Virginia Code 38.2-1005.1:11: Costs and expenses.
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All costs and expenses incurred in connection with a plan of MHC conversion shall be paid either by the mutual company or the converted company.
Terms Used In Virginia Code 38.2-1005.1:11
- Company: means any association, aggregate of individuals, business, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
- Converted company: means a stock insurance company incorporated and organized under the laws of this Commonwealth that continues in existence after a reorganization under this article in connection with the formation of a mutual holding company. See Virginia Code 38.2-1005.1:1
- MHC: means a corporation organized under the provisions of the Virginia Nonstock Corporation Act (§ Virginia Code 38.2-1005.1:1
- plan: means a plan adopted pursuant to this article by the board of directors of a mutual company for the conversion of a mutual company into a direct or indirect stock subsidiary of a mutual holding company. See Virginia Code 38.2-1005.1:1
2001, c. 726.