A membership interest in a mutual insurance holding company is not a security under the laws of this state. No member of a mutual insurance holding company may transfer membership in the mutual insurance holding company or any right arising from membership.
W. Va. Code § 33-27A-10
Membership interest in mutual company
Known as the West Virginia Mutual to Mutual Insurance Holding Company Act
The act spans §§ 33-27A-1 to 33-27A-9 (14 sections).
Official source: West Virginia Legislature. Reproduced from public-domain West Virginia statutes; confirm against the official source for the current text. Not legal advice.