West Virginia Code
Article 8F. The West Virginia International Banking Act
§31A-8F-3. General Regulation Authority; Language; u.s. General Accounting Principles

(a) The commissioner is authorized and empowered to issue such rules and orders to perform his or her duties and functions under this article and to administer and carry out the provisions and purposes of this article and to prevent evasions thereof.
(b) It shall be required that all banks, including foreign banks, operating offices in this state use or make available on request the English language version of any customer contract or agreement when the customer is a United States corporation, citizen or resident. Upon demand of the commissioner of banking any bank or financial affiliate in West Virginia under the jurisdiction of the commissioner of banking shall provide at their own expense the translation of any document or record it holds into the English language. Unless otherwise provided for West Virginia licensed domestic banking institutions, all foreign banking offices licensed under the provisions of this article shall abide by U.S. general accounting principles in the maintenance of their financial records.

Structure West Virginia Code

West Virginia Code

Chapter 31A. Banks and Banking

Article 8F. The West Virginia International Banking Act

§31A-8F-1. Legislative Purpose

§31A-8F-2. Definitions

§31A-8F-3. General Regulation Authority; Language; u.s. General Accounting Principles

§31A-8F-4. Operations in This State of Banks Owned or Controlled by Foreign Banks and Other Foreign Persons

§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-9. Application to Establish and Maintain an Agency Office; Manner of Filing and Determination

§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-18. Amended License to Establish and Maintain a Direct Agency Office or Representative Office

§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-23. Reports

§31A-8F-24. Confidentiality of Examination Reports

§31A-8F-25. Books, Accounts and Records

§31A-8F-26. Separate Assets

§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