WVC 33 - 3 - 7
§33-3-7. Issuance of license to transact insurance; kinds of
insurance authorized to be transacted.
(a) Upon receiving the application and supporting documents
required by section four of this article, if the commissioner is
satisfied that an insurer has complied with the terms of its
charter and the provisions of this chapter and other laws of this
state and that such insurer is solvent and will transact insurance
in a legal, proper and just manner, he or she may issue to such
insurer a license authorizing it to transact insurance in this
state. Such license may authorize an insurer which otherwise
qualifies therefor to transact life and/or accident and sickness
insurance or an insurer other than a life insurer to transact any
of the kinds of insurance other than life for which it otherwise
qualifies. However, as to any life insurer which, immediately
prior to the effective date of this chapter, lawfully held a
license granting to it the right to transact in West Virginia
additional kinds of insurance other than life and accident and
sickness, the commissioner may continue to license said insurer to
transact the same kinds of insurance as those specified in such
prior license so long as such insurer is otherwise in compliance
with this chapter.
(b) A foreign insurer that obtains a license pursuant to the
provisions of this section may transact the business of insurance
in this state without obtaining the certificate of authority from
the secretary of state otherwise required by the provisions of section 1501, article fifteen, chapter thirty-one-d of this code.
Note: WV Code updated with legislation passed through the 2016 Regular Session
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