WVC 23 - 4 B- 6
§23-4B-6. Coal-workers' pneumoconiosis fund; how funded.
For the purpose of creating the coal-workers' pneumoconiosis
fund, each employer, who elects to subscribe to the fund, shall pay
premiums based upon and being a percentage of the payroll of the
employer determined by the board of managers. It is the duty of
the board of managers to fix and maintain the lowest possible rates
of premiums consistent with the maintenance of a solvent fund and
the creation and maintenance of a reasonable surplus after
providing for payment to maturity of all liability insured pursuant
to Title IV of the federal Coal Mine Health and Safety Act of 1969,
as amended. The rates shall be adjusted annually or more often as
may, in the opinion of the board of managers, be necessary.
The board of managers may by rule classify subscribers into
groups or classes according to the nature of the hazards incident
to the business of the subscribers and assign premium rates to the
subscribers. In addition, the board of managers may by rule
prescribe procedures for subscription, payroll reporting, premium
payment, termination of subscription, reinstatement and other
matters pertinent to the subscribers' continuing participation in
the coal-workers' pneumoconiosis fund.