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H. B. 2495
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(By Delegates Caputo, Manchin, Kuhn and Fragale)
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[Introduced January 22, 2003; referred to the
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Committee on Banking and Insurance then the Judiciary.]
A BILL to amend article six, chapter thirty-three of the code of
West Virginia, one thousand nine hundred thirty-one, as
amended, by adding thereto a new section, designated section
thirty-seven, relating to
requiring insurance companies that
provide automobile
insurance to accept policy premiums
, at the
option of the insured, either monthly, quarterly, semiannually
or annually.
Be it enacted by the Legislature of West Virginia:
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That article six, chapter thirty-three of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section
thirty-seven, to read as follows:
ARTICLE 6. THE INSURANCE POLICY.
§33-6-37. Automobile insurance policy premiums.
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Every insurance company that issues an automobile insurance policy to an insured shall allow the insured the option to pay
policy premiums either monthly, quarterly, semiannually or
annually.
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NOTE: The purpose of this bill is to require insurance
companies that provide automobile
insurance to accept policy
premiums
, at the option of the insured, either monthly, quarterly,
semi-annually or annually.
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This section is new; therefore, strike-throughs and
underscoring have been omitted.