The State Corporation Commission in the State of Virginia is structured as a unique and
independent governmental organization. It is responsible for balancing the
concerns and interests of businesses and consumers by regulating the economic sector in Virginia.
The State Corporation Commission seeks to
ensure that all laws and regulations are upheld in order to achieve the
satisfaction of both corporations and customers. The Commission is also responsible for creating and employing new
legislation necessary to effectively regulate technological and economic
If consumers are involved in disputes with
corporations, it is the State Corporation Commission that is responsible for
assisting these individuals. In addition, the Commission must ensure that all individuals who are being
investigated by the organization are granted due process of law.
All businesses that wish to operate in
Virginia must file with the State Corporation Commission. This organization
regulates many different types of businesses, including insurance companies and
utility providers. The Commission licenses, examines, and investigates
these companies, as well as regulates investment advisers and brokers. In the
event that a case emerges involving utilities, the Commission will provide financial information.
The Commission is also
responsible for assessing property owned by public service organizations for
taxation purposes. This organization conducts extensive research regarding the
state of the economy, as well as financial complications involving public
utilities. One of the primary duties of the State Corporation Commission is to
protect consumers by employing all State business laws.