HB4245 H B&I AMT #1 1-28

Reed 3253

The Committee on Banking and Insurance moved to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

Eng. House Bill No. 4245 -- H. B. 4245 -- “A Bill to amend and reenact §31A-4-20 of the Code of West Virginia, 1931, as amended relating to requirements for the review of the financial condition of state chartered banks; requiring the cashier or executive officer of a state banking institution to provide shareholders with the institution’s most recent year-end audited financial statement: requiring that the board of directors of a bank, or its controlling bank holding company, appoint an outside auditing firm in lieu of having the shareholders appoint a bank examining committee; eliminating the requirement that a bank transmit a copy of an audit report of its financial condition to the division of financial institutions; and eliminating the  ability to require the presence of the examining committee or executive committee during an examination.”

Adopted

Rejected