Title 13, Banks, Banking And Finance

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…

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 …

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 …

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 …

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…

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…

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 …

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 …

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 …

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 …

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; (…

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…

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.

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 …

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.

Requirements of state banking commissioner. All other bank records shall be retained for the periods prescribed by the state banking commissioner.

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…

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.

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…

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.

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…

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…

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…

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…