Officers and members of the supreme, grand or any subordinate body of any company shall not be individually liable for the payment of any disability or death or other benefits provided for in the laws, bylaws and contracts of the company. Benefits shall be payable out of the funds of the company and in the manner provided by its laws and bylaws.
Code 1950, § 38-487; 1952, c. 317, § 38.1-519; 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