West Virginia 2026 Session Status: Enacted 1 R cosponsors

SB 581 — Eliminating requirement that commissioner approve joint account forms used by banking institutions

Last action — Chapter 150, Acts, Regular Session, 2026

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House of Delegates
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 22, 2026. Enacted.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 72% · moderate confidence

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 R).

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

The bill removes the need for commissioner approval of joint account forms used by banks.

This legislation eliminates the requirement for banking institutions to seek approval from a commissioner for their joint account forms. It streamlines the process for banks in managing joint accounts.

What this means for you
  • Small Business: For small businesses that use banking services, this may simplify the process of setting up joint accounts.

Summary

Eliminating requirement that commissioner approve joint account forms used by banking institutions

Bill Text

What changed in the latest version

75 added · 58 removed

Plain-language change summary

The revised version of SB 581 simplifies the language surrounding joint bank accounts by removing the former requirement related to trustee deposits upon death, thereby clarifying how funds can be distributed among joint account holders. Specifically, it emphasizes that the entire balance of a joint account can be paid out to any of the account holders or used as collateral unless a written notice not to do so is provided. This change is important because it allows for more straightforward access to funds, which can help prevent complications and delays after the death of a joint account holder.

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WEST VIRGINIA LEGISLATURE REGULAR SESSION Introduced Senate Bill 581 BYSENATORAZINGER [Introduced January 22, 2026;
WEST VIRGINIA LEGISLATURE REGULAR SESSION Enrolled Senate Bill 581 By Senator Azinger [Passed March 12, 2026;
referred to the Committee on Banking and Insurance] Intr SB 581 A BILL to amend and reenact §31A-4-33 of the Code of West Virginia, 1931, as amended, relating to joint accounts in banking institutions;
in effect 90 days from passage (June 10, 2026)] Enr SB 581 AN ACT to amend and reenact §31A-4-33 of the Code of West Virginia, 1931, as amended, relating to joint accounts in banking institutions;
(c) Payment to any joint depositor and the receipt or the acquittance of the one to whom such payment is made shall be a valid and sufficient release and discharge for all payments made on account of such deposit, prior to the receipt by the banking institution of notice in writing, signed by any one of such joint tenants not to pay such deposit in accordance with the terms thereof.
(c) Payment to any joint depositor and the receipt or the acquittance of the one to whom such payment is made shall be a valid and sufficient release and discharge for all payments made on account of such deposit, prior to the receipt by the banking institution of notice in writing, signed Enr SB 581 by any one of such joint tenants not to pay such deposit in accordance with the terms thereof.
Intr SB 581 Prior to the receipt of such notice, no banking institution shall be liable for the payment of such sums.
Prior to the receipt of such notice, no banking institution shall be liable for the payment of such sums.
(d) When any joint deposit account is opened on or after July 1, 1994, the owners thereof shall be given written notice either on a signature card or in connection with the execution of a signature card on a form to be approved by the banking commissioner, that the entire balance of any such account may be paid to a creditor or other claimant of any one of the joint tenants pursuant to legal process, including, but not limited to, garnishment, suggestion, or execution, regardless of the receipt of any notice from any of the joint tenants.
(d) When any joint deposit account is opened on or after July 1, 1994, the owners thereof shall be given written notice either on a signature card or in connection with the execution of a signature card that the entire balance of any such account may be paid to a creditor or other claimant of any one of the joint tenants pursuant to legal process, including, but not limited to, garnishment, suggestion, or execution, regardless of the receipt of any notice from any of the joint tenants.
Upon such payment, the banking institution shall be released and discharged from all payments on account of such deposit:
Upon such payment, the banking institution shall be released and discharged from all payments on account of such deposit: Provided, That payment by a banking institution to any such creditor shall be without Enr SB 581 prejudice to any right or claim of any joint tenant against the creditor or any other person to recover his or her interest in the deposit.
Provided, That payment by a banking institution to any such creditor shall be without Intr SB 581 prejudice to any right or claim of any joint tenant against the creditor or any other person to recover his or her interest in the deposit.
(h) The commissioner shall promulgate rules in accordance with the provisions of chapter 29A of this code regarding the approval of forms and procedures required by this section.
(h) The commissioner shall promulgate rules in accordance with the provisions of chapter 29A of this code regarding the procedures required by this section.
Enr SB 581 The Clerk of the Senate and the Clerk of the House of Delegates hereby certify that the foregoing bill is correctly enrolled.
...............................................................
Clerk of the Senate ...............................................................
Clerk of the House of Delegates Originated in the Senate.
In effect 90 days from passage.
...............................................................
President of the Senate ...............................................................
Speaker of the House of Delegates __________ The within is ................................................
this the...........................................
Day of ..........................................................................................................., 2026.
.............................................................
Governor 5
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Action History

  1. Filed for introduction

  2. To Banking and Insurance

  3. Introduced in Senate

  4. To Banking and Insurance

  5. Reported do pass

  6. On 1st reading

  7. Read 1st time

  8. On 2nd reading

  9. Read 2nd time

  10. On 3rd reading

  11. Read 3rd time

  12. Passed Senate (Roll No. 40)

  13. Communicated to House

  14. House received Senate message

  15. Introduced in House

  16. To Finance

  17. To House Finance

  18. Do pass

  19. Immediate consideration

  20. Read 1st time

  21. On 2nd reading, Special Calendar

  22. Read 2nd time

  23. On 3rd reading, Special Calendar

  24. Read 3rd time

  25. Passed House (Roll No. 428)

  26. Communicated to Senate

  27. Completed legislative action

  28. House Message received

  29. Effective ninety days from passage

  30. To Governor 3/18/2026

  31. To Governor 3/18/2026 - Senate Journal

  32. Approved by Governor 3/25/2026

  33. Approved by Governor 3/25/2026 - Senate Journal

  34. Approved by Governor 3/25/2026 - House Journal

  35. Chapter 150, Acts, Regular Session, 2026

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 151 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (151)

151 members have not signed on to this bill.

Show all 151 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 581 do?
Eliminating requirement that commissioner approve joint account forms used by banking institutions
Who sponsors SB 581?
SB 581 is sponsored by Mike Azinger (Republican).
What is the current status of SB 581?
This bill has been enacted into law. Introduced January 22, 2026. Enacted.
Where can I track SB 581?
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