Chap. 264.—An ACT to amend and re-enact section 4235 of the Code of Virginia,
as amended by chapter 514 of the acts of assembly of 1922, page 804, as te
filing list of agents of insurance companies. [H B 278}

Approved March 19, 1928

1. Be it enacted by the general assembly of Virginia, that section
forty-two hundred and thirty-five of the Code of Virginia, as amended
by chapter five hundred and fourteen of the acts of assembly of nine-
teen hundred and twenty-two, page eight hundred and ninety-four, be
amended and re-enacted so as to read as follows:

Section 4235. Every insurance company, except fraternal beneficiary
associations, orders or societies, doing business in this State shall file
annually with the State corporation commission, on or before the first
day of July, and at such other times as they may be appointed. a list ot
the agents of said company, authorized to solicit insurance for it in the
State of Virginia, and each such agent shall be required to secure a
certificate of registration from said commission, for each company
proposed to be represented by him, authorizing him to represent said
company for a period ending on the fifteenth day of July of each
year, the fee for said registration shall be one dollar per annum; but the
commission may, for good cause, refuse to register such agent, or may,
at any time that it may come to its knowledge that any agent has mis-
appropriated any premium entrusted to him, or has failed to apply
said premium as directed by the policyholder or prospective policy-
holder, or has been guilty of rebating, twisting the policies of other
companies, or misrepresenting the provisions of the policy he is selling.
or of the policies of other companies, or has violated any of the pro-
visions of section forty-two hundred and twenty-two of the Code at
Virginia, revoke or suspend the certificate of registration of said agent.
The commission may summon witnesses against any agent accused ot
wrongdoing and any registered agent may have a hearing betore the
commission on any charge brought against him and may introduce
evidence in his behalf : but if the conunission revokes or suspends the
certificate of registration of any agent, then such agent may, as a matter
of right, appeal to the supreme court of appeals from such final order
as the commission may make, with reference thereto.
The certificate of registration shall state the date on which it was
ssued, the name of the agent, and his address, and the name of the
‘company represented by him, and shall extend only to the individual
nentioned in it, and not to any clerk or emplovee of said agent.

Before the commission shall issue a certificate of registration to
inv person who has not heretofore received such a certificate, it shall
‘equire the company desiring to appoint such person as its agent to
olicit insurance for it in this State, to certify by an executive officer or
nanaging agent thereof, that such company has duly investigated the
tharacter and record of such person, and satisfied itself that he ts trust-
worthy to act as its agent and intends to act in good faith as an imsur-
ince agent; and the commission may, by such independent investigation
aS it may deem proper or neceSsary, satisfy itself that an applicant for
registration is trustworthy and has sufficient knowledge of the business
ot insurance to intelligently conduct the same.

‘Any person soliciting or producing applications for any insurance
‘company authorized to do business in this State without having first
procured a certificate of registration as hereinbefore prescribed shall
be subject to a fine of not less than ten dollars nor more than one
hundred dollars.

This section shall not apply to mutual fire insurance companies
conducting business exclusively in this State and on a strictly mutual
plan which pays its losses wholly from assessments upon its members
and makes no division or distribution of its earnings or profits among
its members.

The fees provided for in this section shall be collected by the com-
mission and shall be paid directly into the general funds of the
treasury of the Commonwealth