Senate Bill No. 85

(By Senators Manchin, Anderson, Boley,

Grubb and Macnaughtan)


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[Introduced January 20, 1995; referred to the

Committee on Banking and Insurance; and then to

the Committee on the Judiciary.]

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A BILL to amend article seven, chapter sixty-four of the code of West Virginia, one thousand nine hundred thirty-one, as amended, by adding thereto a new section, designated section nine, relating to authorizing the division of banking to promulgate legislative rules relating to the legal lending limit.

Be it enacted by the Legislature of West Virginia:

That article seven, chapter sixty-four of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended by adding thereto a new section, designated section nine,
to read as follows:
ARTICLE 7. AUTHORIZATION FOR DEPARTMENT OF TAX AND REVENUE TO PROMULGATE LEGISLATIVE RULES.

§64-7-9. Division of banking.
The legislative rules filed in the state register on the twelfth day of August, one thousand nine hundred ninety-four, modified by the division of banking to meet the objections of the legislative rule-making review committee and refiled in the state register on the second day of November, one thousand nine hundred ninety-four, relating to the division of banking (legal lending limit), are authorized.

NOTE: The purpose of this bill is to authorize the Division of Banking to promulgate legislative rules relating to the legal lending limit.

This section is new; therefore, strike-throughs and underscoring have been omitted.