Virginia Code 38.2-4133: Unfair methods of competition and unfair and deceptive acts and practices.
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Every society authorized to do business in this Commonwealth shall be subject to the provisions of Chapter 5 (§ 38.2-500 et seq.) of this title. However, nothing in such provisions shall be construed as applying to or affecting the right of any society to determine its eligibility requirements for membership, or be construed as applying to or affecting the offering of benefits exclusively to members or persons eligible for membership in the society by a subsidiary corporation or affiliated organization of the society.
Terms Used In Virginia Code 38.2-4133
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Society: means fraternal benefit society, unless otherwise indicated. See Virginia Code 38.2-4103
1968, c. 654, § 38.1-638.60; 1986, c. 562.