This bill amends the Code of West Virginia to authorize the Insurance Commission to promulgate a legislative rule concerning insurance holding company systems. Specifically, it references the legislative rule filed in the State Register on July 22, 2025, which was modified to address concerns from the Legislative Rule-Making Review Committee and subsequently refiled on August 21, 2025. The new legal language inserted into the current law identifies the rule as "114 CSR 35."

The primary purpose of this bill is to provide the necessary authorization for the Insurance Commission to implement regulations that govern insurance holding company systems, thereby ensuring compliance with state law and addressing any regulatory gaps. This legislative action aims to enhance the oversight and management of insurance holding companies within West Virginia.

Statutes affected:
Introduced Version: 64-7-1