CHAPTER 596

AN ACT to amend and reenact § 38.1-75, as amended, of the Code of Vir-
ginia, relating to the name and articles of incorporation of mutual in-
surance companies.

{S 243]

Approved March 29, 1958

Be it enacted by the General Assembly of Virginia:

1. That § 38.1-75, as amended, of the Code of Virginia, be amended and
reenacted as follows:

§ 38.1-75. The * articles of incorporation must be signed by not less
than twenty natural persons, a majority of whom are bona fide residents of
this State; and * the articles shall, in addition to complying with the re-
quirements of Article 3 (§ 13.1-230, et seq.) of Chapter 2 of Title 13.1, set
forth the class or classes of insurance the company proposes to transact.
The name of the company shall contain the word ‘‘mutual”, and shall not
be * the same as, or confusingly similar to, the name of any corporation,
whether issuing shares or not issuing shares, existing under the laws of this
State, or the name of any foreign corporation, whether issuing shares or
not issuing shares, authorized to transact business in this State, or any cor-
porate name reserved or registered as provided by law.