West Virginia § 5E-1-20 Limitation on financial institutions

West Virginia Statutes

§ 5E-1-20 — Limitation on financial institutions

West Virginia § 5E-1-20

Ch. 5EVENTURE CAPITAL COMPANY

Art. 1WEST VIRGINIA CAPITAL COMPANY ACT

This text of West Virginia § 5E-1-20 (Limitation on financial institutions) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 5E-1-20 (2026).

Text

Not more than forty-nine percent of the total capital base of any capital company which is not a small business investment company may be owned by banks, savings and loan associations, savings banks or other financial institutions, or any affiliate thereof, as investors. No officer, employee or director of any such financial institution may vote as a member of the board of any capital company formed under the provisions of this article if the matter being voted upon affects the financial institution for which the board member serves as an officer, employee or director.

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Not more than forty-nine percent of the total capital base of any capital company which is not a small business investment company may be owned by banks, savings and loan associations, savings banks or other financial institutions, or any affiliate thereof, as investors. No officer, employee or director of any such financial institution may vote as a member of the board of any capital company formed under the provisions of this article if the matter being voted upon affects the financial institution for which the board member serves as an officer, employee or director.