Not more than forty-nine percent of the total capital base of any capital company which is not a small business investment company may be owned by banks, savings and loan associations, savings banks or other financial institutions, or any affiliate thereof, as investors. No officer, employee or director of any such financial institution may vote as a member of the board of any capital company formed under the provisions of this article if the matter being voted upon affects the financial institution for which the board member serves as an officer, employee or director.
Structure West Virginia Code
Chapter 5E. Venture Capital Company
Article 1. West Virginia Capital Company Act
§5E-1-2. Declaration of Policy
§5E-1-6. Qualification of West Virginia Capital Companies
§5E-1-7. Minimum Standards of Qualified West Virginia Capital Companies
§5E-1-9. Recaptures; Unqualified Investments
§5E-1-10. Application Requirements
§5E-1-11. Disclaimer of Liability of the State
§5E-1-12. Qualified Investments; Liquidation or Dissolution
§5E-1-13. Restrictions on Investment
§5E-1-14. Conflict of Interest
§5E-1-15. Investment Reporting and Record Keeping
§5E-1-19. Effective Date; Transition Rules