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.