Wyoming Administrative Code
Agency 010 - Agriculture, Dept. of
Sub-Agency 0005 - General Agency, Board or Commission Rules
Chapter 20 - SPECIAL PURPOSE DEPOSITORY INSTITUTIONS
Section 20-8 - Financial / Data Records
Universal Citation: WY Code of Rules 20-8
Current through September 21, 2024
(a) As used in this Chapter:
(i) "Failed" or "failure" means,
consistent with W.S. §
13-12-122(b), a circumstance
when a special purpose depository institution has not:
(A) Complied with the requirements of
W.S.
13-12-105;
(B) Maintained a contingency account, as
required by
W.S.
13-12-106;
(C) Paid, in the manner commonly accepted by
business practices, its legal obligations to depositors on demand or to
discharge any certificates of deposit, promissory notes or other indebtedness
when due.
(ii) "Unsafe or
unsound condition" means, consistent with W.S. §§
13-12-122(b), a circumstance
relating to a special purpose depository institution which is likely to:
(A) Cause the failure of the institution, as
defined in paragraph (a)(i);
(B)
Cause a substantial dissipation of assets or earnings, including accepting,
renewing or rolling over a brokered deposit while less than well capitalized
without the authorization of the Commissioner;
(C) Substantially disrupt the services
provided by the institution to depositors;
(D) Otherwise substantially prejudice the
depository interests of depositors.
(b) Nothing in this section shall be construed to limit the Commissioner's authority to act under other state or federal laws, including action to address unsafe or unsound conditions, deficient capital levels or other violations of law.
Disclaimer: These regulations may not be the most recent version. Wyoming may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
