Section 13-4-602 – Withdrawal and Deposits.
13-4-602. Withdrawal and deposits. (a) The state banking commissioner may require a conservator of a bank to make available for withdrawal by depositors and payment on a ratable basis to other creditors amounts that may safely be used for this purpose. (b) The state banking commissioner may permit the conservator to receive deposits. Deposits received […]
Section 13-4-603 – Termination; Authority of Commissioner.
13-4-603. Termination; authority of commissioner. The state banking commissioner may terminate the conservatorship and permit the bank to resume the transaction of its business subject to limitations which he may prescribe in the public interest.
Section 13-4-604 – Termination; Effect on Payments and Notice.
13-4-604. Termination; effect on payments and notice. (a) Fifteen (15) days after the affairs of a bank have been turned back to its board of directors by the conservator the provisions of W.S. 13-4-602 shall no longer be effective. (b) Before the conservator turns back the affairs of the bank to its board of directors […]
Section 13-4-701 – Payment of Stockholders.
13-4-701. Payment of stockholders. (a) If the state banking commissioner has paid the full amount of the claim to each depositor and creditor of the bank whose claims have been allowed, has made provision for unpaid deposits and has paid all the expenses of the liquidation, he shall call a meeting of the stockholders of […]
Section 13-4-702 – Assets Discovered After Liquidation.
13-4-702. Assets discovered after liquidation. If assets are discovered after the liquidation proceeding has closed and in the opinion of the state banking commissioner the cost of distributing the assets would prevent the payment of a dividend exceeding one-half of one percent (0.5%), the assets shall be converted into money and paid to the commissioner.
Section 13-4-503 – Rights of Secured Creditors, Depositors or Creditors.
13-4-503. Rights of secured creditors, depositors or creditors. The rights of secured creditors in the security pledged or in the capital stock assessment are not affected nor are the rights of depositors or creditors affected on bonds or other contracts with third parties by W.S. 13-4-505.
Section 13-4-504 – Reorganization.
13-4-504. Reorganization. (a) Any bank reorganization requiring the consent of depositors, stockholders and other creditors becomes effective only: (i) When the state banking commissioner is satisfied that the plan of reorganization is fair and equitable to all depositors, stockholders and other creditors and is in the public interest; and (ii) When, after reasonable notice of […]
Section 13-4-505 – Hearing to Be Set; Order for Distribution of Assets.
13-4-505. Hearing to be set; order for distribution of assets. (a) Prior to ordering any distribution of the assets of a bank, the district court shall set a hearing, with notice to all creditors and stockholders as the court may direct. (b) The district court upon application of the state banking commissioner may order the […]
Section 13-4-506 – Dividends; Borrowing to Pay Dividends; Court Approval Needed.
13-4-506. Dividends; borrowing to pay dividends; court approval needed. (a) After the expiration of the time for the presentation of claims, the state banking commissioner may declare dividends out of any remaining funds after payment of expenses. One (1) year from the first publication of notice to creditors he may declare a final dividend as […]
Section 13-4-601 – Appointment; Duty of Commissioner.
13-4-601. Appointment; duty of commissioner. (a) The state banking commissioner may appoint a conservator for a bank in order to conserve the assets of the bank for depositors and creditors. He may require a sufficient bond and security of the conservator. The conservator shall receive a fixed salary in an amount to be determined by […]