Any company filing with the Commission a resolution of its board of directors or similar body, or of its legislative body, making a request to become a legal reserve life insurer, upon submitting proof satisfactory to the Commission that the request is properly authorized and that the condition of its business qualifies it under the laws of this Commonwealth to be classed as a legal reserve life insurer, shall become a legal reserve life insurer under the name and the plan provided by proper amendment of its charter or certificate of incorporation.
Code 1950, § 38-477; 1952, c. 317, § 38.1-507; 1986, c. 562.
Structure Code of Virginia
Chapter 38 - Cooperative Nonprofit Life Benefit Companies
§ 38.2-3801. Cooperative nonprofit life benefit company defined
§ 38.2-3802. Continuation of existing companies
§ 38.2-3803. Licensing of additional companies prohibited
§ 38.2-3804. What laws applicable
§ 38.2-3805. General powers of company; limitation on increase in rates
§ 38.2-3806. Constitution and bylaws
§ 38.2-3807. Governing body; board of directors
§ 38.2-3808. Filing copies of constitution and bylaws
§ 38.2-3809. How a company may become legal reserve life insurer
§ 38.2-3810. Institutions maintainable; company a charitable institution
§ 38.2-3811. Benefits not subject to process
§ 38.2-3812. Tax on gross premium receipts
§ 38.2-3813. Suits against company
§ 38.2-3814. Contracts in writing; fees
§ 38.2-3815. What benefits policies may provide
§ 38.2-3817. Paid-up insurance or extended term insurance
§ 38.2-3818. Officers and members not individually liable for payment