H. B. 3274
Perry, Hrutkay and Canterbury)
[Introduced March 25, 2005; referred to the
Committee on Banking and Insurance then the Judiciary.]
(By Delegates R. M. Thompson, H K. White,
A BILL to amend and reenact §31A-4-10 of the Code of West Virginia,
1931, as amended, relating to lists of stockholders of banking
institutions and bank holding companies; defining bank holding
company for the purpose of this section; and requiring certain
bank holding companies to submit annually lists of
Be it enacted by the Legislature of West Virginia:
That §31A-4-10 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-4-10. List of stockholders.
For the purposes of this section, "bank holding company" means
any company which has control over any West Virginia state
chartered bank, including financial holding companies as defined by
the Bank Holding Company Act, 12 U.S.C. 1841(p).
"Control" shall be construed consistently with Section 2(a) of
the Bank Holding Company Act, 12 U.S.C. §1841(a).
In addition to the requirements of chapter thirty-one-d of
this code, the president,
cashier, or other executive officer of
every state banking institution and every bank holding company with
a controlling interest in a state banking institution shall cause
to be kept at all times, a full and correct list of the names and
post office addresses of all of the stockholders of the banking
institution or bank holding company who directly or indirectly own,
control or hold with power to vote five percent or more of the
outstanding shares of that institution, and the number of shares
owned by each, in the office where its business is transacted. Such
This list shall be open to inspection by all of the stockholders of
the banking institution or bank holding company, and the officers
authorized by law to assess taxes, during business hours of each
day, except Sundays and holidays. A copy of such this list shall
be made on the first Monday in July of each year and verified by
the oath of the president, cashier, or other executive officer and
immediately transmitted by mail to the Commissioner of Banking at
his or her office. A bank holding company may comply with the
reporting requirement of this section by simultaneously filing with
the Commissioner a copy of the annual report it files with its
federal reserve bank.
NOTE: The purpose of this bill is to provide that bank
holding companies, as defined by the statute, should provide lists
of stockholders to the Commissioner. The bill also makes technical
amendments to delete outdated terminology.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would