13-4-506. Dividends; borrowing to pay dividends; court approval needed.
(a) After the expiration of the time for the presentation of claims, the state banking commissioner may declare dividends out of any remaining funds after payment of expenses. One (1) year from the first publication of notice to creditors he may declare a final dividend as directed by the district court.
(b) The state banking commissioner when he deems the payment of dividends without further delay to be advisable may borrow money from any governmental agency. As security for the loan, the state banking commissioner may pledge assets of the insolvent bank as necessary.
(c) The authority of this section shall be exercised only with the approval of the district court of the county in which the bank is located. The court shall determine the amount that may be borrowed, the rate of interest that may be paid, the maturity of the proposed loan and the assets that may be pledged as collateral.
Structure Wyoming Statutes
Title 13 - Banks, Banking and Finance
Chapter 4 - Reorganization of Banks
Article 5 - Preferences, Disposition of Assets, Reorganization
Section 13-4-501 - Expenses of Liquidation First Priority.
Section 13-4-502 - Preference to Negotiable Instruments.
Section 13-4-503 - Rights of Secured Creditors, Depositors or Creditors.
Section 13-4-504 - Reorganization.
Section 13-4-505 - Hearing to Be Set; Order for Distribution of Assets.
Section 13-4-506 - Dividends; Borrowing to Pay Dividends; Court Approval Needed.