The proposed bill aims to establish the Uniform Antitrust Pre-Merger Notification Act in West Virginia, which would require certain businesses to notify the state attorney general prior to merging. The bill outlines specific definitions related to the pre-merger notification process, including terms such as "Hart-Scott-Rodino Act," "pre-merger notification," and "person." It mandates that individuals or entities filing a pre-merger notification must submit a complete electronic copy of the Hart-Scott-Rodino form to the attorney general, along with any additional documentary material if applicable. The attorney general is tasked with maintaining the confidentiality of these documents, with certain exceptions for administrative or judicial proceedings.

Additionally, the bill allows for reciprocity in sharing confidential documents with attorneys general from other states that have enacted similar legislation, provided those states have adequate confidentiality protections in place. It also authorizes the attorney general to impose civil penalties for noncompliance with the filing requirements, with a maximum penalty of $10,000 per day. The bill emphasizes the importance of uniformity in the application and construction of the law across jurisdictions and specifies that its provisions will only apply to pre-merger notifications filed after the act's effective date.

Statutes affected:
Introduced Version: 47-18A-1, 47-18A-2, 47-18A-3, 47-18A-4, 47-18A-5, 47-18A-6, 47-18A-7, 47-18A-8