WV HB2464

Establishes the State Bank of West Virginia as an agency within the State Treasurer's Office to serve as custodian and administrator of bullion and specie (precious metals including gold, silver, platinum, palladium, and rhodium)

Allows individuals, fiduciaries, political subdivisions, corporations, and financial institutions to open State Bank accounts by depositing precious metals, with balances recorded in troy ounces and redeemable on demand within ten business days

Prohibits the State Bank from paying interest on accounts, engaging in derivatives or leveraged transactions, extending credit, or performing traditional banking functions regulated under state law

Protects deposits from legislative appropriation and declares void any confiscation, requisition, or seizure attempts by non-state governmental authorities, with disputes referred to the Attorney General

Authorizes the Treasurer to appoint an administrator, establish fees and exchange rates, hire security officers, acquire real property, and use private financial institutions as retail agents for State Bank services