W. Va. Code R. § 106-16-4

Current through Register Vol. XLI, No. 50, December 13, 2024
Section 106-16-4 - Lease Term, Legal Lending Limits
4.1. Term of Initial Lease Transaction.

Lease financing transactions entered into pursuant to this regulation must have an initial term of not less than ninety (90) days and not more than ten (10) years.

4.2. Application of Legal Lending Limits.

Lease financing transactions entered into pursuant to this regulation are subject to the limitations on loans and extensions of credit under W. Va. Code '31A-4-26 and regulations promulgated thereunder. The Commissioner of Banking reserves the right to determine that such leases are also subject to the limitations of any other law, regulation or ruling.

W. Va. Code R. § 106-16-4