West Virginia Statutes
§ 33-31-5 — Dividends
West Virginia § 33-31-5
This text of West Virginia § 33-31-5 (Dividends) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
W. Va. Code § 33-31-5 (2026).
Text
No captive insurance company may pay a dividend out of, or other distribution with respect to, capital or surplus without the prior approval of the commissioner. Approval of an ongoing plan for the payment of dividends or other distributions shall be conditioned upon the retention, at the time of each payment, of capital or surplus in excess of amounts specified by, or determined in accordance with formulas approved by, the commissioner.
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Legislative History
2004 Reg. Sess., SB428; 1987 Reg. Sess., HB2970
Nearby Sections
15
§ 33-1-1
Insurance§ 33-1-10
Kinds of insurance defined§ 33-1-11
Reinsurance§ 33-1-12
Agent§ 33-1-13
Solicitor§ 33-1-14
Broker§ 33-1-15
Reciprocal insurance§ 33-1-16
Policy§ 33-1-17
Premium§ 33-1-18
Stock insurer§ 33-1-19
Mutual insurer§ 33-1-2
Insurer§ 33-1-21
Emergency servicesCite This Page — Counsel Stack
Bluebook (online)
West Virginia § 33-31-5, Counsel Stack Legal Research, https://law.counselstack.com/statute/wv/33/33-31-5.