reglab/statecodes huggingface dataset:
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 6 - Savings and Loan Associations › Article 3 - Reorganization › Section 13-6-302 - Conversion to Federal Association; Procedure.

13-6-302. Conversion to federal association; procedure.
(a) Any state savings and loan association, including a mutual savings and loan association, or any other home financing association, eligible to become a federal savings and loan association may convert itself into a federal savings and loan association by the following procedure:
(i) At any meeting of the shareholders of the association called to consider a conversion and held in accordance with the laws governing the association, the shareholders by an affirmative vote of the majority of the shareholders present in person or by proxy may vote to convert the association into a federal savings and loan association;
(ii) A copy of the minutes of the meeting verified by the affidavit of the president and the secretary of the meeting shall be filed within ten (10) days in the state banking commissioner's office and the appropriate federal banking regulatory agency;
(iii) After the adjournment of the meeting of shareholders, the association shall take the necessary action to make it a federal savings and loan association. Within ten (10) days of receipt of the federal charter a copy of the charter issued to the association by the appropriate federal banking regulatory agency or a certificate showing the organization of the association as a federal savings and loan association certified by, or on behalf of the appropriate federal banking regulatory agency shall be filed in the state banking commissioner's office and upon filing the association ceases to be a state association and becomes a federal savings and loan association.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 6 - Savings and Loan Associations › Article 3 - Reorganization › Section 13-6-303 - Conversion to Federal Association; Effect.

13-6-303. Conversion to federal association; effect.
(a) When a conversion becomes effective as provided by W.S. 13-6-302, an association ceases to be supervised by this state and all of the property of the association shall continue to be vested in the association under its new name and style as a federal savings and loan association.
(b) The federal savings and loan association at the time of the conversion is responsible for all of the obligations of the state association to the same extent as though the conversion had not taken place.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 6 - Savings and Loan Associations › Article 3 - Reorganization › Section 13-6-304 - Conversion to State Association; Procedure.

13-6-304. Conversion to state association; procedure.
(a) Any savings and loan association organized under the federal laws and doing business in this state pursuant to W.S. 13-4-109 through 13-4-112, including a mutual savings and loan association, may convert itself into a state savings and loan association under the laws of this state by the following procedure:
(i) At any meeting of the shareholders and members of any association called to consider a conversion and held in accordance with the laws governing the association, the shareholders and members by an affirmative vote of a majority of shares represented may vote to convert the association into a guaranty savings and loan association organized under the laws of this state. At this meeting directors of the converted association shall be chosen, and either the meeting shall adopt or the directors chosen shall adopt bylaws for the converted association;
(ii) A copy of the minutes of the meeting of the shareholders and members, verified by the affidavit of the president or vice president and the secretary of the meeting, shall be filed within ten (10) days after the meeting with the appropriate federal banking regulatory agency and in the state banking commissioner's office. The verified copy of the minutes of the meeting, when filed, is presumptive evidence of the holding and the action of the meeting;
(iii) The association shall then organize itself as a state savings and loan association under the laws of this state, including the filing of appropriate articles of incorporation, adoption of bylaws and election of officers and full compliance with the provisions of W.S. 13-2-201, 13-2-202 and 13-2-207 through 13-2-215. Upon completion of its organization, the association ceases to be a federal savings and loan association and becomes a state savings and loan association subject to the supervision of the state banking commissioner and the appropriate federal banking regulatory agency.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 6 - Savings and Loan Associations › Article 3 - Reorganization › Section 13-6-306 - Conversion to State Association; Effect.

13-6-306. Conversion to state association; effect.
When a conversion is effective, all the property of the federal savings and loan association continues to be vested in the association as a state savings and loan association. The state savings and loan association shall remain responsible for all the obligations of the federal association.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 6 - Savings and Loan Associations › Article 4 - Liquidation › Section 13-6-401 - When State Banking Commissioner to Take Charge; Refusal to So Permit.

13-6-401. When state banking commissioner to take charge; refusal to so permit.
(a) If it appears to the state banking commissioner that the affairs of any savings and loan association are in an unsound condition or that it is conducting its business in an unsafe or unlawful manner, the state banking commissioner may take possession of all books, records and assets of the association and hold them pending further proceedings.
(b) If the person in charge of the association refuses to permit the state banking commissioner to take possession, the state banking commissioner shall inform the attorney general who shall take whatever action is necessary to place the state banking commissioner in immediate possession of the property of the association.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 6 - Savings and Loan Associations › Article 4 - Liquidation › Section 13-6-402 - Directors to Relieve Unsound Condition; Duty.

13-6-402. Directors to relieve unsound condition; duty.
If it appears that the affairs of the association are in fact in an unsound condition, the state banking commissioner shall at once notify in writing the board of directors of the association of his decision, giving them twenty (20) days in which to restore the affairs of the association to a sound condition. Meanwhile, the state banking commissioner shall remain in charge of all books, records and assets of the association. He shall attend or be represented at all directors' and stockholders' meetings and suggest steps necessary to restore the association to a sound condition.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 6 - Savings and Loan Associations › Article 4 - Liquidation › Section 13-6-403 - Directors to Relieve Unsound Condition; Failure.

13-6-403. Directors to relieve unsound condition; failure.
If the affairs of the association are not restored within the twenty (20) days, the state banking commissioner shall report the facts to the attorney general, who shall institute proceedings in the district court of the proper county for the appointment of a receiver and for the dissolution of the association or other proceedings as may be required.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 6 - Savings and Loan Associations › Article 4 - Liquidation › Section 13-6-404 - Losses Exceeding Reserves or Earnings.

13-6-404. Losses exceeding reserves or earnings.
Whenever the losses of an association exceed the reserve account they may be charged against the undivided earnings, if any, and if they also exceed undivided earnings, the state banking commissioner may proceed to wind up the affairs of such association.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 6 - Savings and Loan Associations › Article 4 - Liquidation › Section 13-6-405 - Banking Commissioner to Be Appointed Receiver; Assistants; Bonding Requirements.

13-6-405. Banking commissioner to be appointed receiver; assistants; bonding requirements.
The state banking commissioner shall be appointed the receiver for any savings and loan association. No fee shall be allowed the state banking commissioner as the receiver, but he may appoint, upon the approval of the court, persons to assist him in any receivership proceedings as may be required. The compensation or fees of persons appointed by the state banking commissioner shall be fixed by the court and shall be paid, together with all other costs and expenses of the receivership, out of the assets of the association. The state banking commissioner may require each of the persons appointed to execute to him a bond as he may deem necessary. The state banking commissioner may designate the federal deposit insurance corporation to act without bond as receiver or liquidator of any savings and loan association whose assets are insured by the corporation and which has been closed for the purpose of liquidation.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 6 - Savings and Loan Associations › Article 4 - Liquidation › Section 13-6-406 - Priority of Claims.

13-6-406. Priority of claims.
(a) The claim of the owners of guaranty capital stock in an association is junior to the claim of savings and investment account holders and no part of the guaranty capital shall be withdrawn or retired until all savings and investment account holders have been paid in full at par with interest and all other claims have been paid and the corporation is liquidated.
(b) The claim of savings and investment account holders against the association is senior to the guaranty capital stockholders but junior to the claims of general creditors of the association. Savings and investment accounts shall be issued upon a uniform basis and without discrimination.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 1 - Powers › Section 13-7-101 - Generally.

13-7-101. Generally.
(a) Except as otherwise provided any association shall have the powers provided for in the general laws of this state relating to the creation and regulation of private corporations and in addition thereto shall have power, subject to the terms and conditions contained in the articles of incorporation and bylaws to:
(i) Issue stock to its members, to assess and collect from its members reasonable membership fees, withdrawal fees, dues, premiums and fines;
(ii) Permit its members to withdraw any or all of their stock deposits upon equitable terms;
(iii) Hold and convey such property as is necessary for its accommodation and the transaction of its business, mortgaged in good faith by way of security for debts duly contracted, conveyed to it in satisfaction of debts previously contracted in the course of its dealings, purchased at sales under judgments, decrees or mortgages held by it, or purchased to secure debts due to it;
(iv) Make loans to its members upon ample real estate or personal property security, unencumbered except by prior loans from the association, or upon the stock of the association to the extent of its withdrawal value;
(v) Make annual or semiannual distributions of its earnings; and
(vi) Do all other things that may be necessary to effect its purposes and conduct its authorized business.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 1 - Powers › Section 13-7-102 - Organization of Savings and Loan Associations.

13-7-102. Organization of savings and loan associations.
(a) It is the purpose of this section to authorize the organization and operation of state savings and loan associations according to the laws of the state of Wyoming which have the same powers and are subject to the restrictions provided for by the laws of the United States and the rules, regulations and requirements of the appropriate federal banking regulatory agency.
(b) Repealed by Laws 1993, ch. 115, 3.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 1 - Powers › Section 13-7-103 - Reports; Examinations; Membership in Federal Home Loan Bank.

13-7-103. Reports; examinations; membership in federal home loan bank.
(a) Repealed by Laws 2015, ch. 68, 2.
(b) A state savings and loan association may do all things necessary to obtain and to continue membership in the federal home loan bank and to obtain advances from it.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 1 - Powers › Section 13-7-104 - Real Estate and Personal Property.

13-7-104. Real estate and personal property.
(a) Except as provided in W.S. 13-7-102, any association may acquire, hold, encumber and convey real estate and personal property necessary for the transaction of its business or necessary to enforce or to protect its securities but it shall not otherwise acquire or deal in real estate. No association shall use more than ten percent (10%) of its assets at any time in acquiring real estate for its business location.
(b) All real estate, except that used for its business location, shall be entered on the books as other real estate at not more than acquisition cost or appraised fair market value, whichever is less, and shall be sold within five (5) years after title to the property is acquired except that the association may:
(i) Hold real estate, other than agricultural real estate, for a period not to exceed ten (10) years from the date of acquisition if the association charges off the real estate at a rate not less than that required to annually amortize the balance over fifteen (15) years or less;
(ii) Hold agricultural real estate for more than five (5) years after the date of acquisition only if a written waiver is granted by the state banking commissioner. A waiver may be granted under this paragraph for not more than one (1) year at a time and not more than three (3) times.
(c) No exchange of real estate shall be made by any association unless authorized by a vote of two-thirds (2/3) of its directors.
(d) Any appraisal required under subsection (b) of this section shall be conducted by a qualified appraiser who is not an officer or director of the association and whose reports are acceptable to the state banking commissioner.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 2 - Interest and Dividends › Section 13-7-201 - "Member" Defined.

13-7-201. "Member" defined.
A member of a state savings and loan association is any person owning a savings account or investment certificate or any person borrowing from or assuming a loan held by an association or obligated upon a loan held by an association through purchase. Savings and investment account holders have no vote in the operations of the association.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 2 - Interest and Dividends › Section 13-7-202 - Interest and Earnings.

13-7-202. Interest and earnings.
Interest receivable on all loans shall be accrued monthly and an interest due and accrued account shall be maintained equivalent to all accrued and uncollected interest. By each closing date, after payment or provision for all expenses and appropriate transfers to reserves, the remainder of net earnings for the period shall be credited to the undivided profits account or to an unallocated reserve account.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 2 - Interest and Dividends › Section 13-7-203 - Dividends.

13-7-203. Dividends.
(a) Guaranty capital stock is not entitled to any dividend until all expenses and losses have been paid and reserves have been provided as required by law and all interest has been paid on all savings and investment accounts.
(b) Following compliance with subsection (a) of this section all liabilities, earnings and undivided profits are available for dividends on the guaranty capital stock. In liquidation, after payment of all liabilities and savings and investment account holders at par with interest, any excess shall be paid to the guaranty capital stockholders pro rata.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 3 - Operations › Section 13-7-301 - Savings and Investment Accounts.

13-7-301. Savings and investment accounts.
State savings and loan associations may accept savings and issue savings account books or investment certificates as evidence of savings and shall credit interest or pay interest in cash periodically at least annually, if earned. Savings and investment accounts are ownership accounts in the association and not creditor liabilities and shall bear interest at a rate prescribed by the directors of the association for the period. If a rate is not specified prior to any period then accounts shall receive the rate prevailing the previous period. Interest shall be payable only if available from current earnings or undivided profits.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 3 - Operations › Section 13-7-302 - Accounts of Minors; Joint Accounts.

13-7-302. Accounts of minors; joint accounts.
(a) Any association may accept the following accounts when provided by its bylaws:
(i) Accounts in the name of any minor which shall be held for his exclusive right and benefit and free from the control or lien of all other persons. The accumulated savings together with the interest shall be paid to the person in whose name the account is held. The receipt of the minor releases the association for accumulated savings and dividends credited thereon;
(ii) An account in the name of two (2) or more persons is withdrawable by any one of them and the receipt of any one of the persons is a valid and sufficient release to the association for the withdrawals regardless of the death or disability of any other joint shareholder.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 3 - Operations › Section 13-7-305 - Right to Redeem Savings or Investment Accounts.

13-7-305. Right to redeem savings or investment accounts.
(a) The association may redeem by lot or otherwise, as determined by the board of directors, any part of any of its savings or investment accounts on a dividend date by giving thirty (30) days' notice by registered mail when funds are available for that purpose. An association shall not redeem any of its accounts when the association is in an impaired condition or when it has applications for withdrawal which have been on file more than thirty (30) days and have not been reached for payment. The redemption price of accounts redeemed shall be the full value of the account redeemed, as determined by the board of directors, but in no event shall the redemption price be less than the withdrawal value. If the notice of redemption has been duly given, and if on or before the redemption date the funds necessary for the redemption have been set aside to be available for the redemption, dividends upon the accounts called for redemption shall cease to accrue from and after the dividend date specified as the redemption date and all rights with respect to accounts shall terminate immediately after the redemption date, except only the right of the account holder of record to receive the redemption price without interest.
(b) All account books or certificates evidencing accounts which have been validly called for redemption must be tendered for payment within ten (10) years from the date of redemption designated in the redemption notice otherwise they shall be cancelled and all claims of the account holders against the association are barred.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 4 - Borrowing › Section 13-7-401 - Debenture Bonds.

13-7-401. Debenture bonds.
(a) Except as provided in W.S. 13-7-102, any savings and loan association may issue its debenture bonds maturing not later than five (5) years from the date of issue and bearing interest not exceeding six percent (6%) per annum. No bonds shall be issued unless there are sufficient funds on hand or receivable in time to meet approved applications for loans or for the payment of withdrawals of accounts. Debenture bonds may be retired by action of the board of directors at any time after one (1) year from date of issue by the secretary of the association giving notice in writing sixty (60) days or more prior to the next interest date to the recorded holders of the bonds. On return of the retired bonds together with any coupons, holders shall receive the par value of the bonds. At the expiration of the next interest period the bonds called shall cease to draw interest.
(b) Whenever the state banking commissioner deems any indebtedness incurred under the provisions of this section to be detrimental to the interest of the association, he shall notify the association to reduce its indebtedness to an amount he considers reasonable, giving the association reasonable time to effect the reduction of indebtedness.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 4 - Borrowing › Section 13-7-402 - Borrowing From Federal Home Loan Bank.

13-7-402. Borrowing from federal home loan bank.
(a) Any state savings and loan association may borrow money from the federal home loan bank, when authorized by resolution of its board of directors, upon terms and rates of interest as may be agreed upon. It may assign and pledge its notes, bonds, mortgages or other property and repledge the shares of stock or savings certificates pledged to it as collateral security without securing the consent of the owner as security for the repayment of its indebtedness. Any lawful holder of any evidence of indebtedness due to an association may enforce, in his own name or in the name of the association, all appropriate remedies to enforce collection, whether or not the stock or savings certificate described in connection with the note is held by the pledgee or holder.
(b) Any obligation incurred or loan made by an association constitutes a claim against the corporate assets and is payable in advance of, and by preference over, all claims or rights of the shareholders or holders of savings certificates in any of the assets of the association. These obligations are senior to any demand for the withdrawal or cancellation of all classes of shares or savings certificates in the association including matured shares or savings certificates.
(c) The existence of a withdrawal list consisting of members desiring to withdraw from the association does not prevent the board of directors of the association from borrowing money from the federal home loan bank to be used solely for the purpose of making mortgage loans to the members of the association, but all borrowed money shall be exclusively used for the purpose borrowed. A savings and loan association shall not at any time borrow money from the federal home loan bank in an amount exceeding any limit fixed by the laws of this state.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 5 - Loans › Section 13-7-501 - General Requirements.

13-7-501. General requirements.
For every loan made, except a loan from one (1) association to another, a note or bond specifying the amount loaned and the rate of interest and premium to be paid, secured by first mortgage on improved real estate, shall be taken. A complete abstract of title for the real estate signed by the person or corporation furnishing the abstract which shall be examined by a competent attorney-at-law and his opinion furnished approving the title and showing that the mortgage is a first lien, or a policy of title insurance of a reliable title insurance company authorized to issue insurance on titles within this state, or a duplicate certificate of ownership issued by a registrar of titles, shall be furnished. No mortgage loan shall be made except upon the report in writing of an appraiser or a committee of appraisers appointed by the board of directors which shall state the conservative value of the mortgage security. The directors may also loan upon the security of savings on deposit in the association to the amount of ninety percent (90%) of their withdrawal value, and may loan upon or invest in bonds of the United States and the state of Wyoming, in real property loans insured by the federal housing administration or guaranteed by the veterans administration, and in classes of bonds and warrants of the counties, school districts and other municipalities, as well as local improvement districts in this state, as the state banking commissioner may from time to time approve but no association shall loan any of its funds to an officer or director of the association.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 6 - Supervision by State Banking Commissioner › Section 13-7-602 - Duties Generally; Examinations.

13-7-602. Duties generally; examinations.
(a) The state banking commissioner shall supervise and administer the laws with respect to all state savings and loan associations doing business in this state. He shall make an examination into the affairs of all savings and loan associations consistent with the requirements of W.S. 13-3-702(a).
(b) Repealed by Laws 2015, ch. 68, 2.
(c) If the association is found to be in an unsafe condition, its charter may be suspended until the matters complained of by the state banking commissioner have been remedied.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 6 - Supervision by State Banking Commissioner › Section 13-7-603 - Supervision Fees.

13-7-603. Supervision fees.
(a) Repealed by Laws 1994, ch. 14, 2.
(b) The state banking commissioner shall collect from each savings and loan association chartered by this state for supervision an amount based upon the total assets of the association as reflected by the monthly report of financial data for the end of June and December of each year. The amount shall be adjusted by regulation issued by the state banking commissioner to assure consistency with the cost of supervision. Any adjustments shall be made by regulation issued by the state banking commissioner subject to the provisions of the Wyoming Administrative Procedure Act. Each savings and loan association shall, not later than the last day of January and July, compute the semiannual supervisory fee based upon the report of condition next preceding upon forms provided by the state banking commissioner and shall submit the report together with payment to the state banking commissioner.
(c) Repealed By Laws 2001, Ch. 156, 3.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 7 - Savings and Loan Operations › Article 6 - Supervision by State Banking Commissioner › Section 13-7-604 - Examination at Request of Members or Shareholders.

13-7-604. Examination at request of members or shareholders.
(a) Any association is subject to examination by the state banking commissioner upon the application of three (3) or more of its members in addition to examinations pursuant to W.S. 13-7-602. If it appears to the state banking commissioner that the association is violating any of the provisions of this act or is conducting its business in an unsafe or unauthorized manner, he shall direct the discontinuance of any illegal or unsafe practices. If the association fails to comply with the order, or fails to make reports as required, the state banking commissioner shall notify the attorney general who shall institute proceedings as the case requires.
(b) Upon request in writing of any number of shareholders representing at least one thousand (1,000) shares of stock the state banking commissioner may examine the affairs of the association. If the association is insolvent the examiner shall assume temporary control of the association pursuant to law.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 8 - Foreign Associations › Article 1 - Licensing › Section 13-8-101 - Entities Deemed Foreign Building and Loan Associations.

13-8-101. Entities deemed foreign building and loan associations.
(a) An association doing or about to do business in this state and having for a part of its title the words, "loan and building association", "building association", "savings and loan association" or "building and loan association", if organized or incorporated in any state or territory other than Wyoming, is a foreign building and loan association subject to the provisions of W.S. 13-8-101 through 13-8-302.
(b) An association whose stock, savings certificates, trust certificates or bonds are payable by any accumulating fund in regular periodical installments or which, at the time the application is made for such securities, accepts a note for part payment and an assignment of the securities to secure the note and where the note is paid by monthly, quarterly or semiannual payments, is, if organized or incorporated in any state or territory other than Wyoming, a foreign building and loan association subject to the provisions of W.S. 13-8-101 through 13-8-302.
(c) Foreign associations or companies doing business by collecting monthly installments or dues for the accumulation of funds out of which to loan money to any person on real or personal property fall within the definitions of this section.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 8 - Foreign Associations › Article 1 - Licensing › Section 13-8-102 - Certificate of Need Required; Exceptions.

13-8-102. Certificate of need required; exceptions.
A foreign association shall not establish any branch, office or agency within this state for the purpose of selling, delivering, advertising or offering its shares, certificates, bonds or other evidence of deposit or for taking deposits or payment for any security it issues without complying with all provisions of law, and without first obtaining from the state banking commissioner a certificate that he has determined there is a clear need for the foreign building and loan association and that the banks and savings and loan associations doing business in the state do not adequately meet that need. However, any foreign building and loan association which had established and was operating an office, branch or agency within this state prior to February 16, 1963 is not required to obtain the certificate. This section shall not prevent any foreign building and loan association from buying notes or bonds, loaning money and taking mortgages upon real or personal property or other security in this state.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 8 - Foreign Associations › Article 1 - Licensing › Section 13-8-103 - Certificate of Admission.

13-8-103. Certificate of admission.
(a) An association shall not conduct any business in the state except upon written statement by the state banking commissioner, which shall be filed and preserved in his office, to the effect that the association is solvent and conducting its affairs compatible with prudent business principles. When a statement is made, the state banking board may issue a certificate of admission to the association upon the payment to the state banking commissioner of an amount established by rule and regulation of the commissioner.
(b) Any foreign association which conducts business without a license shall be deemed to be doing business unlawfully.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 8 - Foreign Associations › Article 1 - Licensing › Section 13-8-104 - Filing of Statement; Appointment of Agent.

13-8-104. Filing of statement; appointment of agent.
(a) A foreign building and loan association before transacting any business in this state, directly or indirectly, shall file with the state banking commissioner a statement sworn to by the president and secretary of the association. The statement shall show the name and locality of the association, when organized and an itemized account of its actual financial condition showing assets and liabilities, receipts and disbursements for the past twelve (12) months including an itemized statement of its expense account. The statement shall show the amount and number of shares subscribed, the number cancelled and withdrawn during the past year, the number of shares actually in force at the date of the statement, the amount of real estate loans in force and the total number of shares in force in Wyoming, the amount of money accumulated in Wyoming, and all other information as the state banking commissioner may require.
(b) Foreign associations doing business in this state shall file with the state banking commissioner a certified copy of the laws of the state, territory or government under which it is incorporated, relating to the incorporation of the association and pertaining to the regulation, government or control of associations, both foreign and domestic, and of its charter or articles of incorporation, constitution and bylaws and shall appoint an agent for service of process as provided by laws of the state of Wyoming relating to foreign corporations.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 8 - Foreign Associations › Article 1 - Licensing › Section 13-8-105 - Statement to Be Renewed Annually or as Required.

13-8-105. Statement to be renewed annually or as required.
(a) The statements required of foreign associations shall be renewed annually by March 1 as of the preceding December 31 and shall be made at other times as the state banking commissioner may require. Foreign associations shall pay to the state banking commissioner upon filing each annual statement a fee established by rule and regulation of the commissioner.
(b) If a foreign association fails to file its annual statement by September 1 of each year, the state banking commissioner shall suspend its license until the statement is made and it is deemed to be doing business unlawfully in this state.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 8 - Foreign Associations › Article 1 - Licensing › Section 13-8-106 - Deposit Required.

13-8-106. Deposit required.
(a) Each association coming under the provisions of W.S. 13-8-101 relative to foreign associations, shall deposit with the state banking commissioner fifty thousand dollars ($50,000.00), either in cash, bonds of the United States, any state, county or municipality in this state or mortgages being first liens on improved and productive real estate located within this state of which the liens do not exceed sixty-five percent (65%) of the value of the property accruing to the lien. The securities shall be approved by the state banking commissioner.
(b) The deposit shall be held as security for all claims of residents of this state against the foreign association and liable for all judgment or decrees on it. Securities shall not be released until all shares of the foreign association held by residents of this state have been fully redeemed and its contracts and obligations to residents of this state have been fully discharged. Foreign associations may collect and use the interest on any securities deposited so long as it fulfills its obligations and complies with the provisions of this act. It may also exchange them for other securities of equal value if satisfactory to the state banking commissioner.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 8 - Foreign Associations › Article 1 - Licensing › Section 13-8-107 - Licensing of Agents, Solicitors and Salesmen.

13-8-107. Licensing of agents, solicitors and salesmen.
Each agent, solicitor or salesman, before transacting or soliciting any business in this state for any association, shall procure annually from the state banking commissioner a license as agent, solicitor or salesman for which a fee established by rule and regulation of the commissioner for each license shall be collected and paid to the commissioner. A license expires on June 30 of each year and is subject to revocation by the state banking commissioner for improper business or conduct.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 8 - Foreign Associations › Article 2 - Examination › Section 13-8-201 - Generally.

13-8-201. Generally.
(a) If the laws of the state, under which any foreign association is organized, require annual examinations of the association and are made pursuant to that law, then the foreign association need not be examined under this section but the foreign association shall annually furnish the state banking commissioner a certificate of the proper officer of the other state that he has made an examination pursuant to the laws of that state and that the affairs of the association are in accord with the laws of that state. The state banking commissioner may, however, when he deems it advisable, cause an examination of the foreign association to be made as is required of domestic associations.
(b) If the state banking commissioner has good reason to doubt the solvency of any foreign association doing business in this state and if he is not fully satisfied with the certificate of the president and secretary or other officer, he shall proceed to make an examination of the association.
(c) If the state banking commissioner finds that the foreign association has made fraudulent or untrue statements or that it is conducting its business in an irregular manner, or if he believes that an association in this state is conducting its business fraudulently or is not in good faith carrying out its contracts with its members or stockholders in this state, or if the contracts, shares or savings certificates are sold under misrepresentation or if it appears that the association is otherwise violating the provisions of this act, he shall inform the attorney general who shall then commence proceedings by writ of quo warranto against the association requiring it to show cause why its license to do business in this state should not be revoked.
(d) The state banking commissioner shall collect from foreign state savings and loan associations doing business in this state when examined in association with the supervisory authorities of the foreign state or federal government, an amount equal to the total cost of making an examination and preparing a report and the necessary travel and other expenses incident to making the examination. The examination fees and expenses shall be deposited by the state banking commissioner with the state treasurer and credited to the financial institutions administration account. Expenditures shall be made from the account by warrants drawn by the state auditor, upon vouchers issued and signed by the director or commissioner. Funds from the account shall be expended only to carry out the duties of the commissioner or the state banking board.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 8 - Foreign Associations › Article 2 - Examination › Section 13-8-202 - Liquidation.

13-8-202. Liquidation.
If it is necessary to liquidate the assets within this state of any foreign association under any provisions of the laws of this state or by reason of receivership proceedings instituted in another state, the state banking commissioner shall be appointed receiver for that purpose, without compensation and with the power to appoint assistants as provided in W.S. 13-4-305.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 8 - Foreign Associations › Article 3 - Consumer Information Required › Section 13-8-301 - When Time of Maturity Guaranteed; When Not.

13-8-301. When time of maturity guaranteed; when not.
(a) All foreign building and loan associations doing business in this state that guarantee the time of maturity of their contracts, shares and stock certificates shall show upon their contracts, shares or stock certificates and upon their literature and passbooks the following:
(i) The time of maturity of their contracts, shares or stock certificates;
(ii) The time in months in which a member may withdraw and the withdrawal value of each savings certificate, savings contract or share of stock at the end of the first eighteen (18) months and each six (6) months thereafter, printed on the face or back of them;
(iii) Whether or not they guarantee a maturity in months and days, and if so, the time in months and days.
(b) An association that does not guarantee the time of maturity shall state the approximate time at which shares or savings certificates will mature, based upon the past and present net earnings distributed to the members' book accounts. Maturity shall be calculated on the number of payments specified in their contracts.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 8 - Foreign Associations › Article 3 - Consumer Information Required › Section 13-8-302 - Repayments and Withdrawals.

13-8-302. Repayments and withdrawals.
(a) Borrowers may repay their loans and holders of stock or savings certificates may withdraw their accumulated savings under the same conditions and upon the same terms as are provided for domestic savings and loan associations.
(b) Shares may be withdrawn by giving thirty (30) days notice in writing of the intention to withdraw. The withdrawing shareholder shall be paid in cash, check or bank draft the amount of the withdrawal value of the shares, as shown by the last prior distribution of profits, together with all the dues paid thereon since distribution. Upon withdrawal of shares pledged to the association for stock loan, or stock loans, the association shall first deduct therefrom the indebtedness due the association. Withdrawals shall be paid in the order of their filings except as hereinafter provided, and the secretary or other officer discharging such duties shall enter upon each notice the order and date of filing. Except as hereinafter provided, not more than fifty percent (50%) of the receipts of the association in any month shall be applied to the payment of withdrawals and matured shares without the consent of the board of directors. Whenever an application for withdrawal has been on file or the payment of matured shares demanded and either has remained unpaid for six (6) months, all the receipts of the association in any month from dues, loans repaid, and the proceeds of all other investments shall, after the payment of expenses and general indebtedness, be applied toward the payment of withdrawals and matured stock. The board of directors or the banking commissioner may direct that withdrawals be paid upon a ratable and proportionate basis. After filing the notice of withdrawal provided herein the withdrawing member is entitled to the dividends credited to the same class of shares, until the final payment of his shares is made and membership in the association shall remain unimpaired so long as any accumulation remains to his credit. No officer, director, attorney, clerk or agent of an association and no person in any way interested or concerned in the management of its affairs shall discount or directly or indirectly purchase a share of any association, whether filed for withdrawal or not, except by payment therefor of the withdrawal value of the shares as determined herein. The board of directors of any association may retire all classes of free shares by enforcing withdrawals of the shares. The bylaws shall clearly state the manner in which withdrawals may be enforced. The holders of shares to be withdrawn shall be paid the full value of the shares, including, in such case, their proportion of the contingent fund.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 9 - Bank Related Organizations › Article 2 - Bank Holding Companies › Section 13-9-201 - Examination; Fee.

13-9-201. Examination; fee.
(a) Each bank holding company owning or acquiring the controlling interest of a bank is subject to the inspection of the commissioner. The commissioner or a duly appointed examiner shall visit the offices of the bank holding company whenever the commissioner feels it is necessary or expedient and make a complete and careful examination of the conditions and resources of the bank holding company, the mode of managing its affairs and conducting its business and the safety and prudence of its management as it relates to the policies of the banks which it controls.
(b) The commissioner shall collect from every bank holding company subject to this section an amount equal to the total cost of the examination and all actual and necessary expenses. The fees and expenses collected shall be remitted to the state treasurer as collected and credited to the financial institutions administration account. Expenditures shall be made from the account by warrants drawn by the state auditor, upon vouchers issued and signed by the director or commissioner. Funds from the account shall be expended only to carry out the duties of the commissioner or the state banking board.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 9 - Bank Related Organizations › Article 2 - Bank Holding Companies › Section 13-9-202 - "Controlling Interest" Defined.

13-9-202. "Controlling interest" defined.
As used in W.S. 13-9-201 through 13-9-203 "controlling interest" shall be construed consistently with the provisions of 12 U.S.C. section 1841(a)(2).
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 9 - Bank Related Organizations › Article 2 - Bank Holding Companies › Section 13-9-203 - Financial Responsibility.

13-9-203. Financial responsibility.
The commissioner shall examine the capital and other ownership structure of each bank holding company subject to W.S. 13-9-201 and shall require the same degree of financial responsibility of the bank holding company required by this act of the bank controlled.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 9 - Bank Related Organizations › Article 3 - Interstate Banking - Acquisitions of Banks by Bank Holding Companies › Section 13-9-306 - Scope; Legislative Intent.

13-9-306. Scope; legislative intent.
This article sets forth the conditions under which a company may acquire a Wyoming bank or a Wyoming bank holding company. This article shall not be interpreted to discriminate against out-of-state bank holding companies or against foreign bank holding companies in any manner that would violate 12 U.S.C. section 1842(d) of the Bank Holding Company Act, as amended effective September 29, 1995, by section 101 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, P.L. No. 103-328.