West Virginia § 33-21-24 - 33-21-24. Rules for determining financial condition of reciprocal insurer.
Full text of West Virginia West Virginia Code § 33-21-24 — 33-21-24. Rules for determining financial condition of reciprocal insurer., with citation guidance and answers to common questions.
§ 33-21-24. 33-21-24. Rules for determining financial condition of reciprocal insurer.
In determining the financial condition of a reciprocal insurer the commissioner shall apply the following rules:
(a) He shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis.
(b) The surplus deposits of subscribers shall be allowed as assets, except that any premium deposit delinquent for ninety days shall first be charged against such surplus deposit.
(c) The surplus deposits of subscribers shall not be charged as a liability.
(d) All premium deposits delinquent less than ninety days shall be allowed as assets.
(e) An assessment levied upon subscribers, and not collected, shall not be allowed as an asset.
(f) The contingent liability of subscribers shall not be allowed as an asset.
(g) The computation of reserves shall be based upon premium deposits other than membership fees and without any deduction for the compensation of the attorney.
Source: official West Virginia text · Last verified 2026-08-27
Frequently Asked Questions About West Virginia § 33-21-24
What does West Virginia Code § 33-21-24 cover?
Section 33-21-24 ("33-21-24. Rules for determining financial condition of reciprocal insurer.") is part of the West Virginia Code, the codified statutory law of West Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite West Virginia § 33-21-24?
A common citation format is "West Virginia Code § 33-21-24" (West Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of West Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the West Virginia official source linked on this page or consult a licensed West Virginia attorney.
How does West Virginia § 33-21-24 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in West Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in West Virginia.