(b) In determining whether an activity is financially related, the Commissioner shall consider:
(1) The ability of financial institutions to exercise any additional powers in a safe and sound manner;
(2) The authority of national banks, federal thrifts, federal credit unions and other financial service providers operating pursuant to federal law or regulation and the laws of other states to provide the financially related service; and
(3) Any specific limitations on financial institution operations or powers contained in this chapter.
(c) If a state-chartered banking institution or bank holding company must make prior application to a federal bank regulatory agency for approval to engage in a financially related activity, the banking institution or bank holding company shall file with the Commissioner a copy of the application submitted to the federal agency.
(d) The Commissioner shall include a list of every financially related activity authorized pursuant to this section during the previous twelve months in his or her annual report to the Legislature.
Note: WV Code updated with legislation passed through the 2012 1st Special Session