Bill > HB4789

This bill clarifies the requirements for out-of-state banks merging with or acquiring West Virginia state-chartered banks, specifically focusing on the written confirmation an out-of-state bank must provide to the state commissioner. The bill amends existing law to ensure that when an out-of-state bank acquires a West Virginia bank or its branches, the acquiring bank must confirm in writing that it will continue to comply with all West Virginia laws, including consumer protection laws, as long as it operates a branch in the state. It also reiterates that deposits in West Virginia must be insured and that if the resulting bank is state-chartered, it must meet state capital requirements. The bill also makes a minor technical correction by changing the word "chapter" to "code" in two instances, referring to the West Virginia Code, which is the official compilation of the state's laws.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=4789&year=2026&sessiontype=RS&btype=bill