Bill Text: WV HB5057 | 2024 | Regular Session | Introduced
Bill Title: To raise the threshold for nominal referral fees from $25 to $100.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2024-04-22 - Chapter 170, Acts, Regular Session, 2024 [HB5057 Detail]
Download: West_Virginia-2024-HB5057-Introduced.html
WEST virginia legislature
2024 regular session
Introduced
House Bill 5057
By Delegate W. Hall
[Introduced January 24, 2024; Referred
to the Committee on Banking and Insurance then Judiciary ]
A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §33-4-24, relating to defining a nominal fee for providing a referral to an insurance company or producer.
Be it enacted by the Legislature of West Virginia:
ARTICLE 4. GENERAL PROVISIONS.
§33-4-24. Nominal fees with respect to referrals.
The phrase "nominal fee" shall mean a one-time fee of $100 or less.
NOTE: The purpose of this bill is to define a nominal fee for providing a referral to an insurance company or producer.
Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.
