Virginia Administrative Code
Title 14 - INSURANCE
Agency 5 - STATE CORPORATION COMMISSION, BUREAU OF INSURANCE
Chapter 360 - RULES GOVERNING LOCAL GOVERNMENT GROUP SELF-INSURANCE POOLS
Section 14VAC5-360-160 - Revocation or suspension of self-insurance license

Universal Citation: 4 VA Admin Code 5-360-160

Current through Register Vol. 41, No. 3, September 23, 2024

A. The commission may suspend or withdraw a pool's license as provided for in 14VAC5-360-30 B.

B. The commission shall give 10 days prior notice to a pool of the proposed suspension or revocation. The notice shall be served personally, or by certified or registered mail, upon all interested parties and shall state the reasons for the proposed suspension or revocation and provide the pool with an opportunity to introduce evidence and be heard. If after a hearing, which may be formal or informal, the pool's license is suspended or revoked, such action shall become effective 30 days after the commission's order is issued.

C. Any suspension may be terminated by the commission upon proof by the pool that the original reasons for suspension have been satisfactorily corrected, and that the pool continues to meet all other requirements for a license.

Statutory Authority

§§ 12.1-13 and 38.2-223 of the Code of Virginia.

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