§ 38.2-1822. License required of individual and business entity agents;individual acting for business entity licensee.
A. No person shall act, and no insurer or licensed agent shall knowinglypermit a person to act, in this Commonwealth as an agent of an insurerlicensed to transact the business of insurance in this Commonwealth withoutfirst obtaining a license in a manner and in a form prescribed by theCommission. As used in this section, "act as an agent" means selling,soliciting, or negotiating contracts of insurance or annuity on behalf of aninsurer licensed in this Commonwealth or receiving or sharing, directly orindirectly, any commission or other valuable consideration arising from thesale, solicitation, or negotiation of any such contract, or both. No personshall submit business to any joint underwriting association or any planestablished under this title for the equitable distribution of risks amonginsurers unless the person holds a valid license to transact the class ofinsurance involved.
B. No individual shall act as an agent on behalf of a business entity in thetransaction of insurance unless he is licensed as an agent and appointed, ifappointment is required by statute.
C. No business entity may act as an agent in this Commonwealth unlesslicensed and appointed, if appointment is required by statute. The existenceof the business entity shall be recorded pursuant to law. The Commission mayrequire proof of the foregoing before issuing a license to the businessentity.
D. For a nonresident business entity, a certification by the insurancedepartment of the business entity's home state satisfying the requirements ofsubsection A of § 38.2-1836 shall be deemed to satisfy the foregoingrequirements.
E. In addition to the requirements of §§ 59.1-69 and 59.1-70, any individualor business entity conducting the business of insurance in this Commonwealthunder an assumed or fictitious name shall notify the Bureau of Insuranceeither at the time the application for a license to do business is filed orwithin thirty calendar days from the date the assumed or fictitious name isadopted, setting forth the name under which such business is to be conducted.
F. When the business of insurance is no longer conducted under an assumed orfictitious name, notification to the Bureau of Insurance is required withinthirty calendar days from the date of cessation of use of such assumed orfictitious name.
G. Notwithstanding any other provision in this chapter, no license shall berequired of a person whose employment responsibilities include enrollingindividuals under a group insurance policy, provided that such personreceives no commission or other valuable consideration for such enrollments,and that such compensation is in no manner contingent upon the number ofindividuals enrolled or the amount of premium generated by such enrollments.As used in this subsection "enrolling individuals" means the process ofinforming individuals of the availability of coverages, calculating theinsurance charge, assisting with completion of the enrollment application,preparing and delivering the certificate of insurance, answering questionsregarding the coverages, and assisting the individual in making an informeddecision whether or not enrollment under the group insurance plan is to beelected.
(Code 1950, § 38.1-302; 1952, c. 317; 1956, c. 172; 1979, c. 513, §38.1-327.33; 1980, c. 581; 1981, c. 604; 1985, c. 616; 1986, c. 562; 1987, c.521; 1989, c. 435; 1991, c. 88; 1994, c. 316; 1997, c. 583; 1999, c. 586;2001, c. 706; 2002, c. 456; 2008, c. 213.)
§ 38.2-1822. License required of individual and business entity agents;individual acting for business entity licensee.
A. No person shall act, and no insurer or licensed agent shall knowinglypermit a person to act, in this Commonwealth as an agent of an insurerlicensed to transact the business of insurance in this Commonwealth withoutfirst obtaining a license in a manner and in a form prescribed by theCommission. As used in this section, "act as an agent" means selling,soliciting, or negotiating contracts of insurance or annuity on behalf of aninsurer licensed in this Commonwealth or receiving or sharing, directly orindirectly, any commission or other valuable consideration arising from thesale, solicitation, or negotiation of any such contract, or both. No personshall submit business to any joint underwriting association or any planestablished under this title for the equitable distribution of risks amonginsurers unless the person holds a valid license to transact the class ofinsurance involved.
B. No individual shall act as an agent on behalf of a business entity in thetransaction of insurance unless he is licensed as an agent and appointed, ifappointment is required by statute.
C. No business entity may act as an agent in this Commonwealth unlesslicensed and appointed, if appointment is required by statute. The existenceof the business entity shall be recorded pursuant to law. The Commission mayrequire proof of the foregoing before issuing a license to the businessentity.
D. For a nonresident business entity, a certification by the insurancedepartment of the business entity's home state satisfying the requirements ofsubsection A of § 38.2-1836 shall be deemed to satisfy the foregoingrequirements.
E. In addition to the requirements of §§ 59.1-69 and 59.1-70, any individualor business entity conducting the business of insurance in this Commonwealthunder an assumed or fictitious name shall notify the Bureau of Insuranceeither at the time the application for a license to do business is filed orwithin thirty calendar days from the date the assumed or fictitious name isadopted, setting forth the name under which such business is to be conducted.
F. When the business of insurance is no longer conducted under an assumed orfictitious name, notification to the Bureau of Insurance is required withinthirty calendar days from the date of cessation of use of such assumed orfictitious name.
G. Notwithstanding any other provision in this chapter, no license shall berequired of a person whose employment responsibilities include enrollingindividuals under a group insurance policy, provided that such personreceives no commission or other valuable consideration for such enrollments,and that such compensation is in no manner contingent upon the number ofindividuals enrolled or the amount of premium generated by such enrollments.As used in this subsection "enrolling individuals" means the process ofinforming individuals of the availability of coverages, calculating theinsurance charge, assisting with completion of the enrollment application,preparing and delivering the certificate of insurance, answering questionsregarding the coverages, and assisting the individual in making an informeddecision whether or not enrollment under the group insurance plan is to beelected.
(Code 1950, § 38.1-302; 1952, c. 317; 1956, c. 172; 1979, c. 513, §38.1-327.33; 1980, c. 581; 1981, c. 604; 1985, c. 616; 1986, c. 562; 1987, c.521; 1989, c. 435; 1991, c. 88; 1994, c. 316; 1997, c. 583; 1999, c. 586;2001, c. 706; 2002, c. 456; 2008, c. 213.)
§ 38.2-1822. License required of individual and business entity agents;individual acting for business entity licensee.
A. No person shall act, and no insurer or licensed agent shall knowinglypermit a person to act, in this Commonwealth as an agent of an insurerlicensed to transact the business of insurance in this Commonwealth withoutfirst obtaining a license in a manner and in a form prescribed by theCommission. As used in this section, "act as an agent" means selling,soliciting, or negotiating contracts of insurance or annuity on behalf of aninsurer licensed in this Commonwealth or receiving or sharing, directly orindirectly, any commission or other valuable consideration arising from thesale, solicitation, or negotiation of any such contract, or both. No personshall submit business to any joint underwriting association or any planestablished under this title for the equitable distribution of risks amonginsurers unless the person holds a valid license to transact the class ofinsurance involved.
B. No individual shall act as an agent on behalf of a business entity in thetransaction of insurance unless he is licensed as an agent and appointed, ifappointment is required by statute.
C. No business entity may act as an agent in this Commonwealth unlesslicensed and appointed, if appointment is required by statute. The existenceof the business entity shall be recorded pursuant to law. The Commission mayrequire proof of the foregoing before issuing a license to the businessentity.
D. For a nonresident business entity, a certification by the insurancedepartment of the business entity's home state satisfying the requirements ofsubsection A of § 38.2-1836 shall be deemed to satisfy the foregoingrequirements.
E. In addition to the requirements of §§ 59.1-69 and 59.1-70, any individualor business entity conducting the business of insurance in this Commonwealthunder an assumed or fictitious name shall notify the Bureau of Insuranceeither at the time the application for a license to do business is filed orwithin thirty calendar days from the date the assumed or fictitious name isadopted, setting forth the name under which such business is to be conducted.
F. When the business of insurance is no longer conducted under an assumed orfictitious name, notification to the Bureau of Insurance is required withinthirty calendar days from the date of cessation of use of such assumed orfictitious name.
G. Notwithstanding any other provision in this chapter, no license shall berequired of a person whose employment responsibilities include enrollingindividuals under a group insurance policy, provided that such personreceives no commission or other valuable consideration for such enrollments,and that such compensation is in no manner contingent upon the number ofindividuals enrolled or the amount of premium generated by such enrollments.As used in this subsection "enrolling individuals" means the process ofinforming individuals of the availability of coverages, calculating theinsurance charge, assisting with completion of the enrollment application,preparing and delivering the certificate of insurance, answering questionsregarding the coverages, and assisting the individual in making an informeddecision whether or not enrollment under the group insurance plan is to beelected.
(Code 1950, § 38.1-302; 1952, c. 317; 1956, c. 172; 1979, c. 513, §38.1-327.33; 1980, c. 581; 1981, c. 604; 1985, c. 616; 1986, c. 562; 1987, c.521; 1989, c. 435; 1991, c. 88; 1994, c. 316; 1997, c. 583; 1999, c. 586;2001, c. 706; 2002, c. 456; 2008, c. 213.)
