West Virginia Code 33-21-23 – Advancement and repayment of funds
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The attorney or other parties may advance to a reciprocal insurer upon reasonable terms such funds as it may require from time to time in its operations. Sums so advanced shall not be treated as a liability of the insurer, and, except upon liquidation of the insurer, shall not be withdrawn or repaid except out of the insurer's realized earned surplus in excess of its minimum required surplus.
Terms Used In West Virginia Code 33-21-23
- Attorney: as used in this article , refers to the attorney- in-fact of a reciprocal insurer, and such attorney may be an individual, firm or corporation. See West Virginia Code 33-21-5