§ 13-10-205 — Removal of officer or director; notice; opportunity for hearing

Wyoming § 13-10-205

• Jurisdiction: Wyoming
• Title 13: Banks, Banking and Finance
• Ch. 10: CRIMES, OFFENSES AND PENALTIES
• Art. 2: ADMINISTRATIVE ENFORCEMENT ACTIONS

Text

(a) After notice and opportunity for hearing, the
commissioner may issue a final order removing an officer or
director of a Wyoming financial institution or a bank holding
company if the officer or director:
(i) Has violated any state statute or rule relating
to financial institutions in performing the duties of his
office;
(ii) Has engaged or participated in any unsafe and
unsound practice in performing the duties of his office; or
(iii) Has been convicted of or has pleaded guilty or
nolo contendere to a crime involving dishonesty or breach of
trust.
(b) Before issuing a final removal order, the commissioner
shall serve notice of intent to issue the order upon the officer
or director. The notice shall be in writing and shall contain
the information required by W.S. 13-10-208(a).
(c) The officer or director may request a hearing on the
proposed order before the board in accordance with W.S.
13-10-208(b). If the officer or director does not request a
hearing in writing within the prescribed time period, the
proposed order shall become a final removal order and the
commissioner shall serve the final order upon the officer or
director.