Title 11 — Title 11 — Agriculture, Livestock And Other Animals
52 chapters · 779 sections in this title.
W.S. § 11-34-101 Definitions
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Definitions. (a) As used in this act: (i) "First mortgage" means first and superior liens on farm lands except as hereinafter provided, the fee simple title to which is in the proposed borrower; (ii) "Farm land," "farm" and "farms" includes: (A) Lands used principally for raising…
W.S. § 11-34-102 Rural credits; establishment and administration; composition of board; power to sue and be sued; officers
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Rural credits; establishment and administration; composition of board; power to sue and be sued; officers. (a) For the purpose of fostering and encouraging agriculture, dairying and livestock raising in Wyoming and the development and improvement of farm lands, there is hereby cr…
W.S. § 11-34-103 Powers and duties generally; employees and financial matters; reports to governor
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Powers and duties generally; employees and financial matters; reports to governor. (a) The board shall establish a system of farm loans, and foreclose or renew any installment payment of the loans as provided by this act. The board may provide for its office, necessary furniture,…
W.S. § 11-34-104 Seal; design
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Seal; design. The board shall obtain and keep a seal. The design of the seal shall be a circle within which appears in the center the word "Seal." Between the lower and upper edges of the circle, properly divided, shall appear the words "Wyoming State Loan and Investment Board," …
W.S. § 11-34-105 Chief executive officer; powers and duties
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Chief executive officer; powers and duties. (a) The director of the office of state lands and investments is the chief executive officer under the direction of the board and has general supervision of the business and employees of the board. (b) The director of the office of stat…
W.S. § 11-34-106 Do and perform such other acts as required by Legal advisor
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Do and perform such other acts as required by Legal advisor. The attorney general is the legal advisor of the board and its officers.
W.S. § 11-34-107 Quorum; loan; votes required; record
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Quorum; loan; votes required; record. A majority of the board constitutes a quorum. No loan shall be made except upon the affirmative vote of not less than three (3) of the members, and the records of the meeting shall show which members voted to approve the loan.
W.S. § 11-34-108 effect
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effect. Loans on lands subject to preexisting liens; The board may loan money on and take as security farm lands subject to liens, charges or assessments for drainage, reclamation or irrigation purposes, payable in installments, not due at the time of making the loan, and the mor…
W.S. § 11-34-109 Purposes for which loans authorized
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Purposes for which loans authorized. (a) Loans may be made for the following agriculture related purposes and no other: (i) To provide for the purchase of farm lands; (ii) To provide for the purchase of equipment as defined by the board, fertilizers and livestock necessary for th…
W.S. § 11-34-110 Limitations on borrowers; due on sale clause; sale of mortgaged land
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Limitations on borrowers; due on sale clause; sale of mortgaged land. (a) No loan shall be made to any person who is not at the time or shortly to become engaged in the cultivation and development of the farm land mortgaged. (b) Loans shall be made only to qualified Wyoming elect…
W.S. § 11-34-111 Application for loan; form; contents; priority of applications
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Application for loan; form; contents; priority of applications. (a) Every applicant for a loan under this act shall apply on a form prescribed by the board. The applicant shall state the object to which the proceeds of the loan will be applied and shall furnish such other informa…
W.S. § 11-34-112 Application for loan; filing; appraisal of land; consideration of written report
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Application for loan; filing; appraisal of land; consideration of written report. Before any mortgage loan is made by the board, the loan application shall be filed with the director of the office of state lands and investments who shall make, or cause to be made, an appraisal an…
W.S. § 11-34-113 Terms and conditions of loans
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Terms and conditions of loans. (a) The board shall make loans only upon the following terms and conditions: (i) The loan shall be secured by a duly recorded first or second mortgage as approved by the board on the farm lands within this state; (ii) Every mortgage shall contain an…
W.S. § 11-34-114 value
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value. Limitation on loans; percentages of appraised (a) No loan secured by a first mortgage shall exceed seventy percent (70%) of the appraised value of the land with the necessary existing improvements, as ascertained and fixed by the board except as provided by W.S. 11-34-117.…
W.S. § 11-34-115 Minimum and maximum amount of loans
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Minimum and maximum amount of loans. The amount of loans to any one (1) borrower shall not be less than ten thousand dollars ($10,000.00) nor more than one million dollars ($1,000,000.00) if all loans to the borrower are made for the purposes of purchasing farm lands or other pur…
W.S. § 11-34-116 Agreement to use loans for purposes specified; reappraisement and additional loan
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Agreement to use loans for purposes specified; reappraisement and additional loan. (a) Every borrower who is granted a loan under this act shall enter into an agreement with the board that if the whole or any portion of his loan is expended for purposes other than those specified…
W.S. § 11-34-117 Rates of interest; length of loan; amount
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Rates of interest; length of loan; amount. (a) The rates of interest on all farm loans shall be equal to the yield on a United States treasury security of the same duration of the loan, whether the money is loaned upon the amortization plan or otherwise. The board may add an addi…
W.S. § 11-34-118 additional fee
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additional fee. Refinancing delinquent loans; payment of costs; The board, whenever it deems necessary for the better protection of permanent funds of the state invested in farm loans, may refinance any delinquent farm mortgage loan and reamortize the loan over not more than thir…
W.S. § 11-34-119 Ultra vires acts of agent
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Ultra vires acts of agent. No loan or mortgage securing the loan shall be impaired or invalidated by any act of any agent of the board in excess of his powers.
W.S. § 11-34-120 Mortgages taken by board; control and disposition of property
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Mortgages taken by board; control and disposition of property. (a) All mortgages and accompanying promissory note or notes taken by the board for monies loaned shall run to state loan and investment board as mortgagee or payee, and all titles to property taken by the board shall …
W.S. § 11-34-121 Mortgagor to pay for recording loan papers; title insurance or abstract required; deposit; additional fee
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Mortgagor to pay for recording loan papers; title insurance or abstract required; deposit; additional fee. The mortgagor shall pay for the recording of his mortgage and other papers connected with the loan which may be required. He shall furnish to the board at his own expense a …
W.S. § 11-34-122 Release of mortgage
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Release of mortgage. When the mortgagor or his successor in interest has fully paid any mortgage, the board shall furnish him with a proper release of the mortgage executed by the president of the board and attested by the director of the office of state lands and investments wit…
W.S. § 11-34-123 Foreclosure proceedings; duty of attorney general; deed in lieu of foreclosure
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Foreclosure proceedings; duty of attorney general; deed in lieu of foreclosure. (a) Any foreclosure of any mortgage provided for by this act shall be made in the usual manner, either by civil action or by advertisement as the board may direct. In cases of foreclosure the attorney…
W.S. § 11-34-124 Interest on defaulted payments and unpaid taxes; agreement to pay; insurance required; use of proceeds; foreclosure permitted
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Interest on defaulted payments and unpaid taxes; agreement to pay; insurance required; use of proceeds; foreclosure permitted. Every borrower shall pay interest on defaulted payments at a rate to be determined by the board not to exceed a ten percent (10%) annual percentage rate.…
W.S. § 11-34-125 W.S. § 11-34-125
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[Repealed or reserved.]
W.S. § 11-34-126 exceptions
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exceptions. Repealed by Laws 1980, ch. 49, § 3. Exemption of property of board from taxation; (a) Except as otherwise provided by subsection (b) of this section, all mortgages, real estate and other property owned by the board is exempt from all general taxes, state, county and m…
W.S. § 11-34-127 Surety bonds; generally
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Surety bonds; generally. Whenever a bond or undertaking is required by this act or by the board to be given, it shall be held to mean a surety bond furnished by a surety company authorized and qualified to do business in this state. Such bonds shall run to the state loan and inve…
W.S. § 11-34-128 Surety bonds; payment of cost
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Surety bonds; payment of cost. The cost of surety bonds provided by this act, furnished by the officers or employees of said board, shall be a part of the general expense of the administration and paid by the board.
W.S. § 11-34-129 Investment of permanent funds
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Investment of permanent funds. The state treasurer, with the approval of the board, is authorized to invest and keep invested in farm loans a sum not to exceed fifty million dollars ($50,000,000.00) of any state permanent funds available for investment, including loans already ma…
W.S. § 11-34-130 penalties
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penalties. Trespass upon lands owned by board prohibited; Whoever knowingly and willfully commits a trespass upon lands owned by the board or upon lands mortgaged to the board, either by cutting down or destroying or carrying away any timber or wood standing or growing thereon or…
W.S. § 11-34-131 thereof
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thereof. Wyoming transportation enterprise account; use (a) The transportation enterprise account is established to be used by the state loan and investment board to finance transportation projects of benefit to the general public as defined in this section. The transportation en…
W.S. § 11-34-201 Authority to issue nonnegotiable debentures; acceptance by treasurer; number; amount; interest; security; terms
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Authority to issue nonnegotiable debentures; acceptance by treasurer; number; amount; interest; security; terms. (a) The board may issue its nonnegotiable debenture bonds in such numbers and amounts as necessary to be deposited with the state treasurer. The state treasurer shall …
W.S. § 11-34-202 Revenue to be credited to an account; use thereof; disposition of excess
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Revenue to be credited to an account; use thereof; disposition of excess. (a) Except as provided by subsection (e) of this section or as otherwise provided by law, the state loan and investment board shall transmit any revenue received to the state treasurer to be credited to a s…
W.S. § 11-34-203 required
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required. Report to governor; separate statement The state loan and investment board shall report to the governor as required by W.S. 9-2-1014, and include a separate statement of all loans obtained from the state treasurer by the issuance of bonds as herein provided, and showing…
W.S. § 11-34-301 Repealed by Laws 2019, ch
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Repealed by Laws 2019, ch. 35, § 2.
W.S. § 11-34-302 Repealed by Laws 2019, ch
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Repealed by Laws 2019, ch. 35, § 2.
W.S. § 11-34-303 Repealed by Laws 2016, ch
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Repealed by Laws 2016, ch. 110, § 3.
W.S. § 11-34-304 Repealed by Laws 2016, ch
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Repealed by Laws 2016, ch. 110, § 3.
W.S. § 11-34-305 Repealed by Laws 2016, ch
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Repealed by Laws 2016, ch. 110, § 3.
W.S. § 11-34-306 Repealed by Laws 2019, ch
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Repealed by Laws 2019, ch. 35, § 2.