106 CSR 5

H. B. 4138

(By Delegate(s) Brown, Poling, D., Fleischauer, Talbott and Overington)

[Introduced January 19, 2012; referred to the Committee on Banking and Insurance then the Judiciary.]

A BILL to amend and reenact article 7, chapter 64 of the Code of West Virginia, 1931, as amended, relating to authorizing the Division of Banking to promulgate a legislative rule relating to residential mortgage lenders, brokers and loan originators.

Be it enacted by the Legislature of West Virginia:

    That article 7, chapter 64 of the Code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:

ARTICLE 7. AUTHORIZATION FOR DEPARTMENT OF TAX AND REVENUE TO PROMULGATE LEGISLATIVE RULES.

§64-7-1. Division of Banking.

    The legislative rule filed in the State Register on the twenty-first day of July, two thousand eleven, authorized under the authority of section three, article seventeen, chapter thirty-one, of this code, relating to the Division of Banking (residential mortgage lenders, brokers and loan originators, 106 CSR 5), is authorized.

    NOTE: The purpose of this bill is to authorize the Division of Banking to promulgate a legislative rule relating to Residential Mortgage Lenders, Brokers and Loan Originators.

    This section is new; therefore, strike-throughs and underscoring have been omitted.