13-2-305. Purchase or acceptance of own capital stock.
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.
Structure Wyoming Statutes
Title 13 - Banks, Banking and Finance
Chapter 2 - Organization of Banks
Article 3 - Capital Requirements, Stock, Notes and Debentures
Section 13-2-301 - Requirements as to Capital.
Section 13-2-302 - Issue of Stock.
Section 13-2-303 - Increase or Reduction of Capital Stock.
Section 13-2-304 - Transfer of Stock and Other Ownership Interests.
Section 13-2-305 - Purchase or Acceptance of Own Capital Stock.
Section 13-2-306 - Stock Register; Inspection.
Section 13-2-307 - Voting by Shareholders Generally; Balloting for Directors.
Section 13-2-308 - Preferred Stock.
Section 13-2-309 - Issuance of Capital Notes or Debentures; Generally.
Section 13-2-310 - Issuance of Capital Notes or Debentures; Approval by State Banking Commissioner.
Section 13-2-311 - Capital Notes or Debentures; Provisions to Be Stated.
Section 13-2-312 - Capital Notes or Debentures; Conversion Into Common or Preferred Stock.
Section 13-2-313 - Capital Notes or Debentures; No Assessment or Liability.
Section 13-2-314 - Capital Notes or Debentures; Proceeds Not Part of Capital or Surplus.