Statutes > Virginia Statutes > Title 38.2 - INSURANCE. > Chapter 38 - Cooperative Nonprofit Life Benefit Companies (38.2-3800 thru 38.2-3818) > 38.2-3803 - Licensing of additional companies prohibited.

38.2-3803 - Licensing of additional companies prohibited.

§ 38.2-3803. Licensing of additional companies prohibited.

Any company that was not licensed and doing business in this Commonwealth onJuly 1, 1952, shall not be issued a license to do the business of insurancein this Commonwealth. On or after July 1, 1952, only a renewal of a licenseheld by the company for the preceding year will be issued.

(1952, c. 317, § 38.1-499; 1986, c. 562.)