March 23rd, 2015
Petitioner appeals the order of the Circuit Court of Putnam County entered December 30, 2013, granting respondents’ Motions to Dismiss under Rule 12(b)(6) of the West Virginia Rules of Civil Procedure. The complaints alleged respondents, life insurance companies doing business in West Virginia, failed to comply with the West Virginia Uniform Unclaimed Property Act (UPA) by failing to turn over unclaimed property as defined by the UPA. The complaints further alleged that respondents breached their statutory duties of good faith by failing to conduct annual examinations of life insurance policy holders to determine if any policies were payable under the UPA.
