WVC 5 E- 1 - 20
§5E-1-20. Limitation on financial institutions.
Not more than forty-nine percent of the total capital base of
any capital company which is not a small business investment
company may be owned by banks, savings and loan associations,
savings banks or other financial institutions, or any affiliate
thereof, as investors. No officer, employee or director of any
such financial institution may vote as a member of the board of any
capital company formed under the provisions of this article if the
matter being voted upon affects the financial institution for which
the board member serves as an officer, employee or director.
Note: WV Code updated with legislation passed through the 2016 Regular Session
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