H. B. 3114
(By Delegate Guthrie)
[Introduced January 13, 2010; referred to the
Committee on Banking and Insurance then the Judiciary.]
A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §31A-4-46, relating
to requiring state-chartered banks to provide ten year, low
interest loans to consumers for purchasing solar energy
panels; and to provide rule-making authority to the
Commissioner of Banking.
Be it enacted by the Legislature of West Virginia:
That §31A-4-46 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 4. BANKING INSTITUTIONS AND SERVICES GENERALLY.
§31A-4-46. Mandatory loans for consumers purchasing solar energy
panels; rule-making.
State-chartered banks shall provide ten year, low interest
loans to consumers for the purchase of solar photovoltaic panels
for consumers who plan to transition to solar energy.
The Banking Commissioner or his or her designee shall
promulgate rules in accordance with the provisions of chapter
twenty-nine-a of this code in order to carry out and implement the
provisions of this article.
NOTE: The purpose of this bill is to require state-chartered
banks to provide ten year, low interest loans to consumers for
purchasing solar energy panels; to provide rule-making authority to
the Commissioner of Banking.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.