HB 2889
To permit a fairness hearing exemption to the registration requirements of the Uniform Securities Act.
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates a process for fairness hearings related to security exchanges in West Virginia. It allows the State Auditor’s Commissioner or their designee to hold hearings to determine if an exchange of securities is fair to security holders. If the hearing finds the exchange is fair, the exchange can be exempt from standard securities registration requirements. The bill outlines procedures for applications, hearings, and fee structures to facilitate these fairness assessments.
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