(a) This article shall be known and may be cited as the "West Virginia International Banking Act".
(b) This article is intended generally to provide for state regulation of the participation by foreign banks in certain financial markets of this state.
(c) This article is intended:
(1) To authorize banking activities and operations in West Virginia by foreign banks having separately capitalized and domestically chartered banks in the United States through branches of such domestic banks in this state;
(2) To authorize agency and representative offices in this state of foreign banks; and
(3) To ensure that the banking laws and rules of this state otherwise apply to foreign banks, and to West Virginia and out-of-state banks and bank holding companies that are owned or controlled by foreign banks, in a manner consistent with the laws and policies of the United States governing the operations in this country of foreign banks.
Structure West Virginia Code
Chapter 31A. Banks and Banking
Article 8F. The West Virginia International Banking Act
§31A-8F-1. Legislative Purpose
§31A-8F-3. General Regulation Authority; Language; u.s. General Accounting Principles
§31A-8F-5. Branches by Domestic Subsidiary Banks Owned by a Foreign Bank
§31A-8F-6. Authority of Affiliated Bank or Branch to Act as Agent for a Foreign Bank
§31A-8F-7. Direct Agency Offices of Foreign Banks; Necessity of Licensure
§31A-8F-8. Application to Establish and Maintain an Agency Office; Contents
§31A-8F-10. No Concurrent Maintenance of Federal Branches or Agencies
§31A-8F-11. Powers of a Foreign Bank Agency Office
§31A-8F-12. Representative Office of Foreign Banks; Necessity of Licensure
§31A-8F-13. Representative Office; Application
§31A-8F-14. Representative Office; Factors for Approval of Application
§31A-8F-15. Representative Office; Permissible Activities
§31A-8F-16. Posting of License
§31A-8F-17. Licenses Not Transferable
§31A-8F-19. Change of Control of Foreign Bank
§31A-8F-20. Relocation of Office; Written Notice Necessary
§31A-8F-21. Examination; Payment of Fees
§31A-8F-22. Supervision and Enforcement
§31A-8F-24. Confidentiality of Examination Reports
§31A-8F-25. Books, Accounts and Records
§31A-8F-27. Disclosure of Lack of Federal Deposit Insurance
§31A-8F-28. Capital Equivalency Deposit
§31A-8F-29. Voluntary Closure of Agency or Representative Office; Application