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Wyoming Statutes Title 13. Banks, Banking and Finance § 13-10-205. Removal of officer or director; notice; opportunity for hearing

Current as of January 01, 2024 | Updated by Findlaw Staff

(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 institutions in performing the duties of his office;

(ii) Has engaged or participated in any unsafe and unsound practice in performing the duties of his office; or

(iii) Has been convicted of or has pleaded guilty or nolo contendere to a crime involving dishonesty or breach of trust.

(b) Before issuing a final removal order, the commissioner shall serve notice of intent to issue the order upon the officer or director. The notice shall be in writing and shall contain the information required by W.S. 13-10-208(a).

(c) The officer or director may request a hearing on the proposed order before the board in accordance with W.S. 13-10-208(b). If the officer or director does not request a hearing in writing within the prescribed time period, the proposed order shall become a final removal order and the commissioner shall serve the final order upon the officer or director.

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Cite this article: FindLaw.com - Wyoming Statutes Title 13. Banks, Banking and Finance § 13-10-205. Removal of officer or director; notice; opportunity for hearing - last updated January 01, 2024 | https://codes.findlaw.com/wy/title-13-banks-banking-and-finance/wy-st-sect-13-10-205/

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