ENROLLED
H. B. 4101
(By Delegates Thompson, Dempsey, Jenkins,
Faircloth, Kominar, Clements and Laird)
[Passed February 16, 1998; in effect ninety days from passage.]
AN ACT to amend and reenact section nineteen, article four,
chapter thirty-one-a of the code of West Virginia, one
thousand nine hundred thirty-one, as amended, relating to
providing state banks with the ability to file their
quarterly reports with the commissioner of banking by
electronic transmission; and to revise the provisions to
conform with changes in federal law regarding publication of
reports.
Be it enacted by the Legislature of West Virginia:
That section nineteen, article four, chapter thirty-one-a of
the code of West Virginia, one thousand nine hundred thirty-one,
as amended, be amended and reenacted to read as follows:
ARTICLE 4. BANKING INSTITUTIONS AND SERVICES GENERALLY.
§31A-4-19. Reports.
Every state banking institution shall make at least four
reports each year to the commissioner of banking upon his or her
call therefor. The reports shall be called for as nearly as
conveniently may be on the dates on which the comptroller of the currency shall call for reports by national banking associations,
and be in the form and contain the details as shall be prescribed
by the commissioner of banking. The reports shall be verified by
the oath of the president or active vice president or cashier and
attested by the signatures of at least three directors of the
banking institution. Each report shall show in detail, under
appropriate heads, the resources and liabilities of the banking
institution at the close of business on the date specified by the
banking commissioner, and shall be transmitted to the
commissioner within ten days from the receipt of the request for
the report. The reports may be submitted or made available
electronically in a format specified by the commissioner of
banking. An electronic filing with the appropriate federal bank
regulatory agency may be deemed as meeting the requirements of
this section, unless the commissioner objects in writing and
requires alternative filing(s).
In lieu of the report, the commissioner of banking shall
have discretion to accept from a banking institution which is a
member of the federal reserve system a report, the submission
thereof which is required of the banking institution by the
federal reserve board, or by its agency, provided that the report
shall show in detail, under appropriate heads, the resources and
liabilities of the banking institution at the close of business
on the day specified by the federal reserve board, or by its
agency, and shall contain such further details as may be deemed
necessary or desirable by the commissioner of banking.
Any report shall be at the expense of the banking institution.