Title 13, Title 13 — Banks, Banking And Finance
12 chapters · 326 sections in this title.
W.S. § 13-3-101 Bond required of officers and employees
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Bond required of officers and employees. The state banking commissioner may require all active officers and employees of banks to furnish a fidelity bond in duplicate in an amount to be fixed by the state banking commissioner and written by a surety company authorized to do busin…
W.S. § 13-3-102 Loans to executive officers, directors, principal shareholders or others with ownership interests
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Loans to executive officers, directors, principal shareholders or others with ownership interests. No bank shall loan any of its funds to executive officers, directors or to any person owning or controlling ten percent (10%) or more of the bank's or its bank holding company's vot…
W.S. § 13-3-103 Preference to depositors or creditors prohibited; exceptions
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Preference to depositors or creditors prohibited; exceptions. A bank shall not give preference to any depositor or creditor by pledging the assets of the bank as security except that the bank may qualify as depository for United States deposits, postal savings funds or other publ…
W.S. § 13-3-201 Acquisition of real estate
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Acquisition of real estate. (a) No bank shall purchase, hold, convey or lease real estate except for the following purposes: (i) Real estate and buildings necessary to transact the business of a bank including its banking offices and other premises in the same buildings to rent a…
W.S. § 13-3-202 Investment in stock of other corporations
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Investment in stock of other corporations. (a) No bank shall invest any of its assets in the capital stock of any other corporation except as follows: (i) In the capital stock of a federal reserve bank; (ii) In stock acquired to save a loss on a preexisting debt which shall be so…
W.S. § 13-3-203 Borrowing
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Borrowing. (a) A bank may borrow on and pledge assets of the bank as security for temporary purposes. If it appears that any bank is habitually borrowing for the purpose of reloaning the state banking commissioner may require the bank to pay off the borrowed money. A bank is not …
W.S. § 13-3-204 Operating subsidiaries; application; fee; new activities
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Operating subsidiaries; application; fee; new activities. (a) With prior written approval of the commissioner, a bank may purchase for its own account the stock in a corporation to perform functions that are authorized for the bank or that are usual or incidental to the business …
W.S. § 13-3-301 Losses to be charged to surplus fund
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Losses to be charged to surplus fund. Any losses sustained by a bank in excess of its undivided profits shall be charged to its surplus fund. The surplus fund shall subsequently be reimbursed from earnings. No dividends shall be declared or paid by any bank in excess of one-half …
W.S. § 13-3-302 Bad debts
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Bad debts. All demand and matured debts due to any bank on which interest has not been paid for a period of at least twelve (12) months, unless in the judgment of the state banking commissioner the debts are well secured or are in the process of collection, are bad debts and shal…
W.S. § 13-3-303 Value of stocks held
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Value of stocks held. All investments in any bank in stocks of any corporation authorized by W.S. 13-3-202 shall be entered on the books of the bank at a sum not to exceed the actual cost to the bank. The state banking commissioner may require an asset to be charged down to its a…
W.S. § 13-3-304 Dividends
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Dividends. (a) The board of directors may, quarterly, semiannually or annually, declare a dividend of so much of the net profits of the bank as they judge proper, except that no dividends shall be declared until the surplus fund of the bank equals its common capital unless there …
W.S. § 13-3-401 Real estate loans
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Real estate loans. (a) Any bank may make real estate loans upon real estate secured by a mortgage, deed of trust or other instrument of similar security which comprises a lien upon the secured property. A bank may make a real estate loan or purchase these obligations in whole or …
W.S. § 13-3-402 Individual indebtedness limitations; generally
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Individual indebtedness limitations; generally. (a) Except as otherwise provided, no bank shall permit any person, firm, partnership, association or corporation to become indebted at origination to the bank in an amount exceeding twenty percent (20%) of the amount of the capital …
W.S. § 13-3-403 Individual indebtedness limitations; exceptions generally
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Individual indebtedness limitations; exceptions generally. (a) The limitation of W.S. 13-3-402 does not apply to the following: (i) Repealed by Laws 1992, ch. 46, § 2. (ii) Repealed by Laws 1992, ch. 46, § 2. (iii) Repealed by Laws 1992, ch. 46, § 2. (iv) Obligations in the form …
W.S. § 13-3-404 Individual indebtedness limitations; exceptions generally; federal obligations
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Individual indebtedness limitations; exceptions generally; federal obligations. (a) W.S. 13-3-402 and 13-3-403 do not restrict the making of loans in excess of the limitations to the extent that the repayment of principal and interest is: (i) An obligation of the United States; (…
W.S. § 13-3-405 Acceptance of drafts and bills of exchange
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Acceptance of drafts and bills of exchange. (a) Drafts or bills of exchange, drawn upon a bank having not more than six (6) months' sight to run, may be accepted by a bank. Letters of credit may be issued by a bank only if they are based upon actual commercial or agricultural tra…
W.S. § 13-3-501 Retention generally
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Retention generally. Each bank in this state shall retain its business records for the periods prescribed by W.S. 13-3-501 through 13-3-507. W.S. 13-3-501 through 13-3-507 apply to national banks and trust companies where not in conflict with federal law, rule or regulation.
W.S. § 13-3-502 Permanent records
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Permanent records. Each bank shall permanently retain the minute books of meetings of its stockholders and directors, its capital stock ledger and capital stock certificate ledger or stubs, its general ledger (or the record kept by the bank in lieu thereof), its daily statements …
W.S. § 13-3-503 Records retained 3 years
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Records retained 3 years. All bank records pertaining to other parties such as safekeeping and escrow records shall be retained for three (3) years after the completion of the transactions pertaining to the records.
W.S. § 13-3-504 Requirements of state banking commissioner
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Requirements of state banking commissioner. All other bank records shall be retained for the periods prescribed by the state banking commissioner.
W.S. § 13-3-505 State banking commissioner to issue rules
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State banking commissioner to issue rules. (a) The state banking commissioner shall issue rules classifying records kept by banks and prescribing the periods for which records of each class shall be retained. The rules shall be reviewed and considered for revision at least once e…
W.S. § 13-3-506 Duty to produce
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Duty to produce. After the period prescribed for the retention of records of its class the bank has no duty to produce the record in any action or proceeding if the records have been disposed of.
W.S. § 13-3-507 Reproduction
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Reproduction. Any bank may cause any of its records including those held by it as a fiduciary, to be photographed, microfilmed or otherwise reproduced in permanent form. Any photograph or reproduction has the same effect as the original and shall be admitted in evidence in lieu o…
W.S. § 13-3-602 Certified checks
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Certified checks. The amount of any check certified shall immediately be charged to the drawer's account and credited to a certified check account from which the check is payable.
W.S. § 13-3-603 Nonpayment of instrument when person influenced by alcohol or drugs
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Nonpayment of instrument when person influenced by alcohol or drugs. Any bank may refuse to pay any check, draft or order upon it if the officers or owners of the bank have reason to believe that the person signing or endorsing the instrument is or was so under the influence of a…
W.S. § 13-3-701 Reports to state banking commissioner
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Reports to state banking commissioner. (a) Repealed By Laws 1998, ch. 64, § 2. (b) Repealed By Laws 1998, ch. 64, § 2. (c) Repealed By Laws 1998, ch. 64, § 2. (d) The state banking commissioner may call for special reports verified under oath from any bank at any time as necessar…
W.S. § 13-3-702 Inspection of banks; fees
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Inspection of banks; fees. (a) Every bank is subject to the inspection of the state banking commissioner. The state banking commissioner or a duly appointed examiner shall visit and examine each bank as often as the commissioner deems necessary and at least as frequently as requi…
W.S. § 13-3-703 Exchange with federal deposit insurance corporation and federal reserve system authorized
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Exchange with federal deposit insurance corporation and federal reserve system authorized. (a) The state banking commissioner may accept examinations of banks by or reports to the federal deposit insurance corporation or federal reserve system in lieu of examinations or reports r…