reglab/statecodes huggingface dataset:
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 1. General Provisions and Definitions › §31A-1-4. Separability; Repealer

If any provision, clause or phrase of this chapter or the application thereof to any person or situation be held invalid, such invalidity shall not affect other provisions, clauses, phrases or applications of the chapter which can be given effect without the invalid provision, clause, phrase or application, and to this end the provisions hereof are declared to be separable.
All laws or parts of laws plainly inconsistent with the provisions hereof are hereby repealed. No provision of this chapter shall be deemed to be repealed by subsequent legislation not specifically repealing it if such construction can be avoided.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 1. General Provisions and Definitions › §31A-1-5. Lending and Investing Powers and Authority of Fiduciaries, Financial Institutions, Governmental Entities and Other Persons

The state of West Virginia, counties, municipalities, political subdivisions and agencies and instrumentalities of any of them, fiduciaries, building and loan associations, regulated consumer lenders, insurance companies, fraternal benefit societies and other persons lawfully engaging in the lending and investing business and services shall have and are hereby authorized and empowered to exercise the same lawful rights and privileges as are banking institutions under provisions of sections twenty-seven, twenty-eight and twenty-nine, article four of this chapter.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 1. General Provisions and Definitions › §31A-1-6. Deposit Insurance Required for Banking and Other Depository Institutions

All credit unions established pursuant to article ten, chapter thirty-one of this code and all banking institutions governed by the provisions of this chapter except banks that do not accept deposits and offer only trust or other nondepository services must qualify for and obtain federal deposit insurance.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2. Division of Banking › §31A-2-1. Department of Banking of West Virginia, Offices of Commissioner and Deputy Commissioner of Banking Continued

The Department of Banking of West Virginia, the Office of Commissioner of Banking of West Virginia and the Office of Deputy Commissioner of Banking of West Virginia, heretofore created and existing in the state government, are continued and, after the date of the passage of the amendments to this section adopted in the regular Legislative Session of 2012, shall hereafter be referred to, respectively, as the Division of Financial Institutions, the Commissioner of Financial Institutions and the Deputy Commissioner of Financial Institutions.
All references in this code to the Department of Banking or the Division of Banking shall, after the effective date of the amendments to this section adopted in the regular Legislative Session of 2012, be read, construed and understood to mean and to have reference to the Division of Financial Institutions. All references in this code to the Commissioner of Banking and the Deputy Commissioner of Banking shall, after the effective date of the amendments to this section adopted in the regular Legislative Session of 2012, be read, construed and understood to mean and have reference, respectively, to the Commissioner of Financial Institutions and the Deputy Commissioner of Financial Institutions.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2. Division of Banking › §31A-2-2. Commissioner's Appointment, Term, Qualifications, Salary, Oath and Bond

The commissioner of banking shall be appointed by the Governor, by and with the advice and consent of the Senate. He shall serve at the will and pleasure of the Governor for the term for which the Governor was elected and until his successor is appointed and qualified, unless earlier removed from office for cause as provided by law.
Any person appointed as commissioner shall have a college degree from an accredited institution, be of good moral character, have knowledge of the theory and practice of banking and be at least twenty-five years of age.
Before entering upon the discharge of his duties as commissioner, he shall take and subscribe to the oath of office prescribed in section five, article four of the Constitution of West Virginia and shall enter into a bond in the penal sum of $100,000, with a corporate surety authorized to engage in business in this state, conditioned upon the faithful discharge and performance of the duties of his office. The premium of such bond shall be payable from the State Treasury out of funds allocated to the department of banking. The executed oath and bond shall be filed in the office of the Secretary of State.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2. Division of Banking › §31A-2-3. Deputy Commissioner's Appointment, Tenure, Salary, Qualifications, Oath and Bond; Exercise of Commissioner's Powers by Deputy

The deputy commissioner of banking shall be appointed by and be under the supervision and direction of the commissioner of banking. The deputy commissioner's tenure in office shall be at the will and pleasure of the commissioner. The deputy commissioner's salary shall be fixed annually by the commissioner and shall be payable in installments as provided by law.
Any person appointed as deputy commissioner shall have had at least three years' experience as an active executive officer of a bank in this state or a minimum of three years' experience in a bank examining or supervisory capacity for this state, for other states, or for the federal government, or a combination thereof, or a minimum of four years' combined experience as such active bank executive officer and in such examining or supervisory capacity.
Before entering upon the discharge of the duties of his office, the deputy commissioner shall comply with the same oath and bond requirements prescribed for the commissioner in section two of this article.
In the event of a vacancy in the office of commissioner or in the event of the disability or absence from the state of the commissioner, the deputy commissioner shall have and may exercise all of the authority and powers of the commissioner and shall be responsible for the performance of all duties, functions and services of the commissioner.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2. Division of Banking › §31A-2-4a. Orders of the Commissioner of Banking to Be Made Public

Any order entered by the commissioner of banking against any person:
(1) To cease violating any provision or provisions of this chapter or other applicable law or rule and regulation promulgated or order issued thereunder;
(2) To cease engaging in any unsound practice or procedure which may detrimentally affect any financial institution;
(3) To revoke the certificate of authority, permit or license of any financial institution; and
(4) To take such other action as the commissioner of banking may deem necessary to enforce and administer the provisions of this chapter and all other laws which the commissioner is empowered to enforce is a matter of public record.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2. Division of Banking › §31A-2-4b. Provision of Legal Services

(a) The commissioner of banking has plenary power and authority to acquire those legal services the commissioner deems necessary to carry out the functions and duties of the Division of Banking or the office of commissioner of banking, including, but not limited to, representation of the division or the commissioner in any administrative or judicial proceeding.
(b) The commissioner may acquire legal services from attorneys licensed to practice law who are employed by the commissioner on a salary basis or retained by the commissioner on a reasonable fee basis.
(c) The commissioner may also request the assistance of the Attorney General and be represented in an administrative or judicial proceeding by a deputy or assistant Attorney General acceptable to the commissioner.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2. Division of Banking › §31A-2-4c. County Clerk to File Reports of Trustees Regarding Sales of Residential Real Property Pursuant to Deeds of Trust and Forward to the Banking Commissioner; Transfer of Powers and Duties Relating to Reports of Trustees to the West Virginia Housing Development Fund

(a) In addition to the jurisdiction, powers, and duties set out in section four of this article, the banking commissioner is vested with the jurisdiction, powers and duties to receive and compile the data into an electronic database and make available the raw data that is required to be reported by trustees to county clerks pursuant to section eight-a, article one, chapter thirty-eight of the Code of West Virginia. The commissioner has the power to promulgate rules in accordance with this section and the provisions of article three, chapter twenty-nine-a of this code in order to carry out the requirements of this section. The commissioner is authorized to expend funds for this purpose.
(b) On and after July 1, 2010, the jurisdiction, powers and duties vested in the banking commissioner in subsection (a) of this section are hereby transferred and imposed upon the West Virginia Housing Development Fund established in article eighteen, chapter thirty-one of this code and all data that has been received and compiled by the banking commissioner pursuant to subsection (a) of this section shall be transferred to the West Virginia Housing Development Fund.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2. Division of Banking › §31A-2-7. Duties of Officers, Employees, etc., of Financial Institution in Connection With Examination; Examination Under Oath; Offenses and Penalties

All officers, directors, employees and other persons connected with any financial institution, upon request of the commissioner of banking, or his or her duly authorized representative, shall furnish and give full access to all of the books, papers, notes, bills and other evidences of debts due to the institution; produce and furnish all documents, records, writings and papers relating to the business of the institution which the commissioner is authorized to examine; disclose fully, accurately and in detail all of the debts and liabilities of the institution; and furnish the clerical aid and assistance as may be required in the performance of the commissioner's duties as provided by law. The commissioner or his or her representative, as the case may be, shall have the right and authority to administer oaths and to examine under oath each officer, director, employee or other person connected with the institution concerning any matter and thing pertaining to the business and condition of the institution.
Any officer, director, employee or other person connected with any such institution who willfully fails or refuses to so furnish the documents, papers, materials or information as herein required or who willfully fails to discharge any other duty or obligation as herein provided shall be guilty of a misdemeanor and, upon conviction thereof, shall be subject to the penalties provided in section fifteen, article eight of this chapter.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2. Division of Banking › §31A-2-9. Correction of Violations of Law, Irregularities and Unsound Practices; Disposition of Doubtful Assets and Past-Due Obligations; Stockholders' Meetings

Whenever it appears that any law, rule and regulation or order applicable to any financial institution is being violated, or that any irregularities exist or unsound practices or procedures are being engaged in, it shall be the duty of the commissioner of banking to promptly call the same to the attention of the officers and directors of the financial institution offending and to demand that the same be promptly corrected; and he or she may require a sworn statement from the said officers and directors covering the matter of all such violations and of all such irregularities, unsound practices or procedures to be furnished to him or her as often as he or she may deem necessary, until he or she is satisfied that such violations have ceased and that the irregularities, unsound practices or procedures complained of have been corrected. Such reports shall not be made public, except as necessary as part of any order or other enforcement action or proceeding.
If any such institution owns any asset, the value of which, in the judgment of the commissioner of banking, is questionable, or owns past-due obligations, the commissioner of banking may require the assets of doubtful value to be at once converted into money or charged off of the books of the financial institution at the expiration of three months from the date of such order; or require legal proceedings to be at once instituted for the collection of any past-due obligations to the financial institution or that they be charged off.
Upon the written notice of the commissioner of banking, the directors of any financial institution shall call a general meeting of the stockholders thereof to consider such matters as the commissioner may prescribe. Notice of such meeting shall be given in accordance with applicable statutes and the bylaws of the financial institution. The expense of such meeting and notice thereof shall be borne by the financial institution whose stockholders are so required to convene.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2. Division of Banking › §31A-2-12. Commissioner's Annual Report; Contents; Affidavit

Annually on or before December 1, the commissioner of banking shall prepare and submit to the Governor a careful and complete report, detailing the work, services and functions performed by him during the preceding fiscal year. The report shall show the total resources and liabilities of all financial institutions, the increase or decrease for the year in the aggregate of such resources and liabilities, carefully noting any failures that may have occurred, stating the causes thereof, and making such remarks, suggestions and recommendations as he may deem pertinent, including recommendations on policy, administration and legislation pertaining to all financial institutions.
Such report shall be verified by the affidavit of said commissioner, who shall swear that, in making the examination of each financial institution he or a qualified person in his department appointed by him has personally and carefully inspected the books, papers and affairs of the institution, or in the case of any banking institution, that he has accepted a reasonably current examination made by the federal deposit insurance corporation or the federal reserve system in lieu of conducting such an examination, and that he has not, and, so far as he knows or is informed, no person in his department has, in any case received or agreed to receive directly or indirectly any reward, gift, or promise thereof, from any officer or other person connected with any financial institution.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2. Division of Banking › §31A-2-12a. Establishment of Deposit Acquisition Limitation

After a review of the structure of depository institutions in the State of West Virginia, the Legislature hereby determines that:
(a) It is in the best interest of this state and its citizens to foster and encourage healthy competition among its domestic depository institutions;
(b) Obtaining excessive concentration or control of the deposit resources of this state by merger or acquisition is antithetical to fostering a competitive environment; and
(c) Therefore, an acquisition or merger shall not be permitted under this chapter or otherwise if upon consummation of the transaction, the resulting depository institution or its holding company, including any depository institution(s) affiliated therewith, would assume sufficient additional deposits to cause it to control deposits in this state in excess of the following acquisition deposit limitation amount: Twenty percent of the total amount of all deposits held by insured depository institutions, which permissible amount shall increase to twenty-five percent of such total deposits on May 31, 1997.
(d) The term "depository institutions", as used in this section, shall include, but is not limited to, state-chartered banking institutions, national banking associations, federal savings and loan associations, bank holding companies, savings and loan holding companies, federal savings banks, state-chartered credit unions and federally-chartered credit unions.
(e) Any merger or acquisition contrary to this provision is unlawful: Provided, That the commissioner may by rule adopt a procedure whereby said acquisition deposit limitation as set forth herein may be waived for good cause shown.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2. Division of Banking › §31A-2-13. Enforcement of Orders of the Commissioner Against Financial Institutions

(a) If any financial institution shall fail or refuse to comply with any order of the commissioner, entered pursuant to the provisions of paragraphs (A) or (B), subdivision (15), subsection (c), section four of this article, the commissioner may apply to any court having jurisdiction for a prohibitory or mandatory injunction or other appropriate remedy to compel obedience to such order; or may apply to the board of banking and financial institutions for appropriate relief.
(b) In addition, if any financial institution other than a state bank shall fail or refuse to comply with any order of the commissioner, entered pursuant to the provisions of paragraphs (A) or (B), subdivision (15), subsection (c), section four of this article, the commissioner may make and enter an order revoking the certificate of authority, permit or license of such institution to engage in the business of a financial institution in this state.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2. Division of Banking › §31A-2-14. Banking Interests of and Acceptance of Gratuities by Officers and Employees of Department

No officer or employee of the department of banking shall be an officer, director, trustee, attorney, owner, shareholder, or partner in or of any financial institution. Nor shall any officer or employee of the department receive, directly or indirectly, any payment or gratuity from any financial institution, or be engaged in any manner in the negotiation of loans for others therewith. Nothing herein shall prohibit said persons from having shares as a result of membership in a credit union, mutual savings association, or similar depository institution by virtue of being a customer; nor shall it prohibit the receipt of interest or other payments on accounts made in the regular course of business.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2A. Maxwell Governmental Access to Financial Records Act › §31A-2A-1. Definitions

As used in this article:
(a) "Customer" means any person or his or her duly authorized representative who has transacted business with or has used the services of a financial institution or for whom a financial institution has acted as a fiduciary in relation to an account maintained in such person's name;
(b) "Financial institution" means a bank, a savings and loan association, a trust company or a credit union chartered pursuant to any state or federal law, a regulated consumer lender licensed under article four, chapter forty-six-a of this code, a mortgage lender broker or servicer licensed under article seventeen, chapter thirty-one of this code, a money service business licensed under article two, chapter thirty-two-a of this code or other institutions which are by law under the jurisdiction and supervision of the Commissioner of Banking;
(c) "Financial record" means the original or a copy of any record or document held by a financial institution pertaining to a customer of the financial institution, including any record of a transaction conducted by means of a customer bank communication terminal or other electronic device. "Financial record" also means any information derived from such records or documents;
(d) "Investigation" includes, but is not limited to, any inquiry by a state or local law-enforcement officer, sheriff or prosecuting attorney or any inquiry made by a state or local governmental entity for the purpose of determining whether there has been a violation of any law which is punishable by imprisonment or by a fine or other monetary liability;
(e) "Person" means an individual, partnership, corporation, limited liability company, association, trust or any other legal entity;
(f) "State entity" means any state or local governmental office, officer, department, division, bureau, board or commission, including the Legislature, and any other state or local government agency of West Virginia, its political subdivisions and any agent thereof; and
(g) "Subpoena" includes a subpoena duces tecum or any other lawful subpoena to compel testimony or the disclosure or production of documents.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2A. Maxwell Governmental Access to Financial Records Act › §31A-2A-2. Requirements for Government Access to Records

(a) No state entity may have access to or obtain from a financial institution financial records of any customer except as set forth in section four of this article or under the following circumstances:
(1) The customer has executed a written authorization pursuant to section three of this article;
(2) The financial records are disclosed in response to a judicial order, warrant, summons or subpoena issued by a court of competent jurisdiction or a valid administrative order or subpoena of a state entity expressly ordering or requiring the disclosure of financial records: Provided, That any subpoena issued pursuant to the provisions of this subsection shall comply with the provisions of section five of this article;
(3) The financial records are disclosed in response to a judicial order authorizing the appointment of the state entity or its agent: (A) As guardian of the customer or conservator of his or her property; or (B) as administrator or executor of the customer's estate;
(4) The financial records are disclosed: (A) Pursuant to a state or federal rule of civil or criminal procedure or any comparable rule of another court of competent jurisdiction; (B) in response to a subpoena issued in connection with any pending civil or criminal proceeding in which a state entity is a party; or (C) in response to interrogatories in aid of execution propounded by a state entity where it is a judgment creditor of the customer;
(5) The financial records are disclosed to law-enforcement officers pursuant to a grand jury or trial subpoena resulting from a criminal investigation which complies with the provisions of section six of this article; or
(6) As may be required or permitted by any other state or federal law.
(b) No state entity obtaining financial records pursuant to the provisions of this article and no person who obtains financial records from a state entity which obtained such financial records pursuant to the provisions of this article shall disclose such financial records: (i) To any other state entity unless such other state entity has authority or authorization to receive the financial record in accordance with the provisions of this article; or (ii) to any person unless such person has authority or authorization to receive the financial record: Provided, That nothing herein shall limit or prevent the disclosure of financial records which are otherwise public documents or matters of public record or the disclosure of financial records made to facilitate a lawful proceeding, investigation, examination or inspection by a state entity. Financial records obtained under this article by a state entity shall not be subject to disclosure under the provisions of article one, chapter twenty-nine-b of this code.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2A. Maxwell Governmental Access to Financial Records Act › §31A-2A-3. Written Authorization of Customer; Contents; Certification of Compliance

(a) A customer may authorize disclosure under section two of this article by signing and dating a statement in which he or she:
(1) Authorizes the disclosure for such period as may be agreed upon;
(2) Indicates an understanding of his or her right to revoke such authorization at any time before the financial records are disclosed;
(3) Identifies the financial records which are authorized to be disclosed;
(4) Specifies the purposes for which, and the state entity to which, such records may be disclosed; and
(5) Acknowledges that he or she has been advised of his or her rights under this article by the state entity seeking the disclosure of the financial records.
(b) No authorization as provided in subsection (a) of this section shall be required as a condition of doing business with any financial institution.
(c) No financial institution shall release the financial records of a customer pursuant to his or her authorization under this section until the state entity seeking the records also provides certification in writing to the financial institution that it has complied with the applicable provisions of this article. The financial institution and the state entity seeking to obtain the disclosure of the financial records shall retain copies of this written authorization.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2A. Maxwell Governmental Access to Financial Records Act › §31A-2A-5. Subpoena and Notice Requirements

(a) A financial institution may disclose or produce financial records to a state entity in compliance with a subpoena served upon it if the subpoena contains a certification that: (1) A copy of the subpoena has been served on the customer whose records are sought by the state entity seeking disclosure or production of the records at least ten days prior to the date on which disclosure or production is sought; or (2) that service on the customer has been waived for good cause by the circuit court of Kanawha County or other circuit court of competent jurisdiction.
(b) Any person whose financial records are to be disclosed pursuant to a subpoena served under the provisions of subdivision (1), subsection (a) of this section may challenge the subpoena by filing a motion to quash in a court of competent jurisdiction at any time prior to the disclosure of the records. After the filing and service of the motion upon the financial institution and the state entity requesting the issuance of the subpoena, the production of financial records shall be stayed, without liability to the financial institution, until the court holds a hearing on the motion and an order is entered sustaining, modifying or quashing the subpoena.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2A. Maxwell Governmental Access to Financial Records Act › §31A-2A-6. Subpoena Issued by Grand Jury

(a) Notwithstanding the provisions of section five of this article, a financial institution may disclose or produce financial records upon being served with a subpoena issued under authority of a grand jury without notice or service upon the customer.
(b) Financial records obtained pursuant to a subpoena issued under the authority of a grand jury:
(1) Shall be returned and actually presented to the grand jury;
(2) Shall be used only: (A) For the purpose of considering whether to issue an indictment or presentment by that grand jury; (B) for the purpose of prosecuting a crime for which that indictment or presentment is issued; or (C) for any other purpose authorized by the West Virginia rules of criminal procedure; and
(3) Shall be destroyed or returned to the financial institution if not used for one of the purposes specified in subdivision (2) of this subsection.
(c) Financial records obtained pursuant to a subpoena issued under the authority of a grand jury and any descriptions of the contents of such financial records must be maintained in sealed records of the grand jury unless such financial records or descriptions thereof have been used in the prosecution of a crime for which the grand jury issued an indictment or presentment or for any other purpose authorized by the West Virginia rules of criminal procedure.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2A. Maxwell Governmental Access to Financial Records Act › §31A-2A-7. Penalties

(a) Any state, county or local government official or employee who knowingly and willfully discloses financial records with intent to violate this article, or who knowingly and willfully induces or attempts to induce an officer, employee, agent or director of a financial institution to disclose financial records to a state entity with intent to violate this article, is guilty of a misdemeanor and, upon conviction thereof, shall be fined not more than $1,000.
(b) Any customer whose financial records or the information contained therein has been negligently disclosed by a state entity or a financial institution in violation of this article may file an action in any circuit court of this state against the state entity or financial institution and, if the customer proves that the state entity or financial institution negligently disclosed the customer's financial records or the information contained therein, may recover from the state entity or financial institution an amount equal to the sum of:
(1) Up to $1,000 in civil damages, as penalty, without regard to the volume of records involved or lack of actual damages;
(2) Any actual damages sustained by the customer as a result of the disclosure; and
(3) The costs of the action, including reasonable attorney's fees, as may be allowed by the court.
(c) No financial institution or person shall be held liable, notwithstanding subsection (a) or (b) of this section, for the disclosure of financial records pursuant to a subpoena, summons, warrant, court order or administrative order which on its face appears to have been issued upon lawful authority. No financial institution or agent or employee thereof who discloses financial records pursuant to this article: (i) In good faith reliance upon a certificate by any state entity that this article has been complied with; or (ii) pursuant to the provisions of subdivision (13), subsection (a), section four of this article shall be liable under this article or any other law or rule of this state or any political subdivision hereof.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2A. Maxwell Governmental Access to Financial Records Act › §31A-2A-8. Statute of Limitations; Tolling of Statute

(a) An action to enforce any provision of this article may be brought in any circuit court of competent jurisdiction in this state within three years from the date on which the violation occurs or the date of discovery of such violation, whichever is later.
(b) If any customer files a motion or application under this article which has the effect of delaying the access of a state entity to financial records pertaining to such customer, any applicable statute of limitations shall be tolled for the period extending from the date such motion or application was filed until the date an order is entered pursuant thereto.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2A. Maxwell Governmental Access to Financial Records Act › §31A-2A-9. Injunctive Relief; Recovery of Attorney Fees

In addition to any other remedy contained in this article, injunctive relief shall be available to require compliance with any procedure established in this article. Any customer awarded injunctive relief pursuant to this section may recover costs and reasonable attorney's fees as determined by the court.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2B. The Second Amendment Financial Privacy Act › §31A-2B-4. Protected Financial Information

A financial institution is prohibited from disclosing a customers protected financial information to a government entity and a government entity is prohibited from accessing or obtaining said information unless:
(1) Disclosure is expressly permitted by 31A-2A-4 of this code and the protected financial information is not singled out, segregated, or disclosed based on the assignment of a firearms code;
(2) Disclosure is made pursuant to a valid warrant issued in a criminal investigation, stating the grounds or probable cause for its issuance, and otherwise meeting the requirements of 62-1A-3 of this code;
(3) The customer has provided written authorization for disclosure, according to the requirements of 31A-2B-5 of this code;
(4) Disclosure is made pursuant to a subpoena meeting the requirements of 31A-2A-5 and 31A-2B-6 of this code or to a grand jury subpoena meeting the requirements of 31A-2A-6 of this code; or
(5) The financial institution discloses only the following information:
(A) That the financial institution is not in possession of the protected financial information; and
(B) The identity of the entity that is in possession of the requested protected financial information.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2B. The Second Amendment Financial Privacy Act › §31A-2B-5. Written Authorization for Disclosure

(a) Notwithstanding 31A-2B-4 of this code, a financial institution may disclose a customers protected financial information to a government entity if the customer provides the financial institution with written authorization for said disclosure. The written authorization described by this section must contain the following:
(1) A statement that the customer consents to the disclosure of the protected financial information, along with the definition provided in 31A-2B-3(14) of this code, for a specific period;
(2) A statement that the customer has the right to refuse to consent to disclosure;
(3) A statement that the customer understands his or her right to revoke said consent at any time before the protected financial information is disclosed;
(4) A description of the financial records authorized to be disclosed;
(5) The purpose for which disclosure of the protected financial information is authorized;
(6) The recipient or recipients of the disclosure; and
(7) The customers signature.
(b) The written authorization described in this section may not be required as a condition of doing business or transacting with any financial institution.
(c) The written authorization required by this section must be executed distinctly and separately from other agreements or instruments entered into between the customer and financial institution.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2B. The Second Amendment Financial Privacy Act › §31A-2B-6. Additional Requirements for Subpoenas

A subpoena issued by a government entity that specifically requires disclosure of protected financial information must meet the following requirements, in addition to the requirements of 31A-2A-5 of this code:
(1) The subpoena must state that protected financial information is being sought, along with the definition provided in 31A-2B-3(14) of this code;
(2) A copy of the subpoena must be served upon the customer according to the procedure provided in 31A-2A-5 of this code and the subpoena must contain a certification that said service was executed; and
(3) A copy of the subpoena must be served by the government entity upon the Consumer Protection Division of the West Virginia Attorney Generals Office on the same day the subpoena is served upon the customer whose protected financial data is being sought and the subpoena must contain a certification that said service was executed.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2B. The Second Amendment Financial Privacy Act › §31A-2B-7. Use of Protected Financial Information for Discriminatory Purpose

A financial institution may not use a firearms code to engage in the following discriminatory conduct:
(1) Declining a lawful payment card transaction based on the assignment of a firearms code to the merchant or transaction;
(2) Limiting or declining to do business with a customer, potential customer, or merchant based on the assignment of a firearms code to previous lawful transactions involving the customer, potential customer, or merchant;
(3) Charging a higher transaction or interchange fee to any merchant or for a lawful transaction, as compared to the fee charged to a similarly situated merchant or for a similar transaction, based on the assignment of a firearms code; or
(4) Otherwise taking any action against a customer or merchant that is intended to suppress lawful commerce involving firearms, firearm accessories or components, or ammunition.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2B. The Second Amendment Financial Privacy Act › §31A-2B-8. Civil Remedies

(a) Subject to subsection (c) of this section, a customer may bring a civil action for damages, injunctive relief, or both damages and injunctive relief against any financial institution or government entity that causes the customers protected financial information to be disclosed in violation of this article. For each violation, the individual may recover:
(1) Against any person who negligently or recklessly violates this article, liquidated damages of $10,000 or actual damages, whichever is greater; or
(2) Against any person who intentionally violates this article, liquidated damages of $25,000 for each or actual damages, whichever is greater.
(b) Subject to subsection (c) of this section, a customer or merchant aggrieved by a violation of 31A-2B-7 of this code may bring a civil action for damages, injunctive relief, or both damages and injunctive relief. Said person may recover liquidated damages of $50,000 or actual damages, whichever is greater.
(c) Right to cure. Prior to an aggrieved party bringing a civil action pursuant to this section, a financial institution shall have the right to cure an alleged violation of this section, according to the procedures, restrictions, and requirements set forth in 46A-5-108(a) of this code:
Provided
, That both parties must follow the procedures set forth therein.
(d) Attorneys fees. If a court finds that a violation of this article has occurred as the result of a civil action brought pursuant to subsection (a) or subsection (b) of this section, the court shall award reasonable attorneys fees to the aggrieved party. An award of attorneys fees is subject to the same limitations set forth in 46A-5-108(f) of this code.
(e) Statute of Limitations. Any action under this article is barred unless the action is commenced within five years after the aggrieved party knows or reasonably should know of the violation. The statute of limitations provided herein is tolled for the 45-day period set forth in 46A-5-108(a) of this code or for the period the effectuation of the cure offer is being performed, whichever is longer.
(f) The remedies provided in this article are the exclusive civil remedies available to an aggrieved party for violations of this article.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2B. The Second Amendment Financial Privacy Act › §31A-2B-9. Enforcement; Contractual Authority of the State

(a) Notwithstanding any other provisions of this chapter, the Commissioner of Banking is authorized to administratively enforce the requirements of this article consistent with 31A-2-4 of this code.
(b) The Attorney General is authorized to investigate compliance with this article and may bring a civil action for injunctive relief to judicially enforce this article:
Provided
, That with regard to a national bank, the Attorney General is authorized to conduct investigations and take judicial enforcement action only to the extent permitted by 12 U.S.C. 25b(i). Upon awarding an injunction against a financial institution as the result of a judicial enforcement action pursuant to this subsection, a court may award the Attorney General reasonable attorneys fees.
(c) In selecting a financial institution to provide a financial service or product to the state related to payment card processing, the State Treasurer may disqualify a financial institution from the competitive bidding process or from any other official selection process if:
(1) During the past five years, a court of competent jurisdiction has entered an order or opinion finding that the financial institution violated this article;
(2) During the past five years, the Commissioner of Banking or the Attorney General, as the result of an investigation, has determined that a financial institution has violated this article;
(3) During the past five years, the financial institution has admitted to violating this article in the records of a court or other official proceeding; or
(4) The financial institution has publicly stated that it has adopted or intends to adopt policies or practices that violate this article.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 2B. The Second Amendment Financial Privacy Act › §31A-2B-10. Scope and Severability

(a) Nothing in this article may be construed or applied in a manner that violates or conflicts with superseding federal law.
(b) The sections and provisions of this article are severable. If any section or provision of this article is held unconstitutional or invalid, such unconstitutionality or invalidity shall not affect the other sections and provisions of this article, which shall remain in full force and effect.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 3. Board of Banking and Financial Institutions › §31A-3-4. Judicial Review; Appeals to Supreme Court of Appeals

(a) Any party to a hearing before the board adversely affected by any order of the board made and entered after a hearing as provided in section three, article three of this chapter shall be entitled to judicial review thereof in the manner provided in section four, article five, chapter twenty- nine-a of this code.
(b) Any such party adversely affected by a final judgment of a circuit court following judicial review as provided in subsection (a) of this section may seek review thereof by appeal to the Supreme Court of Appeals in the manner provided in article six, chapter twenty-nine-a of this code.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 4. Banking Institutions and Services Generally › §31A-4-1. General Corporation Laws Applicable; Charter Applications to Be Approved by West Virginia Board of Banking and Financial Institutions

(a) The general corporation laws of the state, including the provisions of chapter thirty-one-d of this code, shall govern banking institutions and the chartering thereof, except as otherwise provided in or where inconsistent with the provisions of this chapter, when the banking institutions are chartered as business corporations.
(b) The provisions of the Uniform Limited Liability Company Act, chapter thirty-one-b of this code shall govern banking institutions and the organizing thereof, except as otherwise provided in or where inconsistent with the provisions of this chapter when the banking institutions are chartered as limited liability companies. Any reference in this chapter to "directors" of a bank, in the case of limited liability company banks, refers to the bank's members if the bank is a member-managed company or to the bank's managers if it is a manager-managed company.
(c) No charter shall issue in this state for any banking institution unless the application therefor shall have been submitted to and approved by the West Virginia Board of Banking and Financial Institutions: Provided, That the board may not approve the application to charter any banking institution unless the proposed banking institution does business within this state and is subject to the supervision of the Commissioner of Banking.
2023 West Virginia Code › Chapter 31A. Banks and Banking › Article 4. Banking Institutions and Services Generally › §31A-4-3. Minimum Capital Stock; Classes of Stock; Par Value; Capitalization of Surplus

(a) No banking institution may hereafter be incorporated unless it shall have bona fide subscribed capital stock and capital surplus equal to at least $4 million. The West Virginia Board of Banking and Financial Institutions shall require capital in excess of $4 million if, in its judgment, economic conditions or the operating environment of the proposed banking institution make such a requirement necessary.
(b) Notwithstanding any provision of subsection (a) of this section, the Commissioner or the West Virginia Board of Banking and Financial Institutions may approve the incorporation of a bank newly organized solely for the purpose of facilitating the acquisition of another bank if the proposed newly organized bank has a bona fide subscribed capital stock and capital surplus of at least $60,000.
(c) Banking institutions shall issue shares of one or more classes of stock and the shares shall have a nominal or par value of not less than $1 nor more than $100 each and, as to each banking institution, each share shall be equal in all respects with any other share within each class of stock.
(d) Any banking institution may change the par value of its shares when and to the extent that any such action may be authorized in writing by the commissioner.