§33-26A-7. Board of Directors; Members; Vacancies; Voting Rights; Appointment and Reimbursement
(a) The board of directors of the association shall consist of not less than seven nor more than 11 member insurers serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the commissioner. Vacancies on the board shall be filled […]
§33-26A-8. Powers and Duties of Association
(a) If a member insurer is an impaired insurer, the association may, in its discretion, and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer, that are approved by the commissioner: (1) Guarantee, assume, reissue, or reinsure, or cause to be guaranteed, assumed, reissued, or […]
§33-26A-9. Assessments
(a) For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers, separately for each account, at such time and for such amounts as the board finds necessary. Assessments shall be due not less than 30 days after prior […]
§33-26A-10. Plan of Operation
(a) (1) The association shall submit to the commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable and equitable administration of the association. The plan of operation and any amendments thereto shall become effective upon the commissioner's written approval or unless he or she has not disapproved […]
§33-26A-1. Short Title
This article shall be known and may be cited as the "West Virginia Life and Health Insurance Guaranty Association Act."
§33-26A-2. Purpose of Article and Association of Insurers
(a) The purpose of this article is to protect, subject to certain limitations, the persons specified in §33-26A-3(a) of this code against failure in the performance of contractual obligations, under life, health, and annuity policies, plans, or contracts specified in §33-26A-3(b) of this code, because of the impairment or insolvency of the member insurer that […]
§33-26A-3. Scope of Article; Policies and Contracts Covered; Exclusions; Extent of Liability
(a) This article shall provide coverage for the policies and contracts specified in §33-26A-3(b) of this code: (1) To persons who, regardless of where they reside (except for nonresident certificate holders under group policies or contracts), are the beneficiaries, assignees, or payees, including health care providers rendering services covered under health insurance policies or certificates, […]
§33-26A-4. Construction of Article
This article shall be liberally construed to effect the purpose under section two of this article which shall constitute an aid and guide to interpretation.
§33-26A-5. Definitions
As used in this article: (1) “Account” means either of the two accounts created under §33-26A-6 of this code.