Is “Demutualized” a Scrabble word?

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Yes
DEMUTUALIZED
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Invalid
Large English Dictionary
General English word list
Unavailable

Meaning of Demutualized

verb
  1. 1.(of a company, especially a building society) To change from mutual ownership to ownership via stocks or shares.