2018 Wyoming Statutes
TITLE 13 - BANKS, BANKING AND FINANCE
CHAPTER 5 - TRUST COMPANIES
SECTION 13-5-114 - Order declaring trust company properly wound up and dissolved.
13-5-114. Order declaring trust company properly wound up and dissolved.
(a) Upon the completion of the liquidation of a trust company pursuant to W.S. 13-5-113, the commissioner shall petition the court for an order declaring the trust company properly wound up and dissolved.
(b) After notice and hearing, as ordered by the court, if any, the court shall enter an order declaring the trust company wound up and dissolved. The order shall, to the extent applicable, declare the following:
(i) The trust company has been properly wound up;
(ii) All known assets of the trust company have been distributed pursuant to W.S. 13-5-113;
(iii) The trust company is dissolved;
(iv) If there are known debts or liabilities, describe the provision made for their payment, setting forth all information necessary to enable the creditor or other person to whom payment is to be made to appear and claim payment of the debt or liability.
(c) The order shall confirm a plan by the commissioner for the disposition or maintenance of any remaining real or personal property or other trust company assets. The plan shall include written notice to all known owners or beneficiaries of the assets, to be sent by first class mail to each individual's address as shown on the records of the trust company.
(d) The court may enter additional orders and grant further relief as it determines appropriate upon the evidence submitted.
(e) Upon the issuance of the order declaring the trust company dissolved, the existence of the trust company as either a corporation or a limited liability company shall cease, except for purposes of any necessary additional winding up. The commissioner shall promptly file a copy of the order, certified by the clerk of the court, with the secretary of state.
