West Virginia Statutes
§ 5E-1-20 — Limitation on financial institutions
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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Legislative History
2001 Reg. Sess., SB123; 1997 Reg. Sess., SB368; 1991 Reg. Sess., HB2837
Nearby Sections
15
§ 5E-1-1
Short title§ 5E-1-10
Application requirements§ 5E-1-11
Disclaimer of liability of the state§ 5E-1-13
Restrictions on investment§ 5E-1-14
Conflict of interest§ 5E-1-16
Examination§ 5E-1-17
Failure to comply§ 5E-1-18
Ruling procedure§ 5E-1-19
Effective date; transition rules§ 5E-1-2
Declaration of policy§ 5E-1-20
Limitation on financial institutions§ 5E-1-21
Confidentiality