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Current as of January 01, 2024 | Updated by Findlaw Staff
A bank shall not accept as collateral or purchase its own capital stock unless the taking of the collateral or purchase is necessary to prevent loss upon a debt previously contracted in good faith. The stock shall be sold by the bank within six (6) months from the date it was received as collateral or acquired by purchase unless the debt is paid in full.
Cite this article: FindLaw.com - Wyoming Statutes Title 13. Banks, Banking and Finance § 13-2-305. Purchase or acceptance of own capital stock - last updated January 01, 2024 | https://codes.findlaw.com/wy/title-13-banks-banking-and-finance/wy-st-sect-13-2-305/
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