West Virginia Code 33-30-9 – Distribution of premium
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The proportion of total subsidence insurance premiums collected by each insurer which shall be retained by the insurer as a ceding commission shall be fixed by the board. The remainder of such premiums shall be remitted by the insurer to the board within forty-five days after the end of each calendar quarter.
Terms Used In West Virginia Code 33-30-9
- Board: means the state Board of Risk and Insurance Management. See West Virginia Code 33-30-3
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.