Va. Code § 38.2-701: When director of a domestic insurer may be a director of another insurer

Any domestic insurer may have a director who is also a director of another domestic, foreign or alien insurer, unless the effect thereof (i) substantially lessens competition generally or (ii) tends to create a monopoly, in the business of insurance.1952, c. 317, § 38.1-59; 1986, c. 562.