Mutual holding company membership interest

Va. Code Ann. § 38.2-1005.1:3
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
A. A member of a mutual holding company shall not transfer membership in the company or any right arising from membership. B. A member of a mutual holding company shall not, as a member, be personally liable for or subject to assessment on account of any act, debt, liability or obligation of the MHC or of any entity owned or controlled by the MHC. C. A membership interest in a mutual holding company shall not constitute a security under the laws of the Commonwealth. 2001, c. 726 .
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/38.2-1005.1:3/Fetched: 10/16/2026

Starting a business in Virginia? Virginia LLC guide: costs and requirements