COMMITTEE SUBSTITUTE
FOR
H. B. 2789
(By Delegates R. M. Thompson, H. White, Perry,
Hrutkay, Iaquinta, Carmichael and Canterbury)
(Originating in the House Committee on Banking and Insurance)
[March 16, 2005]
A BILL to
amend and reenact §31A-8A-8 of the Code of West Virginia,
1931, as amended, relating to the assessment date for bank
holding companies.
Be it enacted by the Legislature of West Virginia:
That
§31A-8A-8 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 8A. ACQUISITION OF BANKS BY BANK HOLDING COMPANIES.
§31A-8A-8.
Authority to issue rules; cooperative agreements; fees.
In order to carry out the purposes of this article, the
Commissioner may:
(a) (1) Adopt Propose rules and issue orders;
(B) (2) Enter into cooperative, coordinating or information-
sharing agreements with any other bank supervisory agency or any
organization affiliated with or representing one or more bank supervisory agencies;
c) (3) Accept any report of examination or investigation by
another bank supervisory agency having concurrent jurisdiction over
a West Virginia bank or a bank holding company that controls a West
Virginia state bank in lieu of conducting the Commissioner's own
examination or investigation of such the bank holding company or
bank;
(d) (4) Enter into contracts with any bank supervisory agency
having concurrent jurisdiction over a West Virginia state bank or
a bank holding company that controls a West Virginia state bank to
engage the services of such the agency's examiners at a reasonable
rate of compensation, or to provide the services of the
Commissioner's examiners to such any bank supervisory agency at a
reasonable rate of compensation: Provided, That any such contract
for examiners shall be deemed excluded from the requirements of
article three, chapter five-a of this code;
(e) (5) Enter into joint examinations or joint enforcement
actions with any other bank supervisory agency having concurrent
jurisdiction over any West Virginia state bank or any bank holding
company that controls a West Virginia state bank: Provided, That
the Commissioner may take any such action independently if the
Commissioner he or she determines that such the action is necessary
to carry out his or her the responsibilities under set forth in
this article to enforce compliance with the laws of this state: Provided, however, That in the case of an out-of-state bank holding
company, the Commissioner shall recognize the authority of the home
state regulator over corporate governance matters and the primary
responsibility of the home state regulator with respect to safety
and soundness matters; and
(f) (6) Assess supervisory and examination fees that shall be
payable by any bank holding company operating a bank or bank branch
in West Virginia in connection with the Commissioner's performance
of his or her duties under this article. The Commissioner shall
charge and collect from each bank holding company and pay into a
special revenue account in the State Treasury for the Department of
Banking an annual assessment payable on the fifteenth day of
February January computed on total deposits in this state of the
bank holding company as of the last day of December thirtieth day
of June of the previous year as is set out in section eight,
article two of this chapter. The payment of such registration the
assessment fee shall be accompanied by the report prescribed by the
Commissioner under subsection (a), section seven of this article.
Examination fees may be shared with other bank supervisory agencies
or organizations affiliated with or representing one or more bank
supervisory agencies in accordance with agreements between them and
the Commissioner.