WEST VIRGINIA LEGISLATURE
2020 REGULAR SESSION
Introduced
Senate Bill 358
By Senator Maynard
[Introduced January 14, 2020; referred
to the Committee on the Judiciary]
A BILL to amend and reenact §64-7-1 of the Code of West Virginia, 1931, as amended, relating to authorizing the Insurance Commissioner to promulgate a legislative rule relating to credit for reinsurance.
Be it enacted by the Legislature of West Virginia:
ARTICLE 7. Authorization for Department of revenue to promulgate legislative rules.
§64-7-1. Insurance Commissioner.
The legislative rule filed in the State Register on March 26, 2019, authorized under the authority of §33-4-15a(e) of this code, modified by the Insurance Commissioner to meet the objections of the Legislative Rule-Making Review Committee and refiled in the State Register on October 29, 2019, relating to the Insurance Commissioner (credit for reinsurance, 114 CSR 40), is authorized.
NOTE: The purpose of this bill is to authorize the Insurance Commission to promulgate a legislative rule relating to credit for reinsurance.
This section is new; therefore, strike-throughs and underscoring have been omitted.