Wyoming § 13-2-305 - Purchase or acceptance of own capital stock.
Full text of Wyoming Wyoming Statutes Annotated § 13-2-305 — Purchase or acceptance of own capital stock., with citation guidance and answers to common questions.
§ 13-2-305. Purchase or acceptance of own capital stock.
A bank shall not accept as collateral or purchase its own capital stock unless the taking of the collateral or purchase is necessary to prevent loss upon a debt previously contracted in good faith. The stock shall be sold by the bank within six (6) months from the date it was received as collateral or acquired by purchase unless the debt is paid in full.
Source: official Wyoming text · Last verified 2026-08-27
Frequently Asked Questions About Wyoming § 13-2-305
What does Wyoming Statutes Annotated § 13-2-305 cover?
Section 13-2-305 ("Purchase or acceptance of own capital stock.") 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 § 13-2-305?
A common citation format is "Wyoming Statutes Annotated § 13-2-305" (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 § 13-2-305 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.