§ 33-24-4 — Exemptions; applicability of insurance laws

(a) Every corporation defined in §33-24-2 of this code is hereby declared to be a scientific, nonprofit institution and exempt from the payment of all property and other taxes. Every corporation, to the same extent the provisions are applicable to insurers transacting similar kinds of insurance and not inconsistent with the provisions of this article, shall be governed by and be subject to the provisions as herein below indicated, of the following articles of this chapter: §33-2-1et seq.of this code (Insurance Commissioner); §33-4-1et seq.of this code (general provisions), except that §33-4-16 of this code may not be applicable thereto; §33-5-20 of this code (borrowing by insurers); §33-6-34 of this code (fee for form, rate and rule filing); §33-6C-1et seq.of this code (guaranteed loss ratios as applied to individual sickness and accident insurance policies); §33-7-1et seq.of this code (assets and liabilities); §33-8A-1et seq.of this code (use of clearing corporations and Federal Reserve book-entry system); §33-11-1et seq.of this code (unfair trade practices); §33-12-1et seq.of this code (insurance producers and solicitors), except that the agent’s license fee shall be $25; §33-15-2a of this code (definitions); §33-15-2b of this code (guaranteed issue; limitation of coverage; election; denial of coverage; network plans); §33-15-2d of this code (exceptions to guaranteed renewability); §33-15-2e of this code (discontinuation of particular type of coverage; uniform termination of all coverage; uniform modification of coverage); §33-15-2f of this code (certification of creditable coverage); §33-15-2g (applicability); §33-15-4e of this code (benefits for mothers and newborns); §33-15-14 of this code (policies discriminating among health care providers); §33-15-16 of this code (policies not to exclude insured’s children from coverage; required services; coordination with other insurance); §33-15-18 of this code (equal treatment of state agency); §33-15-19 of this code (coordination of benefits with Medicaid); §33-15A-1et seq.of this code (West Virginia Long-Term Care Insurance Act); §33-15C-1et seq.of this code (diabetes insurance); §33-16-3 of this code (required policy provisions); §33-16-3a of this code (same - mental health); §33-16-3d of this code (Medicare supplement insurance); §33-16-3f of this code (required policy provisions - treatment of temporomandibular joint disorder and craniomandibular disorder); §33-16-3j of this code (hospital benefits for mothers and newborns); §33-16-3k of this code (limitations on preexisting condition exclusions for health benefit plans); §33-16-3l of this code (renewability and modification of health benefit plans); §33-16-3m of this code (creditable coverage); §33-16-3n of this code (eligibility for enrollment); §33-16-11 of this code (group policies not to exclude insured’s children from coverage; required services; coordination with other insurance); §33-16-13 of this code (equal treatment of state agency); §33-16-14 of this code (coordination of benefits with Medicaid); §33-16-16 of this code (insurance for diabetics); §33-16A-1et seq.of this code (group health insurance conversion); §33-16C-1et seq.of this code (employer group accident and sickness insurance policies); §33-16D-1et seq.of this code (marketing and rate practices for small employer accident and sickness insurance policies); §33-26A-1et seq.of this code (West Virginia Life and Health Insurance Guaranty Association Act), after October 1, 1991, §33-27-1et seq.of this code (insurance holding company systems); §33-28-1et seq.of this code (individual accident and sickness insurance minimum standards); §33-33-1et seq.of this code (annual audited financial report); §33-34-1et seq.of this code (administrative supervision); §33-34A-1et seq.of this code (standards and commissioner’s authority for companies considered to be in hazardous financial condition); §33-35-1et seq.of this code (criminal sanctions for failure to report impairment); §33-37-1et seq.of this code (managing general agents); §33-40A-1et seq.of this code (risk-based capital for health organizations); and §33-41-1et seq.of this code (Insurance Fraud Prevention Act) and no other provision of this chapter may apply to these corporations unless specifically made applicable by the provisions of this article. If, however, the corporation is converted into a corporation organized for a pecuniary profit or if it transacts business without having obtained a license as required by §33-24-5 of this code, it shall thereupon forfeit its right to these exemptions.

(b) Every corporation subject to this article shall comply with mental health parity requirements in this chapter.

Legislative History

2020 Reg. Sess., SB291; 2016 Reg. Sess., SB429; 2015 Reg. Sess., HB2728; 2006 Reg. Sess., SB223; 2005 Reg. Sess., SB270; 2003 Reg. Sess., HB2765; 2002 Reg. Sess., SB506; 2001 Reg. Sess., SB493; 2001 Reg. Sess., SB513; 1997 Reg. Sess., HB2667; 1997 Reg. Sess., SB371; 1996 Reg. Sess., SB312; 1994 Reg. Sess., SB434; 1994 Reg. Sess., SB522; 1993 Reg. Sess., HB2181; 1993 Reg. Sess., HB2286; 1993 Reg. Sess., SB326; 1992 Reg. Sess., HB4184; 1992 Reg. Sess., HB4666; 1991 Reg. Sess., HB2462; 1991 Reg. Sess., SB535; 1990 Reg. Sess., HB4195; 1990 Reg. Sess., SB481; 1989 Reg. Sess., SB252; 1989 Reg. Sess., HB2526; 1986 Reg. Sess., HB1520; 1981 Reg. Sess., SB269; 1974 Reg. Sess., SB403; 1957 Reg. Sess., HB126