Insurance 114csr69
H. B. 2691
(By Delegates Mahan, Palumbo,
Cann, Pino, Armstead and Overington)
[Introduced February 28, 2005; referred to the
Committee on Banking and Insurance then the Judiciary.]
A BILL to amend §64-7 of the code of West Virginia, one thousand
nine hundred thirty-one, as amended, by adding thereto a new
section, designated §1, relating to authorizing the Insurance
Commissioner to promulgate a legislative rule relating to
recognition of the 2001 CSO Mortality Table for use in
determining minimum reserve liabilities and nonforfeiture
benefits.
Be it enacted by the Legislature of West Virginia:
That §64-7 of the code of West Virginia, one thousand nine
hundred thirty-one, as amended, be amended by adding thereto a new
section, designated §1, 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-sixth day of August, two thousand four, under the authority
of section ten, article two, chapter thirty-three, of this code, relating to the Insurance Commissioner (recognition of the 2001 CSO
Mortality Table for use in determining minimum reserve liabilities
and nonforfeiture benefits, 114 CSR 69), is authorized.
NOTE: The purpose of this bill is to authorize the Insurance
Commissioner to promulgate a legislative rule relating the
Recognition of the 2001 CSO Mortality Table for Use in Determining
Minimum Reserve Liabilities and Nonforfeiture Benefits.
This section is new; therefore, strike-throughs and
underscoring have been omitted.]
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