HB4432 H b&I AMT 2-12

Archibald 3192

    The Committee on Banking and Insurance moves to amend the title of the bill to read as follows:

    H. B. 4432 –- “A BILL to amend and reenact §33-7-9 of the Code of West Virginia, 1931, as amended; and to amend and reenact §33-13-30 of said code, all relating to adopting Principle Based Reserving as the method by which reserves for life insurance policies, accident and health insurance policies and deposit-like contracts are calculated; removing unnecessary language; and providing a phase-in of the new method upon adoption of Principle Based Reserving by forty-two states representing seventy-five percent of applicable premiums.”