§ 13-3-403 — Individual indebtedness limitations; exceptions generally

Wyoming § 13-3-403

• Jurisdiction: Wyoming
• Title 13: Banks, Banking and Finance
• Ch. 3: BANKING OPERATIONS
• Art. 4: RESTRICTED TRANSACTIONS

Text

(a) The limitation of W.S. 13-3-402 does not apply to the
following:
(i) Repealed by Laws 1992, ch. 46, § 2.
(ii) Repealed by Laws 1992, ch. 46, § 2.
(iii) Repealed by Laws 1992, ch. 46, § 2.
(iv) Obligations in the form of banker's acceptances
of other banks;
(v) Loans or extensions of credit secured by a
segregated deposit account in the lending bank, if a security
interest has been perfected in the assigned account and, in the
case of a deposit eligible for withdrawal prior to the maturity
of the secured loan, the bank has established internal
procedures which will prevent the release of the security;
(vi) Loans or extensions of credit secured by
certificates of indebtedness, bonds, notes or treasury bills of
the United States or by other debts fully guaranteed as to
principal and interest by the United States government.
Collateral values shall fully secure the loan or extension of
credit at current market value, provided that should market
value decline below that of the loan or extension of credit,
that within ten (10) days of that decline, the limitations of
W.S. 13-3-402 will then apply;
(vii) Loans or extensions of credit made in
connection with a lender credit card, as defined in W.S.
40-14-140(a)(ix) not exceeding five thousand dollars
($5,000.00).
(b) Repealed by Laws 1992, ch. 46, § 2.
(c) Repealed by Laws 1992, ch. 46, § 2.
(d) Repealed By Laws 1998, ch. 106, § 2.