Va. Code § 38.2-230

Current with changes from the 2024 legislative session through ch. 845

Section 38.2-230 - Distributions by nonstock corporation

No dividend or distribution of income, as used in § 13.1-814, shall be made to a member corporation of a corporation licensed under the provisions of this title unless the corporation has received approval by the Commission prior to the distribution. In approving the distribution, the Commission shall give consideration to the subscribers' or policyholders' best interest.

Va. Code § 38.2-230

1985, c. 380, § 38.1-39.1; 1986, c. 562.

Amended by Acts 1986, § c. 562.

Amended by Acts 1985, § c. 380, §38.1-39.1.