Any person pledging his credit or collateral as an endorser, guarantor, or accommodator to another person or corporation for the purpose of assisting another in obtaining credit shall not be, or construed to be, an investor in said borrower as to the amount so borrowed, nor shall any payments by said borrower on the indebtedness be, or construed to be, dividend to the endorser, guarantor or accommodator.
W. Va. Code § 11-21-9a
Pledge of credit or collateral by endorser, guarantor or accommodator not to constitute investment in borrower
Known as the West Virginia Personal Income Tax Act
The act spans §§ 11-21-1 to 11-21-9a (139 sections).
Official source: West Virginia Legislature. Reproduced from public-domain West Virginia statutes; confirm against the official source for the current text. Not legal advice.