§31A-8A-1. Definitions

For purposes of this article: (a) "Acquire" means: (1) For a company to merge or consolidate with a bank holding company;

§31A-8A-10. Penalties

(a) The commissioner or board may enforce the provisions of this article by any appropriate action in the circuit court of Kanawha County or other court having proper jurisdiction, including an action for civil money penalties or injunctive relief: Provided, That the commissioner shall promptly give notice to the home state regulator of any enforcement […]

§31A-8A-2. Scope and Statement of Legislative Intent

This article sets forth the conditions under which a company may acquire a West Virginia state bank may form or acquire a West Virginia bank holding company, or may acquire an out-of-state bank or out-of-state bank holding company. This article is intended not to discriminate against out-of-state bank holding companies or against foreign bank holding […]

§31A-8A-3. Permitted Acquisitions

(a) Except as otherwise expressly permitted by federal law, a company may not form a West Virginia bank holding company or acquire a West Virginia state bank or a bank holding company controlling a West Virginia state bank without the prior application and approval upon order of the board. A West Virginia state bank or […]

§31A-8A-4. Required Application

(a) A company that proposes to make an acquisition under this article shall: (1) File with the commissioner a copy of the application that such company has filed with the responsible federal bank supervisory agency, together with such additional information as the commissioner may prescribe; and

§31A-8A-5. Standards for Approval

(a) In deciding whether to approve an application for a proposed acquisition under this article, the board shall consider whether the acquisition may: (1) Be detrimental to the safety and soundness of the West Virginia state bank or the West Virginia bank holding company to be acquired which controls a West Virginia state bank, or […]

§31A-8A-6. Procedures Relating to Applications

(a) The board shall decide whether to approve an acquisition under this article within one hundred twenty days after receipt of a completed application: Provided, That if the board or commissioner requests additional information from the applicant following receipt of a completed application, the time limit for decision by the board shall be the later […]

§31A-8A-7. Reports; Examinations

(a) To the extent specified by the commissioner by rule, order or written request, each bank holding company that directly or indirectly controls a West Virginia bank, bank branch in West Virginia or a West Virginia bank holding company shall submit to the commissioner an annual report specifying for each bank and branch (excluding automated […]

§31A-8A-8. Authority to Issue Rules; Cooperative Agreements; Fees

In order to carry out the purposes of this article, the Commissioner may: (1) Propose rules and issue orders;

§31A-8A-9. Authority to Conduct Banking Business; Credit Card Processing

(a) Except as authorized in this article or articles eight-d, eight-e or eight-f of this chapter, no banking institution incorporated under the laws of any other state or having its principal place of business in any other state may receive deposits or transact any banking business of any kind in this state other than the […]