Wyoming Statutes
§ 13-4-505 — Hearing to be set; order for distribution of assets
Wyoming·Title 13 Banks, Banking and Finance·Ch. 4 REORGANIZATION OF BANKS·Art. 5 PREFERENCES, DISPOSITION OF ASSETS, REORGANIZATION
(a)Prior to ordering any distribution of the assets of a
bank, the district court shall set a hearing, with notice to all
creditors and stockholders as the court may direct.
(b)The district court upon application of the state
banking commissioner may order the distribution of the assets of
any bank which have come into the hands of the state banking
commissioner for liquidation. The disposition shall be in
conformity to any agreement of reorganization or sale of assets
agreed to by the holders of seventy-five percent (75%) of the
unsecured direct obligations of the bank. The court may make any
modifications necessary to insure the equitable distribution of
the assets of the bank.
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Nearby Sections
15
§ 13-4-101
Change in place of business§ 13-4-102
Amendment to articles of incorporation§ 13-4-103
Cancellation of charter§ 13-4-104
Merger or conversion into state bank; branch
banking by merger or consolidation; application fees§ 13-4-106
Approval of merger by stockholders§ 13-4-107
Publication of merger notice§ 13-4-110
Dissenting shareholders§ 13-4-111
Effect of merger or conversion§ 13-4-112
Time for conforming to state law§ 13-4-113
Transfer of assets and liabilities§ 13-4-114
Changing of state to national bank§ 13-4-201
Conditions