Senate Bill No. 106
(By Senators Minard and Facemire)
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[Introduced February 11, 2009; referred to the Committee on
Banking and Insurance.]
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A BILL to amend and reenact §31A-8A-2 of the Code of West Virginia,
1931, as amended, relating to permitting West Virginia state
banks or bank holding companies to acquire out-of-state banks
and bank holding companies.
Be it enacted by the Legislature of West Virginia:
That §31A-8A-2 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 8A. ACQUISITIONS OF BANKS BY BANK HOLDING COMPANIES.
§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 or 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 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 companies in any
manner that would violate Section 3(d) of the Bank Holding Company
Act, 12 U.S.C. §1842(d), as amended, effective September 29, 1995,
by Section 101 of the Riegle-Neal Interstate Banking and Branching
Efficiency Act of 1994, Public Law No. 103-328.
NOTE: The purpose of this bill is to permit West Virginia
state banks or bank holding companies to acquire out-of-state banks
and bank holding companies.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.
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