Bill Text: WV SB145 | 2011 | Regular Session | Introduced

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Bill Title: Authorizing Insurance Commissioner promulgate legislative rule relating to valuation of life insurance companies

Spectrum: Slight Partisan Bill (Democrat 4-2)

Status: (Introduced - Dead) 2011-01-26 - To Judiciary [SB145 Detail]

Download: West_Virginia-2011-SB145-Introduced.html

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114 CSR 68

Senate Bill No. 145
(By Senators Minard, Snyder, Prezioso,
Unger, Boley and K. Facemyer)
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[Introduced January 18, 2011; referred to the
Committee on Banking and Insurance;
and then to the Committee on the Judiciary.]
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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 valuation of life insurance companies.

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 (valuation of life insurance companies, 114 CSR 68), is authorized.

NOTE: The purpose of this bill is to authorize the Insurance Commissioner to promulgate a legislative rule relating to the Valuation of Life Insurance Companies.

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