{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-4109.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-4109.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-4109.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-4109.html"}],"law_id":59432,"edition_id":1,"section_id":59432,"structure_id":13995,"section_number":"38.2-4109","catch_line":"Organization of domestic society on or after October 1, 1986","history":"Code 1950, \u00a7\u00a7 38-264 through 38-268, 38.1-582 through 38.1-587; 1952, c. 317, \u00a7\u00a7 38.1-638.14 through 38.1-638.19; 1968, c. 654; 1975, c. 262; 1986, c. 562; 2013, c. 751.","full_text":"A\n\nOn or after October 1, 1986, seven or more citizens of the United States, a majority of whom are citizens of this Commonwealth, who desire to form a fraternal benefit society, may make, sign and acknowledge before some officer competent to take acknowledgement of deeds, articles of incorporation, which shall state:1\n\nThe proposed corporate name of the society, which shall not so closely resemble the name of any other society or insurer as to be misleading or confusing;2\n\nThe purposes for which it is being formed and the mode in which its corporate powers are to be exercised. Such purposes shall not include more liberal powers than are granted by this chapter;3\n\nThe names and residences of the incorporators and the names, residences and official titles of all officers, trustees, directors, or other persons who are to have and exercise the general control of the management of the affairs and funds of the society for the first year or until the ensuing election at which all such officers shall be elected by the supreme governing body, which election shall be held not later than one year from the date of issuance of the permanent certificate of authority.B\n\nSuch articles of incorporation, duly certified copies of the society’s bylaws and rules, copies of all proposed forms of certificates, applications therefor, and circulars to be issued by the society and a bond conditioned upon the return to applicants of the advanced payments if the organization is not completed within one year shall be filed with the Commission, which may require any further information it deems necessary. The bond, with sureties approved by the Commission, shall be not less than $50,000 nor more than $200,000, as required by the Commission. All documents filed are to be in the English language. If the purposes of the society conform to the requirements of this chapter and all provisions of the law have been complied with, the Commission shall so certify, retain, and file the articles of incorporation and furnish the incorporators a preliminary certificate of authority authorizing the society to solicit members as hereinafter provided.C\n\nNo preliminary certificate of authority granted under the provisions of this section shall be valid after one year from its date or after such further period, not exceeding one year, as may be authorized by the Commission upon cause shown, unless the 500 required applicants have been secured and the organization has been duly completed. The articles of incorporation and all other proceedings under those articles shall become void in one year from the date of the preliminary certificate of authority, or at the expiration of the extended period, unless the society has completed its organization and received a certificate of authority to do business.D\n\nUpon receipt of a preliminary certificate of authority from the Commission, the society may solicit members for the purpose of completing its organization, shall collect from each applicant the amount of not less than one regular monthly premium in accordance with its table of rates, and shall issue to each such applicant a receipt for the amount collected. No society shall incur any liability other than for the return of such advance premium, nor issue any certificate, nor pay, allow, or offer or promise to pay or allow, any benefit to any person until:1\n\nActual bona fide applicants for benefits have been secured on not less than 500 applicants, and any necessary evidence of insurability has been furnished to and approved by the society;2\n\nAt least 10 subordinate lodges have been established into which the 500 applicants have been admitted;3\n\nThere has been submitted to the Commission, a list of such applicants, giving their names, addresses, date each was admitted, name and number of the subordinate lodge of which each applicant is a member, amount of benefits to be granted and their premiums; and4\n\nIt has been shown to the Commission, by sworn statement of the treasurer, or corresponding officer of such society, that at least 500 applicants have each paid in cash at least one regular monthly premium, which shall total at least $150,000. Advance premiums shall be held in trust during the period of organization and, if the society has not qualified for a certificate of authority within one year, such premiums shall be returned to the applicants.E\n\nThe Commission may examine and require any further information it deems advisable. Upon presentation of satisfactory evidence that the society has complied with all the provisions of law, the Commissioner shall issue to the society a certificate of authority to that effect and that the society is authorized to do business pursuant to the provisions of this chapter. The certificate of authority shall be prima facie evidence of the existence of the society at the date of such certificate. The Commission shall cause a record of such certificate of authority to be made. A certified copy of such record shall have the same effect as the original certificate of authority.F\n\nAny incorporated society authorized to do business in this Commonwealth at the time this chapter becomes effective shall not be required to reincorporate.G\n\nThe provisions of this section shall not apply in any instance in which the provisions of this section are inconsistent or in conflict with a provision of Article 6 (§ 38.2-3438 et seq.) of Chapter 34.","order_by":null,"text":{"0":{"id":217783,"text":"On or after October 1, 1986, seven or more citizens of the United States, a majority of whom are citizens of this Commonwealth, who desire to form a fraternal benefit society, may make, sign and acknowledge before some officer competent to take acknowledgement of deeds, articles of incorporation, which shall state:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":217784,"text":"The proposed corporate name of the society, which shall not so closely resemble the name of any other society or insurer as to be misleading or confusing;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":217785,"text":"The purposes for which it is being formed and the mode in which its corporate powers are to be exercised. Such purposes shall not include more liberal powers than are granted by this chapter;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":217786,"text":"The names and residences of the incorporators and the names, residences and official titles of all officers, trustees, directors, or other persons who are to have and exercise the general control of the management of the affairs and funds of the society for the first year or until the ensuing election at which all such officers shall be elected by the supreme governing body, which election shall be held not later than one year from the date of issuance of the permanent certificate of authority.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"B"},"4":{"id":217787,"text":"Such articles of incorporation, duly certified copies of the society’s bylaws and rules, copies of all proposed forms of certificates, applications therefor, and circulars to be issued by the society and a bond conditioned upon the return to applicants of the advanced payments if the organization is not completed within one year shall be filed with the Commission, which may require any further information it deems necessary. The bond, with sureties approved by the Commission, shall be not less than $50,000 nor more than $200,000, as required by the Commission. All documents filed are to be in the English language. If the purposes of the society conform to the requirements of this chapter and all provisions of the law have been complied with, the Commission shall so certify, retain, and file the articles of incorporation and furnish the incorporators a preliminary certificate of authority authorizing the society to solicit members as hereinafter provided.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A3","next_prefix":"C"},"5":{"id":217788,"text":"No preliminary certificate of authority granted under the provisions of this section shall be valid after one year from its date or after such further period, not exceeding one year, as may be authorized by the Commission upon cause shown, unless the 500 required applicants have been secured and the organization has been duly completed. The articles of incorporation and all other proceedings under those articles shall become void in one year from the date of the preliminary certificate of authority, or at the expiration of the extended period, unless the society has completed its organization and received a certificate of authority to do business.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"6":{"id":217789,"text":"Upon receipt of a preliminary certificate of authority from the Commission, the society may solicit members for the purpose of completing its organization, shall collect from each applicant the amount of not less than one regular monthly premium in accordance with its table of rates, and shall issue to each such applicant a receipt for the amount collected. No society shall incur any liability other than for the return of such advance premium, nor issue any certificate, nor pay, allow, or offer or promise to pay or allow, any benefit to any person until:","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"D1"},"7":{"id":217790,"text":"Actual bona fide applicants for benefits have been secured on not less than 500 applicants, and any necessary evidence of insurability has been furnished to and approved by the society;","type":"section","prefixes":["D","1"],"prefix":"1","entire_prefix":"D1","prefix_anchor":"D1","level":2,"prior_prefix":"D","next_prefix":"D2"},"8":{"id":217791,"text":"At least 10 subordinate lodges have been established into which the 500 applicants have been admitted;","type":"section","prefixes":["D","2"],"prefix":"2","entire_prefix":"D2","prefix_anchor":"D2","level":2,"prior_prefix":"D1","next_prefix":"D3"},"9":{"id":217792,"text":"There has been submitted to the Commission, a list of such applicants, giving their names, addresses, date each was admitted, name and number of the subordinate lodge of which each applicant is a member, amount of benefits to be granted and their premiums; and","type":"section","prefixes":["D","3"],"prefix":"3","entire_prefix":"D3","prefix_anchor":"D3","level":2,"prior_prefix":"D2","next_prefix":"D4"},"10":{"id":217793,"text":"It has been shown to the Commission, by sworn statement of the treasurer, or corresponding officer of such society, that at least 500 applicants have each paid in cash at least one regular monthly premium, which shall total at least $150,000. Advance premiums shall be held in trust during the period of organization and, if the society has not qualified for a certificate of authority within one year, such premiums shall be returned to the applicants.","type":"section","prefixes":["D","4"],"prefix":"4","entire_prefix":"D4","prefix_anchor":"D4","level":2,"prior_prefix":"D3","next_prefix":"E"},"11":{"id":217794,"text":"The Commission may examine and require any further information it deems advisable. Upon presentation of satisfactory evidence that the society has complied with all the provisions of law, the Commissioner shall issue to the society a certificate of authority to that effect and that the society is authorized to do business pursuant to the provisions of this chapter. The certificate of authority shall be prima facie evidence of the existence of the society at the date of such certificate. The Commission shall cause a record of such certificate of authority to be made. A certified copy of such record shall have the same effect as the original certificate of authority.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D4","next_prefix":"F"},"12":{"id":217795,"text":"Any incorporated society authorized to do business in this Commonwealth at the time this chapter becomes effective shall not be required to reincorporate.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E","next_prefix":"G"},"13":{"id":217796,"text":"The provisions of this section shall not apply in any instance in which the provisions of this section are inconsistent or in conflict with a provision of Article 6 (§ 38.2-3438 et seq.) of Chapter 34.","type":"section","prefixes":["G"],"prefix":"G","entire_prefix":"G","prefix_anchor":"G","level":1,"prior_prefix":"F"}},"ancestry":[{"id":13995,"edition_id":1,"name":"Governance","identifier":"3","label":"article","depth":3,"order_by":1,"parent_id":13775,"metadata":{},"date_created":"2026-06-26 03:46:33","date_modified":"2026-06-26 03:46:33","permalink":{"id":216533,"object_type":"structure","relational_id":13995,"identifier":"3","token":"38.2\/41\/3","url":"\/38.2\/41\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13775,"edition_id":1,"name":"Fraternal Benefit Societies","identifier":"41","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:45:51","date_modified":"2026-06-26 03:45:51","permalink":{"id":216491,"object_type":"structure","relational_id":13775,"identifier":"41","token":"38.2\/41","url":"\/38.2\/41\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12698,"edition_id":1,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 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":59432,"structure_id":13995,"section_number":"38.2-4109","catch_line":"Organization of domestic society on or after October 1, 1986","url":"\/38.2-4109\/","token":"38.2\/41\/3\/38.2-4109","metadata":false},{"id":79741,"structure_id":13995,"section_number":"38.2-4110","catch_line":"Incorporation of fraternal benefit societies","url":"\/38.2-4110\/","token":"38.2\/41\/3\/38.2-4110","metadata":false},{"id":73993,"structure_id":13995,"section_number":"38.2-4111","catch_line":"Amendments to laws","url":"\/38.2-4111\/","token":"38.2\/41\/3\/38.2-4111","metadata":false},{"id":75723,"structure_id":13995,"section_number":"38.2-4112","catch_line":"Institutions","url":"\/38.2-4112\/","token":"38.2\/41\/3\/38.2-4112","metadata":false},{"id":60363,"structure_id":13995,"section_number":"38.2-4113","catch_line":"Reinsurance","url":"\/38.2-4113\/","token":"38.2\/41\/3\/38.2-4113","metadata":false},{"id":55077,"structure_id":13995,"section_number":"38.2-4114","catch_line":"Consolidations and mergers","url":"\/38.2-4114\/","token":"38.2\/41\/3\/38.2-4114","metadata":false},{"id":62774,"structure_id":13995,"section_number":"38.2-4115","catch_line":"Conversion of fraternal benefit society into mutual life insurer","url":"\/38.2-4115\/","token":"38.2\/41\/3\/38.2-4115","metadata":false}],"next_section":{"id":79741,"structure_id":13995,"section_number":"38.2-4110","catch_line":"Incorporation of fraternal benefit societies","url":"\/38.2-4110\/","token":"38.2\/41\/3\/38.2-4110","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-4109\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 5 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1952, chapter 317; in 1968, chapter 654; in 1975, chapter 262; in 1986, chapter 562; in 2013, chapter 751<\/a>.<\/p>","references":[{"id":78815,"section_number":"38.2-3449","catch_line":"Prohibiting discrimination based on health status","order_by":null,"url":"\/38.2-3449\/"}],"refers_to":[{"id":57210,"section_number":"38.2-3438","catch_line":"Definitions","order_by":null,"url":"\/38.2-3438\/"}],"permalink":{"id":216535,"object_type":"law","relational_id":59432,"identifier":"38.2-4109","token":"38.2\/41\/3\/38.2-4109","url":"\/38.2-4109\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-4109\/","token":"38.2\/41\/3\/38.2-4109","dublin_core":{"Title":"Organization of domestic society on or after October 1, 1986","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-4109","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> On or after October 1, 1986, seven or more citizens of the United States<\/span>, a majority of whom are citizens of this Commonwealth, who desire to form a fraternal benefit society<\/span>, may make, sign and acknowledge before some officer competent to take acknowledgement of deeds, articles of incorporation, which shall state<\/span>: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The proposed corporate name of the society<\/span>, which shall not so closely resemble the name of any other society<\/span> or insurer<\/span> as to be misleading or confusing; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The purposes for which it is being formed and the mode in which its corporate powers are to be exercised. Such purposes shall not include more liberal powers than are granted by this chapter; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The names and residences of the incorporators and the names, residences and official titles of all officers, trustees, directors, or other persons<\/span> who are to have and exercise the general control of the management of the affairs and funds of the society<\/span> for the first year or until the ensuing election at which all such officers shall be elected by the supreme governing body, which election shall be held not later than one year from the date of issuance of the permanent certificate<\/span> of authority. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Such articles of incorporation, duly certified copies of the society<\/span>’s bylaws and rules<\/span>, copies of all proposed forms of certificates<\/span>, applications therefor, and circulars to be issued by the society<\/span> and a bond<\/span> conditioned upon the return to applicants of the advanced payments if the organization is not completed within one year shall be filed with the Commission<\/span>, which may require any further information it deems necessary. The bond<\/span>, with sureties approved by the Commission<\/span>, shall be not less than $50,000 nor more than $200,000, as required by the Commission<\/span>. All documents filed are to be in the English language. If the purposes of the society<\/span> conform to the requirements of this chapter and all provisions of the law<\/span> have been complied with, the Commission<\/span> shall so certify, retain, and file the articles of incorporation and furnish the incorporators a preliminary certificate<\/span> of authority authorizing the society<\/span> to solicit members as hereinafter provided. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> No preliminary certificate<\/span> of authority granted under the provisions of this section shall be valid after one year from its date or after such further period, not exceeding one year, as may be authorized by the Commission<\/span> upon cause shown, unless the 500 required applicants have been secured and the organization has been duly completed. The articles of incorporation and all other proceedings under those articles shall become void in one year from the date of the preliminary certificate<\/span> of authority, or at the expiration of the extended period, unless the society<\/span> has completed its organization and received a certificate<\/span> of authority to do business. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Upon receipt of a preliminary certificate<\/span> of authority from the Commission<\/span>, the society<\/span> may solicit members for the purpose of completing its organization, shall collect from each applicant the amount of not less than one regular monthly premium in accordance with its table of rates<\/span><\/span>, and shall issue<\/span> to each such applicant a receipt for the amount collected. No society<\/span> shall incur any liability other than for the return of such advance premium, nor issue<\/span> any certificate<\/span>, nor pay, allow, or offer or promise to pay or allow, any benefit to any person<\/span> until: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Actual bona fide applicants for benefits have been secured on not less than 500 applicants, and any necessary evidence<\/span> of insurability has been furnished to and approved by the society<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> At least 10 subordinate lodges<\/span> have been established into which the 500 applicants have been admitted; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> There has been submitted to the Commission<\/span>, a list of such applicants, giving their names, addresses, date each was admitted, name and number of the subordinate lodge<\/span> of which each applicant is a member, amount of benefits to be granted and their premiums<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> It has been shown to the Commission<\/span>, by sworn statement of the treasurer, or corresponding officer of such society<\/span>, that at least 500 applicants have each paid in cash at least one regular monthly premium, which shall total at least $150,000. Advance premiums<\/span> shall be held in trust during the period of organization and, if the society<\/span> has not qualified for a certificate<\/span> of authority within one year, such premiums<\/span> shall be returned to the applicants. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> The Commission<\/span> may examine and require any further information it deems advisable. Upon presentation of satisfactory evidence<\/span> that the society<\/span> has complied with all the provisions of law<\/span>, the Commissioner<\/span> shall issue<\/span> to the society<\/span> a certificate<\/span> of authority to that effect and that the society<\/span> is authorized to do business pursuant to the provisions of this chapter. The certificate<\/span> of authority shall be prima facie evidence<\/span> of the existence of the society<\/span> at the date of such certificate<\/span>. The Commission<\/span> shall cause a record of such certificate<\/span> of authority to be made. A certified copy of such record shall have the same effect as the original certificate<\/span> of authority. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> Any incorporated society<\/span> authorized to do business in this Commonwealth at the time this chapter becomes effective shall not be required to reincorporate. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

G.<\/span> The provisions of this section shall not apply in any instance in which the provisions of this section are inconsistent or in conflict with a provision of Article 6 (§ 38.2-3438<\/a> et seq.) of Chapter 34. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nORGANIZATION OF DOMESTIC SOCIETY ON OR AFTER OCTOBER 1, 1986 (\u00a7 38.2-4109)\n\nA. On or after October 1, 1986, seven or more citizens of the United States, a\nmajority of whom are citizens of this Commonwealth, who desire to form a\nfraternal benefit society, may make, sign and acknowledge before some officer\ncompetent to take acknowledgement of deeds, articles of incorporation, which\nshall state:\n\n 1. The proposed corporate name of the society, which shall not so closely\n resemble the name of any other society or insurer as to be misleading or\n confusing;\n\n 2. The purposes for which it is being formed and the mode in which its\n corporate powers are to be exercised. Such purposes shall not include more\n liberal powers than are granted by this chapter;\n\n 3. The names and residences of the incorporators and the names, residences and\n official titles of all officers, trustees, directors, or other persons who are\n to have and exercise the general control of the management of the affairs and\n funds of the society for the first year or until the ensuing election at which\n all such officers shall be elected by the supreme governing body, which\n election shall be held not later than one year from the date of issuance of\n the permanent certificate of authority.\n\nB. Such articles of incorporation, duly certified copies of the society’s\nbylaws and rules, copies of all proposed forms of certificates, applications\ntherefor, and circulars to be issued by the society and a bond conditioned upon\nthe return to applicants of the advanced payments if the organization is not\ncompleted within one year shall be filed with the Commission, which may require\nany further information it deems necessary. The bond, with sureties approved by\nthe Commission, shall be not less than $50,000 nor more than $200,000, as\nrequired by the Commission. All documents filed are to be in the English\nlanguage. If the purposes of the society conform to the requirements of this\nchapter and all provisions of the law have been complied with, the Commission\nshall so certify, retain, and file the articles of incorporation and furnish the\nincorporators a preliminary certificate of authority authorizing the society to\nsolicit members as hereinafter provided.\n\nC. No preliminary certificate of authority granted under the provisions of this\nsection shall be valid after one year from its date or after such further\nperiod, not exceeding one year, as may be authorized by the Commission upon\ncause shown, unless the 500 required applicants have been secured and the\norganization has been duly completed. The articles of incorporation and all\nother proceedings under those articles shall become void in one year from the\ndate of the preliminary certificate of authority, or at the expiration of the\nextended period, unless the society has completed its organization and received\na certificate of authority to do business.\n\nD. Upon receipt of a preliminary certificate of authority from the Commission,\nthe society may solicit members for the purpose of completing its organization,\nshall collect from each applicant the amount of not less than one regular\nmonthly premium in accordance with its table of rates, and shall issue to each\nsuch applicant a receipt for the amount collected. No society shall incur any\nliability other than for the return of such advance premium, nor issue any\ncertificate, nor pay, allow, or offer or promise to pay or allow, any benefit to\nany person until:\n\n 1. Actual bona fide applicants for benefits have been secured on not less than\n 500 applicants, and any necessary evidence of insurability has been furnished\n to and approved by the society;\n\n 2. At least 10 subordinate lodges have been established into which the 500\n applicants have been admitted;\n\n 3. There has been submitted to the Commission, a list of such applicants,\n giving their names, addresses, date each was admitted, name and number of the\n subordinate lodge of which each applicant is a member, amount of benefits to\n be granted and their premiums; and\n\n 4. It has been shown to the Commission, by sworn statement of the treasurer,\n or corresponding officer of such society, that at least 500 applicants have\n each paid in cash at least one regular monthly premium, which shall total at\n least $150,000. Advance premiums shall be held in trust during the period of\n organization and, if the society has not qualified for a certificate of\n authority within one year, such premiums shall be returned to the applicants.\n\nE. The Commission may examine and require any further information it deems\nadvisable. Upon presentation of satisfactory evidence that the society has\ncomplied with all the provisions of law, the Commissioner shall issue to the\nsociety a certificate of authority to that effect and that the society is\nauthorized to do business pursuant to the provisions of this chapter. The\ncertificate of authority shall be prima facie evidence of the existence of the\nsociety at the date of such certificate. The Commission shall cause a record of\nsuch certificate of authority to be made. A certified copy of such record shall\nhave the same effect as the original certificate of authority.\n\nF. Any incorporated society authorized to do business in this Commonwealth at\nthe time this chapter becomes effective shall not be required to reincorporate.\n\nG. The provisions of this section shall not apply in any instance in which the\nprovisions of this section are inconsistent or in conflict with a provision of\nArticle 6 (§ 38.2-3438 et seq.) of Chapter 34.\n\nHISTORY: Code 1950, \u00a7\u00a7 38-264 through 38-268, 38.1-582 through 38.1-587; 1952,\nc. 317, \u00a7\u00a7 38.1-638.14 through 38.1-638.19; 1968, c. 654; 1975, c. 262; 1986,\nc. 562; 2013, c. 751.","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}}