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Introduced Version Senate Bill 361 History

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sb361 intr Insurance 114csr68

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.]
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