Additional licensing requirements for mutual insurers

Va. Code Ann. § 38.2-1029
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
No mutual insurer shall be licensed to transact the business of insurance in this Commonwealth unless it has a surplus of at least $1,600,000. Code 1950, § 38-514; 1952, c. 317, § 38.1-94; 1966, c. 580; 1978, c. 20; 1986, c. 562; 1991, c. 261.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/38.2-1029/Fetched: 10/16/2026

Starting a business in Virginia? Virginia LLC guide: costs and requirements