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The commissioner shall have the authority to promulgate legislative rules, including emergency rules, implementing this article, pursuant to article three, chapter twenty-nine-a of this code. Such rules may include standards for evaluating reasonableness of payments under viatical settlement contracts for persons who are terminally or chronically ill; regulation of discount rates used to determine the amount paid in exchange for assignment, transfer, sale, devise or bequest of a benefit under a life insurance policy insuring the life of a person that is chronically or terminally ill; and provisions governing the relationship and responsibilities of both insurers and viatical settlement providers and viatical settlement brokers during the viatication of a life insurance policy or certificate.
Cite this article: FindLaw.com - West Virginia Code Chapter 33. Insurance § 33-13C-17. Authority to promulgate rules - last updated January 01, 2020 | https://codes.findlaw.com/wv/chapter-33-insurance/wv-code-sect-33-13c-17/
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