Bill Text: WV SB146 | 2011 | Regular Session | Introduced

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Bill Title: Authorizing Insurance Commissioner promulgate legislative rule relating to recognition of preferred mortality tables for use in determining minimum reserve liabilities

Spectrum: Slight Partisan Bill (Democrat 4-2)

Status: (Introduced - Dead) 2011-01-26 - To Judiciary [SB146 Detail]

Download: West_Virginia-2011-SB146-Introduced.html

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114 CSR 69A

Senate Bill No. 146
(By Senators Minard, Snyder, Prezioso,
Unger, Boley and K. Facemyer)
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[Introduced January 18, 2011; referred to the
Committee on Banking and Insurance;
and then to the Committee on the Judiciary.]
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A BILL to amend and reenact article 7, chapter 64 of the Code of West Virginia, 1931, as amended, relating to authorizing the Insurance Commissioner to promulgate a legislative rule relating to the recognition of preferred mortality tables for use in determining minimum reserve liabilities.

Be it enacted by the Legislature of West Virginia:
That article 7, chapter 64 of the Code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:

ARTICLE 7. AUTHORIZATION FOR DEPARTMENT OF TAX AND REVENUE TO PROMULGATE LEGISLATIVE RULES.

§64-7-1. Insurance Commissioner.
The legislative rule filed in the state register on the twenty-seventh day of July, two thousand ten, authorized under the authority of section three, article two, chapter thirty-three, of this code, relating to the Insurance Commissioner (recognition of preferred mortality tables for use in determining minimum reserve liabilities, 114 CSR 69A), is authorized.

NOTE: The purpose of this bill is to authorize the Insurance Commissioner to promulgate a legislative rule relating to the Recognition of Preferred Mortality Tables for Use in Determining Minimum Reserve Liabilities.

This section is new; therefore, strike-throughs and underscoring have been omitted.