38.2-4206 - Nonstock corporation required. - Virginia Statutes

§ 38.2-4206. Nonstock corporation required.

Each plan shall be conducted either by or through (i) a nonstock corporationorganized pursuant to the laws of this Commonwealth or (ii) a foreignnonstock corporation that is subject to regulation and licensing under thelaws of its domiciliary jurisdiction that are substantially similar to thoseprovided by this chapter.

This section shall not apply to any foreign nonstock corporation alreadylicensed in this Commonwealth as of July 1, 1980.

(1980, c. 682, § 38.1-813.2; 1986, c. 562.)