Section 11-34-102 – Rural Credits; Establishment and Administration; Composition of Board; Power to Sue and Be Sued; Officers.
11-34-102. Rural credits; establishment and administration; composition of board; power to sue and be sued; officers. (a) For the purpose of fostering and encouraging agriculture, dairying and livestock raising in Wyoming and the development and improvement of farm lands, there is hereby created and established a system of rural credits to be administered by the […]
Section 11-34-103 – Powers and Duties Generally; Employees and Financial Matters; Reports to Governor.
11-34-103. Powers and duties generally; employees and financial matters; reports to governor. (a) The board shall establish a system of farm loans, and foreclose or renew any installment payment of the loans as provided by this act. The board may provide for its office, necessary furniture, fixtures, stationery and supplies, adopt rules and regulations proper […]
Section 11-34-104 – Seal; Design.
11-34-104. Seal; design. The board shall obtain and keep a seal. The design of the seal shall be a circle within which appears in the center the word “Seal.” Between the lower and upper edges of the circle, properly divided, shall appear the words “Wyoming State Loan and Investment Board,” “State of Wyoming.”
Section 11-34-105 – Chief Executive Officer; Powers and Duties.
11-34-105. Chief executive officer; powers and duties. (a) The director of the office of state lands and investments is the chief executive officer under the direction of the board and has general supervision of the business and employees of the board. (b) The director of the office of state lands and investments shall: (i) Keep […]
Section 11-34-106 – Legal Advisor.
11-34-106. Legal advisor. The attorney general is the legal advisor of the board and its officers.
Section 11-34-107 – Quorum; Loan; Votes Required; Record.
11-34-107. Quorum; loan; votes required; record. A majority of the board constitutes a quorum. No loan shall be made except upon the affirmative vote of not less than three (3) of the members, and the records of the meeting shall show which members voted to approve the loan.
Section 11-34-108 – Loans on Lands Subject to Preexisting Liens; Effect.
11-34-108. Loans on lands subject to preexisting liens; effect. The board may loan money on and take as security farm lands subject to liens, charges or assessments for drainage, reclamation or irrigation purposes, payable in installments, not due at the time of making the loan, and the mortgage taken to secure the loan shall, notwithstanding […]
Section 11-34-109 – Purposes for Which Loans Authorized.
11-34-109. Purposes for which loans authorized. (a) Loans may be made for the following agriculture related purposes and no other: (i) To provide for the purchase of farm lands; (ii) To provide for the purchase of equipment as defined by the board, fertilizers and livestock necessary for the proper and reasonable operation of the mortgaged […]
Section 11-34-110 – Limitations on Borrowers; Due on Sale Clause; Sale of Mortgaged Land.
11-34-110. Limitations on borrowers; due on sale clause; sale of mortgaged land. (a) No loan shall be made to any person who is not at the time or shortly to become engaged in the cultivation and development of the farm land mortgaged. (b) Loans shall be made only to qualified Wyoming electors or to a […]
Section 11-34-111 – Application for Loan; Form; Contents; Priority of Applications.
11-34-111. Application for loan; form; contents; priority of applications. (a) Every applicant for a loan under this act shall apply on a form prescribed by the board. The applicant shall state the object to which the proceeds of the loan will be applied and shall furnish such other information as required by the board. (b) […]