(a) In addition to complying with the requirements of this article, any risk retention group operating in this state prior to enactment of the amendments made to this article in the 1992 regular session of the Legislature shall comply with the provisions of subsection (a), section four of this article before December 31, 1992.

Terms Used In West Virginia Code 33-32-24

  • Commissioner: means the Insurance Commissioner of the State of West Virginia or the commissioner, director or superintendent of insurance in any other state. See West Virginia Code 33-32-2
  • Purchasing group: means any group which:

    (1) Has as one of its purposes the purchase of liability insurance on a group basis. See West Virginia Code 33-32-2

  • Risk retention group: means any corporation or other

    limited liability association formed under the laws of any state: (1) Whose primary activity consists of assuming and spreading all, or any portion, of the liability exposure of its group members. See West Virginia Code 33-32-2

  • State: means any state of the United States or the District of Columbia. See West Virginia Code 33-32-2

(b) Any purchasing group which was doing business in this state prior to enactment of the amendments made to this article in the 1992 regular session of the Legislature shall furnish notice to the commissioner pursuant to the provisions of section seventeen of this article before December 31, 1992.