114 CSR 69A

H. B. 2592

(By Delegates Brown, D. Poling, Fleischauer, Talbott, Overington and Sobonya)

[Introduced January 19, 2011; 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 recognition of preferred mortality tables for use in determining minimum reserve liabilities.

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 ten, authorized under the authority of section three, article two, chapter thirty-three, of this code, relating to the Insurance Commissioner (recognition of preferred mortality tables for use in determining minimum reserve liabilities, 114 CSR 69A), is authorized.

    NOTE: The purpose of this bill is to authorize the Insurance Commissioner to promulgate a legislative rule relating to the Recognition of Preferred Mortality Tables for Use in Determining Minimum Reserve Liabilities.

    This section is new; therefore, strike-throughs and underscoring have been omitted.