WVC 31 A- 5 - 2
§31A-5-2. Authority of state banks to invest in bank service
Notwithstanding any other provision of law, any state bank
is hereby authorized to invest not more than ten percent of its
paid-in and unimpaired capital and unimpaired surplus in a bank
service corporation. If stock in a bank service corporation has
been held by two state banks, or by one such bank and one
national banking association and one state bank or such
association ceases to utilize the services of the corporation and
ceases to hold stock in it, and leaves a state bank as the sole
stockholder, the bank service corporation may nevertheless
continue to function as such and such state bank may continue to
hold stock in such corporation.
Note: WV Code updated with legislation passed through the 2016 Regular Session
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