Senate Bill No. 559
(By Senators Hunter and Minard)
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[Introduced February 13, 2007; referred to the Committee on
Banking and Insurance.]
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A BILL to amend and reenact §33-2-10 of the Code of West Virginia,
1931, as amended, relating to the authority of the Insurance
Commissioner to propose rules related to the business of
insurance necessary to protect military personnel.
Be it enacted by the Legislature of West Virginia:
That §33-2-10 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 2. INSURANCE COMMISSIONER.
§33-2-10. Rules.
(a) The commissioner
is authorized to promulgate and adopt
rules may propose rules for legislative approval in accordance with
the provisions of article three, chapter twenty-nine-a of this code
relating to insurance
as are the commissioner considers necessary
to discharge his or her duties and exercise his or her powers and
to effectuate the provisions of this chapter, protect and safeguard the interests of policyholders and the public of this state.
(b) The commissioner is authorized to promulgate rules
necessary to discharge his or her duties relating to workers'
compensation insurance as set forth in chapter twenty-three of this
code, which
shall be are exempt from the provisions of
article
three, chapter twenty-nine-a
article three of this code.
except
that These rules shall be filed with the Secretary of State's
Office.
(c) Prior to assuming regulatory authority over workers'
compensation insurance pursuant to article two-c, chapter
twenty-three of this code, the commissioner shall review and revise
all applicable rules to reflect the assumption of this new
regulatory authority.
Provided, That all such These revisions
shall be are exempt from the provisions of
article three, chapter
twenty-nine-a
article three, except that of this code. The amended
rules shall be filed with the Secretary of State's Office.
(d) Notwithstanding any other provision of this chapter, the
commissioner may propose rules for legislative approval in
accordance with the provisions of article three, chapter
twenty-nine-a of this code, he or she considers necessary to
protect service members of the United States Armed Forces from
dishonest and predatory insurance sales practices by declaring
certain identified practices to be false, misleading, deceptive or
unfair.
NOTE: The purpose of this bill is to authorize the Insurance
Commissioner to propose rules related to the business of insurance
necessary to protect military personnel.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.
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