This text of Wyoming § 13-8-201 (Generally) 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.
(a)If the laws of the state, under which any foreign
association is organized, require annual examinations of the
association and are made pursuant to that law, then the foreign
association need not be examined under this section but the
foreign association shall annually furnish the state banking
commissioner a certificate of the proper officer of the other
state that he has made an examination pursuant to the laws of
that state and that the affairs of the association are in accord
with the laws of that state. The state banking commissioner may,
however, when he deems it advisable, cause an examination of the
foreign association to be made as is required of domestic
associations.
(b)If the state banking commissioner has good reason to
doubt the solvency of any foreign association doing
Free access — add to your briefcase to read the full text and ask questions with AI
(a) If the laws of the state, under which any foreign
association is organized, require annual examinations of the
association and are made pursuant to that law, then the foreign
association need not be examined under this section but the
foreign association shall annually furnish the state banking
commissioner a certificate of the proper officer of the other
state that he has made an examination pursuant to the laws of
that state and that the affairs of the association are in accord
with the laws of that state. The state banking commissioner may,
however, when he deems it advisable, cause an examination of the
foreign association to be made as is required of domestic
associations.
(b) If the state banking commissioner has good reason to
doubt the solvency of any foreign association doing business in
this state and if he is not fully satisfied with the certificate
of the president and secretary or other officer, he shall
proceed to make an examination of the association.
(c) If the state banking commissioner finds that the
foreign association has made fraudulent or untrue statements or
that it is conducting its business in an irregular manner, or if
he believes that an association in this state is conducting its
business fraudulently or is not in good faith carrying out its
contracts with its members or stockholders in this state, or if
the contracts, shares or savings certificates are sold under
misrepresentation or if it appears that the association is
otherwise violating the provisions of this act, he shall inform
the attorney general who shall then commence proceedings by writ
of quo warranto against the association requiring it to show
cause why its license to do business in this state should not be
revoked.
(d) The state banking commissioner shall collect from
foreign state savings and loan associations doing business in
this state when examined in association with the supervisory
authorities of the foreign state or federal government, an
amount equal to the total cost of making an examination and
preparing a report and the necessary travel and other expenses
incident to making the examination. The examination fees and
expenses shall be deposited by the state banking commissioner
with the state treasurer and credited to the financial
institutions administration account. Expenditures shall be made
from the account by warrants drawn by the state auditor, upon
vouchers issued and signed by the director or commissioner.
Funds from the account shall be expended only to carry out the
duties of the commissioner or the state banking board.