(a) The general corporation laws of the state, including the provisions of chapter thirty-one-d of this code, shall govern banking institutions and the chartering thereof, except as otherwise provided in or where inconsistent with the provisions of this chapter, when the banking institutions are chartered as business corporations.
(b) The provisions of the Uniform Limited Liability Company Act, chapter thirty-one-b of this code shall govern banking institutions and the organizing thereof, except as otherwise provided in or where inconsistent with the provisions of this chapter when the banking institutions are chartered as limited liability companies. Any reference in this chapter to "directors" of a bank, in the case of limited liability company banks, refers to the bank's members if the bank is a member-managed company or to the bank's managers if it is a manager-managed company.
(c) No charter shall issue in this state for any banking institution unless the application therefor shall have been submitted to and approved by the West Virginia Board of Banking and Financial Institutions: Provided, That the board may not approve the application to charter any banking institution unless the proposed banking institution does business within this state and is subject to the supervision of the Commissioner of Banking.
Structure West Virginia Code
Chapter 31A. Banks and Banking
Article 4. Banking Institutions and Services Generally
§31A-4-2. Use of Terms; Unlawfully Engaging in Banking Business; Penalties; Enforcement
§31A-4-3. Minimum Capital Stock; Classes of Stock; Par Value; Capitalization of Surplus
§31A-4-5. Requirements and Procedure for Incorporation of State Banks
§31A-4-6. Examination and Investigation of Proposed Bank by Board
§31A-4-8. Directors, Their Qualifications and Oaths
§31A-4-9. Fidelity Bonds and Insurance
§31A-4-10. List of Stockholders
§31A-4-10a. Stockholder Inspection of Books and Records
§31A-4-11. Liability of Stockholders
§31A-4-12. Impairment of Capital Forbidden; Remedies; Assessments; Sale of Stock
§31A-4-13. Powers of State Banking Institutions Generally
§31A-4-14. Trust Powers of Banking Institutions
§31A-4-14b. Delegation and Fiduciary Responsibility
§31A-4-16. Trust Funds to Be Kept Separate; Bookkeeping and Management
§31A-4-18. Capital as Fiduciary Security; Additional Security
§31A-4-18a. Short-Term Investments When Acting as a Fiduciary
§31A-4-21. Federal Deposit Insurance; Membership in Federal Reserve System
§31A-4-22. Reserves Required of Banking Institutions; Reports; Penalties
§31A-4-23. Borrowing by Banking Institutions; Records Thereof; Penalties
§31A-4-24. Capital Notes and Debentures; Retirement; Not Subject to Assessment
§31A-4-25. Dividends; Limitations; Penal Provisions
§31A-4-27. Loans Eligible for Federal Insurance or Guaranty
§31A-4-29. Application of Other Laws to Loans and Investments Under §§31a-4-27 and 31a-4-28
§31A-4-30. Charges and Interest Allowed in Certain Cases; Negotiability of Installment Notes
§31A-4-30a. Alternative Maximum Interest Rate on Loans by Banks Chartered Under State Law
§31A-4-32. Adverse Claims to Deposits and Property Held in Safe Deposit
§31A-4-34. Payment of Deposits to Minors
§31A-4-36. Statement of Account to Customers; Duties of Customers; Limitations
§31A-4-37. Sale of Machine Operations and Services
§31A-4-38. Direct Leasing of Personal Property
§31A-4-39. Transactions on Legal Holidays and Sundays
§31A-4-43. Negotiable Order of Withdrawal Accounts Allowed