There Is a Newer Version
of
the Wyoming Statutes
2012 Wyoming Statutes
TITLE 13 - BANKS, BANKING AND FINANCE
CHAPTER 4 - REORGANIZATION OF BANKS
13-4-505. Hearing to be set; order for distribution of assets.
Universal Citation:
WY Stat § 13-4-505 (through 2012)
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on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
(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 banking commissioner may order the distribution of the assets of any bank which have come into the hands of the state banking commissioner for liquidation. The disposition shall be in conformity to any agreement of reorganization or sale of assets agreed to by the holders of seventy-five percent (75%) of the unsecured direct obligations of the bank. The court may make any modifications necessary to insure the equitable distribution of the assets of the bank.
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