Senate Bill 361 History
Senate Bill No. 361
(By Senators Minard, Fanning, Prezioso,
Unger, Boley and Minear)
[Introduced February 28, 2005; referred to the
Committee on Banking and Insurance;
and then to the Committee on the Judiciary.]
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 the valuation of life insurance policies.
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 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 (valuation of life insurance policies, 114 CSR 68), is authorized.
NOTE: The purpose of this bill is to authorize the Insurance
Commissioner to promulgate a legislative rule relating the
Valuation of Life Insurance Policies.
This section is new; therefore, strike-throughs and
underscoring have been omitted.]