33-5-1 Scope of article
33-5-2 Application of general laws
33-5-3 Articles of incorporation
33-5-4 Certificate of incorporation
33-5-5 Amendment of articles of incorporation
33-5-6 Formation of mutuals — Applications for insurance
33-5-7 Formation of mutuals — Deposit of premiums; filing of trust agreement; issuance and effective date of policies
33-5-8 Formation of mutuals — Assets required; temporary capital stock
33-5-9 Mutual bylaws
33-5-10 Mutual quorum
33-5-11 Mutual membership
33-5-12 Corporate rights of mutual members
33-5-13 Contingent liability of mutual members
33-5-14 Enforcement of contingent liability
33-5-15 Mutual nonassessable policies
33-5-16 Participating policies
33-5-17 Dividends to stockholders
33-5-18 Dividends to mutual members
33-5-19 Illegal dividends; liability; penalty
33-5-20 Borrowing by insurers
33-5-21 Management and exclusive agency contracts
33-5-22 Impairment of capital or assets
33-5-23 Mutualization of stock insurer
33-5-24 Converting mutual insurer
33-5-25 Mergers and consolidations of stock insurers
33-5-26 Reinsurance
33-5-27 Redomestication of stock and mutual insurers
33-5-28 Mergers and consolidations of mutual insurers
33-5-29 Mutual member’s share of assets on liquidation
33-5-30 Insider trading
33-5-31 Proxies, consents and authorizations in respect of any voting security issued by a domestic insurer
33-5-32 Principal place of business of domestic insurers
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Terms Used In West Virginia Code > Chapter 33 > Article 5 - Organization and Procedures of Domestic Stock and Mutual Insurers

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fiduciary: A trustee, executor, or administrator.
  • in writing: includes any representation of words, letters, or figures, whether by printing, engraving, writing, or otherwise. See West Virginia Code 2-2-10
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Quorum: The number of legislators that must be present to do business.
  • State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
  • Town: includes a city, village or town, and the word "council" any body or board, whether composed of one or more branches, which is authorized to make ordinances for the government of a city, town, or village. See West Virginia Code 2-2-10
  • Trustee: A person or institution holding and administering property in trust.