§ 38.2-3806 — Constitution and bylaws

Virginia § 38.2-3806

• Jurisdiction: Virginia
• Title 38.2: INSURANCE
• Ch. 38: COOPERATIVE NONPROFIT LIFE BENEFIT COMPANIES
• Art. 1: General Provisions

Text

Each company shall provide in its constitution, laws or bylaws for:

1. A representative form of government for the management of the company, to be carried on either with or without a lodge, or with membership in the lodge optional;

2. A legislative or governing body composed of its officers and representatives to be elected either by the adult members or by delegates elected directly or indirectly by the adult members; and

3. The manner of selecting representatives of the members for membership in its legislative body.

Legislative History

Code 1950, § 38-479; 1952, c. 317, § 38.1-504; 1986, c. 562.