GroundRules
Va. Code § 38.2-1005.1:3: Mutual holding company membership interest
Where this section sits in the code
- Title 38.2. INSURANCE
- Chapter 10. ORGANIZATION, ADMISSION AND LICENSING OF INSURERS
- Article 1.1. FORMATION OF MUTUAL INSURANCE HOLDING COMPANY; CONVERSION OF MUTUAL HOLDING COMPANY TO STOCK HOLDING COMPANY
A. A member of a mutual holding company shall not transfer membership in the company or any right arising from membership.B. A member of a mutual holding company shall not, as a member, be personally liable for or subject to assessment on account of any act, debt, liability or obligation of the MHC or of any entity owned or controlled by the MHC.C. A membership interest in a mutual holding company shall not constitute a security under the laws of the Commonwealth.2001, c. 726.
Collected 2026-09-04T15:16:05Z. Source file · JSON