38.2-4220 - Interplan arrangements. - Virginia Statutes

§ 38.2-4220. Interplan arrangements.

A nonstock corporation may enter into contracts with similar nonstockcorporations for the interchange of services to those included insubscription contracts and may provide in subscription contracts for thesubstitution of services instead of those recited in its subscriptioncontracts. However, no corporation shall enter into any contract to acquireor to attempt to acquire control, as defined in § 38.2-1322, of any person orenter into any material transaction, as defined in § 38.2-1322, if suchcontract or transaction would jeopardize or adversely affect the interests ofthe corporation's subscribers as determined by the Commission.

(Code 1950, § 32-195.10; 1956, c. 268, § 38.1-823; 1979, c. 721; 1986, c.562.)