114 CSR 8
H. B. 4246
(By Delegates Brown, Miley, Burdiss, Talbott,
Overington and Sobonya)
[Introduced January 25, 2008; referred to the Committee on
Banking and Insurance then 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 the replacement of life insurance policies and
annuity contracts.
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-seventh day of July, two thousand seven, 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 seventh day of December, two thousand seven, relating to the Insurance Commissioner (replacement
of life insurance policies and annuity contracts, 114 CSR 8), is
authorized.
NOTE: The purpose of this bill is to authorize the Insurance
Commissioner to promulgate a legislative rule relating to the
Replacement of Life Insurance Policies and Annuity Contracts.
This section is new; therefore, strike-throughs and
underscoring have been omitted.