Enrolled Version - Final Version
House Bill 2789 History
OTHER VERSIONS -
Introduced Version
|
Committee Substitute
|
| Email
Key: Green = existing Code. Red = new code to be enacted
ENROLLED
COMMITTEE SUBSTITUTE
FOR
H. B. 2789
(By Delegates R. M. Thompson, H. White, Perry,
Hrutkay, Iaquinta, Carmichael and Canterbury)
[Passed April 7,2005; in effect ninety days from passage.]
AN ACT to
amend and reenact §31A-8A-8 of the Code of West Virginia,
1931, as amended, relating to the assessment date for bank
holding companies.
Be it enacted by the Legislature of West Virginia:
That
§31A-8A-8 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 8A. ACQUISITION OF BANKS BY BANK HOLDING COMPANIES.
§31A-8A-8.
Authority to issue rules; cooperative agreements; fees.
In order to carry out the purposes of this article, the
Commissioner may:(1) Propose rules and issue orders;
(2) Enter into cooperative, coordinating or information-
sharing agreements with any other bank supervisory agency or any
organization affiliated with or representing one or more bank
supervisory agencies;
(3) Accept any report of examination or investigation by
another bank supervisory agency having concurrent jurisdiction over
a West Virginia bank or a bank holding company that controls a West
Virginia state bank in lieu of conducting the Commissioner's own
examination or investigation of the bank holding company or bank;
(4) Enter into contracts with any bank supervisory agency
having concurrent jurisdiction over a West Virginia state bank or
a bank holding company that controls a West Virginia state bank to
engage the services of the agency's examiners at a reasonable rate
of compensation, or to provide the services of the Commissioner's
examiners to any bank supervisory agency at a reasonable rate of
compensation: Provided, That any contract for examiners shall be
excluded from the requirements of article three, chapter five-a of
this code;
(5) Enter into joint examinations or joint enforcement actions
with any other bank supervisory agency having concurrent
jurisdiction over any West Virginia state bank or any bank holding
company that controls a West Virginia state bank: Provided, That
the Commissioner may take any such action independently if he or
she determines that the action is necessary to carry out the
responsibilities set forth in this article to enforce compliance
with the laws of this state: Provided, however, That in the case of
an out-of-state bank holding company, the Commissioner shall
recognize the authority of the home state regulator over corporate governance matters and the primary responsibility of the home state
regulator with respect to safety and soundness matters; and
(6) Assess supervisory and examination fees that shall be
payable by any bank holding company operating a bank or bank branch
in West Virginia in connection with the Commissioner's performance
of his or her duties under this article. The Commissioner shall
charge and collect from each bank holding company and pay into a
special revenue account in the State Treasury for the Department of
Banking an annual assessment payable on the fifteenth day of
January computed on total deposits in this state of the bank
holding company as of the thirtieth day of June of the previous
year as is set out in section eight, article two of this chapter.
The payment of the assessment fee shall be accompanied by the
report prescribed by the Commissioner under subsection (a), section
seven of this article. Examination fees may be shared with other
bank supervisory agencies or organizations affiliated with or
representing one or more bank supervisory agencies in accordance
with agreements between them and the Commissioner.