Senate Bill 362 History
Senate Bill No. 362
(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 recognition of the 2001 CSO Mortality Table for
use in determining minimum reserve liabilities and
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 (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.]