Wyoming § 35-2-428 - Securities for acquiring hospitals and related facilities; obligation of trustees to holders; suit for default, misuse of funds.
Full text of Wyoming Wyoming Statutes Annotated § 35-2-428 — Securities for acquiring hospitals and related facilities; obligation of trustees to holders; suit for default, misuse of funds., with citation guidance and answers to common questions.
§ 35-2-428. Securities for acquiring hospitals and related facilities; obligation of trustees to holders; suit for default, misuse of funds.
The obligation of the trustees to the holders of the securities shall be limited to applying the funds, as set forth above, to the payment of interest and principal on said securities, and the securities shall contain a provision to that effect. In the event of default in the payment of said securities or the interest thereon, and in the event that the trustees are misusing such funds or not using them as provided by this act and the resolution authorizing the securities, or in the event of any other breach of any protective covenant or other contractual limitation, then such holders, or any of them, may bring suit against the trustees in the district court of the county in which the hospital or any of its related facilities including any facilities for senior health care as defined under W.S. 35-2-1201(b), are located for the purpose of restraining the trustees from using such funds for any purpose other than the payment of the principal and interest on such securities in the manner provided, or for any other appropriate remedy.
Source: official Wyoming text · Last verified 2026-08-27
Frequently Asked Questions About Wyoming § 35-2-428
What does Wyoming Statutes Annotated § 35-2-428 cover?
Section 35-2-428 ("Securities for acquiring hospitals and related facilities; obligation of trustees to holders; suit for default, misuse of funds.") is part of the Wyoming Statutes Annotated, the codified statutory law of Wyoming. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Wyoming § 35-2-428?
A common citation format is "Wyoming Statutes Annotated § 35-2-428" (Wyoming). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Wyoming law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Wyoming official source linked on this page or consult a licensed Wyoming attorney.
How does Wyoming § 35-2-428 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Wyoming can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Wyoming.