There Is a Newer Version
of
the Wyoming Statutes
2012 Wyoming Statutes
TITLE 13 - BANKS, BANKING AND FINANCE
CHAPTER 3 - BANKING OPERATIONS
13-3-102. Loans to executive officers, directors, principal shareholders or others with ownership interests.
Universal Citation:
WY Stat § 13-3-102 (through 2012)
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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.
No bank shall loan any of its funds to executive officers, directors or to any person owning or controlling ten percent (10%) or more of the bank's or its bank holding company's voting ownership interests, or to any person in which any of the executive officers, directors or owners or controllers are interested except upon the written application of the person and then only with the prior approval of a majority of the board of directors. The approval of the loan, if allowed, shall be made a part of the records of the directors' meeting.
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