A reciprocal insurer, upon being licensed therefor as provided in this article, when possessed of and maintaining on deposit surplus funds equal to the minimum capital required of a stock insurer to transact like kinds of insurance, may transact fire, marine, casualty or surety insurance, and may purchase reinsurance upon the risk of any subscriber, and may grant reinsurance as to any kind of insurance it is licensed to transact direct. No reciprocal insurer shall be licensed to transact, nor shall any reciprocal insurer transact, life or accident and sickness insurance.
Structure West Virginia Code
Article 21. Reciprocal Insurers
§33-21-2. General Laws Applicable
§33-21-6. Application for License
§33-21-7. Issuance of License; Suspension, Revocation or Renewal
§33-21-9. Modification of Subscribers' Agreement or Power of Attorney
§33-21-12. Process and Venue; Annual Fee
§33-21-14. Who May Be Subscribers
§33-21-15. Subscribers' Advisory Committee
§33-21-16. Subscribers' Liability -- Generally
§33-21-17. Same -- on Judgments
§33-21-18. Assessments -- Generally
§33-21-20. Same -- Maximum Liability
§33-21-21. Nonassessable Policies
§33-21-22. Distribution of Unused Premiums, Savings or Credits
§33-21-23. Advancement and Repayment of Funds
§33-21-24. Rules for Determining Financial Condition of Reciprocal Insurer
§33-21-25. Distribution of Assets to Subscribers Upon Liquidation