13-6-404. Losses exceeding reserves or earnings.
Whenever the losses of an association exceed the reserve account they may be charged against the undivided earnings, if any, and if they also exceed undivided earnings, the state banking commissioner may proceed to wind up the affairs of such association.
Structure Wyoming Statutes
Title 13 - Banks, Banking and Finance
Chapter 6 - Savings and Loan Associations
Section 13-6-401 - When State Banking Commissioner to Take Charge; Refusal to So Permit.
Section 13-6-402 - Directors to Relieve Unsound Condition; Duty.
Section 13-6-403 - Directors to Relieve Unsound Condition; Failure.
Section 13-6-404 - Losses Exceeding Reserves or Earnings.
Section 13-6-405 - Banking Commissioner to Be Appointed Receiver; Assistants; Bonding Requirements.