Section 15-4 - Investment Restrictions (a) The real estate limited partnership in which a bank invests as a limited partner shall meet the following criteria: - (i) The limited partnership must operate in the assessment areas delineated by the bank in compliance with 12 C.F.R. 228.41 or 12 C.F.R. 345.41;
- (ii) The limited partnership must be structured to limit the bank's liability to an amount not exceeding the bank's capital investment and any specific contingent liabilities, to avoid bank participation in the control of the business of the partnership, and to reflect steps taken by the bank to strictly limit its activities within the partnership, consistent with state law, so that the bank clearly maintains its limited partner status;
- (iii) The activities of the limited partnership must be restricted to acquiring, developing, rehabilitating, managing and selling or renting qualified housing projects.
(b) A bank may not invest in shares or equities of a corporation in violation of W.S. 13-3-202.
021-15 Wyo. Code R. § 15-4