WV SB574

Amends West Virginia Code §31A-8D-4 governing interstate bank mergers and branching involving out-of-state banks acquiring West Virginia state-chartered banks

Clarifies disclosure requirements by restructuring language so out-of-state banks must confirm in writing to the commissioner that they will comply with all applicable West Virginia laws, including consumer protection laws, as long as they maintain a branch in the state

Maintains existing requirements that deposits of resulting banks must be insured per state law and state-chartered resulting banks must meet capital requirements

Updates terminology throughout the section, changing references from "chapter" to "code" for consistency

Preserves the deposit concentration limit that prevents merger transactions if the resulting bank would control deposits exceeding limits set in §31A-2-12a, with commissioner authority to waive for good cause