WV HB4687

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, businesses, nonprofits, political subdivisions, and financial institutions to open State Bank accounts for depositing precious metals, with the bank required to deliver holdings within 10 business days of demand

Prohibits the State Bank from paying interest on accounts, engaging in derivatives trading or hedging precious metals holdings, or extending credit except incidentally to operations

Declares void any attempted confiscation, requisition, or seizure of State Bank accounts by governmental authorities other than West Virginia state authorities

Creates a State Bank Administrator appointed by the Treasurer with governor and senate consent, and authorizes the Treasurer to acquire real property, establish fees, and hire security officers who may be commissioned as peace officers