W. Va. Code R. § 106-20-3

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 106-20-3 - Purpose of legal lending limits law and regulations

3.1 The purpose of the state legal lending limits law and regulations, W.Va. Code § 31A-4-26(a), and 106 CSR Series 9 respectively, is to protect a bank from the credit risks associated with over-exposure to a single person, entity, or affiliated group of persons or entities through loans, extensions of credit, or other contractual commitments or obligations with that person, entity or affiliated group.