West Virginia Code 33-23-31 – Investments
Current as of: 2023 | Check for updates
|
Other versions
(a) A domestic society shall invest its funds only in the investments that are authorized by sections ten through twenty, inclusive, article eight of this chapter for the investment of the assets of domestic insurers.
Terms Used In West Virginia Code 33-23-31
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
(b) Foreign and alien societies shall have investments of the same general quality as required of domestic societies, except that other investments authorized by the laws of the foreign or alien society's state or country of domicile may be recognized as assets in the discretion of the commissioner.