The corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of any director who is an officer or director of the depository so designated.
Wyo. Stat. Ann. § 17-11-112
Depository of funds
Known as the Wyoming Industrial Corporation Act
The act spans §§ 17-11-101 to 17-11-120 (20 sections).
Official source: Wyoming Legislature. Reproduced from public-domain Wyoming statutes; confirm against the official source for the current text. Not legal advice.