BILL-Banking, Acquisition
Senate Bill No. 155
(By Senators Manchin, Anderson, Grubb and Minard)
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[Introduced January 31, 1994; referred to the
Committee on Banking and Insurance; and then to the
Committee on the Judiciary.]
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A BILL to amend and reenact section two, article three, chapter
sixty-four of the code of West Virginia, one thousand nine
hundred thirty-one, as amended, relating to authorizing the
division of banking to promulgate legislative rules relating
to the acquisition of property by financial institutions and
the valuation of real estate owned by state-chartered banks.
Be it enacted by the Legislature of West Virginia:
That section two, article three, chapter sixty-four of the
code of West Virginia, one thousand nine hundred thirty-one, as
amended, be amended and reenacted, to read as follows:
ARTICLE 3. AUTHORIZATION FOR DEPARTMENT OF COMMERCE, LABOR AND
ENVIRONMENTAL RESOURCES TO PROMULGATE LEGISLATIVE RULES.
§64-3-2. Division of banking.
(a) The legislative rules filed in the state register on the
eleventh day of June, one thousand nine hundred eighty-two,
relating to commissioner of banking (communication terminals andinterchange systems), are authorized.
(b) The legislative rules filed in the state register on the
fifteenth day of December, one thousand nine hundred eighty-
three, relating to the commissioner of banking (consumer credit
sales), are authorized.
(c) The legislative rules filed in the state register on the
nineteenth day of August, one thousand nine hundred eighty-three,
relating to the commissioner of banking (legal lending limit),
are authorized.
(d) The legislative rules filed in the state register on the
seventh day of November, one thousand nine hundred eighty-six,
modified by the commissioner of banking to meet the objections of
the legislative rule-making review committee and refiled in the
state register on the eleventh day of December, one thousand nine
hundred eighty-six, relating to the commissioner of banking
(implementing the West Virginia community reinvestment act), are
authorized.
(e) The legislative rules filed in the state register on the
twenty-fifth day of October, one thousand nine hundred eighty-
eight, modified by the commissioner of banking to meet the
objections of the legislative rule-making review committee and
refiled in the state register on the seventh day of December, one
thousand nine hundred eighty-eight, relating to the commissioner
of banking (subsidiary bank holding the stock of its parent
company as collateral), are authorized.
(f) The legislative rules filed in the state register on the
twelfth day of August, one thousand nine hundred ninety-one,modified by the division of banking to meet the objections of the
legislative rule-making review committee and refiled in the state
register on the fifteenth day of November, one thousand nine
hundred ninety-one, relating to the division of banking (West
Virginia consumer credit and protection act), are authorized.
(g) The legislative rules filed in the state register on the
ninth day of August, one thousand nine hundred ninety-one,
modified by the division of banking to meet the objections of the
legislative rule-making review committee and refiled in the state
register on the fifteenth day of November, one thousand nine
hundred ninety-one, relating to the division of banking (lease
financing transactions), are authorized.
(h) The legislative rules filed in the state register on the
ninth day of August, one thousand nine hundred ninety-one,
modified by the division of banking to meet the objections of the
legislative rule-making review committee and refiled in the state
register on the fifteenth day of November, one thousand nine
hundred ninety-one, relating to the division of banking
(operation of state-chartered financial institutions in West
Virginia), are authorized.
(i) The legislative rules filed in the state register on the
twelfth day of August, one thousand nine hundred ninety-one,
modified by the division of banking to meet the objections of the
legislative rule-making review committee and refiled in the state
register on the fifteenth day of November, one thousand nine
hundred ninety-one, relating to the division of banking (West
Virginia industrial bank and industrial loan company act), areauthorized.
(j) The legislative rules filed in the state register on the
twelfth day of August, one thousand nine hundred ninety-one,
modified by the division of banking to meet the objections of the
legislative rule-making review committee and refiled in the state
register on the fifteenth day of November, one thousand nine
hundred ninety-one, relating to the division of banking (West
Virginia consumer credit and protection act and the money and
interest article of chapter forty-seven), are authorized.
(k) The legislative rules filed in the state register on the
ninth day of August, one thousand nine hundred ninety-one,
modified by the division of banking to meet the objections of the
legislative rule-making review committee and refiled in the state
register on the fifteenth day of November, one thousand nine
hundred ninety-one, relating to the division of banking
(permissible additional charges in connection with a consumer
credit sale), are authorized.
(l) The legislative rules filed in the state register on the
twenty-sixth day of June, one thousand nine hundred ninety-two,
modified by the division of banking to meet the objections of the
legislative rule-making review committee and refiled in the state
register on the seventeenth day of August, one thousand nine
hundred ninety-two, relating to the division of banking (general
rules implementing the West Virginia community reinvestment act),
are authorized.
(m) The legislative rules filed in the state register on the
sixteenth day of August, one thousand nine hundred ninety-three,modified by the division of banking to meet the objections of the
legislative rule-making review committee and refiled in the state
register on the twenty-first day of October, one thousand nine
hundred ninety-three, relating to the division of banking
(acquisition of property by financial institutions and valuation
of real estate owned by state-chartered banks), are authorized.
NOTE: The purpose of this bill is to authorize the Division
of Banking to promulgate legislative rules relating to the
acquisition of property by financial institutions and the
valuation of real estate owned by state-chartered banks.
Strike-throughs indicate language that would be stricken
from the present law, and underscoring indicates new language
that would be added.
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