Ensuring that survivor of merger, reorganization, purchase, or assumption of liabilities of bank chartered by WV is insured by FDIC

This bill requires that any entity purchasing or taking over a West Virginia-chartered bank (through merger, sale, or similar transaction) must be insured by the Federal Deposit Insurance Corporation (FDIC). It directly affects West Virginia banks and potential buyers of their assets, ensuring that the surviving entity in such transactions has federal deposit insurance. The law adds a new requirement to state banking code, with an exception for agreements already in place before the bill's enactment. It also allows the Banking Commissioner or interested parties (like other banks) to seek court injunctions to block transactions violating this rule.