Home/Virginia/Statutes/Title 38.2: INSURANCE/Ch. 38: COOPERATIVE NONPROFIT LIFE BENEFIT COMPANIES/Art. 1: General Provisions/§ 38.2-3801
Virginia Statutes

§ 38.2-3801 — Cooperative nonprofit life benefit company defined

Virginia § 38.2-3801
JurisdictionVirginia
Title 38.2INSURANCE
Ch. 38COOPERATIVE NONPROFIT LIFE BENEFIT COMPANIES
Art. 1General Provisions

This text of Virginia § 38.2-3801 (Cooperative nonprofit life benefit company defined) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Va. Code Ann. § 38.2-3801 (2026).

Text

A.Any company that (i) is organized without capital stock, (ii) has a representative form of government, (iii) conducts its business under the provisions of this chapter without profit and for the sole benefit of its members and their beneficiaries, (iv) issues benefit certificates or policies of life insurance, annuities, or accident and sickness insurance, or any combination of those classes of insurance, upon its members, and (v) maintains the reserves required in this chapter on all contracts issued by it to its members, shall be a cooperative nonprofit life benefit company.
B.As used in this chapter, "company" means a cooperative nonprofit life benefit company as defined in subsection A of this section.

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Legislative History

Code 1950, § 38-467; 1952, c. 317, § 38.1-497; 1986, c. 562.

Nearby Sections

15
§ 38.2-100
Definitions
§ 38.2-100.1
Certified mail; subsequent mail or notices may be sent by regular mail
§ 38.2-1000
Incorporation of domestic stock insurers
§ 38.2-1001
Incorporation of domestic mutual insurers
§ 38.2-1002
Additional requirements of articles of incorporation; name
§ 38.2-1003
When corporate status attained; bylaws filed with Commission
§ 38.2-1004
Voting
§ 38.2-1005
Certain mutual companies and societies not to become stock companies without approval of Commission
§ 38.2-1005.1
Conversion of a domestic mutual insurer to a domestic stock insurer
§ 38.2-1005.1:1
Definitions
§ 38.2-1005.1:10
Conflicts of interest
§ 38.2-1005.1:11
Costs and expenses
§ 38.2-1005.1:12
Failure to give notice
§ 38.2-1005.1:13
Limitation on actions
§ 38.2-1005.1:2
Formation of mutual holding company and conversion of mutual company
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Bluebook (online)
Virginia § 38.2-3801, Counsel Stack Legal Research, https://law.counselstack.com/statute/va/38.2/38.2-3801.