38.2-230 - Distributions by nonstock corporation.
§ 38.2-230. Distributions by nonstock corporation.
No dividend or distribution of income, as used in § 13.1-814, shall be madeto a member corporation of a corporation licensed under the provisions ofthis title unless the corporation has received approval by the Commissionprior to the distribution. In approving the distribution, the Commissionshall give consideration to the subscribers' or policyholders' best interest.
(1985, c. 380, § 38.1-39.1; 1986, c. 562.)