W. Va. Code § 5E-1-20
Limitation on financial institutions
West Virginia · West Virginia Code Chapter 5E — Venture Capital Company · Status: effective
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- W. Va. Code § 5E-1-20, Limitation on financial institutions, West Virginia, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2359677
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Full text
Not more than forty-nine percent of the total capital base of any capital company which is not a small business investment company may be owned by banks, savings and loan associations, savings banks or other financial institutions, or any affiliate thereof, as investors. No officer, employee or director of any such financial institution may vote as a member of the board of any capital company formed under the provisions of this article if the matter being voted upon affects the financial institution for which the board member serves as an officer, employee or director.