license, pay a nonrefundableapplication processing fee in an amount and in a manner prescribed by theCommission. The prescribed application processing fee shall not be less thanfifteen dollars nor more than thirty dollars. The fee shall be collected bythe Commission and paid directly into the state treasury and credited to thefund for the maintenance of the Bureau of Insurance as provided in subsectionB of § 38.2-400.
B. No resident license requiring an examination shall be issued by theCommission later than 183 calendar days from the date the applicant satisfiesthe prelicensing examination requirements set forth in § 38.2-1817.Applicants failing to satisfy this requirement shall be required to satisfyall prelicensing requirements, including the examination, again beforeapplying.
C. Except where prohibited by state or federal law, by submitting anapplication for license, the applicant shall be deemed to have appointed theclerk of the Commission as the agent for service of process on the applicantin any action or proceeding arising in this Commonwealth out of or inconnection with the exercise of the license. Such appointment of the clerk ofthe Commission as agent for service of process shall be irrevocable duringthe period within which a cause of action against the applicant may arise outof transactions with respect to subjects of insurance in this Commonwealth.Service of process on the clerk of the Commission shall conform to theprovisions of Chapter 8 (§ 38.2-800 et seq.) of this title.
(1979, c. 513, § 38.1-327.20; 1986, c. 562; 1987, c. 521; 1989, c. 435; 1994,c. 316; 2001, c. 706.)