WVC 33 - 9 - 4
§33-9-4. Trust companies as depositories; state responsible for
safekeeping and return of deposits.
(a) Upon request of the insurer, the state treasurer may
designate any solvent trust company or other solvent financial
institution having trust powers domiciled in this state as the
treasurer's depository to receive and hold any such deposit. Any
such deposit so held shall be at the expense of the insurer.
(b) The state of West Virginia shall be responsible for the
safekeeping and return of all funds and securities deposited
pursuant to this chapter with the state treasurer or in any
depository so designated by him.