The State Treasurer of West Virginia shall accept and hold in trust, when made through the commissioner, deposits of securities or funds by insurers as follows: (a) Deposits required for a license to transact insurance in West Virginia. (b) Deposits of domestic, foreign, or alien insurers when made pursuant to the laws of other states, provinces, and countries as prerequisite for authority to transact insurance in such state, province, or country. (c) Deposits in such additional amounts as are permitted to be made by section six of this article.
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