There is a newer version of the West Virginia Code
2009 West Virginia Code
CHAPTER 5E. VENTURE CAPITAL COMPANY
ARTICLE 1. WEST VIRGINIA CAPITAL COMPANY ACT.
§5E-1-20 Limitation on financial institutions.
§5E-1-20. Limitation on financial institutions.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.
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