§ 38.2-1005.1:3. Mutual holding company membership interest
A. A member of a mutual holding company shall not transfer membership in the company or any right arising from membership.
B. A member of a mutual holding company shall not, as a member, be personally liable for or subject to assessment on account of any act, debt, liability or obligation of the MHC or of any entity owned or controlled by the MHC.
C. A membership interest in a mutual holding company shall not constitute a security under the laws of the Commonwealth.
(2001, c. 726.)Sections: Previous 38.2-1002 38.2-1003 38.2-1004 38.2-1005 38.2-1005.1 38.2-1005.1:1 38.2-1005.1:2 38.2-1005.1:3 38.2-1005.1:4 38.2-1005.1:5 38.2-1005.1:6 38.2-1005.1:7 38.2-1005.1:8 38.2-1005.1:9 38.2-1005.1:10 Next
Last modified: April 3, 2009