{"data":{"id":"us-va/va.-code-38.2-1005.1-3","jurisdiction":"us-va","citation":"Va. Code § 38.2-1005.1:3","heading":"Mutual holding company membership interest","body":"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.","path":["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"],"source_url":"https://law.lis.virginia.gov/vacode/38.2-1005.1:3/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:16:05Z","sha256":"56d9d6d9e678c7b803be70bdc7be08add6a860beed0616db8aed1cf42e08c21d","source_id":"us-va","stale":true,"prev":"us-va/va.-code-38.2-1005.1-2","next":"us-va/va.-code-38.2-1005.1-4"},"notice":"GroundRules: Original legal text. Not legal advice."}