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West Virginia Surplus Lines Warning Statement1. An insurer that is not licensed in this state is issuing the insurance policy that you have applied to purchase. These companies are called \"nonadmitted\"
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Obtain the necessary form for section 33-12c-5 - surplus from the appropriate governing body.
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Who needs section 33-12c-5 - surplus?

01
Individuals or entities who have identified a surplus in their assets or funds and need to report it to the appropriate authorities.
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Organizations or businesses mandated by the governing body to fill out section 33-12c-5 - surplus as part of their financial reporting obligations.

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Section 33-12c-5 - surplus relates to the regulation of surplus funds within certain business entities, outlining how surplus assets should be managed and reported.
Entities that are subject to the regulations under section 33-12c-5, typically corporations and other organizations that manage surplus funds, are required to file this section.
Filling out section 33-12c-5 typically involves providing detailed information about the surplus funds, including amounts, intended use, and relevant financial data as specified in the guidelines.
The purpose of section 33-12c-5 is to ensure transparency and proper management of surplus funds by requiring entities to report their surplus and the intended uses.
Entities must report the total amount of surplus funds, a breakdown of how these funds are allocated, and any relevant financial statements or documentation that supports the reported amounts.
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