§31A-8F-6. Authority of Affiliated Bank or Branch to Act as Agent for a Foreign Bank
(a) A West Virginia bank or branch of any out-of-state bank owned or controlled by a foreign bank may at its main or branch offices in West Virginia receive deposits, renew time deposits, close loans, service loans and receive payments on loans and other obligations as an agent for any depository institution affiliate of such […]
§31A-8F-7. Direct Agency Offices of Foreign Banks; Necessity of Licensure
(a) A foreign bank may directly transact certain banking business in this state as permitted under this article upon obtaining a license to establish and maintain a West Virginia state agency office. (b) Subsection (a) of this section does not prohibit: (1) Any foreign bank which establishes and maintains a federal agency or federal branch […]
§31A-8F-8. Application to Establish and Maintain an Agency Office; Contents
A foreign bank seeking to establish and maintain a West Virginia state agency office shall submit an application to the West Virginia board of banking and financial institutions. Such application shall contain: (a) The same information as required by the board of Governors of the federal reserve system for an application to establish an agency […]
§31A-8F-9. Application to Establish and Maintain an Agency Office; Manner of Filing and Determination
(a) A foreign bank making an application under this article for a license to establish and maintain a West Virginia state agency shall deliver to the West Virginia board of banking and financial institutions: (1) At least two duplicate originals of the foreign bank's application on the form prescribed by the board;
§31A-8E-6. Conditions for Approval
No branch of an out-of-state bank may be established in this state under this article unless the bank or its home state regulator: (a) Confirms in writing to the commissioner that as long as it maintains a branch in West Virginia, the out-of-state bank will comply with all applicable laws of this state, including consumer […]
§31A-8E-7. Powers; Additional Branches
(a) An out-of-state state bank which establishes and maintains one or more branches in West Virginia under this article may conduct any activities at such branch or branches that are authorized under the laws of this state for West Virginia state banks. (b) A West Virginia state bank may conduct any activity at a branch […]
§31A-8E-8. Examinations; Periodic Reports; Cooperative Agreements; Assessment of Fees
(a) To the extent consistent with subsection (c) of this section, the commissioner may make such examinations of any branch established and maintained in this state pursuant to this article by an out-of-state state bank as the commissioner may deem necessary to determine whether the branch is being operated in compliance with the laws of […]
§31A-8E-9. Enforcement
If the commissioner determines that a branch maintained by an out-of-state state bank in this state is being operated in violation of any provision of the laws of this state, or that such branch is being operated in an unsafe and unsound manner, the commissioner shall have the authority to take all such enforcement actions […]
§31A-8E-10. Rules and Orders
The commissioner and board may promulgate such rules and issue such orders as they determine to be necessary or appropriate in order to implement the provisions of this article.
§31A-8E-11. Notice of Subsequent Merger
An out-of-state state bank that has established and maintains a branch in this state pursuant to this article, shall give at least forty-five days' prior written notice (or, in the case of an emergency transaction, such shorter notice as is consistent with applicable state or federal law) to the commissioner of any merger, consolidation or […]