HB 4246
Relating to authorizing the Insurance Commission to promulgate a legislative rule relating to insurance holding company systems.
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill authorizes the West Virginia Insurance Commission to create a specific rule (114 CSR 35) governing insurance holding company systems. The rule was previously reviewed and modified by the Legislative Rule-Making Review Committee. This legislation essentially gives the Insurance Commission the authority to establish regulations for how these holding companies operate within the state.
Key provisions
- Authorizes the Insurance Commission to promulgate a legislative rule.
- The rule pertains to insurance holding company systems.
- The rule was previously reviewed and modified by the Legislative Rule-Making Review Committee.
- The rule is codified in 114 CSR 35.
Who is affected
- Insurance Holding Companies
- West Virginia Insurance Commission
- The Insurance Industry in West Virginia
Notable changes
- Establishes a specific regulatory framework for insurance holding companies.
Sponsors
Official sponsors from legislative records.
Primary sponsor
D. Smith
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