H. B. 2179
(By Delegates Phillips, Gallagher, Douglas and Michael)<fo=1>
[Introduced February 18, 1993; referred to the
Committee on the Judiciary.]
A BILL to repeal section twenty-three, article six, chapter
thirty-three of the code of West Virginia, one thousand nine
hundred thirty-one, as amended, relating to release by
minors for payments made by a life insurer under the
provisions of an insurance policy, annuity contract or
settlement agreement.
Be it enacted by the Legislature of West Virginia:
ARTICLE 6. THE INSURANCE POLICY.
§1. Repeal of section relating to release by minor of certain
payments made by insurance company.
Section twenty-three, article six, chapter thirty-three of
the code of West Virginia, one thousand nine hundred thirty-one,
as amended, is hereby repealed.
NOTE: The purpose of this bill is to repeal a section of
the insurance code relating to release by minors. The existing
section requires insurance companies to obtain releases from
"minors" who are 18 years of age and who receive payments that do
not exceed $2000.00 a year.