West Virginia Legislature
Code of West Virginia, 1931
Official Recodification - Enacted December 31, 1930 - Effective January 1, 1931
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6,321 of 6,321 sections
Showing 3,301–3,350 of 6,321 sections
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33-2-19 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Acceptance of Discrimination or Favor by Insured No insured person or party shall receive or accept, directly or indirectly, any rebate or premium or part thereof, or agent’s, solicitor’s or broker’s commissio… Proofed
33-2-20 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Insurance Commissioner to Investigate Charges of Rebating It shall be the duty of the insurance commissioner to investigate any charges of rebating submitted to him. Such charges shall be in writing and shall specify t… Proofed
33-2-21 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Exemptions From Three Preceding Sections Nothing in the three preceding sections shall be so construed as to prohibit any company issuing non-participating insurance from paying bonuses to policyholder… Proofed
33-2-22 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Misrepresentation by Insurer No insurance company, association or society, or any officer, director, agent, broker or solicitor thereof, shall issue, circulate or use, or cause or permit to… Proofed
33-2-23 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Mutual Policies Must Show Amount for Which Assured Liable Every mutual company shall cause to appear in the body of its policy the total amount for which the assured may be liable under the charter of such company. Proofed
33-2-24 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Approval of Policies of Foreign Companies by Resident Agent Except where it is otherwise specially provided, no insurance company or association not incorporated under the laws of this State, shall make, write, place, or… Proofed
33-2-25 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Transfer of Risk to Unlicensed Company No insurance company shall, in any manner whatsoever, accept the whole or any part of a risk on property located in this State and transfer, in any manner whats… Proofed
33-2-26 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Penalty for Violation of Two Preceding Sections Any insurance company or corporation, insurance agency, or any person or agent thereof, violating any provision of the two preceding sections shall be guilty of… Proofed
33-2-27 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Companies Exempted From Sections 11, 24 and 25 The provisions of sections eleven, twenty-four and twenty-five of this article shall not apply to property of common carriers used by them in their business as … Proofed
33-2-28 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions No Waiver of Law by Agreement No agreement between the company and the policyholder or applicant for insurance shall be held to waive any of the provisions of this chapter. Proofed
33-2-29 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Limitation by Company of Time for Suit No insurance company shall limit the term within which any suit shall be brought against it to a period less than one year from the time when the loss insured a… Proofed
33-2-30 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Reduction of Capital No company licensed by the insurance commissioner shall reduce its capital stock until such action is approved by the insurance commissioner. Proofed
33-2-31 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Reduction of Surplus by Dividends No company licensed by the insurance commissioner shall declare or pay dividends to stockholders until such action be approved by the insurance commissioner, if… Proofed
33-2-32 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Reinsurance No company licensed by the insurance commissioner shall transfer or reinsure, directly or indirectly, substantially all of its West Virginia risks or contracts … Proofed
33-2-33 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Reinsurance When Capital Impaired If upon examination by the insurance commissioner he shall determine that the capital of any such company is impaired, he shall require it to make good such imp… Proofed
33-2-34 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Penalty for Violation of Sections 30-33 Every company violating any provision of sections thirty, thirty-one, thirty-two or thirty-three of this article shall be guilty of a misdemeanor, and, upon con… Proofed
33-2-35 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Advertisement of Amount of Capital Stock; Advertisements on Face of Policies No insurance company shall advertise a greater amount of capital stock than the actual paid up capital stock of such company, nor, except where it is otherwise … Proofed
33-2-36 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Accounts and Reports of Receivers of Insolvent Companies All accounts rendered to any court by the receiver of any insolvent insurance company of this State shall be presented by such receiver to the insurance commiss… Proofed
33-2-37 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Annual Return of and Tax on Premiums by Companies of Other States Every insurance company or association incorporated by or organized under the laws of any other state and licensed to transact business in this State shall retu… Proofed
33-2-38 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Annual Return of and Tax on Premiums of Companies of Foreign Countries Every insurance company or association incorporated by or organized under the laws of any foreign government and licensed to transact business in this State sha… Proofed
33-2-39 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Amount of Annual License Tax; Payment Into State Fund The annual tax which an insurance company or association is required to pay under the provisions of the two preceding sections shall be a sum equal to two perce… Proofed
33-2-40 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Domestic Companies Doing Business Outside State It shall be unlawful for any domestic insurance company, duly qualified under the laws of this State, to do business in any other state or territory of the Unit… Proofed
33-2-41 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Offense Where no Penalty Prescribed Every person, association or corporation violating any provision of this chapter for which no penalty is provided shall be guilty of a misdemeanor, and, upon co… Proofed
33-2-42 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Revocation of License on Failure to Perform Judgment or Decree If any insurance company or association shall neglect or refuse for thirty days after judgment or decree in any action, suit or proceeding, or if such judgment … Proofed
33-2-43 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Process; Service on Auditor; When Service on Agent Proper The auditor of this State shall be, and is hereby constituted, the attorney in fact of every insurance company, domestic or foreign, doing business in this Stat… Proofed
33-2-44 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS General Provisions Officers by Whom Acts May be Performed When any report, statement or affidavit is required to be filed or made, or when any act is required to be done, by the president, vice president, secretary or … Proofed
33-3-1 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Capital of Life Insurance Companies No life insurance company shall be admitted to do business in this State, or shall, directly or indirectly, enter into contracts of insurance, issue policies, t… Proofed
33-3-2 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Reports to Commissioner by Companies Chartered by This State Every life insurance company chartered by this State shall, on or before the first day of March in each year, render to the insurance commissioner a report, sig… Proofed
33-3-3 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Valuation of Life Policies Upon the receipt of such report, the commissioner shall make a valuation of all outstanding policies, additions thereto, unpaid dividends and all other obligati… Proofed
33-3-4 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Valuation of Securities All bonds or other evidences of debt having a fixed term and rate, held by any life insurance company, assessment life association or fraternal beneficiary soci… Proofed
33-3-5 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Payment of Dividends Except where it is otherwise specially provided in this chapter, payments in the form of dividends or otherwise shall not be made to its stockholders by any lif… Proofed
33-3-6 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Liability for Violation of Preceding Section Every officer or director of any such company who knowingly votes or assents to any payment, either to stockholders or policyholders, in violation of any of the… Proofed
33-3-7 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Annuities May Be Issued by Life Companies Life insurance companies chartered by and doing business in this State, and empowered to make contracts contingent upon life, may grant and issue annuities, eit… Proofed
33-3-8 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Reports by Insurance Companies of Other States; Valuation of Policies Every life insurance company organized under the laws of any other state or country, before being admitted to do business in this State, in addition to conformi… Proofed
33-3-9 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Participating Policies No domestic life insurance company and no domestic stock life insurance company, hereafter issuing or professing to issue any participating policies, shall issu… Proofed
33-3-10 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Rights of Insured as to Surplus on Participating Policies Every policyholder shall, on all participating policies issued since the twenty-third day of May in the year nineteen hundred and seven, be permitted annually t… Proofed
33-3-11 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance What Are Mutual Companies Every company or association which issues to its members certificates or policies agreeing to pay certain benefits to the beneficiaries thereunder, which benefi… Proofed
33-3-12 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Statement to be Filed With Insurance Commissioner by Domestic Mutual Company Every such domestic company shall, on or before the first day of March in each and every year, file with the insurance commissioner a statement, under oath of t… Proofed
33-3-13 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Statement to be Filed With Insurance Commissioner by Foreign Mutual Companies Every such foreign company shall, before transacting or continuing to transact business in this State, file with the insurance commissioner a statement similar … Proofed
33-3-14 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance When Mutual Company Entitled to License A license, or certificate of authority, to do business in this State may be issued to any such mutual company under the conditions prescribed in article two of … Proofed
33-3-15 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Capital Stock of Mutual Companies Mutual life insurance companies may do business within this State with a capital stock or surplus of not less than two hundred thousand dollars, and its capital… Proofed
33-3-16 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Annual Apportionment of Divisible a Surplus of Mutual Companies Every life insurance company doing business in this State conducted on the mutual plan, or in which policyholders are entitled to share in the profits or surplu… Proofed
33-3-17 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Contingency Reserve Any life insurance company doing business in this State may accumulate and maintain, in addition to the capital and surplus contributed by its stockholders and … Proofed
33-3-18 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Rights of Insured After Default in Payment of Premium In event of default in payment of any premium due an any policy, provided not less than three full years’ premiums shall have been paid, there shall be secured … Proofed
33-3-19 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Lodges, and Contracts Prior to Acts of Eighteen Hundred and Eighty-five, Excepted Sections eleven, twelve, thirteen, fourteen, fifteen and sixteen of this article shall not apply to fraternal societies securing members through the lodge syste… Proofed
33-3-20 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Approval of Loans and Investments by Executive Committee or Directors No loan or investment shall be made by a life insurance company of this State without the approval of its finance or executive committee, or the approval of a m… Proofed
33-3-21 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Director or Officer Not to Receive Compensation for Negotiating Loans or Investments No director or officer of a life insurance company shall receive any money or valuable thing for negotiating or recommending any loan from such company, or for … Proofed
33-3-22 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Security for Loans No loan shall be made of the capital assets, or income, or any portion thereof, of any life insurance company incorporated by or organized under the laws of thi… Proofed
33-3-23 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Investment In Stocks and Bonds No portion of the capital, assets, or income, of any life insurance company of this State shall be used in the purchase of the stocks or bonds of any mining or … Proofed
33-3-24 Ch. 33 — INSURANCE AND ANNUITY CONTRACTS Life Insurance Notes or Credit for Premiums Nothing in this article shall prevent any company from taking premium notes, or extending credit for part of its premiums, in accordance with its usual course o… Proofed
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