Wyoming § 9-7-125 Subsidiary corporation; economic development
loans

Wyoming Statutes

§ 9-7-125 — Subsidiary corporation; economic development loans

Wyoming·Title 09 Administration of the Government·Ch. 7 COMMUNITY DEVELOPMENT, AND SCIENCE, TECHNOLOGY·Art. 1 COMMUNITY DEVELOPMENT AUTHORITY

(a)The authority may charter a subsidiary corporation for the purpose of managing or originating economic development loans subject to the following conditions:

(i)The directors of the authority shall also be directors of the subsidiary corporation and are entitled to the same compensation and expenses for such service as provided by W.S. 9-7-104(b) so long as the services do not occur on the same day;

(ii)The subsidiary corporation shall not take equity positions through stock ownership in any corporation or association;

(iii)The subsidiary corporation is subject to the audit requirements of W.S. 9-7-116 and the financial supervision requirements of W.S. 9-7-105(b);

(iv)The subsidiary corporation shall not acquire or originate any economic development loans on and after the effective

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(a) The authority may charter a subsidiary corporation for
the purpose of managing or originating economic development
loans subject to the following conditions:
(i) The directors of the authority shall also be
directors of the subsidiary corporation and are entitled to the
same compensation and expenses for such service as provided by
W.S. 9-7-104(b) so long as the services do not occur on the same
day;
(ii) The subsidiary corporation shall not take equity
positions through stock ownership in any corporation or
association;
(iii) The subsidiary corporation is subject to the
audit requirements of W.S. 9-7-116 and the financial supervision
requirements of W.S. 9-7-105(b);
(iv) The subsidiary corporation shall not acquire or
originate any economic development loans on and after the
effective date of this act;
(v) This section is retroactive and prospective in
its application.

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