Virginia § 38.2-1504 - Requirements when proceedings instituted by any person other than Commission
Full text of Virginia Code of Virginia § 38.2-1504 — Requirements when proceedings instituted by any person other than Commission, with citation guidance and answers to common questions.
§ 38.2-1504. Requirements when proceedings instituted by any person other than Commission
A. No circuit court in this Commonwealth shall appoint a receiver for any domestic insurer on application of any person other than the Commission until:
1. The applicant has presented to the Commission a copy of a bill in equity for receivership and has given reasonable notice to the affected insurer that a copy of the bill has been presented to the Commission.
2. The affected insurer has been given ten days after the service of this notice to present to the Commission a copy of the answer that it proposes to file.
3. The Commission has investigated the merits of the application for receivership and has held a hearing on the results of the investigation. The Commission shall act within a reasonable period of time.
4. Within a reasonable time after completing its investigation, the Commission shall make a recommendation to the proper court regarding the appointment of the proposed receiver.
B. The court shall appoint or refuse to appoint the proposed receiver after considering the merits of the application for a receiver.
1952, c. 317, § 38.1-130; 1986, c. 562.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 38.2-1504
What does Code of Virginia § 38.2-1504 cover?
Section 38.2-1504 ("Requirements when proceedings instituted by any person other than Commission") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 38.2-1504?
A common citation format is "Code of Virginia § 38.2-1504" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 38.2-1504 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.