Virginia Administrative Code (Last Updated: January 10, 2017) |
Title 14. Insurance |
Agency 5. State Corporation Commission, Bureau of Insurance |
Chapter 395. Rules Governing Settlement Agents |
Section 30. Registration
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A. Every settlement agent shall register with the bureau in accordance with the provisions of § 55-525.30 of the Code of Virginia.
B. At the time of application for registration, a settlement agent other than a title insurance company shall provide to the bureau (i) its certificate of authorization or charter of a domestic limited liability company or corporation, or certificate of registration or certificate of authority of a foreign limited liability company or corporation, as applicable; (ii) an original surety bond; and (iii) the name of the designated licensed producer.
C. Within 30 days of registration a settlement agent shall furnish to the bureau:
1. Legal name;
2. Any fictitious or assumed names;
3. Principal place of business address;
4. Addresses of all other business locations;
5. Telephone numbers;
6. Escrow account numbers and financial institution addresses;
7. Employee and independent contractor list;
8. Website or websites;
9. Affiliated entities; and
10. Such other information as the bureau may require.
Historical Notes
Derived from Volume 13, Issue 25, eff. September 15, 1997; amended, Virginia Register Volume 14, Issue 26, eff. August 20, 1998; Volume 18, Issue 21, eff. June 3, 2002; Volume 26, Issue 11, eff. January 25, 2010; Volume 27, Issue 04, eff. October 25, 2010; Volume 32, Issue 22, eff. July 1, 2016.