WEST virginia legislature

2021 regular session

Introduced

House Bill 2407

By Delegate Foster

[Introduced February 13, 2021; Referred to the Committee on the Judiciary]

A BILL to amend and reenact §64-7-1 of the Code of West Virginia, 1931, as amended, relating to authorizing the Division of Financial Institutions to promulgate a legislative rule relating to the Fintech Regulatory Sandbox Program.

Be it enacted by the Legislature of West Virginia:

ARTICLE 7. Authorization for Department of revenue to promulgate legislative rules.

§64-7-1. Division of Financial Institutions.

The legislative rule filed in the State Register on August 13, 2020, authorized under the authority of §31A-8G-3 of this code, modified by the Division of Financial Institutions to meet the objections of the Legislative Rule-Making Review Committee and refiled in the State Register on November 30, 2020, relating to the Division of Financial Institutions (rule pertaining to the Fintech Regulatory Sandbox Program, 106 CSR 21), is authorized.

NOTE: The purpose of this bill is to authorize the Division of Financial Institutions to promulgate a legislative rule relating to the Fintech Regulatory Sandbox Program.

Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.