W. Va. Code § 33-31A-9

Current through 2024 First Special Session

Section 33-31A-9 - Delinquency

In the case of a delinquency of a sponsored captive insurance company, the provisions of section seventeen, article thirty-one of this chapter shall apply, provided:

(1) The assets of a protected cell may not be used to pay any expenses or claims other than those attributable to such protected cell; and

(2) Its capital and surplus shall at all times be available to pay any expenses of or claims against the sponsored captive insurance company.

W. Va. Code § 33-31A-9