West Virginia Code 31A-8E-3 – Interstate branching by West Virginia state banks through de novo establishment or acquisition of branches in other states
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(a) Beginning on May 31, 1997, and pursuant to the procedures and standards established in either section twelve or section twelve-d, article eight of this chapter, any West Virginia state bank may establish and maintain a de novo branch or acquire a branch in a state other than West Virginia, if the new branch is in conformity with, and would be permitted under the laws of the state where the branch is to be located.
Terms Used In West Virginia Code 31A-8E-3
- Bank: has the meaning set forth in 12 U. See West Virginia Code 31A-8E-2
- Branch: has the meaning set forth in subsection (f), section two, article one of this chapter. See West Virginia Code 31A-8E-2
- Commissioner: means the West Virginia commissioner of banking then in office and, where appropriate, all of his or her successors and predecessors in office. See West Virginia Code 31A-8E-2
- Laws of the state: includes the Constitution of the State of West Virginia and the Constitution of the United States, and treaties and laws made in pursuance thereof. See West Virginia Code 2-2-10
- State: means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, the Virgin Islands and American Samoa. See West Virginia Code 31A-8E-2
- West Virginia state bank: means a bank chartered under the laws of West Virginia. See West Virginia Code 31A-8E-2
(b) A West Virginia state bank desiring to establish and maintain a branch in another state under this section shall file a notice on a form prescribed by the commissioner and pay the branch notice fee set forth in subsection (a), section twelve-d, article eight of this chapter.