{"data":{"id":"us-wv/w.-va.-code-33-34-5","jurisdiction":"us-wv","citation":"W. Va. Code § 33-34-5","heading":"Prohibited acts during period of supervision.","body":"An insurer may not engage in the following actions during the period of supervision, without the prior approval of the commissioner or his or her special deputy supervisor:\n(1) Dispose of, convey, or encumber any of its assets or its business in force;\n(2) Withdraw any of its bank accounts;\n(3) Lend any of its funds;\n(4) Invest any of its funds;\n(5) Transfer any of its property;\n(6) Incur any debt, obligation or liability;\n(7) Merge or consolidate with another company;\n(8) Approve new premiums or renew any policies;\n(9) Enter into any new reinsurance contract or treaty;\n(10) Terminate, surrender, forfeit, convert or lapse any insurance policy, certificate or contract, except for nonpayment of premiums due;\n(11) Release, pay or refund premium deposits, accrued cash or loan values, unearned premiums, or other reserves on any insurance policy, certificate or contract;\n(12) Make any material change in management; or\n(13) Increase salaries and benefits of officers or directors or the preferential payment of bonuses, dividends, or other payments deemed preferential.","path":["CHAPTER 33. INSURANCE.","ARTICLE 34. ADMINISTRATIVE SUPERVISION."],"source_url":"https://code.wvlegislature.gov/33-34-5/","current_through":"as of 2026-08-03; contains at least the enactments of the 2026 Regular Session","vintage":"","retrieved_at":"2026-09-06T00:28:49Z","sha256":"3462141119a0abe6dbb594ed645678e9b06e001ed51e68dbbe5c1fbe76a9509e","source_id":"us-wv","stale":true,"prev":"us-wv/w.-va.-code-33-34-4","next":"us-wv/w.-va.-code-33-34-6"},"notice":"GroundRules: Original legal text. Not legal advice."}