9-4-818. Deposits by political subdivisions; applications by, and approval of, banks; rate of interest; defaults.
(a) Applications by banks and savings and loan associations shall be submitted to the proper governing board and shall be acted upon by the proper governing board as soon thereafter as practicable. Prior to the deposit, the board shall negotiate the rate of interest applicable to the deposit. No monies shall be deposited by any treasurer except in banks and savings and loan associations which have been approved by the proper governing board.
(b) If any depository defaults, the treasurer for the local government may sell any or all collateral that is pledged as security for the deposit of public funds in the depository at public or private sale. Notice of the sale of the collateral is required only if the treasurer determines that the collateral is illiquid. If notice is required, it shall be given by publication in a newspaper of general circulation in the county or counties in which real estate, in the case of mortgages, or local governments, in the case of local government bonds, are located, once each week for three (3) consecutive weeks.
Structure Wyoming Statutes
Title 9 - Administration of the Government
Article 8 - Deposits and Depositories
Section 9-4-801 - Board of Deposits; Creation; Composition; Records; Meetings; General Duties.
Section 9-4-805 - Deposit of State Money in Approved Depositories; Other Acceptable Security.
Section 9-4-806 - Deposit of State Money in Approved Depositories; Bank Resolution.
Section 9-4-808 - Deposit of State Money in Approved Depositories; Responsibility for Collateral.
Section 9-4-809 - "Time Deposit, Open Account"; Definition.
Section 9-4-810 - "Time Deposit, Open Account"; Rate of Interest on Public Funds.
Section 9-4-811 - "Time Deposit, Open Account"; Payment of Interest; Accounts of Monies.
Section 9-4-812 - Withdrawals of State Funds; Liability of Treasurer for Money or Bond Loss.
Section 9-4-814 - Sale of Collateral.
Section 9-4-815 - Recovery of Penalties on Bonds.
Section 9-4-816 - Deposits by Political Subdivisions; "Proper Governing Board" Defined.
Section 9-4-817 - Deposits by Political Subdivisions; Selected Institutions; Security; Withdrawals.
Section 9-4-821 - Deposits by Political Subdivisions; Security in Lieu of Surety Bonds.
Section 9-4-824 - Liability of Local Treasurers for Money Loss; Power to Withdraw Funds.
Section 9-4-827 - Joint Custody Agreement for Securing Local Deposits; Form for Receipts.