Bill Text: WV HB2677 | 2023 | Regular Session | Introduced

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Bill Title: Authorizing the Insurance Commission to promulgate a legislative rule relating to suitability in annuity transactions

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2023-02-07 - To House Judiciary [HB2677 Detail]

Download: West_Virginia-2023-HB2677-Introduced.html

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West Virginia Legislature

2023 REGULAR SESSION

Introduced

House Bill 2677

BY Delegate Foster

[Introduced January 17, 2023; Referred to the Committee on Finance then the Judiciary]

A BILL to amend and reenact §64-7-1 of the Code of West Virginia, 1931, as amended, relating to authorizing the Insurance Commission to promulgate a legislative rule relating to suitability in annuity transactions.

Be it enacted by the Legislature of West Virginia:

ARTICLE 7. Authorization for Department of revenue to promulgate legislative rules.

§64-7-1. Insurance Commission.

The legislative rule filed in the State Register on July 19, 2022, authorized under the authority of §33-2-10 of this code, relating to the Insurance Commission (suitability in annuity transactions, 114 CSR 11B), is authorized.

 

NOTE: The purpose of this bill is to authorize the Insurance Commission to promulgate a legislative rule relating to suitability in annuity transactions.

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