WVC 33 - 3 A- 8
§33-3A-8. Authority of commissioner.
Whenever it appears to the commissioner from any annual or
quarterly statement or trusteed surplus statement or any other
report that a U.S. branch's trusteed surplus is reduced below
minimum capital and surplus, or the authorized control level risk
based capital, whichever is greater, required to be maintained by
a domestic insurer licensed to transact the same kinds of
insurance, the commissioner may proceed against the insurer
pursuant to the provisions of sections ten and eleven of article
three of this chapter, and treat the insurer as one whose condition
is such that its further transaction of business in the United
States will be hazardous to its policyholders, its creditors or the
public in the United States.
Note: WV Code updated with legislation passed through the 2016 Regular Session
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