13-2-311. Capital notes or debentures; provisions to be stated.
(a) The following provisions shall be stated in the capital notes or debentures:
(i) That the notes or debentures are an unsecured indebtedness of the bank and subordinate to the claims of creditors and depositors;
(ii) In the event of liquidation of the bank all depositors and creditors are entitled to be paid in full with interest provided by law prior to payment on the notes or debentures;
(iii) No payment will be made on the principal of the notes or debentures unless following the payment the aggregate of the capital, surplus and undivided profits of the bank is at least equal to the amount of the capital, surplus and undivided profits at the date of issue unless otherwise authorized by the state banking commissioner.
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.