SB14

West Virginia SB14 authorizes restitution to victims of securities fraud and establishes a fund for that purpose.

West Virginia SB14 amends the state code to authorize restitution to victims of securities fraud and create a Securities Restitution Operating Fund. The fund will provide restitution assistance to victims awarded restitution in a final order. The bill defines "victim" and "final order" and sets out procedures for applying for restitution assistance. The commissioner may award restitution assistance up to $25,000 or 25 percent of the unpaid restitution, or up to $50,000 or 50 percent if the victim is a vulnerable person.