WVC 33 - 11 - 4 B
§33-11-4b. Unfair Claims Settlement Practice Trust Fund.
(a) There is hereby created a special account in the State
Treasury designated the Unfair Claims Settlement Practice Trust
Fund, which shall be an interest-bearing account and may be
invested in the manner permitted by section nine, article six,
chapter twelve of this code, with the interest income or other
refund earned thereon a proper credit to the fund. Funds paid into
the account may also be derived from the following sources:
(1) Payments received pursuant to section nine, article two of
this chapter; and
(2) Any appropriations by the Legislature which may be made
for this purpose.
(b) The moneys from the principal in the fund shall be
expended by the Commissioner to compensate claimants as provided in
sections four-a and six of this article.
Note: WV Code updated with legislation passed through the 2016 Regular Session
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