Virginia § 38.2-4130 - Injunction; liquidation; receivership of domestic society
Full text of Virginia Code of Virginia § 38.2-4130 — Injunction; liquidation; receivership of domestic society, with citation guidance and answers to common questions.
§ 38.2-4130. Injunction; liquidation; receivership of domestic society
No domestic society shall:
1. Exceed its powers;
2. Fail to comply with any provisions of this chapter;
3. Fail to fulfill its contracts in good faith;
4. Have a membership of less than 400 after an existence of 1 year or more; or
5. Conduct business fraudulently or in a manner hazardous to its members, creditors, the public or the business.
If the Commission, upon investigation, finds such deficiencies, it shall issue a written notice to the society citing the deficiencies, stating the reasons for dissatisfaction, and requiring that the deficiencies be corrected within the period it designates. The period shall be at least thirty days but not more than six months from the service of the notice. If the Commission believes the interest of the certificate holders of the society will be best served by extending the period of time beyond six months, it may do so for the period of time it considers best. If the society does not correct the deficiency to the satisfaction of the Commission, the Commission may institute delinquency proceedings against the society in the manner set out in Chapter 15 (§ 38.2-1500 et seq.) of this title. If the Commission institutes a delinquency proceeding, all the provisions of Chapter 15 of this title with respect to the rehabilitation, liquidation, conservation and reorganization of insurers generally shall be applicable to the society.
Code 1950, §§ 38-261, 38-275, 38-319, 38.1-592, 38.1-628; 1952, c. 317, §§ 38.1-638.24, 38.1-638.49; 1968, c. 654; 1986, c. 562.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 38.2-4130
What does Code of Virginia § 38.2-4130 cover?
Section 38.2-4130 ("Injunction; liquidation; receivership of domestic society") 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 § 38.2-4130?
A common citation format is "Code of Virginia § 38.2-4130" (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 § 38.2-4130 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.