Section 360. Refusal to qualify agent to sell variable life insurance: suspension, revocation, or nonrenewal of qualification

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The Commission may reject any application or suspend or revoke or refuse to renew any agent's qualification under this article to sell or offer to sell variable life insurance upon any ground that would bar such applicant or such agent from being licensed to sell other life insurance contracts in this Commonwealth. The rules governing any proceeding relating to the suspension or revocation of any agent's license shall also govern any preceeding for suspension or revocation of an agent's qualification to sell or to offer to sell variable life insurance.

Historical Notes

Derived from Regulation 26, Case No. INS920077, Article XII, § 3, eff. June 15, 1992.

Statutory Authority

§§ 12.1-13 and 38.2-3313 of the Code of Virginia.

                    
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