West Virginia Code 31A-8A-4 – Required application
(a) A company that proposes to make an acquisition under this article shall:
Terms Used In West Virginia Code 31A-8A-4
- Board: means the West Virginia Board of Banking and Financial Institutions. See West Virginia Code 31A-1-2
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
(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.