Senate Bill No. 373
(By Senators Ross, Minard,
Snyder, Unger, Boley and Minear)
__________
[Introduced January 30, 2004; referred to the
Committee on
Banking and Insurance; and then to the Committee on the
Judiciary.]
__________
A BILL to amend and reenact article 7, chapter 64 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:
That article 7, chapter 64 of the code of West Virginia, 1931,
as amended, be amended and reenacted to read as follows:
ARTICLE 7. AUTHORIZATION FOR DEPARTMENT OF TAX AND REVENUE TO
PROMULGATE LEGISLATIVE RULES.
§64-7-1. Insurance commissioner.
The legislative rule filed in the state register on the
twenty-ninth day of July, two thousand three, authorized under the
authority of section ten, article two, chapter thirty-three, 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 the twenty-third day of January, two thousand four, relating to the insurance commissioner (credit
for reinsurance, 114 CSR 40), is authorized.
NOTE: The purpose of this bill is to authorize the Insurance
Commissioner to promulgate a legislative rule relating to Credit
for Reinsurance.
This section is new; therefore, strike-throughs and
underscoring have been omitted.