Wyoming § 13-2-402 Election; term; vacancies; number

Wyoming Statutes

§ 13-2-402 — Election; term; vacancies; number

Wyoming·Title 13 Banks, Banking and Finance·Ch. 2 ORGANIZATION OF BANKS·Art. 4 DIRECTORS

(a)The initial and elected directors of any bank shall hold office for one (1) year and until their successors are elected and qualified except in cases of death, resignation or removal under the laws of this state. All elections shall be held annually on a day designated by the directors on or before April 30.

(b)If the annual election of directors is not held at the time designated an election may be held within sixty (60) days thereafter following notice by publication in three (3) consecutive issues of a weekly newspaper printed in the county in which the bank is located, or if no newspaper is printed in the county then in a newspaper of general circulation in the state.

(c)Any director who during his tenure as a director becomes insolvent or makes a general assignment of his proper

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(a) The initial and elected directors of any bank shall
hold office for one (1) year and until their successors are
elected and qualified except in cases of death, resignation or
removal under the laws of this state. All elections shall be
held annually on a day designated by the directors on or before
April 30.
(b) If the annual election of directors is not held at the
time designated an election may be held within sixty (60) days
thereafter following notice by publication in three (3)
consecutive issues of a weekly newspaper printed in the county
in which the bank is located, or if no newspaper is printed in
the county then in a newspaper of general circulation in the
state.
(c) Any director who during his tenure as a director
becomes insolvent or makes a general assignment of his property
for the benefit of creditors shall vacate his office.
(d) Vacancies which reduce the board to less than five (5)
members shall be filled within ninety (90) days of the vacancy
by appointment by the remaining directors for the unexpired
term. The board shall notify the banking commissioner of any
vacancy on the board within thirty (30) days of the vacancy.
(e) Changes in the number of directors shall be authorized
by a majority vote of the stockholders to be effective upon
expiration of the current corporate year. The change may become
effective immediately with the consent of the directors and
written notification to the state banking commissioner.