§ 38.2-1810. Report of acts deemed larceny under § 18.2-111; privilegedcommunications; attorney for the Commonwealth to be informed.
A. Whenever any insurer licensed to transact the business of insurance inthis Commonwealth knows or has reasonable cause to believe that any licenseeunder this title has committed any act of larceny as prescribed in § 18.2-111with respect to any money, bill, note, check, order, draft or other propertyeither belonging to the insurer or received by the licensee on behalf of theinsurer, it shall be the duty of the insurer within sixty calendar days afteracquiring the knowledge to file with the Commission a complete statement ofthe relevant facts and circumstances. Each statement shall be a privilegedcommunication, and when made and filed shall not subject the insurer, or anyindividual representative of it that is making or filing the statement, toany liability whatsoever.
B. Whenever any insurer licensed to transact the business of title insurancein this Commonwealth knows or has reasonable cause to believe that any titleinsurance agent appointed by such insurer has committed any act of larceny asprescribed in § 18.2-111 with respect to any money, bill, note, check, order,draft or other property either belonging to the insured or prospectiveinsured or received by the agent on behalf of the insured or prospectiveinsured related to that agent's provision of escrow, closing or settlementservices as defined in § 6.1-2.20, it shall be the duty of the insurer withinsixty calendar days after acquiring such knowledge to file with theCommission a complete statement of the relevant facts and circumstances. Eachstatement shall be a privileged communication, and when made and filed shallnot subject the insurer, or any individual representative of it that ismaking or filing the statement, to any liability whatsoever.
C. The Commission shall inform the attorney for the Commonwealth of theappropriate county or city of each statement filed pursuant to subsection Aor B of this section.
(1962, c. 263, § 38.1-165.1; 1986, c. 562; 1987, c. 521; 2000, c. 549; 2001,c. 706.)
§ 38.2-1810. Report of acts deemed larceny under § 18.2-111; privilegedcommunications; attorney for the Commonwealth to be informed.
A. Whenever any insurer licensed to transact the business of insurance inthis Commonwealth knows or has reasonable cause to believe that any licenseeunder this title has committed any act of larceny as prescribed in § 18.2-111with respect to any money, bill, note, check, order, draft or other propertyeither belonging to the insurer or received by the licensee on behalf of theinsurer, it shall be the duty of the insurer within sixty calendar days afteracquiring the knowledge to file with the Commission a complete statement ofthe relevant facts and circumstances. Each statement shall be a privilegedcommunication, and when made and filed shall not subject the insurer, or anyindividual representative of it that is making or filing the statement, toany liability whatsoever.
B. Whenever any insurer licensed to transact the business of title insurancein this Commonwealth knows or has reasonable cause to believe that any titleinsurance agent appointed by such insurer has committed any act of larceny asprescribed in § 18.2-111 with respect to any money, bill, note, check, order,draft or other property either belonging to the insured or prospectiveinsured or received by the agent on behalf of the insured or prospectiveinsured related to that agent's provision of escrow, closing or settlementservices as defined in § 6.1-2.20, it shall be the duty of the insurer withinsixty calendar days after acquiring such knowledge to file with theCommission a complete statement of the relevant facts and circumstances. Eachstatement shall be a privileged communication, and when made and filed shallnot subject the insurer, or any individual representative of it that ismaking or filing the statement, to any liability whatsoever.
C. The Commission shall inform the attorney for the Commonwealth of theappropriate county or city of each statement filed pursuant to subsection Aor B of this section.
(1962, c. 263, § 38.1-165.1; 1986, c. 562; 1987, c. 521; 2000, c. 549; 2001,c. 706.)
§ 38.2-1810. Report of acts deemed larceny under § 18.2-111; privilegedcommunications; attorney for the Commonwealth to be informed.
A. Whenever any insurer licensed to transact the business of insurance inthis Commonwealth knows or has reasonable cause to believe that any licenseeunder this title has committed any act of larceny as prescribed in § 18.2-111with respect to any money, bill, note, check, order, draft or other propertyeither belonging to the insurer or received by the licensee on behalf of theinsurer, it shall be the duty of the insurer within sixty calendar days afteracquiring the knowledge to file with the Commission a complete statement ofthe relevant facts and circumstances. Each statement shall be a privilegedcommunication, and when made and filed shall not subject the insurer, or anyindividual representative of it that is making or filing the statement, toany liability whatsoever.
B. Whenever any insurer licensed to transact the business of title insurancein this Commonwealth knows or has reasonable cause to believe that any titleinsurance agent appointed by such insurer has committed any act of larceny asprescribed in § 18.2-111 with respect to any money, bill, note, check, order,draft or other property either belonging to the insured or prospectiveinsured or received by the agent on behalf of the insured or prospectiveinsured related to that agent's provision of escrow, closing or settlementservices as defined in § 6.1-2.20, it shall be the duty of the insurer withinsixty calendar days after acquiring such knowledge to file with theCommission a complete statement of the relevant facts and circumstances. Eachstatement shall be a privileged communication, and when made and filed shallnot subject the insurer, or any individual representative of it that ismaking or filing the statement, to any liability whatsoever.
C. The Commission shall inform the attorney for the Commonwealth of theappropriate county or city of each statement filed pursuant to subsection Aor B of this section.
(1962, c. 263, § 38.1-165.1; 1986, c. 562; 1987, c. 521; 2000, c. 549; 2001,c. 706.)
