Title 13 — Title 13 — Banks, Banking And Finance
13 chapters · 401 sections in this title.
W.S. § 13-4-101 Change in place of business
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Change in place of business. (a) Any bank may apply in writing to the state banking commissioner for permission to change its place of business to any other municipality in the state. The application shall be accompanied by a fee established by rule and regulation of the commissi…
W.S. § 13-4-102 Amendment to articles of incorporation
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Amendment to articles of incorporation. (a) A bank may amend its articles of incorporation pursuant to the requirements of W.S. 17-16-1001 through
W.S. § 13-4-103 Cancellation of charter
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Cancellation of charter. (a) The charter of any bank organized under this act is forfeited and cancelled in any of the following cases: (i) Upon completion of a liquidation; (ii) Merger which makes unnecessary the continued use of the charter of a bank due to the loss of its corp…
W.S. § 13-4-104 Merger or conversion into state bank; branch banking by merger or consolidation; application fees
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Merger or conversion into state bank; branch banking by merger or consolidation; application fees. (a) Upon approval by the state banking commissioner, banks may be merged to result in a state bank or a national bank may convert into a state bank. The action by a national bank is…
W.S. § 13-4-105 Approval of merger by directors and state banking commissioner; disapproval
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Approval of merger by directors and state banking commissioner; disapproval. (a) A majority of the members of the board of directors of each merging bank shall approve a merger agreement which shall contain: (i) each office; (ii) The name of each merging bank and location of With…
W.S. § 13-4-106 Approval of merger by stockholders
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Approval of merger by stockholders. (a) A merger which is to result in a bank shall be approved by the stockholders of each merging bank by a vote of two-thirds (2/3) of the outstanding voting stock of each class at a meeting called to consider the action which vote shall constit…
W.S. § 13-4-107 Publication of merger notice
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Publication of merger notice. Upon approval of a merger agreement by the stockholders of each merging bank, the elements of the agreement shall be incorporated in a notice of the proposed merger with the effective date of the merger. The notice shall be published once each week f…
W.S. § 13-4-108 When merger effective; certificate of merger
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When merger effective; certificate of merger. (a) A merger which is to result in a state bank, unless otherwise specified in the agreement becomes effective upon filing the executed agreement, copies of the resolutions of the stockholders of each merging bank approving it, an aff…
W.S. § 13-4-109 Conversion of national bank, federally chartered savings bank, out-of-state state bank or state savings and loan into state bank
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Conversion of national bank, federally chartered savings bank, out-of-state state bank or state savings and loan into state bank. (a) A national bank, including a federally chartered savings and loan and a federally chartered savings bank, located in this state which follows the …
W.S. § 13-4-110 Dissenting shareholders
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Dissenting shareholders. (a) The owner of shares of a state bank which were voted against a merger to result in a state bank, or against the conversion of a state bank into a national bank, are entitled to receive their fair market value in cash, if and when the merger or convers…
W.S. § 13-4-111 Effect of merger or conversion
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Effect of merger or conversion. (a) A resulting bank shall be considered the same entity as each merging bank or as the converting bank with all the property, rights, powers, duties and obligations of each merging bank or the converting bank, except as provided by state law in th…
W.S. § 13-4-112 Time for conforming to state law
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Time for conforming to state law. If a merging or converting bank has assets which do not conform to the requirements of state law for the resulting bank or carries on business activities which are not permitted for the resulting bank, the state banking commissioner may permit a …
W.S. § 13-4-113 Transfer of assets and liabilities
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Transfer of assets and liabilities. (a) A bank which is in the process of consolidating with another bank may transfer its assets and liabilities to the other bank upon written consent of the state banking commissioner. (b) Without approval by the state banking commissioner asset…
W.S. § 13-4-114 Changing of state to national bank
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Changing of state to national bank. (a) A bank may merge with, convert into or reorganize as a national bank. The action to be taken by a merging or converting bank and its rights and liabilities and those of its stockholders shall be the same as those prescribed for national ban…
W.S. § 13-4-201 Conditions
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Conditions. (a) A bank is insolvent when any of the following conditions exist: (i) When the actual cash market value of its assets is less than its liabilities; (ii) When it fails to make good its reserve as may be required by this act, or the federal reserve board; or (iii) Whe…
W.S. § 13-4-202 Transactions deemed void
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Transactions deemed void. (a) The following transactions subsequent to any act of insolvency or in contemplation of insolvency with a view to prevent the application of bank assets in the manner prescribed by this act or with a view to the preference of one creditor over another …
W.S. § 13-4-203 All payments of money to either shareholders or Impairment of capital; generally
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All payments of money to either shareholders or Impairment of capital; generally. (a) If the state banking commissioner has reason to believe that the capital of any bank is impaired he shall examine the bank and ascertain the facts. If he finds an impairment of capital, he shall…
W.S. § 13-4-204 Impairment of capital; reduction of capital
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Impairment of capital; reduction of capital. The stockholders of any bank may remove an impairment of capital by reducing the stated capital of the bank if the reductions do not place the capital below the amount required by law to be maintained.
W.S. § 13-4-205 Impairment of capital; failure to restore
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Impairment of capital; failure to restore. If any board of directors fails to comply with any request to restore an impairment of capital for a period of more than thirty (30) days after a request is made by the state banking commissioner, the bank is conclusively presumed to be …
W.S. § 13-4-206 Voluntary liquidation
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Voluntary liquidation. By prior notification to the state banking commissioner the board of directors of a bank may place its assets under the control of the state banking commissioner for liquidation.
W.S. § 13-4-207 Repealed by Laws 1988, ch
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Repealed by Laws 1988, ch. 59, § 1,2.
W.S. § 13-4-301 Notice to state banking commissioner
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Notice to state banking commissioner. No receiver shall be appointed by any court nor shall any assignment for the benefit of creditors be filed in any court within this state for any bank doing business under the laws of this state without notice to the state banking commissione…
W.S. § 13-4-302 Federal deposit insurance corporation as receiver, liquidator or subrogee
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Federal deposit insurance corporation as receiver, liquidator or subrogee. (a) The state banking commissioner may designate the federal deposit insurance corporation to act without bond as receiver or liquidator of any bank whose deposits are insured by the corporation and which …
W.S. § 13-4-303 business
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business. When bank taken possession of; resumption of (a) After taking possession of any bank, the state banking commissioner shall record a certificate that the bank has been taken over by him with the county clerk of the county in which the bank is located. The certificate is …
W.S. § 13-4-304 Application by bank for injunction
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Application by bank for injunction. If any bank deems itself aggrieved by the state banking commissioner taking possession of the bank, it may within ten (10) days after the takeover apply to the district court of the judicial district in which the office of the bank was located …
W.S. § 13-4-305 Appointment of deputy examiners
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Appointment of deputy examiners. The state banking commissioner may appoint special deputy state banking commissioners as agents to assist him in the duty of liquidation and distribution. A certificate of appointment shall be filed in the office of the county clerk of the county …
W.S. § 13-4-306 When bank permitted to continue business
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When bank permitted to continue business. (a) If the state banking commissioner discovers upon taking possession of a bank that the bank is only temporarily embarrassed for want of available funds and that the bank's assets are sufficient to pay its liabilities leaving its capita…
W.S. § 13-4-401 General powers and duties of commissioner
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General powers and duties of commissioner. After taking possession of the bank the state banking commissioner may collect money due the bank, perform acts necessary to preserve its assets and business and shall proceed to liquidate the bank's affairs except as otherwise provided.…
W.S. § 13-4-402 Notice to creditors
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Notice to creditors. The state banking commissioner shall give notice in newspapers as he may direct weekly for three (3) consecutive months, notifying persons who may have claims against the bank to present them to the state banking commissioner and to make legal proof of the cl…
W.S. § 13-4-403 Reports; inspection and filing
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Reports; inspection and filing. (a) After taking possession of the assets of a bank, the state banking commissioner shall make and file the following reports: (i) An inventory of the assets of the bank; (ii) After the deadline for the presentation of claims, a complete list of th…
W.S. § 13-4-404 Rejection of claims; allowance of late claims
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Rejection of claims; allowance of late claims. If the state banking commissioner doubts the validity of any claim he may reject it and serve notice of the rejection upon the claimants either by mail or personally. An affidavit of the service of the notice, which is prima facie ev…
W.S. § 13-4-405 Objection to claims not rejected
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Objection to claims not rejected. Objection to any claim not rejected by the state banking commissioner may be made by any interested party by filing a copy of the objection with the state banking commissioner, who shall present the objection to the district court after giving wr…
W.S. § 13-4-406 Deposit of money collected
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Deposit of money collected. Moneys collected by the state banking commissioner shall be deposited in one (1) or more banks subject to his order and protected by bond in the same manner as deposits of public funds.
W.S. § 13-4-501 Expenses of liquidation first priority
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Expenses of liquidation first priority. The expenses incurred by the state banking commissioner in the liquidation of a bank include the expenses of examiners employed in the liquidation and reasonable attorney fees incurred in the course of the liquidation. Compensation for thes…
W.S. § 13-4-502 Preference to negotiable instruments
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Preference to negotiable instruments. (a) Negotiable instruments issued by a bank as drawee in payment of checks or drafts deposited in any other bank for collection are entitled to preferred payment upon the insolvency of the issuing bank. (b) Negotiable instruments issued by an…
W.S. § 13-4-503 creditors
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creditors. Rights of secured creditors, depositors or The rights of secured creditors in the security pledged or in the capital stock assessment are not affected nor are the rights of depositors or creditors affected on bonds or other contracts with third parties by W.S. 13-4-505…
W.S. § 13-4-504 Reorganization
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Reorganization. (a) Any bank reorganization requiring the consent of depositors, stockholders and other creditors becomes effective only: (i) When the state banking commissioner is satisfied that the plan of reorganization is fair and equitable to all depositors, stockholders and…
W.S. § 13-4-505 assets
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assets. Hearing to be set; order for distribution of (a) Prior to ordering any distribution of the assets of a bank, the district court shall set a hearing, with notice to all creditors and stockholders as the court may direct. (b) The district court upon application of the state…
W.S. § 13-4-506 Dividends; borrowing to pay dividends; court approval needed
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Dividends; borrowing to pay dividends; court approval needed. (a) After the expiration of the time for the presentation of claims, the state banking commissioner may declare dividends out of any remaining funds after payment of expenses. One (1) year from the first publication of…
W.S. § 13-4-601 Appointment; duty of commissioner
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Appointment; duty of commissioner. (a) The state banking commissioner may appoint a conservator for a bank in order to conserve the assets of the bank for depositors and creditors. He may require a sufficient bond and security of the conservator. The conservator shall receive a f…
W.S. § 13-4-602 Withdrawal and deposits
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Withdrawal and deposits. (a) The state banking commissioner may require a conservator of a bank to make available for withdrawal by depositors and payment on a ratable basis to other creditors amounts that may safely be used for this purpose. (b) The state banking commissioner ma…
W.S. § 13-4-603 Termination; authority of commissioner
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Termination; authority of commissioner. The state banking commissioner may terminate the conservatorship and permit the bank to resume the transaction of its business subject to limitations which he may prescribe in the public interest.
W.S. § 13-4-604 Termination; effect on payments and notice
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Termination; effect on payments and notice. (a) Fifteen (15) days after the affairs of a bank have been turned back to its board of directors by the conservator the provisions of W.S. 13-4-602 shall no longer be effective. (b) Before the conservator turns back the affairs of the …
W.S. § 13-4-701 Payment of stockholders
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Payment of stockholders. (a) If the state banking commissioner has paid the full amount of the claim to each depositor and creditor of the bank whose claims have been allowed, has made provision for unpaid deposits and has paid all the expenses of the liquidation, he shall call a…
W.S. § 13-4-702 Assets discovered after liquidation
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Assets discovered after liquidation. If assets are discovered after the liquidation proceeding has closed and in the opinion of the state banking commissioner the cost of distributing the assets would prevent the payment of a dividend exceeding one-half of one percent (0.5%), the…
W.S. § 13-4-703 Unclaimed dividends and deposits
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Unclaimed dividends and deposits. (a) Dividends and deposits remaining in the hands of the state banking commissioner six (6) months after the order for final distribution shall be deposited with the state treasurer who shall hold the dividends in a separate account. The state ba…