Chap. 20.—An ACT to amend and re-enact section 4180 of the Code of Virginia.
[H B 16]
Approved February 10, 1920.

1. Be it enacted by the general assembly of Virginia, That section
forty-one hundred and eighty of the Code of Virginia be amended and
re-enacted so as to read as follows:

Sec. 4180. Companies insolvent or violating law to be reported to
corporation commission; hearing thereon; when license or authoritv
revoked ; plea; publication of judgment; new business stopped ; report
to be secret—If the commissioner of insurance is of the opinion from
any such examination, or from any other evidence or information
coming to his knowledge, that any foreign, alien or domestic insurance
company or that any foreign, alien or domestic guaranty, indemnity,
fidelity, security, or other like company, doing business in this State,
is in an insolvent condition, or that it has failed to comply with the
law; or, if any such company, or its officers, or agents, refuses to
submit to the examination in this chapter provided, or to furnish
satisfactory evidence of its financial and business standing, or sol-
vency, or refuses to perform any lawful requirements imposed by the
laws of this State, he shall, subject to the approval of the State cor-
poration commission, if such company 1s a foreign or alien company,
and an applicant for a license to transact business in this State, or if a
domestic company, and an applicant for a certificate of authority
to commence or transact business in this State, refuse such license
or certificate of authority, as the case may be; and if it be a foreign
or alien company already licensed and permitted to do business in
this State, or a domestic company already authorized to commence
and transact business in this State, the commissioner of insurance shall
immediately report the same to the State corporation commission,
who shall give ten days’ notice to any such company to appear before
the said commission to be heard upon the subject matter of the said
report, and shall be afforded an opportunity to introduce evidence and
to be heard in reference thereto; and, if upon such hearing the State
corporation commission shall be of the opinion that the subject mat-
ter of the said report is sustained, it shall revoke or suspend, as may
seem to the commission proper under the circumstances of the case
if a foreign or alien company, its license, and if a domestic company,
its certificate of authority, to transact business in this State, and shall
on final judgment, unless an appeal be taken in sixty days, cause noti-
fication thereto to be published in one or more newspapers published
in this State, and no new business shall thereafter be done by any such
company, or its agents, while such order revoking or suspending its
license or certificate of authority to do business in this State snall be
in force, nor until its license or authority to do business is restored
by the State corporation commission. The report hereinbefore di-
rected to be made by the commissioner of insurance to the State cor-
poration commission shall not be divulged or disclosed except by the
order of the commission. From the action of the commission refusing,
revoking or suspending the license or certificate of authority to do
business in this State of any company of the classes mentioned in this
section, there shall be an appeal to the supreme court of appeals of
this State, as provided in section thirty-seven hundred and thirty-four
of this Code.

2. An emergency existing, this act shall be in force from its
passage. :