13-2-309. Issuance of capital notes or debentures; generally.
(a) A bank may issue, sell or pledge its capital notes or debentures if the bank has first obtained the written or voting approval of the shareholders holding a majority of the shares of the bank and the written approval of the state banking commissioner.
(b) The board of directors shall determine the terms of its capital notes or debentures subject to the provisions of W.S. 13-2-311 and subsection (c) of this section.
(c) The amount of outstanding capital notes or debentures of any bank shall not exceed fifty percent (50%) of the amount of the capital stock and surplus fund of the bank at the date of issue. The periods of maturities with respect to any issue shall not exceed twenty-five (25) years as prescribed by the state banking commissioner. Capital notes and debentures shall be subject to a schedule of prepayments or to an appropriate sinking fund for the amortization of the indebtedness.
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.