Insurance Commission rule relating to insurance holding company systems

SB 293 authorizes the West Virginia Insurance Commission to implement a specific regulatory rule (114 CSR 35) for insurance holding company systems. This rule, developed and modified to address prior objections from the Legislative Rule-Making Review Committee, sets operational standards for how insurance holding companies must function within the state. The bill directly affects insurance holding companies operating in West Virginia by requiring them to comply with these established standards. The rule is now officially authorized to take effect.