(a) No foreign bank which is licensed under this article to establish and maintain a West Virginia state agency shall concurrently maintain a federal branch or federal agency office in this state.
(b) No foreign bank which maintains a federal branch or federal agency office in this state shall concurrently be licensed under this article to maintain a West Virginia state agency office.
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