reglab/housing_qa huggingface dataset:
WV Code § 31A-8G-2 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8G. The West Virginia Fintech Regulatory Sandbox Program|§31A-8G-2. Definitions

As used in this article:"Applicable agency" means a department or agency of the state that by law regulates certain types of business activity in the state and persons engaged in such business activity, including the issuance of licenses or other types of authorization, which the department determines would otherwise regulate a regulatory sandbox participant."Applicant" means an individual or entity that is applying to participate in the regulatory sandbox program."Consumer" means a person that purchases or otherwise enters into a transaction or agreement to receive an innovative product or service that is being tested by a regulatory sandbox participant."Distributed ledger" means the use of a digital database containing records of financial transactions, including blockchain technology, which can be simultaneously used and shared within a decentralized, publicly accessible network and can record transactions between two parties in a verifiable and permanent way."Division of Financial Institutions" and "division" mean the West Virginia Division of Financial Institutions."Financial product or service" means:(A) A financial product or financial service that requires state licensure or registration; or(B) A financial product or financial service that includes a business model, delivery mechanism, or element that may require a license or other authorization to act as a financial institution, enterprise, or other entity that is regulated by the West Virginia Division of Financial Institutions under chapters 31, 31A, and 31C of this code, 32A-2-1 et seq. of this code, or other related provisions."Innovation" means the use or incorporation of a new or emerging technology or a new use of existing technology, including distributed ledger, to address a problem, provide a benefit, or otherwise offer a product, service, business model, or delivery mechanism that is not known by the Division of Financial Institutions to have a comparable widespread offering in the state."Innovative product or service" means a financial product or service that includes an innovation."Regulatory sandbox participant" means a person whose application to participate in the regulatory sandbox program is approved in accordance with the provisions of this article."Regulatory sandbox program" means the West Virginia FinTech Regulatory Sandbox Program created by this article, which allows a person to temporarily test an innovative product or service on a limited basis without otherwise being licensed or authorized to act under the laws of the state."Regulatory sandbox testing period" means a 24-month period beginning on the date an applicant is admitted to the regulatory sandbox program."Test" means to provide an innovative product or service in accordance with the provisions of this chapter.
WV Code § 31A-8G-5 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8G. The West Virginia Fintech Regulatory Sandbox Program|§31A-8G-5. Additional Consumer Protections; Disclosures

(a) Before providing an innovative product or service to a consumer, a regulatory sandbox participant shall disclose the following to the consumer:(1) The name and contact information of the regulatory sandbox participant;(2) That the innovative product or service is authorized pursuant to the regulatory sandbox program and, if applicable, that the regulatory sandbox participant does not have a license or other authorization to provide a product or service under state laws that regulate products or services outside the regulatory sandbox program;(3) That the innovative product or service is undergoing testing, may not function as intended, and may expose the consumer to financial risk;(4) That the provider of the innovative product or service is not immune from civil liability for any losses or damages caused by the innovative product or service;(5) That the state does not endorse or recommend the innovative product or service;(6) That the innovative product or service is a temporary test that may be discontinued at the conclusion of the regulatory sandbox testing period;(7) The expected end date of the regulatory sandbox testing period; and(8) That a consumer may contact the Division of Financial Institutions to file a complaint regarding the innovative product or service being tested and provide the Division of Financial Institutions telephone number and website address where a complaint may be filed.(b) The disclosures required by subsection (a) of this section shall be provided to a consumer in a clear and conspicuous form and, for an internet or application-based innovative product or service, a consumer shall acknowledge receipt of the disclosure before a transaction may be completed.(c) The Division of Financial Institutions may investigate all consumer complaints made against a regulatory sandbox participant pursuant to subsection (a) of this section: Provided, That the consumer making the complaint was directly provided the innovative product or service by the regulatory sandbox participant, and the innovative product or service was provided in the course of participation in the regulatory sandbox program.(d) The Division of Financial Institutions may require that a regulatory sandbox participant make additional disclosures to a consumer.
WV Code § 31A-8G-6 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8G. The West Virginia Fintech Regulatory Sandbox Program|§31A-8G-6. Exiting Requirements; Extensions

(a) At least 30 days before the conclusion of the regulatory sandbox testing period, a regulatory sandbox participant shall:(1) Notify the Division of Financial Institutions that the regulatory sandbox participant will exit the regulatory sandbox program, discontinue the regulatory sandbox participants test, and stop offering any innovative product or service in the regulatory sandbox program within 60 days after the day on which the regulatory sandbox testing period ends; or(2) Seek an extension in accordance with 31A-8G-7 of this code.(b) Subject to subsection (c) of this section, if the Division of Financial Institutions does not receive notification as required by subsection (a) of this section, the regulatory sandbox participant shall immediately stop offering each innovative product or service being tested at the conclusion of the regulatory sandbox testing period.(c) If a test includes offering an innovative product or service that requires ongoing duties, such as servicing a loan, the regulatory sandbox participant shall continue to fulfill those duties or arrange for another person to fulfill those duties after the date on which the regulatory sandbox participant exits the regulatory sandbox program, and not less than 30 days before the conclusion of the regulatory sandbox testing period, notify, in writing, any consumer of the innovative product or service of the plan related to continuation or discontinuation of duties with respect to the innovative product or service.
WV Code § 31A-8G-7 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8G. The West Virginia Fintech Regulatory Sandbox Program|§31A-8G-7. Testing Period Extensions

(a) Thirty days prior to the conclusion of the regulatory sandbox testing period, a regulatory sandbox participant may request an extension of the regulatory sandbox testing period for the purpose of obtaining a license or other authorization required by law.(b) The Division of Financial Institutions shall grant or deny a request for an extension in accordance with subsection (a) of this section by the conclusion of the regulatory sandbox testing period.(c) The Division of Financial Institutions may grant an extension in accordance with this section for not more than 12 months after the conclusion of the regulatory sandbox testing period.(d) A regulatory sandbox participant that obtains an extension in accordance with this section shall provide the Division of Financial Institutions with a written report every three months that provides an update on efforts to obtain a license or other authorization required by law, including any submitted applications for licensure or other authorization, rejected applications, or issued licenses or other authorization.
WV Code § 31A-8G-8 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8G. The West Virginia Fintech Regulatory Sandbox Program|§31A-8G-8. Recordkeeping and Reporting Requirements; Participant Removal

(a) A regulatory sandbox participant shall retain records, documents, and data produced in the ordinary course of business regarding an innovative product or service tested in the regulatory sandbox program, and shall maintain comprehensive records for not less than five years after the conclusion of the regulatory sandbox testing period.(b) If an innovative product or service fails before the conclusion of a regulatory sandbox testing period, the regulatory sandbox participant shall notify the Division of Financial Institutions and report on actions taken by the regulatory sandbox participant to ensure consumers have not been harmed as a result of the failure.(c) The Division of Financial Institutions will collaborate with a regulatory sandbox participant to establish periodic and reasonable reporting requirements for the regulatory sandbox participant.(d) The Division of Financial Institutions may request records, documents, and data from a regulatory sandbox participant, and, upon the divisions request, a regulatory sandbox participant shall make such records, documents, and data available for inspection by the division.(e) If the Division of Financial Institutions determines that a regulatory sandbox participant has engaged in, is engaging in, or is about to engage in any practice or transaction that is in violation of this chapter or that constitutes a violation of a state or federal criminal law, the Division of Financial Institutions may remove a regulatory sandbox participant from the regulatory sandbox program and may refer suspected violations of law relating to this act to appropriate state or federal agencies for investigation, prosecution, civil penalties, and other appropriate enforcement actions.(f) On or before December 1 of each year, the Division of Financial Institutions shall provide an annual written report to the Joint Committee on Government and Finance that provides information regarding each regulatory sandbox participant and that provides recommendations regarding the effectiveness of the regulatory sandbox program. This report shall be made publicly available on the divisions website.
WV Code § 31B-1-102 (2021)
2021 West Virginia Code|Chapter 31B. Uniform Limited Liability Company Act|Article 1. General Provisions|§31B-1-102. Knowledge and Notice

(a) A person knows a fact if the person has actual knowledge of it.(b) A person has notice of a fact if the person:(1) Knows the fact;(2) Has received a notification of the fact; or(3) Has reason to know the fact exists from all of the facts known to the person at the time in question.(c) A person notifies or gives a notification of a fact to another by taking steps reasonably required to inform the other person in ordinary course, whether or not the other person knows the fact.(d) A person receives a notification when the notification:(1) Comes to the person's attention; or(2) Is duly delivered at the person's place of business or at any other place held out by the person as a place for receiving communications.(e) An entity knows, has notice or receives a notification of a fact for purposes of a particular transaction when the individual conducting the transaction for the entity knows, has notice, or receives a notification of the fact, or in any event when the fact would have been brought to the individual's attention had the entity exercised reasonable diligence. An entity exercises reasonable diligence if it maintains reasonable routines for communicating significant information to the individual conducting the transaction for the entity and there is reasonable compliance with the routines. Reasonable diligence does not require an individual acting for the entity to communicate information unless the communication is part of the individual's regular duties or the individual has reason to know of the transaction and that the transaction would be materially affected by the information.
WV Code § 31B-1-103 (2021)
2021 West Virginia Code|Chapter 31B. Uniform Limited Liability Company Act|Article 1. General Provisions|§31B-1-103. Effect of Operating Agreement; Nonwaivable Provisions

(a) Except as otherwise provided in subsection (b) of this section, all members of a limited liability company may enter into an operating agreement, which need not be in writing, to regulate the affairs of the company and the conduct of its business, and to govern relations among the members, managers and company. To the extent the operating agreement does not otherwise provide, this chapter governs relations among the members, managers and company.(b) The operating agreement may not:(1) Unreasonably restrict a right to information or access to records under section 4-408;(2) Eliminate the duty of loyalty under section 4-409(b) or 6-603(b)(3), but the agreement may:(i) Identify specific types or categories of activities that do not violate the duty of loyalty, if not manifestly unreasonable; and(ii) Specify the number or percentage of members or disinterested managers that may authorize or ratify, after full disclosure of all material facts, a specific act or transaction that otherwise would violate the duty of loyalty;(3) Unreasonably reduce the duty of care under section 4-409(c) or 6-603(b)(3);(4) Eliminate the obligation of good faith and fair dealing under section 4-409(d), but the operating agreement may determine the standards by which the performance of the obligation is to be measured, if the standards are not manifestly unreasonable;(5) Vary the right to expel a member in an event specified in section 6-601(6);(6) Vary the requirement to wind up the limited liability company's business in a case specified in section 8-801(b)(4) or (b)(5); or(7) Restrict rights of a person, other than a manager, member and transferee of a member's distributional interest, under this chapter.
WV Code § 31B-1-104 (2021)
2021 West Virginia Code|Chapter 31B. Uniform Limited Liability Company Act|Article 1. General Provisions|§31B-1-104. Supplemental Principles of Law

(a) Unless displaced by particular provisions of this chapter, the principles of law and equity supplement this chapter.(b) If an obligation to pay interest arises under this chapter and the rate is not specified, the rate is that specified in section thirty-one, article six, chapter fifty-six of this code.
WV Code § 31B-1-105 (2021)
2021 West Virginia Code|Chapter 31B. Uniform Limited Liability Company Act|Article 1. General Provisions|§31B-1-105. Name

(a) The name of a limited liability company must contain "limited liability company" or "limited company" or the abbreviation "L.L.C.", "LLC", "L.C." or "LC". "Limited" may be abbreviated as "Ltd." and "company" may be abbreviated as "Co.".(b) Except as authorized by subsections (c) and (d) of this section, the name of a limited liability company must be distinguishable upon the records of the Secretary of State from:(1) The name of any corporation, limited partnership, limited liability partnership or limited liability company incorporated, organized or authorized to transact business in this state;(2) A name reserved or registered under sections 1-106 or 1-107 of this article or under sections twelve or thirteen of article one, chapter thirty-one of this code.(3) A fictitious name approved under section 10-1005 for a foreign company authorized to transact business in this state because its real name is unavailable.(c) A limited liability company may apply to the Secretary of State for authorization to use a name that is not distinguishable upon the records of the Secretary of State from one or more of the names described in subsection (b) of this section. The Secretary of State shall authorize use of the name applied for if:(1) The present user, registrant or owner of a reserved name consents to the use in a record and submits an undertaking in form satisfactory to the Secretary of State to change the name to a name that is distinguishable upon the records of the Secretary of State from the name applied for; or(2) The applicant delivers to the Secretary of State a certified copy of the final judgment of a court of competent jurisdiction establishing the applicant's right to use the name applied for in this state.(d) A limited liability company may use the name, including a fictitious name, of another domestic or foreign company which is used in this state if the other company is organized or authorized to transact business in this state and the company proposing to use the name has:(1) Merged with the other company;(2) Been formed by reorganization with the other company; or(3) Acquired substantially all of the assets, including the name, of the other company.
WV Code § 31B-1-107 (2021)
2021 West Virginia Code|Chapter 31B. Uniform Limited Liability Company Act|Article 1. General Provisions|§31B-1-107. Registered Name

(a) A foreign limited liability company may register its name subject to the requirements of section 10-1005, if the name is distinguishable upon the records of the Secretary of State from names that are not available under section 1-105(b).(b) A foreign limited liability company registers its name, or its name with any addition required by section 10-1005, by delivering to the Secretary of State for filing an application:(1) Setting forth its name, or its name with any addition required by section 10-1005, the state or country and date of its organization and a brief description of the nature of the business in which it is engaged; and(2) Accompanied by a certificate of existence, or a record of similar import, from the state or country of organization.(c) A foreign limited liability company whose registration is effective may renew it for successive years by delivering for filing in the office of the Secretary of State a renewal application complying with subsection (b) of this section between October 1, and December 31, of the preceding year. The renewal application renews the registration for the following calendar year.(d) A foreign limited liability company whose registration is effective may qualify as a foreign company under its name or consent in writing to the use of its name by a limited liability company later organized under this chapter or by another foreign company later authorized to transact business in this state. The registered name terminates when the limited liability company is organized or the foreign company qualifies or consents to the qualification of another foreign company under the registered name.
WV Code § 31B-1-108 (2021)
2021 West Virginia Code|Chapter 31B. Uniform Limited Liability Company Act|Article 1. General Provisions|§31B-1-108. Designated Office and Agent for Service of Process

(a) A limited liability company and a foreign limited liability company authorized to do business in this state may continuously maintain in this state:(1) An office, which need not be a place of its business in this state; and(2) An agent and address of the agent for service of process on the company.(b) An agent shall be an individual resident of this state, a domestic corporation, another limited liability company or a foreign corporation or foreign company authorized to do business in this state.(c) Every limited liability company shall pay the annual report fee of $25 for the filing of the annual report for the limited liability company as described in section two-a, article one, chapter fifty-nine of this code, which fee shall be due and payable each year after the initial registration of the limited liability company on or before the dates specified in section two-a, article one, chapter fifty-nine of this code and other applicable provisions thereof, and shall be collected by the Secretary of State and deposited in the general administrative fees account established by section two, article one, chapter fifty-nine of this code. The Secretary of State shall dedicate sufficient resources from that fund or other funds to provide the services required in this chapter.(d) The Secretary of State shall keep a record of all processes, notices and demands served pursuant to this section and record the time of and the action taken regarding the service.(e) This section does not affect the right to serve process, notice or demand in any manner otherwise provided by law.(f) The amendments to this section enacted in 2008 are effective beginning on and after July 1, 2008.
WV Code § 31B-1-109 (2021)
2021 West Virginia Code|Chapter 31B. Uniform Limited Liability Company Act|Article 1. General Provisions|§31B-1-109. Change of Designated Office or Agent for Service of Process

 A limited liability company may change its designated office or agent for service of process by delivering to the secretary of state for filing a statement of change which sets forth: (1) The name of the company; (2) The address of its current designated office, if any; (3) If the current designated office is to be changed, the address of the new designated office; (4) The name and address of its current agent for service of process, if any; (5) If the current agent for service of process or address of that agent is to be changed, the new address or the name and address of the new agent for service of process.
WV Code § 31B-1-110 (2021)
2021 West Virginia Code|Chapter 31B. Uniform Limited Liability Company Act|Article 1. General Provisions|§31B-1-110. Resignation of Agent for Service of Process

(a) An agent for service of process of a limited liability company may resign by delivering to the Secretary of State for filing a record of the statement of resignation.(b) After filing a statement of resignation, the Secretary of State shall mail a copy to the designated office and another copy to the limited liability company at its principal office.(c) An agency is terminated on the thirty-first day after the statement is filed in the office of the Secretary of State.