Title 13 — Title 13 — Banks, Banking And Finance
13 chapters · 401 sections in this title.
W.S. § 13-3-104 Repealed By Laws 1999, ch
0.0K chars
Repealed By Laws 1999, ch. 42, § 3.
W.S. § 13-3-201 Acquisition of real estate
2.7K chars
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
2.0K chars
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
1.2K chars
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 activities
3.6K chars
activities. Operating subsidiaries; application; fee; new (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
0.4K chars
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
0.4K chars
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
0.3K chars
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
2.1K chars
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
0.7K chars
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
1.4K chars
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 generally
1.5K chars
generally. Individual indebtedness limitations; exceptions (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
0.7K chars
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
0.9K chars
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
0.3K chars
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
0.4K chars
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
0.2K chars
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
0.1K chars
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
0.8K chars
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
0.2K chars
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
0.3K chars
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. § 13-3-601 Renumbered as § 2-1-203 by Laws 1979, ch
0.0K chars
Renumbered as § 2-1-203 by Laws 1979, ch. 142, §
W.S. § 13-3-602 Certified checks
0.2K chars
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
0.6K chars
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
0.6K chars
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
2.2K chars
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
0.8K chars
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…
W.S. § 13-3-704 Repealed By Laws 1999, ch
0.0K chars
Repealed By Laws 1999, ch. 42, § 3.
W.S. § 13-4-101 Change in place of business
1.6K chars
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
0.1K chars
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
0.4K chars
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
1.6K chars
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
3.0K chars
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
1.2K chars
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
0.4K chars
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
0.9K chars
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
3.7K chars
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
1.6K chars
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
0.7K chars
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
0.3K chars
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
0.5K chars
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
0.7K chars
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
0.5K chars
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
0.7K chars
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
2.6K chars
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
0.2K chars
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
0.4K chars
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
0.2K chars
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
0.0K chars
Repealed by Laws 1988, ch. 59, § 1,2.
W.S. § 13-4-301 Notice to state banking commissioner
0.6K chars
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…