The interest due on payments pursuant to 23-2-9(d)(1) and 23-2C-8(d)(1) of this code shall be the prime rate plus four percent rounded to the nearest whole percent. The prime rate shall be the rate published in the Wall Street Journal on the last business day of the prior fiscal year reflecting the base rate on corporate loans posted by at least 75 percent of the nations 30 largest banks: Provided, That in no event shall the rate of interest charged to a political subdivision of the state or a volunteer fire department exceed 10 percent per annum.
Structure West Virginia Code
Chapter 23. Workers' Compensation
Article 2. Employers and Employees Subject to Chapter; Extraterritorial Coverage
§23-2-1a. Employees Subject to Chapter
§23-2-1b. Special Provisions as to Premiums
§23-2-1c. Extraterritorial Coverage; Approval and Change of Agreements
§23-2-1d. Prime Contractors and Subcontractors Liability
§23-2-3. Report Forms and Other Forms for Use of Employers
§23-2-5d. Uncollectible Receivables; Write-Offs
§23-2-6. Exemption of Contributing Employers From Liability
§23-2-7. Benefits of Chapter May Not Be Waived by Contract or Regulation
§23-2-9a. Sanctions for Default by Self-Insured Employers; Rulemaking Authority
§23-2-10. Application of Chapter to Interstate Commerce
§23-2-11. Partial Invalidity of Chapter
§23-2-12. Effect of Repeal or Invalidity of Chapter on Action for Damages
§23-2-16. Acceptance or Assignment of Premium Rate
§23-2-17. Employer Right to Hearing; Content of Petition; Appeal