Senate Bill No. 212
(By Senators Helmick, Ross, Anderson and Sharpe)
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[Introduced January 23, 1998; referred to the
Committee on Banking and Insurance.]
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A BILL 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 filings.
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,
and the
publication 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.
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(NOTE: The purpose of this bill is to provide 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.
Strike-throughs indicate language that would be stricken
from present law, and underscoring indicates new language that
would be added.)