West Virginia Statutes
§ 33-32-14 — Compulsory associations
(a)A risk retention group shall not be permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state, nor shall any risk retention group, or its insureds, or claimants against its insureds, receive any benefit from any such fund for claims arising out of the operations of such risk retention group.
(b)When a purchasing group obtains insurance covering its members' risks from an insurer not authorized in this state or a risk retention group, such risks, wherever resident or located, shall not be covered by any insurance guaranty fund or similar mechanism in this state.
(c)When a purchasing group obtains insurance covering its members' risks from an authorized insurer, only risks resident or located in this state shall be cove
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West Virginia § 33-32-14 (Compulsory associations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
1992 Reg. Sess., HB4666; 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 services