Wyoming § 9-4-805 Deposit of state money in approved depositories;
other acceptable security

Wyoming Statutes

§ 9-4-805 — Deposit of state money in approved depositories; other acceptable security

Wyoming § 9-4-805

Title 09Administration of the Government

Ch. 4PUBLIC FUNDS

Art. 8DEPOSITS AND DEPOSITORIES

This text of Wyoming § 9-4-805 (Deposit of state money in approved depositories; other acceptable security) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 9-4-805 (2026).

Text

Instead of furnishing a surety bond as security for the
deposits, a depository may pledge any bonds, debentures and
other securities in which the state treasurer may by law invest
and in an amount equal, at least, to the maximum amount of money
at any time to be deposited with the bank or credit union. The
bonds, debentures and other securities so pledged shall have a
market value at least equal to the amount of the deposit. In
addition, any depository may furnish as security for the deposit
letters of credit issued by any Federal Home Loan Bank in such
form as approved by the state treasurer of Wyoming or pledge
conventional first mortgages of Wyoming real estate and notes
connected with the mortgages at a ratio of one and one-half to
one (1.5:1) of the value of public funds secured by th

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Instead of furnishing a surety bond as security for the
deposits, a depository may pledge any bonds, debentures and
other securities in which the state treasurer may by law invest
and in an amount equal, at least, to the maximum amount of money
at any time to be deposited with the bank or credit union. The
bonds, debentures and other securities so pledged shall have a
market value at least equal to the amount of the deposit. In
addition, any depository may furnish as security for the deposit
letters of credit issued by any Federal Home Loan Bank in such
form as approved by the state treasurer of Wyoming or pledge
conventional first mortgages of Wyoming real estate and notes
connected with the mortgages at a ratio of one and one-half to
one (1.5:1) of the value of public funds secured by them. A
pledge of collateral as security for the deposit of public funds
shall be accompanied by a written assignment from the depository
vesting legal title thereto to the state and by any other
instruments required by the state treasurer. The assignment
shall provide that the depository shall pay over deposited
public funds and accrued interest thereon to the state
treasurer, or his authorized deputy, upon check, order or demand
in accordance with this article. The assignment shall also
provide that the state has the authority, if the depository
defaults, to sell all collateral necessary to realize the full
amount of deposited public funds and interest accrued thereon.
The interest on bonds, debentures and other securities, so
pledged, when paid shall be remitted to the bank or credit union
so pledging them, as long as it is not in default.