(a) A domestic society shall invest its funds only in the investments that are authorized by sections ten through twenty, inclusive, article eight of this chapter for the investment of the assets of domestic insurers.
(b) Foreign and alien societies shall have investments of the same general quality as required of domestic societies, except that other investments authorized by the laws of the foreign or alien society's state or country of domicile may be recognized as assets in the discretion of the commissioner.
Structure West Virginia Code
Article 23. Fraternal Benefit Societies
§33-23-2. Applicability of Other Provisions
§33-23-2a. Applicability of Insurance Fraud Prevention Act
§33-23-3. Fraternal Benefit Societies Defined
§33-23-4. Lodge System Defined
§33-23-5. Representative Form of Government Defined
§33-23-7. Retention of Corporate Powers by Existing Incorporated Societies
§33-23-8. Incorporation of Existing Voluntary Associations
§33-23-9. Office and Meetings of Domestic Society
§33-23-10. Consolidations and Mergers
§33-23-11. Conversion of Society to Mutual Life Insurer
§33-23-12. Qualifications for Benefit Membership
§33-23-13. Amendment of Articles of Incorporation, Constitution or Laws
§33-23-14. Operation of Charitable, Benevolent or Educational Institutions
§33-23-15. Payment of Benefits Other Than Insurance Benefits
§33-23-16. No Personal Liability for Payment of Benefits
§33-23-17. Kinds of Benefits Authorized
§33-23-18. Benefits on Lives of Children
§33-23-19. Nonforfeiture Benefits, Cash Surrender Values, Loans and Options
§33-23-21. Benefits Not Liable to Process
§33-23-22. Certificates and Agreement With Members
§33-23-23. Approval of Certificates; Standard and Prohibited Provisions
§33-23-24. Filing and Approval of Accident and Sickness Insurance Certificates
§33-23-25. Waiver of Laws and Constitution of Society
§33-23-27. Licensing of Foreign and Alien Societies
§33-23-29. Fees; Exemption of Funds and Assets From Taxation
§33-23-32. Reports and Synopses of Annual Statements; Valuations