West Virginia Legislature
Code of West Virginia, 1931
Official Recodification - Enacted December 31, 1930 - Effective January 1, 1931
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6,321 of 6,321 sections
Showing 3,151–3,200 of 6,321 sections
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31-5-8 Ch. 31 — CORPORATIONS Indemnity Companies Funds of Indemnity Companies; Investments; Real Estate Any indemnity company may own and hold real estate necessary for its purposes as a corporation. Any such company may purchase real estate in order to avoid loss… Proofed
31-5-9 Ch. 31 — CORPORATIONS Indemnity Companies Not to Act as Fiduciary No indemnity company shall be appointed or act as a fiduciary in any capacity in the State of West Virginia. Any indemnity company violating the provisions of t… Proofed
31-5-10 Ch. 31 — CORPORATIONS Indemnity Companies Existing Contracts of Indemnity Companies All contracts, agreements and obligations made or entered into by any indemnity company chartered under the laws of this or any other state, before such company… Proofed
31-5-11 Ch. 31 — CORPORATIONS Indemnity Companies Foreign Indemnity Companies; How Authorized to do Business in West Virginia Any indemnity company incorporated under the laws of any other state of the United States or under the laws of the District of Columbia, duly authorized by its … Proofed
31-5-12 Ch. 31 — CORPORATIONS Indemnity Companies Existing Indemnity Companies Required to Comply With Provisions of This Article Any indemnity company heretofore chartered under the laws of this State, or heretofore chartered under any other jurisdiction, and authorized to transact busine… Unreviewed
31-5-13 Ch. 31 — CORPORATIONS Indemnity Companies Additional Permit to Guarantee Payment of Bank Deposits In addition to the permit of the insurance commissioner to be procured under other provisions of this article, no indemnity company shall make any contract, agr… Proofed
31-5-14 Ch. 31 — CORPORATIONS Indemnity Companies Surety for Employee of Carrier If any common carrier authorized to do business in this State shall employ any person in any position of trust in this State, and shall apply to any surety comp… Proofed
31-5-15 Ch. 31 — CORPORATIONS Indemnity Companies Supervision by Insurance Commissioner All companies engaged in this State in the exercise of any of the rights or powers mentioned in this article, and all other companies of similar character, shal… Proofed
31-6-1 Ch. 31 — CORPORATIONS Building and Loan Associations Incorporation; Powers Any number of persons, not less than nine, may form a building and loan association for the purpose of encouraging industry, frugality and home building, and sa… Proofed
31-6-2 Ch. 31 — CORPORATIONS Building and Loan Associations Loans; Premiums; Usury Every such association shall have the power to provide by its by-laws for selling to the stockholders the money in the treasury, at or above a minimum premium; … Proofed
31-6-3 Ch. 31 — CORPORATIONS Building and Loan Associations Dues; Interest; Fines Every such association may levy, assess and collect from its stockholders, periodical dues upon every share of its stock; the amount of such dues to be fixed by… Proofed
31-6-4 Ch. 31 — CORPORATIONS Building and Loan Associations Repayment of Loans; Withdrawal; Default A borrower from such association may repay the loan at any time; and in case of the repayment thereof before the maturity of the shares pledged for such loan, t… Proofed
31-6-5 Ch. 31 — CORPORATIONS Building and Loan Associations Contingent Fund It shall be lawful a building and loan association to set aside in its treasury, out of the dues, fines, interest and premiums paid by its stockholders, a conti… Proofed
31-6-6 Ch. 31 — CORPORATIONS Building and Loan Associations Permit All building and loan associations, incorporated or unincorporated, and all persons, firms, partnerships, associations, trustees, or combinations of persons wha… Proofed
31-6-7 Ch. 31 — CORPORATIONS Building and Loan Associations By-Laws Every such association shall, adopt by-laws, which shall embrace all the provisions of sections one, two, three and four of this article, and such further provi… Proofed
31-7-1 Ch. 31 — CORPORATIONS Industrial Loan Companies Definition The term “industrial loan company,’’ as used in this chapter, shall mean any corporation formed under the provisions of this article and any corporation heretof… Proofed
31-7-2 Ch. 31 — CORPORATIONS Industrial Loan Companies Incorporators; Name; Capital Stock Any number of persons, not fewer than thirteen, citizens of this. State, may become an industrial loan company on the terms and conditions and subject to the li… Proofed
31-7-3 Ch. 31 — CORPORATIONS Industrial Loan Companies Agreement of Incorporation Persons desiring to form any such industrial loan company shall sign and acknowledge an agreement of incorporation, as provided in article one of this chapter. Proofed
31-7-4 Ch. 31 — CORPORATIONS Industrial Loan Companies Certificate of Incorporation The agreement aforesaid shall be delivered to the secretary of state, who, after the agreement has been approved in writing by the commissioner of banking, shal… Proofed
31-7-5 Ch. 31 — CORPORATIONS Industrial Loan Companies Approval by Commissioner of Banking Whenever the certificate of incorporation has been duly recorded and filed as herein provided and the recording and filing of the same certified to the commissi… Proofed
31-7-6 Ch. 31 — CORPORATIONS Industrial Loan Companies Powers In addition to the general powers conferred upon corporations by the laws of this State, each industrial loan company shall have power to exercise by its board … Proofed
31-7-7 Ch. 31 — CORPORATIONS Industrial Loan Companies Limitations A corporation under the on provisions of this article shall not: (a) Make any loan under the provisions of this article for a longer period than two years fro… Proofed
31-7-8 Ch. 31 — CORPORATIONS Industrial Loan Companies Cash Reserve Every industrial loan company, under the provisions of this article, shall at all times maintain a cash reserve equal to five per cent of its issued and outstan… Proofed
31-7-9 Ch. 31 — CORPORATIONS Industrial Loan Companies Directors The affairs of every industrial loan company shall be managed by a board of not fewer than five directors, a majority of whom shall at all times be residents of… Proofed
31-7-10 Ch. 31 — CORPORATIONS Industrial Loan Companies Chief Executive Officer to be Bonded The directors of every industrial loan company shall require the manager or other chief executive officer appointed by them in lieu of a manager, before he perf… Proofed
31-7-11 Ch. 31 — CORPORATIONS Industrial Loan Companies Record of Stockholders The president, manager or treasurer of every industrial loan company shall at all times cause to be kept a true and accurate list of the names of stock holders … Proofed
31-7-12 Ch. 31 — CORPORATIONS Industrial Loan Companies Dividends The board of directors may at any time declare dividends out of the net accrued cash earnings of the company, payable upon the controlling and voting stock ther… Proofed
31-7-13 Ch. 31 — CORPORATIONS Industrial Loan Companies Supervision and Control Every industrial loan company shall be subject to the inspection, supervision and control of the commissioner of banking in the manner provided in article eight… Proofed
31-7-14 Ch. 31 — CORPORATIONS Industrial Loan Companies Amendments to By-Laws Any and all amendments to the by-laws of any industrial loan company under this article shall he approved by the commissioner of banking before they become oper… Proofed
31-7-15 Ch. 31 — CORPORATIONS Industrial Loan Companies Voluntary Dissolution Whenever an industrial loan company shall determine by its board of directors, with the consent of threefourths of the holders of its controlling and voting sto… Proofed
31-7-16 Ch. 31 — CORPORATIONS Industrial Loan Companies Loans to Officers and Employees No industrial loan company shall make any loan to its president, its vice president, its manager, or to any of its directors, or to any of its clerks, tellers, … Proofed
31-7-17 Ch. 31 — CORPORATIONS Industrial Loan Companies Article Applicable to Existing Companies of Like Nature Heretofore Organized Under Other Laws Any corporation now organized, existing and doing any business in this State on a plan which would come within the scope of the regulatory provisions of this ar… Proofed
31-7-18 Ch. 31 — CORPORATIONS Industrial Loan Companies General Corporation Laws Applicable Every company organized under this article, or heretofore organized and coming with in the operation of this article, may, subject to the written approval of th… Proofed
31-8-1 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Department of Banking and Supervision For the administration of the laws relating to the supervision, by the department of banking, of banking institutions, industrial loan companies, building and l… Proofed
31-8-2 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Term; Compensation; Oath; Bond The commissioner of banking shall be appointed for a term of four years and until his successor is appointed and qualifies. The deputy commissioner, bank examin… Proofed
31-8-3 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Office and Records The department of banking and supervision shall maintain an office at the state capital, in which shall be kept a complete record of all of its transactions and… Proofed
31-8-4 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Corporations Subject to Supervision Every banking institution and every industrial loan company incorporated under the laws of his State, and every building and loan association engaged in the tra… Proofed
31-8-5 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Securing Permit or License to Engage in Business Any banking institution, industrial loan company, building and loan association, or other corporation by law placed under the supervision of the department of b… Proofed
31-8-6 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations General Powers of Supervision The commissioner of banking shall have and exercise supervisor powers over every banking institution, and industrial loan company and building and loan associat… Proofed
31-8-7 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Examination of Books, Accounts and Records; Communcations from Banking Commissioner The commissioner of banking shall make, or cause to be made, at least twice a year, a thorough examination of all of the books, accounts, records and papers of … Proofed
31-8-8 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Officers of Corporations to Afford Facilities for Examination The officers of every corporation subject to examination under the preceding section shall, upon the request of the examining officer, furnish and give full acc… Proofed
31-8-9 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Correction of Irregularities; Business Practices; Reports Under Oath; Special Reports Required; Special Examinations If it shall be disclosed by any examination of a corporation subject to supervision by the department of banking, or ascertained in any other manner, that the l… Proofed
31-8-10 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Statements and Periodical Reports of Industrial Loan Company and Building and Loan Association Every industrial loan company and building and loan association and every other corporation by law placed under the supervision of the department of banking and… Proofed
31-8-11 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Reports of Banking Institutions; Publication Every banking institution organized and authorized to transact business under this chapter shall make at least four reports each fiscal year to the commissioner… Proofed
31-8-12 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Borrowing by Banking Institution; Record of Collateral Any banking institution organized and authorized to transact business hereunder may borrow money, rediscount any of its notes, or borrow bonds for the use of th… Proofed
31-8-13 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Bonds Signed by Indemnity Company May be Required by Commissioner Of Banking The commissioner of banking, in his discretion, may require that any or all bonds of the officers or employees of any industrial loan company or building and lo… Proofed
31-8-14 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Impairment of Capital Forbidden; How Remedied The officers and directors of a banking institution organized and authorized to transact business under this chapter shall not pay out, disburse or withdraw, or… Proofed
31-8-15 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Annual Meeting; Examining Commitee; Appointment; Failure to Act The stockholders of each banking institution shall meet annually and at such annual meeting it shall be the duty of the cashier or other executive officer of su… Proofed
31-8-16 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Reserve Fund of Banking Institutions Each banking institution operating under the provisions of this chapter shall at all times maintain on hand as a reserve, in lawful money of the United States o… Proofed
31-8-17 Ch. 31 — CORPORATIONS Business Operations and Supervision of Banking Institutions, Industrial Loan Companies and Building and Loan Associations Membership in Federal Reserve Bank Any banking institution in this State shall have the power to subscribe to the capital stock and become a member of a federal reserve bank, and thereupon shall … Proofed
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