HB 4239
Relating to authorizing the Division of Financial Institutions to promulgate a legislative rule relating to the notice and treatment of joint accounts.
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill authorizes the West Virginia Division of Financial Institutions to create a rule outlining how financial institutions should handle notices and transactions involving joint accounts. The rule, currently outlined in 106 CSR 17, will address the specific procedures and requirements for these types of accounts. This legislation aims to standardize practices related to joint accounts across the state’s financial institutions.
Key provisions
- Authorizes the Division of Financial Institutions to develop a legislative rule.
- The rule will focus on the notice and treatment of joint accounts.
- The rule is based on existing guidelines detailed in 106 CSR 17.
- The rule is authorized under West Virginia Code §31A-4-33.
Who is affected
- Financial Institutions
- Customers of joint accounts
- The Division of Financial Institutions
Notable changes
- Establishes a formal rule for joint account practices.
- Provides the Division of Financial Institutions with rulemaking authority.
Sponsors
Official sponsors from legislative records.
Primary sponsor
D. Smith
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yours