H. B. 3181
(By Delegates Moore and Shook)
[Introduced March 17, 2009; referred to the
Committee on Banking and Insurance then the Judiciary.]
A BILL to amend and reenact §31A-2A-1 of the Code of West Virginia,
1931, as amended, relating to providing that the definition of
"financial institution" includes regulated consumer lenders,
residential mortgage lenders, brokers and servicers, licensed
money services businesses and all entities which are by law
under the jurisdiction and supervision of the Commissioner of
Banking.
Be it enacted by the Legislature of West Virginia:
That §31A-2A-1 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 2A. MAXWELL GOVERNMENTAL ACCESS TO FINANCIAL RECORDS ACT.
§31A-2A-1. Definitions.
As used in this article:
(a) "Customer" means any person or his or her duly authorized
representative who has transacted business with or has used the services of a financial institution or for whom a financial
institution has acted as a fiduciary in relation to an account
maintained in such person's name;
(b) "Financial institution" means a bank, a savings and loan
association, a trust company or a credit union chartered pursuant
to any state or federal law,
a regulated consumer lender licensed
under article four, chapter forty-six-a of this code, a mortgage
lender broker or servicer licensed under article seventeen, chapter
thirty-one of this code, a money service business licensed under
article two, chapter thirty-two-a of this code or other
institutions which are by law under the jurisdiction and
supervision of the Commissioner of Banking;
(c) "Financial record" means the original or a copy of any
record or document held by a financial institution pertaining to a
customer of the financial institution, including any record of a
transaction conducted by means of a customer bank communication
terminal or other electronic device. "Financial record" also means
any information derived from such records or documents;
(d) "Investigation" includes, but is not limited to, any
inquiry by a state or local law-enforcement officer, sheriff or
prosecuting attorney, or any inquiry made by a state or local
governmental entity for the purpose of determining whether there
has been a violation of any law which is punishable by imprisonment
or by a fine or other monetary liability;
(e) "Person" means an individual, partnership, corporation,
limited liability company, association, trust or any other legal
entity;
(f) "State entity" means any state or local governmental
office, officer, department, division, bureau, board or commission,
including the Legislature, and any other state or local government
agency of West Virginia, its political subdivisions and any agent
thereof; and
(g) "Subpoena" includes a subpoena duces tecum or any other
lawful subpoena to compel testimony or the disclosure or production
of documents.
NOTE: The purpose of this bill is to make the definition of
"financial institution" similar to that found elsewhere in the
banking code.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.