State Codes and Statutes
Statutes > Virginia > Title-6-1 > Chapter-4-1 > 6-1-226-10§ 6.1-226.10. (Repealed effective October 1, 2010) Supervision, reports andexaminations by State Corporation Commission.
(1) The corporation shall be subject to supervision and annual examination bythe Commission. The cost of each examination shall be paid by thecorporation. The corporation shall file annually by such time and in suchform as the Commission prescribes a statement showing its financial conditionon December 31, of the previous year.
(2) In addition to the annual statement, the Commission from time to time mayrequire the corporation to file such further reports, exhibits or statementsas it deems necessary to furnish full information concerning the condition,solvency, transactions and affairs of the corporation. The Commission shallprescribe the time within which such additional reports, exhibits orstatements shall be filed and may require verification by such officers ofthe corporation as it may designate.
(3) Whenever the Commission deems it expedient to do so, it may make ordirect to be made additional examinations of the affairs of the corporation,the cost of which shall be paid by the corporation. Upon completion of anexamination a copy of the report thereof shall be furnished to thecorporation.
(1974, c. 587.)
