West Virginia Code 23-1-2 – Oversight of the workers’ compensation commission
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The Insurance Commissioner shall report at least quarterly to the Joint Committee on Government and Finance regarding the funds created in § 23-2C-1 et seq. of this code. This analysis shall include the current balances in the fund and revenue generated and expended in relationship to the liabilities and assets of the funds and estimates of any debt reduction relative to the fund over the next reporting period.
Terms Used In West Virginia Code 23-1-2
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.