West Virginia Code 31A-8E-5 – Requirement of notice
An out-of-state bank desiring to establish and maintain a de novo branch or to acquire a branch in this state pursuant to this article shall provide written notice of the proposed transaction to the commissioner not later than the date on which the bank applies to the responsible federal or state bank supervisory agency for approval to establish the branch. The out-of-state bank may comply with this requirement by filing an additional copy of its branch application with its home state regulator and requesting that the home state regulator provide the copy to the commissioner. The commissioner may notify the home state regulator that the out-of-state bank must pay to the West Virginia Division of Banking a fee of up to $250.
Terms Used In West Virginia Code 31A-8E-5
- Bank: has the meaning set forth in 12 U. See West Virginia Code 31A-8E-2
- Bank supervisory agency: means :
(1) Any agency of another state with primary responsibility for chartering and supervising banks. 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
- division: means the Division of Banking of West Virginia. See West Virginia Code 31A-1-2
- Home state: means :
(1) With respect to a state bank, the state by which the bank is chartered. See West Virginia Code 31A-8E-2
- Home state regulator: means , with respect to an out-of-state state bank, the bank supervisory agency of the state in which the bank is chartered. See West Virginia Code 31A-8E-2
- Out-of-state bank: means a bank whose home state is a state other than West Virginia. See West Virginia Code 31A-8E-2
- 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