WEST virginia legislature
2023 regular session
Introduced
House Bill 2861
By Delegates W. Hall, Westfall, Jeffries, Hott, Barnhart and Riley
[Introduced January 20, 2023; Referred to the Committee on Banking and Insurance then the Judiciary]
A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §33-4-24, relating to defining a nominal fee for providing a referral to an insurance company or producer.
Be it enacted by the Legislature of West Virginia:
The phrase "nominal fee" shall mean a one-time fee of $100 or less.
NOTE: The purpose of this bill is to define a nominal fee for providing a referral to an insurance company or producer.
Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.