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Senate Bill 256 History
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ENROLLED
Senate Bill No. 256
(By Senators Bailey, Dempsey, Fanning, Love and Sharpe)
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[Passed April 7, 2005; in effect ninety days from passage.]
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AN ACT
to repeal §33-22-2a of the Code of West Virginia, 1931, as
amended; to amend said code by adding thereto a new section,
designated §33-17-6a; and to amend and reenact §33-22-2 of
said code, all relating to flood insurance; requiring that
certain insurance documents include a notice regarding the
absence of flood insurance and the possible availability of
flood insurance from other sources; requiring that farmer's
mutual insurance companies include the notice; and making
technical corrections to citations.
Be it enacted by the Legislature of West Virginia:
That §33-22-2a of the Code of West Virginia, 1931, as amended,
be repealed; that said code be amended by adding thereto a new
section, designated §33-17-6a; and that §33-22-2 of said code be
amended and reenacted, all to read as follows:
ARTICLE 17. FIRE AND MARINE INSURANCE.
§33-17-6a. Notice of noncoverage of flood damages and the
availability of flood insurance.
Every insurer issuing or renewing a policy that provides fire
insurance, as that term is defined in subsection (c), section ten,
article one of this chapter, but which does not cover damages from
flood, shall provide to the policyholder of every policy delivered
in this state a notice that provides as follows: THIS POLICY DOES
NOT COVER DAMAGE FROM FLOOD. FOR INFORMATION ABOUT FLOOD
INSURANCE, CONTACT THE NATIONAL FLOOD INSURANCE PROGRAM OR YOUR
INSURANCE AGENT.
ARTICLE 22. FARMERS' MUTUAL FIRE INSURANCE COMPANIES.
§33-22-2. Applicability of other provisions.
Each company to the same extent that provisions are applicable
to domestic mutual insurers shall be governed by and be subject to
the following provisions of this chapter, but only to the extent
these provisions are not inconsistent with the provisions of this
article: Article one (definitions); article two (insurance
commissioner); article four (general provisions), except that
section sixteen of said article may not be applicable thereto;
article seven (assets and liabilities); article eight-a (use of
clearing corporations and federal reserve book-entry system);
article ten (rehabilitation and liquidation), except that under the
provisions of section thirty-two of said article assessments may
not be levied against any former member of a farmers' mutual fire
insurance company who is no longer a member of the company at the
time the order to show cause was issued; article eleven (unfair
trade practices); article twelve (insurance producers and solicitors), except that the agent's license fee shall be five
dollars; section six-a, article seventeen (notice of noncoverage of
flood damages and the availability of flood insurance); article
twenty-six (West Virginia Insurance Guaranty Association Act);
article twenty-seven (insurance holding company systems); article
thirty (mine subsidence insurance), except that under the
provisions of section six of said article a farmers' mutual
insurance company shall have the option of offering mine subsidence
coverage to all of its policyholders, but may not be required to do
so; article thirty-three (annual audited financial report); article
thirty-four (administrative supervision); article thirty-four-a
(standards and commissioner's authority for companies considered to
be in hazardous financial condition); article thirty-five (criminal
sanctions for failure to report impairment); article thirty-six
(business transacted with Producer-Controlled Property-Casualty
Insurer Act); article thirty-seven (managing general agents);
article thirty-nine (disclosure of material transactions); article
forty (risk-based capital for insurers); and article forty-one
(Insurance Fraud Prevention Act).