Senate Bill No. 209
(By Senator Helmick)
[Passed February 20, 1998; in effect ninety days from passage.]
AN ACT to amend and reenact section one, article six, chapter
seven of the code of West Virginia, one thousand nine
hundred thirty-one, as amended, relating to counties
selecting depositories for their moneys to provide
nondiscriminatory treatment of out-of-state banks as
required by changes in federal law; and to delete and
correct obsolete references.
Be it enacted by the Legislature of West Virginia:
That section one, article six, chapter seven of the code of
West Virginia, one thousand nine hundred thirty-one, as amended,
be amended and reenacted to read as follows:
ARTICLE 6. COUNTY DEPOSITORIES.
§7-6-1. Designation of depositories.
On or before the thirtieth day of June, of each year, the county commission of every county shall, by order of record,
designate all of the banking institutions, as defined in section
two, article one, chapter thirty-one-a of this code, situated in
the county and duly incorporated under the laws of any state, or
organized under the laws of the United States, as depositories of
public moneys: Provided, That in any county where no such
banking institutions exist, or where such banking institutions
fail, refuse or neglect to comply with all the provisions and
conditions of this article, the county commission shall designate
some qualified banking institution in some other county of this
state convenient to the county seat. Risk and expense of making
deposits in county depositories located outside of the county
seat shall be borne by the banking institution in which the
deposits are made. When any banking institution, designated by
the county commission as provided by this section, has complied
with all of the requirements and provisions of this article, the
commission shall declare it a county depository.