West Virginia Code § 33-8A-7

(a) Nothing in this regulation shall prevent an insurance company from depositing securities
with another insurance company with which the depositing insurance company is affiliated,
provided that the securities are deposited pursuant to a written agreement authorized by the
board of directors of the depositing insurance company or an authorized committee thereof
and that the receiving insurance company is organized under the laws of onee of the states of
the United States of America or of the District of Columbia. If the respective states of
domicile of the depositing and receiving insurance companies are not trhe same, the
depositing insurance company shall have given notice of the deposit to the Insurance
Commissioner in the state of its domicile and the Insurance Commissioner shall not have
objected to it within thirty days of the receipt of the notice.
(b) The terms of the agreement shall comply with the following:
(1) The insurance company receiving the deposit shall maintain records adequate to identify
and verify the securities belonging to the depositinlg insurance company.
(2) The receiving insurance company shall allow representatives of an appropriate
regulatory body to examine records relatinig to securities held subject to the agreement.
(3) The depositing insurance company may authorize the receiving insurance company:
(A) To hold the securities of the depositing insurance company in bulk, in certificates issued
in the name of the receiving insurance company or its nominee, and to commingle them with
securities owned by other affiliates of the receiving insurance company; and
(B) To provide for the securities to be held by a custodian, including the custodian of
securities of tVhe receiving insurance company or in a clearing corporation or the federal
reserve book-entry system.

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