2012 Wyoming Statutes
TITLE 13 - BANKS, BANKING AND FINANCE
CHAPTER 7 - SAVINGS AND LOAN OPERATIONS
13-7-304. Withdrawals.

(a) Any savings or investment account holder may at any time present a written application for withdrawal of all or any part of his accounts. No member shall have on file in any one association more than one (1) application at a time. Every application shall request immediate withdrawal of a stated amount in accordance with this section. Any member may cancel his application at any time in whole or in part by a writing. Each association shall pay or number, date, and file in the order of actual receipt every withdrawal application. Withdrawals shall be made in the order of actual receipt of applications except as provided in this section. Upon withdrawal, an association shall pay the value of any account, as determined by the board of directors, but not in excess of the withdrawal value. If any association so elects, it may at any time pay in full each application as presented. It shall not, however, pay some in full unless it pays every application on file in full except by paying all applications on file on the rotation plan prescribed in this section. The board of directors shall, however, have an absolute right to pay upon any application not exceeding two hundred dollars ($200.00) to any one (1) account holder in any one (1) month in any order. No association can obligate itself to pay withdrawals on any plan other than as provided in this section. Account holders who have filed written application for withdrawal shall remain account members so long as their applications remain on file. No dividends shall be declared upon that portion of an account which has been noticed for withdrawal which for dividend purposes is required to be deducted from the latest previous additions to the account so long as the application is on file.

(b) The rotation plan of payment of withdrawals is as follows:

(i) On the first day of each month, each application which has been on file since the first day of the preceding month and which is reached in order shall be paid one thousand dollars ($1,000.00) on account, or in full if the amount noticed for withdrawal or the unpaid balance of the application is less than one thousand dollars ($1,000.00). Each application for more than one thousand dollars ($1,000.00) so paid shall be deemed refiled as if filed on that day. The limited payment on the first day of each month and renumbering shall take place on the first day of each subsequent month as long as there are applications unpaid. At least one-third (1/3) of the receipts of an association from its members during the preceding calendar month shall be applied on the first day of each month to the payment of applications which have been on file since the first day of the preceding month. Any association may apply to withdrawals an amount larger than one-third (1/3) of the receipts, but cannot obligate itself to do so. When an application to withdraw is reached for payment as above provided, a written notice shall be sent to the applicant by mail at his last address recorded on the books and unless the applicant applies in person or in writing for withdrawal within thirty (30) days from the date of the notice, no payment on account of the application shall be made and the application shall be cancelled.