§ 13-9-308 — Permitted acquisitions

(a) Except as otherwise expressly permitted by federal
law, no company may acquire a Wyoming bank holding company or a
Wyoming bank without the prior approval of the commissioner.
(b) The prohibition in subsection (a) of this section
shall not apply where the acquisition is made:
(i) Solely for the purpose of facilitating an
acquisition otherwise permitted under this article;
(ii) In a transaction arranged by the commissioner or
another bank supervisory agency to prevent the insolvency or
closing of the acquired bank, provided the appropriate
supervisory officials determine the acquisition will protect the
shareholders and depositors of the acquired bank;
(iii) In a transaction in which a bank forms its own
bank holding company, if the ownership rights of the former bank
shareholders are substantially similar to those of the holders
of the ownership interests of the new bank holding company.
(c) In a transaction specified in subsection (b) of this
section, the parties shall give written notice to the
commissioner at least fifteen (15) days before the effective
date of the acquisition, unless a shorter period of notice is
required under applicable federal law.