{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-4229.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-4229.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-4229.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-4229.1.html"}],"law_id":86012,"edition_id":1,"section_id":86012,"structure_id":12968,"section_number":"38.2-4229.1","catch_line":"Conversion to domestic mutual insurer","history":"1991, c. 87; 1992, c. 473; 1994, c. 294; 1997, cc. 807, 913; 2013, cc. 136, 210.","full_text":"A\n\nAny domestic nonstock corporation subject to the provisions of this chapter that has the surplus required by § 38.2-1030 for domestic mutual insurers issuing policies without contingent liability may, at its option and without reincorporation, convert to a domestic mutual insurer by following the procedure set forth in this section.B\n\nAny nonstock corporation eligible to convert to a domestic mutual insurer under subsection A may effect such conversion by amending its articles of incorporation to delete any reference to this chapter and to comply with the provisions of § 38.2-1002 relating to the articles of incorporation of a domestic mutual insurer. Upon the issuance of a certificate of amendment by the Commission, the conversion shall be effective, such nonstock corporation shall become subject to all of the provisions of this title relating to domestic mutual insurers, and such nonstock corporation shall no longer be subject to the provisions of this chapter.C\n\nIf any nonstock corporation converts from a health services plan organized under this chapter to a domestic mutual insurer, then at least 90 days prior to the effective date of conversion, the nonstock corporation shall comply with § 38.2-316 by filing with the Commission copies of all policies of insurance that it proposes to issue after the effective date of conversion. All subscription contracts issued and outstanding as of the effective date of conversion shall remain in force in accordance with their terms until the expiration or termination of such contracts.D\n\nNo policy of accident and sickness insurance issued by a nonstock corporation after its conversion to a domestic mutual insurer shall deny the policyholder the right to assign his benefit, except that denial may be made where the benefit is 80 percent of covered charges or greater.","order_by":null,"text":{"0":{"id":308036,"text":"Any domestic nonstock corporation subject to the provisions of this chapter that has the surplus required by § 38.2-1030 for domestic mutual insurers issuing policies without contingent liability may, at its option and without reincorporation, convert to a domestic mutual insurer by following the procedure set forth in this section.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":308037,"text":"Any nonstock corporation eligible to convert to a domestic mutual insurer under subsection A may effect such conversion by amending its articles of incorporation to delete any reference to this chapter and to comply with the provisions of § 38.2-1002 relating to the articles of incorporation of a domestic mutual insurer. Upon the issuance of a certificate of amendment by the Commission, the conversion shall be effective, such nonstock corporation shall become subject to all of the provisions of this title relating to domestic mutual insurers, and such nonstock corporation shall no longer be subject to the provisions of this chapter.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":308038,"text":"If any nonstock corporation converts from a health services plan organized under this chapter to a domestic mutual insurer, then at least 90 days prior to the effective date of conversion, the nonstock corporation shall comply with § 38.2-316 by filing with the Commission copies of all policies of insurance that it proposes to issue after the effective date of conversion. All subscription contracts issued and outstanding as of the effective date of conversion shall remain in force in accordance with their terms until the expiration or termination of such contracts.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":308039,"text":"No policy of accident and sickness insurance issued by a nonstock corporation after its conversion to a domestic mutual insurer shall deny the policyholder the right to assign his benefit, except that denial may be made where the benefit is 80 percent of covered charges or greater.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":12968,"edition_id":1,"name":"In General","identifier":"1","label":"article","depth":3,"order_by":1,"parent_id":12967,"metadata":{},"date_created":"2026-06-26 03:44:05","date_modified":"2026-06-26 03:44:05","permalink":{"id":216659,"object_type":"structure","relational_id":12968,"identifier":"1","token":"38.2\/42\/1","url":"\/38.2\/42\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12967,"edition_id":1,"name":"Health Services Plans","identifier":"42","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:44:05","date_modified":"2026-06-26 03:44:05","permalink":{"id":216657,"object_type":"structure","relational_id":12967,"identifier":"42","token":"38.2\/42","url":"\/38.2\/42\/","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":78890,"structure_id":12968,"section_number":"38.2-4200","catch_line":"Applicability of chapter","url":"\/38.2-4200\/","token":"38.2\/42\/1\/38.2-4200","metadata":false},{"id":76897,"structure_id":12968,"section_number":"38.2-4201","catch_line":"Definitions","url":"\/38.2-4201\/","token":"38.2\/42\/1\/38.2-4201","metadata":false},{"id":71531,"structure_id":12968,"section_number":"38.2-4202","catch_line":"Hospital services plans","url":"\/38.2-4202\/","token":"38.2\/42\/1\/38.2-4202","metadata":false},{"id":80676,"structure_id":12968,"section_number":"38.2-4203","catch_line":"Medical or surgical services plans","url":"\/38.2-4203\/","token":"38.2\/42\/1\/38.2-4203","metadata":false},{"id":68874,"structure_id":12968,"section_number":"38.2-4204","catch_line":"Merger of nonstock 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corporation not required to act as agent","url":"\/38.2-4208\/","token":"38.2\/42\/1\/38.2-4208","metadata":false},{"id":80669,"structure_id":12968,"section_number":"38.2-4209","catch_line":"Preferred provider subscription contracts","url":"\/38.2-4209\/","token":"38.2\/42\/1\/38.2-4209","metadata":false},{"id":67453,"structure_id":12968,"section_number":"38.2-4209.1","catch_line":"Pharmacies; freedom of choice","url":"\/38.2-4209.1\/","token":"38.2\/42\/1\/38.2-4209.1","metadata":false},{"id":79670,"structure_id":12968,"section_number":"38.2-4209.2","catch_line":"Repealed","url":"\/38.2-4209.2\/","token":"38.2\/42\/1\/38.2-4209.2","metadata":false},{"id":65462,"structure_id":12968,"section_number":"38.2-4210","catch_line":"Liability of participants","url":"\/38.2-4210\/","token":"38.2\/42\/1\/38.2-4210","metadata":false},{"id":65554,"structure_id":12968,"section_number":"38.2-4211","catch_line":"Change of 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thereon","url":"\/38.2-4219\/","token":"38.2\/42\/1\/38.2-4219","metadata":false},{"id":57164,"structure_id":12968,"section_number":"38.2-4220","catch_line":"Interplan arrangements","url":"\/38.2-4220\/","token":"38.2\/42\/1\/38.2-4220","metadata":false},{"id":74708,"structure_id":12968,"section_number":"38.2-4221","catch_line":"Services of certain practitioners other than physicians to be covered","url":"\/38.2-4221\/","token":"38.2\/42\/1\/38.2-4221","metadata":false},{"id":70849,"structure_id":12968,"section_number":"38.2-4222","catch_line":"Licensing of nonstock corporations","url":"\/38.2-4222\/","token":"38.2\/42\/1\/38.2-4222","metadata":false},{"id":68899,"structure_id":12968,"section_number":"38.2-4223","catch_line":"Renewal of license","url":"\/38.2-4223\/","token":"38.2\/42\/1\/38.2-4223","metadata":false},{"id":63881,"structure_id":12968,"section_number":"38.2-4224","catch_line":"Licensing of agents","url":"\/38.2-4224\/","token":"38.2\/42\/1\/38.2-4224","metadata":false},{"id":75183,"structure_id":12968,"section_number":"38.2-4225","catch_line":"Repealed","url":"\/38.2-4225\/","token":"38.2\/42\/1\/38.2-4225","metadata":false},{"id":61125,"structure_id":12968,"section_number":"38.2-4226","catch_line":"Taxation","url":"\/38.2-4226\/","token":"38.2\/42\/1\/38.2-4226","metadata":false},{"id":78423,"structure_id":12968,"section_number":"38.2-4227","catch_line":"Misleading applications or contracts","url":"\/38.2-4227\/","token":"38.2\/42\/1\/38.2-4227","metadata":false},{"id":68671,"structure_id":12968,"section_number":"38.2-4228","catch_line":"Controversies involving subscription contracts","url":"\/38.2-4228\/","token":"38.2\/42\/1\/38.2-4228","metadata":false},{"id":60792,"structure_id":12968,"section_number":"38.2-4229","catch_line":"Reinsurance","url":"\/38.2-4229\/","token":"38.2\/42\/1\/38.2-4229","metadata":false},{"id":86012,"structure_id":12968,"section_number":"38.2-4229.1","catch_line":"Conversion to domestic mutual insurer","url":"\/38.2-4229.1\/","token":"38.2\/42\/1\/38.2-4229.1","metadata":false},{"id":82144,"structure_id":12968,"section_number":"38.2-4229.2","catch_line":"Hearings and investigations on effect of other state's law","url":"\/38.2-4229.2\/","token":"38.2\/42\/1\/38.2-4229.2","metadata":false}],"previous_section":{"id":60792,"structure_id":12968,"section_number":"38.2-4229","catch_line":"Reinsurance","url":"\/38.2-4229\/","token":"38.2\/42\/1\/38.2-4229","metadata":false},"next_section":{"id":82144,"structure_id":12968,"section_number":"38.2-4229.2","catch_line":"Hearings and investigations on effect of other state's law","url":"\/38.2-4229.2\/","token":"38.2\/42\/1\/38.2-4229.2","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-4229.1\/","history_text":"

This law was first created in 1991. The record of its establishment is cataloged in chapter 87 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. Unfortunately, the 1991 \u201cActs\u201d aren\u2019t available online. It has been modified 4 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 1992, chapter 473; in 1994, chapter 294<\/a>; in 1997, chapters 807<\/a> and 913<\/a>; in 2013, chapters 136<\/a> and 210<\/a>.<\/p>","references":[{"id":66737,"section_number":"32.1-352","catch_line":"Virginia Family Access to Medical Insurance Security Plan Trust Fund","order_by":null,"url":"\/32.1-352\/"}],"refers_to":[{"id":69780,"section_number":"38.2-1002","catch_line":"Additional requirements of articles of incorporation; name","order_by":null,"url":"\/38.2-1002\/"},{"id":63344,"section_number":"38.2-1030","catch_line":"Surplus requirements for issuing policies without contingent liability","order_by":null,"url":"\/38.2-1030\/"},{"id":60466,"section_number":"38.2-316","catch_line":"Policy forms to be filed with Commission; notice of approval or disapproval; exceptions","order_by":null,"url":"\/38.2-316\/"}],"permalink":{"id":216801,"object_type":"law","relational_id":86012,"identifier":"38.2-4229.1","token":"38.2\/42\/1\/38.2-4229.1","url":"\/38.2-4229.1\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-4229.1\/","token":"38.2\/42\/1\/38.2-4229.1","dublin_core":{"Title":"Conversion to domestic mutual insurer","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-4229.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Any domestic nonstock corporation<\/span> subject to the provisions of this chapter that has the surplus required by § 38.2-1030<\/a> for domestic mutual insurers<\/span> issuing policies without contingent liability may, at its option and without reincorporation, convert to a domestic mutual insurer<\/span> by following the procedure set forth in this section. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Any nonstock corporation<\/span> eligible to convert to a domestic mutual insurer<\/span> under subsection A may effect such conversion by amending its articles of incorporation to delete any reference to this chapter and to comply with the provisions of § 38.2-1002<\/a> relating to the articles of incorporation of a domestic mutual insurer<\/span>. Upon the issuance of a certificate of amendment by the Commission<\/span>, the conversion shall be effective, such nonstock corporation<\/span> shall become subject to all of the provisions of this title relating to domestic mutual insurers<\/span>, and such nonstock corporation<\/span> shall no longer be subject to the provisions of this chapter. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> If any nonstock corporation<\/span> converts from a health services plan<\/span> organized under this chapter to a domestic mutual insurer<\/span>, then at least 90 days prior to the effective date of conversion, the nonstock corporation<\/span> shall comply with § 38.2-316<\/a> by filing with the Commission<\/span> copies of all policies of insurance<\/span> that it proposes to issue<\/span> after the effective date of conversion. All subscription contracts<\/span> issued and outstanding as of the effective date of conversion shall remain in force in accordance with their terms until the expiration or termination of such contracts. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> No policy of accident and sickness insurance<\/span> issued by a nonstock corporation<\/span> after its conversion to a domestic mutual insurer<\/span> shall deny the policyholder the right to assign his benefit, except that denial may be made where the benefit is 80 percent of covered charges or greater. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONVERSION TO DOMESTIC MUTUAL INSURER (\u00a7 38.2-4229.1)\n\nA. Any domestic nonstock corporation subject to the provisions of this chapter\nthat has the surplus required by § 38.2-1030 for domestic mutual insurers\nissuing policies without contingent liability may, at its option and without\nreincorporation, convert to a domestic mutual insurer by following the procedure\nset forth in this section.\n\nB. Any nonstock corporation eligible to convert to a domestic mutual insurer\nunder subsection A may effect such conversion by amending its articles of\nincorporation to delete any reference to this chapter and to comply with the\nprovisions of § 38.2-1002 relating to the articles of incorporation of a\ndomestic mutual insurer. Upon the issuance of a certificate of amendment by the\nCommission, the conversion shall be effective, such nonstock corporation shall\nbecome subject to all of the provisions of this title relating to domestic\nmutual insurers, and such nonstock corporation shall no longer be subject to the\nprovisions of this chapter.\n\nC. If any nonstock corporation converts from a health services plan organized\nunder this chapter to a domestic mutual insurer, then at least 90 days prior to\nthe effective date of conversion, the nonstock corporation shall comply with\n§ 38.2-316 by filing with the Commission copies of all policies of\ninsurance that it proposes to issue after the effective date of conversion. All\nsubscription contracts issued and outstanding as of the effective date of\nconversion shall remain in force in accordance with their terms until the\nexpiration or termination of such contracts.\n\nD. No policy of accident and sickness insurance issued by a nonstock corporation\nafter its conversion to a domestic mutual insurer shall deny the policyholder\nthe right to assign his benefit, except that denial may be made where the\nbenefit is 80 percent of covered charges or greater.\n\nHISTORY: 1991, c. 87; 1992, c. 473; 1994, c. 294; 1997, cc. 807, 913; 2013, cc.\n136, 210.","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}}