The Virginia State Bar may sponsor, and its member attorneys may, through a nonstock corporation, operate a legal services plan under the following conditions:
1. All members of the Virginia State Bar may participate in the plan.
2. No more than one-fourth of the board of directors of the nonstock corporation operating the plan may be attorneys who shall be appointed to the board by the Virginia State Bar. A majority of the members of the board shall not be providers of legal services to the plan nor employees or officers of the corporation conducting the plan. The nonprovider members of the board may not be elected or appointed by the Virginia State Bar or by attorneys participating in the plan.
3. No part of the dues paid by attorneys to the Virginia State Bar shall be used to financially support the nonstock corporation.
4. The Commission shall require quarterly compliance certification from all plans licensed pursuant to this section.
1982, c. 387, § 38.1-793.1; 1986, c. 562.