§31A-8F-29. Voluntary closure of agency or representative office;
(a) No foreign bank which is licensed to establish and
maintain a West Virginia state agency or West Virginia
representative office shall close the office without filing an
application with, and obtaining the prior approval of, the
commissioner. The failure of an agency or representative office to
remain open to the public for business at least six hours per day
four days per week (excluding legal holidays) shall, unless
previous approval for lesser hours has been granted by the
commissioner, constitute a closing, and may result in a suspension
or revocation of license.
(b) If the commissioner finds, with respect to an application
by a foreign bank under this section, that the closing of the
office will not be substantially detrimental to the public
convenience and advantage, the commissioner shall approve the
application. If the commissioner finds otherwise, he or she shall
deny the application.
(c) Whenever an application by a foreign bank under this
section has been approved and all conditions precedent to the
closing have been fulfilled, such foreign bank may close the office
and shall promptly thereafter surrender to the commissioner the
license which authorized the foreign bank to maintain the office.