West Virginia § 33-61-6 Management and administration of the company

West Virginia Statutes

§ 33-61-6 — Management and administration of the company

West Virginia·Ch. 33 Â INSURANCE·Art. 61 MINING MUTUAL INSURANCE COMPANY

(a)If the company’s board of directors determines that the affairs of the company may be administered suitably and efficiently, the company may enter into a contract with a licensed insurer, licensed health service plan, insurance service organization, third-party administrator, insurance brokerage firm or other firm or company with suitable qualifications and experience to administer some or all of the affairs of the company, subject to the continuing direction of the board of directors as required by the articles of incorporation and bylaws of the company, and the contract. All such contracts shall be awarded by competitive bidding.

(b)The company shall file a true copy of the contract with the commissioner.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) If the company’s board of directors determines that the affairs of the company may be administered suitably and efficiently, the company may enter into a contract with a licensed insurer, licensed health service plan, insurance service organization, third-party administrator, insurance brokerage firm or other firm or company with suitable qualifications and experience to administer some or all of the affairs of the company, subject to the continuing direction of the board of directors as required by the articles of incorporation and bylaws of the company, and the contract. All such contracts shall be awarded by competitive bidding.

(b) The company shall file a true copy of the contract with the commissioner.

West Virginia § 33-61-6 (Management and administration of the company) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.