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the Wyoming Statutes
2011 Wyoming Statutes
TITLE 13 - BANKS, BANKING AND FINANCE
CHAPTER 2 - ORGANIZATION OF BANKS
13-2-314. Capital notes or debentures; proceeds not part of capital or surplus.
Universal Citation:
WY Stat § 13-2-314 (1997 through Reg Sess)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
(a) The proceeds from the sale of capital notes or debentures shall not be considered a portion of the capital or surplus of the issuing bank nor treated as meeting any requirements, restrictions or conditions relating to the capital or surplus of a bank.
(b) The proceeds from the sale of notes or debentures issued may not be used to reduce or retire outstanding capital stock or surplus.
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