§ 13-3-202 — Investment in stock of other corporations

Wyoming § 13-3-202

• Jurisdiction: Wyoming
• Title 13: Banks, Banking and Finance
• Ch. 3: BANKING OPERATIONS
• Art. 2: RESTRICTED OPERATIONS

Text

(a) No bank shall invest any of its assets in the capital
stock of any other corporation except as follows:
(i) In the capital stock of a federal reserve bank;
(ii) In stock acquired to save a loss on a
preexisting debt which shall be sold within twelve (12) months
from the date acquired unless a longer period of time is
permitted by the state banking commissioner;
(iii) In the stock of a small business investment
company as defined by the federal Small Business Investment Act
of 1958 as amended;
(iv) In the stock of the federal national mortgage
association;
(v) In the stock of a corporation formed solely for
the purpose of making agricultural loans and borrowing or
discounting loans from banks and associations of the farm credit
system as authorized in the Farm Credit Act of 1971 (P.L.
92-181), subject to such conditions and limitations as the state
banking commissioner may prescribe;
(vi) In the stock of a bank service corporation
pursuant to W.S. 13-9-101;
(vii) In mutual fund shares whose underlying
securities consist solely of obligations of the United States
treasury or other federal agency obligations;
(viii) In the stock of a federal home loan bank
established under the Federal Home Loan Bank Act;
(ix) In the stock of an operating subsidiary in
accordance with W.S. 13-3-204;
(x) In the stock of a bank engaged exclusively in
providing services to state or national banks or their
subsidiary corporations, bank holding companies or their
subsidiary corporations, or other financial institutions,
hereinafter referred to as a "banker's bank," subject to the
following limitations:
(A) The investing bank may not acquire or retain
ownership, control or power to vote more than five percent (5%)
of any class of voting stock or securities of a banker's bank;
and
(B) The investing bank may not invest in a
banker's bank more than ten percent (10%) of its capital stock
and paid in and unimpaired surplus.