Bill-Banking, 106csr5
H. B. 4179

(By Delegates Mahan, R. Thompson, Cann,
Kominar, Armstead and Faircloth)

[Introduced January 30, 2004; referred to
the Committee on Banking and Insurance then the Judiciary
.]

A BILL to amend and reenact article 7, chapter 64 of the code of West Virginia, 1931, as amended, relating to authorizing the division of banking to promulgate a legislative rule relating to residential mortgage lenders, brokers and loan originators.

Be it enacted by the Legislature of West Virginia:
That article 7, chapter 64 of the code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:

ARTICLE 7. AUTHORIZATION FOR DEPARTMENT OF TAX AND REVENUE TO PROMULGATE LEGISLATIVE RULES.

§64-7-1. Division of banking.
The legislative rule filed in the state register on the fifteenth day of July, two thousand three, authorized under the authority of section three, article seventeen, chapter thirty-one, of this code, 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 twentieth day of January, two thousand four, relating to the division of banking (residential mortgage lenders, brokers and loan originators, 106 CSR 5), is authorized.

NOTE: The purpose of this bill is to authorize the Division of Banking to promulgate a legislative rule relating to Residential Mortgage Lenders, Brokers and Loan Originators.

This section is new; therefore, strike-throughs and underscoring have been omitted.