A membership interest in a mutual insurance holding company is not a security under the laws of this state. No member of a mutual insurance holding company may transfer membership in the mutual insurance holding company or any right arising from membership.
Structure West Virginia Code
Article 27A. West Virginia Mutual to Mutual Insurance Holding Company Act
§33-27A-4. Voting Rights of Mutual Policyholders Regarding Reorganization; Notice of Public Hearing
§33-27A-5. Review of Plan by Insurance Commissioner; Filing Requirements
§33-27A-6. Amending Articles of Incorporation of Mutual Holding Company
§33-27A-7. Corporate Existence of Mutual Company Continue in Recognized Stock Company
§33-27A-8. Payment of Costs and Expenses of Reorganization
§33-27A-9. Reorganization of Mutual Company
§33-27A-10. Membership Interest in Mutual Company
§33-27A-11. Applicability of Other Laws
§33-27A-12. Holding Company Treated as Insurer