Wyoming Statutes
§ 40-31-106 — Wyoming stable token accounts
(a)The Wyoming stable token trust account is created. The
commission shall deposit all funds received for the issuance of
Wyoming stable tokens into the account. Funds within the account
received from the sale of Wyoming stable tokens shall be held in
trust to support the redemption of Wyoming stable tokens, and
shall not be expended for any other purpose but shall be
expended to redeem Wyoming stable tokens. The commission shall
invest funds within the account exclusively in cash, United
States treasury securities with a maturity of three hundred
sixty-five (365) days or less or United States treasury security
repurchase agreements with a term of thirty (30) days or less.
By creation of this trust, the state does not create any
fiduciary duty to token holders. Investment earnings generat
Free access — add to your briefcase to read the full text and ask questions with AI
Wyoming § 40-31-106 (Wyoming stable token accounts) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
10
§ 40-31-101
Short title§ 40-31-102
Definitions§ 40-31-103
Wyoming stable token commission§ 40-31-104
Wyoming stable token value; limitations§ 40-31-105
Powers of the commission§ 40-31-106
Wyoming stable token accounts§ 40-31-107
Redemption§ 40-31-108
Notice of limitations§ 40-31-109
Limitations on liability§ 40-31-110
Bidding requirements; contract procedures