Code of Virginia - Title 38.2 Insurance - Chapter 38 Cooperative Nonprofit Life Benefit Companies

38.2-3800 Scope of chapter
This chapter applies to cooperative nonprofit life benefit companies as defined in § 38.2-3801 and to the classes of insurance and insurance benefits those companies ...

38.2-3801 Cooperative nonprofit life benefit company defined
A. Any company that (i) is organized without capital stock, (ii) has a representative form of government, (iii) conducts its business under the provisions of ...

38.2-3802 Continuation of existing companies
Any company licensed and doing business in this Commonwealth on July 1, 1952, may continue to do business in accordance with the powers contained in ...

38.2-3803 Licensing of additional companies prohibited
Any company that was not licensed and doing business in this Commonwealth on July 1, 1952, shall not be issued a license to do the ...

38.2-3804 What laws applicable
All companies shall comply with all of the provisions of this title relating to insurance companies generally. In the event of conflict between the provisions ...

38.2-3805 General powers of company; limitation on increase in rates
Each company shall make a constitution, laws or bylaws for its government, the admission of its members, the management of its affairs and the fixing ...

38.2-3806 Constitution and bylaws
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 ...

38.2-3807 Governing body; board of directors
The governing body of each company shall meet at least once every four years. Meetings of the governing body may be held in any state ...

38.2-3808 Filing copies of constitution and bylaws
Each company shall file with the Commission a duly certified copy of its constitution, laws or bylaws and all amendments or additions. Printed copies of ...

38.2-3809 How a company may become legal reserve life insurer
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 ...

38.2-3810 Institutions maintainable; company a charitable institution
Any company may maintain homes for aged members, or children's homes, hospitals or recreational centers, or any other charitable institution, and may provide for the ...

38.2-3811 Benefits not subject to process
Any money, other benefit, charity, relief or aid to be paid, provided or rendered by any company shall not be liable to attachment, garnishment or ...

38.2-3812 Tax on gross premium receipts
The officers of each company shall, at the time of making the annual statement, file with the Commission a sworn statement of its gross premium ...

38.2-3813 Suits against company
A suit or an action at law may be instituted against any company in any county or city in this Commonwealth. (Code 1950, § 38-495; ...

38.2-3814 Contracts in writing; fees
All contracts of any company for insurance or other benefits shall be in writing. No company or any of its officers or agents shall include ...

38.2-3815 What benefits policies may provide
Any company may provide for (i) stipulated premiums, (ii) death, annuity, endowment and disability benefits, and (iii) cash surrender and loan values to an amount ...

38.2-3816 Policies companies may issue; reserves required; provisions concerning increase of rates and extra ...
Any company may issue contracts of life, accident and sickness insurance or combinations of them. The reserves for such policies or contracts shall be based ...

38.2-3817 Paid-up insurance or extended term insurance
Any company shall provide for automatic paid-up or extended term insurance in the event of the default in premium payments of any contract that has ...

38.2-3818 Officers and members not individually liable for payment
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 ...