Wyoming § 13-6-402 Directors to relieve unsound condition; duty

Wyoming Statutes

§ 13-6-402 — Directors to relieve unsound condition; duty

Wyoming § 13-6-402

Title 13Banks, Banking and Finance

Ch. 6SAVINGS AND LOAN ASSOCIATIONS

Art. 4LIQUIDATION

This text of Wyoming § 13-6-402 (Directors to relieve unsound condition; duty) 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. § 13-6-402 (2026).

Text

If it appears that the affairs of the association are in fact in
an unsound condition, the state banking commissioner shall at
once notify in writing the board of directors of the association
of his decision, giving them twenty (20) days in which to
restore the affairs of the association to a sound condition.
Meanwhile, the state banking commissioner shall remain in charge
of all books, records and assets of the association. He shall
attend or be represented at all directors' and stockholders'
meetings and suggest steps necessary to restore the association
to a sound condition.

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If it appears that the affairs of the association are in fact in
an unsound condition, the state banking commissioner shall at
once notify in writing the board of directors of the association
of his decision, giving them twenty (20) days in which to
restore the affairs of the association to a sound condition.
Meanwhile, the state banking commissioner shall remain in charge
of all books, records and assets of the association. He shall
attend or be represented at all directors' and stockholders'
meetings and suggest steps necessary to restore the association
to a sound condition.