H. B. 2789
(By Delegate R. M. Thompson, H. White, Perry,
Hrutkay,
Iaquinta, Carmichael and Canterbury)
[Introduced
March 1, 2005
; referred to the
Committee on Banking and Insurance then the Judiciary.]
A BILL 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:
(a) Adopt rules and issue orders;
(b) 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;
(c) Accept any report of examination or investigation by
another bank supervisory agency having concurrent jurisdiction over
a West Virginia state 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 such bank holding company or
bank;
(d) 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 such agency's examiners at a reasonable rate
of compensation, or to provide the services of the Commissioner's
examiners to such agency at a reasonable rate of compensation:
Provided, That any such contract shall be deemed excluded from the
requirements of article three, chapter five-a of this code;
(e) 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 the
Commissioner determines that such action is necessary to carry out
his or her responsibilities under this article or 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
(f) 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
February January computed upon the total deposits in this state of
the bank holding company as of the last business day in December
thirtieth day of June of the previous year as is set out in section
eight, article two of this chapter. The payment of such
registration 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 any organizations affiliated with or representing one
or more bank supervisory agencies in accordance with agreements
between them and the Commissioner.
NOTE: The purpose of this bill is to amend the assessment
date for bank holding companies so it coincides with a date on
which banks are also assessed.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.