W. Va. Code § 33-10-22
Deposit of moneys collected
West Virginia · West Virginia Code Chapter 33 — Insurance · Status: effective
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- Citation
- W. Va. Code § 33-10-22, Deposit of moneys collected, West Virginia, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2383081
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Full text
The moneys collected by the commissioner in a proceeding under this article shall be from time to time deposited in one or more state or national banks, savings banks, or trust companies, and in the case of the insolvency or voluntary or involuntary liquidation of any such depository which is an institution organized and supervised under the laws of this state, such deposits shall be entitled to priority of payment on an equality with any other priority given by the banking laws of this state. The commissioner may in his discretion deposit such moneys or any part thereof in a national bank or trust company as a trust fund.