Chap. 448.—An ACT to provide for a study by the Virginia Advisory Legislative
Council of the insurance laws of Virginia; and to appropriate to the Vir-
ginia Advisory Legislative Council certain funds to carry out such me ea

Approved April 1, 1948

Be it enacted by the General Assembly of Virginia:

1. Section 1. The Virginia Advisory Legislative Council is hereby
authorized and directed to make a thorough and complete study of the
provisions of the insurance laws of the Commonwealth of Virginia in
order to determine whether or not a revision, simplification, or recodifi-
cation thereof and the elimination of obsolete matter therein, is necessary
to provide for proper and adequate supervision and regulation of the
organization, licensing, and solvency of insurance carriers, of their
officers, agents, employees, and other representatives, and of the conduct
of the insurance business generally in this State.

Section 2. The Council shall submit to the Governor and the
General Assembly, at least sixty days prior to the next regular session
of the General Assembly, a report of its findings and recommendations,
together with suggested legislation necessary to carry such recommen-
dations into effect.

Section 3. The Council is authorized to expend funds made avail-
able to it for the study herein directed for the purpose of paying the per
diem and expenses of members of the Council, and expenses of members
of committees selected by it, when engaged in duties incident to the
conduct of such study, as well as salaries and expenses of employees of
the Council engaged in such studies and other expenses of the Council
properly chargeable thereto.

2. There is hereby appropriated to the Virginia Advisory Legislative
Council, to be paid out of the fees, licenses and taxes levied and collected
for the payment of the expenses incurred in supervising and inspecting
concerns conducting an insurance business in Virginia, to be used solely
in the conduct of the study herein directed, the sum of ten thousand
dollars, or so much thereof as shall be necessary. Any balance of such
funds remaining unexpended at the end of the biennium ending June
thirty, nineteen hundred fifty shall revert to the special fund from which
appropriated.