This legal document pertains to the West Virginia Board of Banking and Financial Institutions. It governs various aspects such as the appointment, qualifications, terms, oath, quorum, meetings, disqualification of members from participation, compensation, records, office space, personnel, and continuation of the board. The board consists of six members and the commissioner, who serves as the chairman. The members are appointed by the Governor with the advice and consent of the Senate.

These legal documents govern various aspects of banking institutions and services in West Virginia. They cover the chartering and operation of banking institutions, the use of certain terms in connection with business activities, the requirements for incorporating a banking institution, the qualifications and oaths of directors, fidelity bonds and insurance, stockholder lists, stockholder inspection rights, stockholder liability, powers of banking institutions, trust powers, transfer of fiduciary accounts, delegation of functions, filing of annual reports, annual stockholder meetings, trust business requirements, reproduction of checks and records, errors in account statements, sale of services and equipment, leasing of personal property, legal holidays and Sundays, operation of branches, cessation of business, prohibition of unauthorized banking and trust business, withdrawals from deposits, employment information disclosure, refusal to open checking accounts, and nondiscrimination in lending.

This legal document governs the conversion of national banks to state-chartered banks in West Virginia. It allows any bank, thrift, or credit union organized under the laws of the United States or any other state to convert into a state bank with the approval of the board of Banking and Financial Institutions. The converting institution must file an application with the division, along with articles of incorporation, bylaws for the proposed state bank, and a fee.

This legal document governs bank services, bank service corporations, and investments in bank service corporations. It defines ‘bank services’ as various functions performed for a state bank or a national banking association, as well as the sale of related services and products. ‘Bank service corporation’ refers to a corporation that performs bank services for multiple banking institutions, with each institution owning part of the corporation’s capital stock. The document allows state banks to invest up to ten percent of their paid-in and unimpaired capital and unimpaired surplus in a bank service corporation.

This legal document, found in the West Virginia Code under the section ‘BANKS AND BANKING’, governs the nominee registration of fiduciary securities. It applies to banks, nonbanking subsidiaries of a bank holding company, nonbanking subsidiaries of a banking institution, or entities jointly owned by federally insured depository institutions authorized to exercise trust powers. The document allows these entities to hold securities in a fiduciary capacity and register them in the name of a nominee or nominees of the trust institution, or in its own name, without disclosing the fiduciary relationship.

These legal documents, part of the West Virginia Code governing banks and banking, regulate the handling of failing financial institutions in the state. The documents cover the appointment of conservators and receivers, the powers and responsibilities of conservators and receivers, the role of the FDIC as a receiver, the payment of expenses and debts, the claims procedure, and hearings and judicial review. The purpose of these regulations is to protect and preserve the assets of depositors, shareholders, and other creditors in failing financial institutions, maintain their financial integrity, stability, and accountability, and strengthen the authority of the state commissioner of banking.

This legal document, part of the West Virginia Code, governs the acquisitions of banks by bank holding companies. It defines the term ‘acquire’ and outlines various actions that constitute an acquisition, such as merging or consolidating with a bank holding company, assuming ownership or control of voting shares, or acquiring the assets of a bank holding company or a bank. The document also provides definitions for terms like ‘affiliate,’ ‘bank,’ ‘bank holding company,’ and ‘company.

The West Virginia Community Reinvestment Act requires banking institutions to demonstrate that their deposit facilities serve the convenience and needs of the communities in which they are chartered to do business. This includes the need for credit services as well as deposit services. The Act imposes an obligation on banking institutions to help meet the credit needs of the local communities in which they are chartered. The purpose of the Act is to encourage banking institutions to meet the credit needs of their local communities while ensuring the safe and sound operation of these institutions.

This legal document governs the provision of financially-related services by banks and bank holding companies. It applies to national banks, federally chartered thrift institutions, West Virginia state or federally chartered credit unions, and banks chartered by any other state. The term ‘financially related’ includes various products, services, and activities offered by these entities, such as equity investments in real estate development, securities underwriting and brokerage, and financial consulting. The Commissioner of Banking has the authority to deem other activities, products, and services offered by providers of financial products or services as financially related.

The West Virginia Mutual to Mutual Insurance Holding Company Act provides a legal framework for the reorganization and governance of mutual insurance companies in West Virginia. It defines various terms and applies to domestic and foreign mutual insurance companies, intermediate holding companies, and reorganized stock companies. The act allows for the creation of intermediate holding companies that own all the shares of voting stock of recognized stock companies. It also establishes the concept of mutual insurance holding companies, which are domestic mutual insurance holding companies incorporated through a reorganization plan.