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Introduced Version Senate Bill 188 History

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Key: Green = existing Code. Red = new code to be enacted

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.

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