House Bill 2517 gives the Board of Banking and Financial Institutions the authority of to allow West Virginia banks to acquire out-of-state banks. A West Virginia bank must file with the commissioner, a copy of the application made to the appropriate federal regulator before it can acquire an out-of-state bank or an out-of-state bank holding company. The exception is if the acquisition involves a merger of a bank with and into a West Virginia bank.
Completed Legislative Action (Week of Jan. 30 – Feb. 6, 2008)
