Bill Text: WV SB188 | 2015 | Regular Session | Introduced
Bill Title: Authorizing Insurance Commissioner promulgate legislative rule relating to using mortality tables to determine reserve liabilities for annuities
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2015-02-04 - Reported in Com. Sub. for S. B. 187 [SB188 Detail]
Download: West_Virginia-2015-SB188-Introduced.html
Senate Bill No. 188
(By Senator Snyder)
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[Introduced January 14, 2015; 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 recognizing annuity mortality tables for use in determining reserve liabilities for annuities.
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 August 1, 2014, authorized under the authority of section ten, article two, chapter thirty-three, of this code, relating to the Insurance Commissioner (recognizing annuity mortality tables for use in determining reserve liabilities for annuities, 114 CSR 45), is authorized.
NOTE: The purpose of this bill is to authorize the Insurance Commissioner to promulgate a legislative rule relating to recognizing annuity mortality tables for use in determining reserve liabilities for annuities.
This section is new; therefore, strike-throughs and underscoring have been omitted.
