LV= to convert from friendly society to Ltd company
Following member vote
Decision will not alter mutual status, but insurer will be governed by the Companies Act
On 22 May, almost 100,000 LV= members (turnout nearly 9%) took part in two separate votes at its special general meeting. There were two proposals on the table: To convert from a friendly society to a company limited by guarantee. To amend its rules to clarify who benefits from being a member of LV= going forward. 93.3% of the LV= members who took part voted in favour of proposal one and 94.5% voted in favour of proposal two. The first result means that LV= will convert from a friendly...
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