1. A. If the commissioner has reason to believe that compliance with a cooperative agreement no longer meets the requirements of § 15.2-5384.1 of the Code of Virginia or this chapter, the commissioner shall initiate a proceeding pursuant to § 2.2-4019 of the Code of Virginia to determine whether compliance with the cooperative agreement no longer meets those requirements.
2. B. During the proceeding, the commissioner may seek reasonable modifications to a letter authorizing cooperative agreement with the consent of the parties.

3. C. The commissioner may revoke a letter authorizing cooperative agreement upon finding that:

   1. 1. The parties are not complying with the terms or conditions of the cooperative agreement or the letter authorizing cooperative agreement;
   2. 2. The cooperative agreement is not in substantial compliance with the terms of the parties' application or the letter authorizing cooperative agreement;
   3. 3. The benefits resulting from the cooperative agreement no longer outweigh the disadvantages attributable to the reduction in competition resulting from the cooperative agreement;
   4. 4. The commissioner's approval was obtained as a result of intentional material misrepresentation to the commissioner or as the result of coercion, threats, or intimidation toward any party to the cooperative agreement; or
   5. 5. The parties have failed to pay any required fee.
4. D. The proceeding initiated by the commissioner under this section, and any judicial review thereof, shall be held in accordance with and governed by the Virginia Administrative Process Act (§ 2.2-4000 et seq. of the Code of Virginia).

Statutory Authority

§ 32.1-12 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 34, Issue 1, eff. October 20, 2017; amended, Virginia Register Volume 42, Issue 8, eff. January 15, 2026.