West Virginia § 12-1-3 - 12-1-3. Depositories for interest earning deposits; qualifications.
Full text of West Virginia West Virginia Code § 12-1-3 — 12-1-3. Depositories for interest earning deposits; qualifications., with citation guidance and answers to common questions.
§ 12-1-3. 12-1-3. Depositories for interest earning deposits; qualifications.
Any state or national bank or any state or federal savings and loan association in this state shall, upon request made to the State Treasurer, be designated as an eligible depository for interest earning deposits of state funds if such bank or state or federal savings and loan association meets the requirements set forth in this chapter. For purposes of this article, the term "interest earning deposits" includes certificates of deposit or other financial institution products. The State Treasurer shall make and apportion such interest earning deposits and shall prescribe the interest rates, terms and conditions of deposits, all in accordance with the provisions of articles six and six-c of this chapter: Provided, That state or federal savings and loan associations insured by an agency of the federal government shall be eligible for such deposits not in excess of the amount insured by any agency of the federal government.
Source: official West Virginia text · Last verified 2026-08-27
Frequently Asked Questions About West Virginia § 12-1-3
What does West Virginia Code § 12-1-3 cover?
Section 12-1-3 ("12-1-3. Depositories for interest earning deposits; qualifications.") is part of the West Virginia Code, the codified statutory law of West Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite West Virginia § 12-1-3?
A common citation format is "West Virginia Code § 12-1-3" (West Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of West Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the West Virginia official source linked on this page or consult a licensed West Virginia attorney.
How does West Virginia § 12-1-3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in West Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in West Virginia.