Relating to merging of intrastate banks

HB 2790 establishes rules for mergers between West Virginia-chartered banks that operate exclusively within the state (intrastate banks). It requires commissioner approval for such mergers or asset transfers, mandates that the surviving bank must be FDIC-insured, and specifies that all assets and rights transfer automatically to the surviving institution. The bill also gives the banking commissioner authority to issue cease-and-desist orders against unauthorized mergers or asset sales, with appeals possible in circuit court within 30 days. This applies only to state-chartered banks operating solely in West Virginia, not to national banks or institutions with out-of-state operations.