Section 13-10-205 – Removal of Officer or Director; Notice; Opportunity for Hearing.
13-10-205. Removal of officer or director; notice; opportunity for hearing. (a) After notice and opportunity for hearing, the commissioner may issue a final order removing an officer or director of a Wyoming financial institution or a bank holding company if the officer or director: (i) Has violated any state statute or rule relating to financial […]
Section 13-10-206 – Temporary Suspension Order; Stay of Order; Enforcement.
13-10-206. Temporary suspension order; stay of order; enforcement. (a) If the commissioner believes the actions of the officer or director pose an immediate threat to the safety and soundness of a Wyoming financial institution or to the interests of the depositors, creditors or shareholders of the financial institution, the commissioner may suspend the officer or […]
Section 13-10-207 – Civil Penalties; Amount; Factors; Notice; Payment.
13-10-207. Civil penalties; amount; factors; notice; payment. (a) In addition to other administrative or criminal remedies authorized in this act, the commissioner, after notice and opportunity for hearing, may assess a civil penalty against a Wyoming financial institution, an officer or director of a Wyoming financial institution or a bank holding company if the Wyoming […]
Section 13-10-208 – Procedures for Enforcement Actions; Service of Notice; Content of Orders; Contested Case Proceedings; Appeal.
13-10-208. Procedures for enforcement actions; service of notice; content of orders; contested case proceedings; appeal. (a) All notices and orders required to be served by the commissioner under this article shall be served by certified mail return receipt requested to the last known address of the Wyoming financial institution, the bank holding company or officer […]
Section 13-10-209 – Prompt Corrective Action; Definition.
13-10-209. Prompt corrective action; definition. In addition to the other administrative enforcement actions authorized in this act, the commissioner shall take prompt corrective action against a Wyoming financial institution as necessary to protect the safety and soundness of the Wyoming financial institution in the event the financial institution becomes critically undercapitalized. For purposes of this […]
Section 13-10-204 – Temporary Cease and Desist Order; Wyoming Financial Institutions; Bank Holding Companies; Service.
13-10-204. Temporary cease and desist order; Wyoming financial institutions; bank holding companies; service. (a) If the commissioner believes the actions of a Wyoming financial institution or of any officer, director, employee or agent of the institution pose an immediate threat to the safety and soundness of the financial institution or to the interests of the […]
Section 13-10-201 – Definitions.
13-10-201. Definitions. (a) As used in this article: (i) “Bank holding company” means a bank holding company as defined in W.S. 13-1-101 which owns or controls a Wyoming financial institution; (ii) “Critically undercapitalized” means the paid-in capital, retained earnings and undivided profits of the Wyoming financial institution are less than two percent (2%) of the […]
Section 13-10-202 – Informal Enforcement Actions; Joint Enforcement Actions.
13-10-202. Informal enforcement actions; joint enforcement actions. (a) Notwithstanding any other provision of law, the commissioner may enforce the provisions of this act by informal actions such as board resolutions, letter agreements, memoranda of understanding or supervisory agreements. (b) Notwithstanding any other provision of law, the commissioner may enter into an agreement and take action […]
Section 13-10-203 – Cease and Desist Orders; Wyoming Financial Institutions; Bank Holding Companies Notice; Opportunity for Hearing.
13-10-203. Cease and desist orders; Wyoming financial institutions; bank holding companies notice; opportunity for hearing. (a) After notice and opportunity for hearing, the commissioner shall issue a final cease and desist order to a Wyoming financial institution if the Wyoming financial institution or any officer, director, employee or agent of the institution is violating or […]