Bill Text: WV SB165 | 2021 | Regular Session | Introduced


Bill Title: Insurance Commissioner rule relating to credit for reinsurance

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2021-02-25 - Reported in Com. Sub. for S. B. 160 [SB165 Detail]

Download: West_Virginia-2021-SB165-Introduced.html

WEST virginia legislature

2021 regular session

Introduced

Senate Bill 165

By Senator Sypolt

[Introduced February 11, 2021; referred
to the Committee on 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 Commissioner to promulgate a legislative rule relating to credit for reinsurance.

Be it enacted by the Legislature of West Virginia:


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

§64-7-1. Insurance Commissioner.

The legislative rule filed in the State Register on July 27, 2020, authorized under the authority of §33-2-10 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 September 30, 2020, relating to the Insurance Commissioner (credit for reinsurance, 114 CSR 40), is authorized.

 

NOTE: The purpose of this bill is to authorize the Insurance Commissioner to promulgate a legislative rule relating to credit for reinsurance.

Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.

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