{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-1005.1_6.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-1005.1_6.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-1005.1_6.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-1005.1_6.html"}],"law_id":53995,"edition_id":1,"section_id":53995,"structure_id":12859,"section_number":"38.2-1005.1:6","catch_line":"Corporate existence","history":"2001, c. 726.","full_text":"A\n\nUpon conversion of a mutual company to a converted company in accordance with the provisions of this article, the corporate existence of the mutual company shall be continued in the converted company with the original date of incorporation of the mutual company. All rights, franchises and interests of the mutual company in and to any type of property, real, personal, mixed, tangible or intangible, held immediately prior to the effective date of the conversion shall be deemed transferred to and vested in the converted company without further act or deed. Simultaneously, the converted company shall be deemed to have assumed all obligations and liabilities of the mutual company that existed immediately prior to the conversion.B\n\nUnless otherwise provided in the plan of MHC conversion, the directors and officers of the mutual company shall serve as the directors and officers of the converted company until new directors and officers of the converted company are elected in accordance with the articles of incorporation and bylaws of the converted company.","order_by":null,"text":{"0":{"id":198262,"text":"Upon conversion of a mutual company to a converted company in accordance with the provisions of this article, the corporate existence of the mutual company shall be continued in the converted company with the original date of incorporation of the mutual company. All rights, franchises and interests of the mutual company in and to any type of property, real, personal, mixed, tangible or intangible, held immediately prior to the effective date of the conversion shall be deemed transferred to and vested in the converted company without further act or deed. Simultaneously, the converted company shall be deemed to have assumed all obligations and liabilities of the mutual company that existed immediately prior to the conversion.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":198263,"text":"Unless otherwise provided in the plan of MHC conversion, the directors and officers of the mutual company shall serve as the directors and officers of the converted company until new directors and officers of the converted company are elected in accordance with the articles of incorporation and bylaws of the converted company.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":12859,"edition_id":1,"name":"Formation of Mutual Insurance Holding Company; Conversion of Mutual Holding Company to Stock Holding 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03:43:49","permalink":{"id":210661,"object_type":"structure","relational_id":12698,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":56902,"structure_id":12859,"section_number":"38.2-1005.1:1","catch_line":"Definitions","url":"\/38.2-1005.1_1\/","token":"38.2\/10\/1.1\/38.2-1005.1_1","metadata":false},{"id":64846,"structure_id":12859,"section_number":"38.2-1005.1:10","catch_line":"Conflicts of interest","url":"\/38.2-1005.1_10\/","token":"38.2\/10\/1.1\/38.2-1005.1_10","metadata":false},{"id":76203,"structure_id":12859,"section_number":"38.2-1005.1:11","catch_line":"Costs and expenses","url":"\/38.2-1005.1_11\/","token":"38.2\/10\/1.1\/38.2-1005.1_11","metadata":false},{"id":77766,"structure_id":12859,"section_number":"38.2-1005.1:12","catch_line":"Failure to give 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of mutual holding company","url":"\/38.2-1005.1_9\/","token":"38.2\/10\/1.1\/38.2-1005.1_9","metadata":false}],"previous_section":{"id":81727,"structure_id":12859,"section_number":"38.2-1005.1:5","catch_line":"Adoption and approval of plan of MHC conversion","url":"\/38.2-1005.1_5\/","token":"38.2\/10\/1.1\/38.2-1005.1_5","metadata":false},"next_section":{"id":66932,"structure_id":12859,"section_number":"38.2-1005.1:7","catch_line":"Regulation and authority of a mutual holding company","url":"\/38.2-1005.1_7\/","token":"38.2\/10\/1.1\/38.2-1005.1_7","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1005.1:6\/","history_text":"

This law was first created in 2001. The record of its establishment is cataloged in chapter 726<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":false,"permalink":{"id":210921,"object_type":"law","relational_id":53995,"identifier":"38.2-1005.1:6","token":"38.2\/10\/1.1\/38.2-1005.1_6","url":"\/38.2-1005.1_6\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-1005.1_6\/","token":"38.2\/10\/1.1\/38.2-1005.1_6","dublin_core":{"Title":"Corporate existence","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1005.1:6","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Upon conversion of a mutual company<\/span> to a converted company<\/span> in accordance with the provisions of this article, the corporate existence of the mutual company<\/span> shall be continued in the converted company<\/span> with the original date of incorporation of the mutual company<\/span>. All rights, franchises and interests of the mutual company<\/span> in and to any type of property, real, personal, mixed, tangible or intangible, held immediately prior to the effective date of the conversion shall be deemed transferred to and vested in the converted company<\/span> without further act or deed. Simultaneously, the converted company<\/span> shall be deemed to have assumed all obligations and liabilities of the mutual company<\/span> that existed immediately prior to the conversion. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Unless otherwise provided in the plan of MHC conversion<\/span>, the directors and officers of the mutual company<\/span> shall serve as the directors and officers of the converted company<\/span> until new directors and officers of the converted company<\/span> are elected in accordance with the articles of incorporation and bylaws of the converted company<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCORPORATE EXISTENCE (\u00a7 38.2-1005.1:6)\n\nA. Upon conversion of a mutual company to a converted company in accordance with\nthe provisions of this article, the corporate existence of the mutual company\nshall be continued in the converted company with the original date of\nincorporation of the mutual company. All rights, franchises and interests of the\nmutual company in and to any type of property, real, personal, mixed, tangible\nor intangible, held immediately prior to the effective date of the conversion\nshall be deemed transferred to and vested in the converted company without\nfurther act or deed. Simultaneously, the converted company shall be deemed to\nhave assumed all obligations and liabilities of the mutual company that existed\nimmediately prior to the conversion.\n\nB. Unless otherwise provided in the plan of MHC conversion, the directors and\nofficers of the mutual company shall serve as the directors and officers of the\nconverted company until new directors and officers of the converted company are\nelected in accordance with the articles of incorporation and bylaws of the\nconverted company.\n\nHISTORY: 2001, c. 726.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}