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Current as of January 01, 2024 | Updated by Findlaw Staff
No bank shall loan any of its funds to executive officers, directors or to any person owning or controlling ten percent (10%) or more of the bank's or its bank holding company's voting ownership interests, or to any person in which any of the executive officers, directors or owners or controllers are interested except upon the written application of the person and then only with the prior approval of a majority of the board of directors. The approval of the loan, if allowed, shall be made a part of the records of the directors' meeting.
Cite this article: FindLaw.com - Wyoming Statutes Title 13. Banks, Banking and Finance § 13-3-102. Loans to executive officers, directors, principal shareholders or others with ownership interests - last updated January 01, 2024 | https://codes.findlaw.com/wy/title-13-banks-banking-and-finance/wy-st-sect-13-3-102/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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