Wyo. Stat. § 9-7-125
This is the official text of Wyo. Stat. § 9-7-125, part of Wyoming’s Wyoming Statutes — the complete compiled statutory law of Wyoming, organized into 40+ numbered titles by subject.
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§ 9-7-125. Subsidiary corporation; economic development loans
Official statutory text
(a) The authority may charter a subsidiary corporation for the purpose of managing or originating economic development loans subject to the following conditions:
(i) The directors of the authority shall also be directors of the subsidiary corporation and are entitled to the same compensation and expenses for such service as provided by W.S. 9-7-104(b) so long as the services do not occur on the same day;
(ii) The subsidiary corporation shall not take equity positions through stock ownership in any corporation or association;
(iii) The subsidiary corporation is subject to the audit requirements of W.S. 9-7-116 and the financial supervision requirements of W.S. 9-7-105(b) ;
(iv) The subsidiary corporation shall not acquire or originate any economic development loans on and after the effective date of this act;
(v) This section is retroactive and prospective in its application.
(i) The directors of the authority shall also be directors of the subsidiary corporation and are entitled to the same compensation and expenses for such service as provided by W.S. 9-7-104(b) so long as the services do not occur on the same day;
(ii) The subsidiary corporation shall not take equity positions through stock ownership in any corporation or association;
(iii) The subsidiary corporation is subject to the audit requirements of W.S. 9-7-116 and the financial supervision requirements of W.S. 9-7-105(b) ;
(iv) The subsidiary corporation shall not acquire or originate any economic development loans on and after the effective date of this act;
(v) This section is retroactive and prospective in its application.
Status: in_force · Read it on the official government site
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