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WV SB727
Bill
Status
Introduced
2/3/2026
Primary Sponsor
Trenton Barnhart
Click for details
AI Summary
- Amends West Virginia Code §31A-8D-4 to clarify disclosure requirements when out-of-state banks acquire West Virginia state-chartered banks through interstate merger transactions
- Restructures the written confirmation requirement so out-of-state banks must attest that while maintaining a branch in West Virginia, they will comply with all applicable state laws, including consumer protection laws
- Requires deposits of the resulting bank to be insured in conformity with state provisions and state-chartered resulting banks to meet capital requirements
- Makes technical corrections changing references from "chapter" to "code" throughout the section
- Maintains existing deposit concentration limits that prevent mergers if the resulting bank would control excess deposits, with a waiver process available through the commissioner for good cause
Legislative Description
Relating to bank merger by interstate branching
Last Action
To Banking and Insurance
2/3/2026
Committee Referrals
Banking and Insurance2/3/2026
Full Bill Text
No bill text available