Wyoming § 13-6-204 Reserves

Wyoming Statutes

§ 13-6-204 — Reserves

Wyoming § 13-6-204

Title 13Banks, Banking and Finance

Ch. 6SAVINGS AND LOAN ASSOCIATIONS

Art. 2ORGANIZATIONAL REQUIREMENTS

This text of Wyoming § 13-6-204 (Reserves) 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. § 13-6-204 (2026).

Text

(a)State savings and loan associations, in addition to the par value of their capital, shall set up and maintain reserves as follows:

(i)Except as provided in W.S. 13-7-102, before the declaration of a dividend for any period an association shall transfer an amount equal to at least five percent (5%) of its net earnings to a separate reserve account which shall be set up and maintained for the sole purpose of absorbing losses until the general reserve is equal to at least twelve percent (12%) of the savings liability. In the event that any credit to the general reserve is made in excess of the minimum five percent (5%) requirement, the dollar amount of the excess may be carried over as a credit toward the minimum requirement of any subsequent period. If the general reserve is not equal t

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(a) State savings and loan associations, in addition to
the par value of their capital, shall set up and maintain
reserves as follows:
(i) Except as provided in W.S. 13-7-102, before the
declaration of a dividend for any period an association shall
transfer an amount equal to at least five percent (5%) of its
net earnings to a separate reserve account which shall be set up
and maintained for the sole purpose of absorbing losses until
the general reserve is equal to at least twelve percent (12%) of
the savings liability. In the event that any credit to the
general reserve is made in excess of the minimum five percent
(5%) requirement, the dollar amount of the excess may be carried
over as a credit toward the minimum requirement of any
subsequent period. If the general reserve is not equal to at
least twelve percent (12%) of its savings liability, credits, as
above provided, shall again be made to the general reserve until
it equals at least twelve percent (12%) of its savings
liability. The board of directors may make additional transfers
to other reserve accounts.