§ 31A-8A-4 — Required application

West Virginia § 31A-8A-4

• Jurisdiction: West Virginia
• Ch. 31A: BANKS AND BANKING
• Art. 8A: ACQUISITIONS OF BANKS BY BANK HOLDING COMPANIES

Text

(a) A company that proposes to make an acquisition under this article shall:

(1) File with the commissioner a copy of the application that such company has filed with the responsible federal bank supervisory agency, together with such additional information as the commissioner may prescribe; and

(2) Pay to the commissioner a $4,500 application fee.

(b) To the extent consistent with the effective discharge of the commissioner's responsibilities, the forms established under this article for application and reporting shall conform to those established by the board of Governors of the federal reserve system under the Bank Holding Company Act.

(c) In connection with an application received under this article, the commissioner shall:

(1) Require that prior notice of the application be published once in a daily newspaper of general circulation and provide an opportunity for public comment; and

(2) Make the application available for public inspection to the extent required or permitted under applicable state law.

(d) If the applicant is an out-of-state bank holding company that is not incorporated under the laws of this state, it shall submit with the application proof that the applicant has complied with applicable requirements of West Virginia law requiring foreign corporations to qualify to do business in the State of West Virginia.

Legislative History

1996 Reg. Sess., SB280; 1991 Reg. Sess., HB2793; 1986 Reg. Sess., HB1170; 1985 Reg. Sess., HB1706; 1984 Reg. Sess., HB1675; 1982 Reg. Sess., SB331