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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) A bank is insolvent when any of the following conditions exist:
(i) When the actual cash market value of its assets is less than its liabilities;
(ii) When it fails to make good its reserve as may be required by this act, or the federal reserve board; or
(iii) When it fails to pay, in the manner commonly accepted by business practices including draft or cashier's check, its legal obligations to depositors on demand or to discharge any certificates of deposit, promissory notes or other indebtedness when due.
Cite this article: FindLaw.com - Wyoming Statutes Title 13. Banks, Banking and Finance § 13-4-201. Conditions - last updated January 01, 2024 | https://codes.findlaw.com/wy/title-13-banks-banking-and-finance/wy-st-sect-13-4-201/
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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