021-16 Wyo. Code R. § 16-2

Current through April 27, 2019

Section 16-2 - Certain obligations exempt from debt limitations

Notwithstanding the provisions of W.S. 13-3-402, a person is permitted to become indebted to a bank if, but only to the extent that, the repayment of the principal indebtedness and the interest accrued thereon is:

(a) A general obligation of a state or a political subdivision of a state; or

(b) An obligation issued by any of the following:

(i) the Federal National Mortgage Association;

(ii) the Federal Home Loan Mortgage Corporation;

(iii) the Federal Farm Credit Bank;

(iv) the Student Loan Marketing Association;

(v) the Federal Home Loan Bank;

(vi) the Financing Corporation, which is also known as FICO;

(vii) the Resolution Funding Corporation; or

(viii) the Tennessee Valley Authority.

(c) A limited obligation bond, revenue bond, and obligations that satisfy the requirements of 26 USC 142(b)(1) issued by or on behalf of any State or political subdivision of a State, including any municipal corporate instrumentality of 1 or more States, or any public agency or authority of any State or political subdivision of a State.

021-16 Wyo. Code R. § 16-2