Virginia Code 38.2-4710: Penalty for engaging in business without license
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Any person engaging in the business of financing insurance premiums in this Commonwealth without obtaining a license as required under this chapter shall be subject to a fine of not more than $100 for each day that person operates without a license. The fine shall be imposed and judgment entered by the Commission after ten days’ notice has been given to the defendant by rule to show cause.
Terms Used In Virginia Code 38.2-4710
- Commission: means the State Corporation Commission. See Virginia Code 38.2-100
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
1964, c. 147, § 38.1-744; 1986, c. 562.