060-37 Wyo. Code R. §§ 37-11 - Refinancing
(a) If a borrower
anticipates that it will be unable to make a required loan payment, the Board
may refinance the loans, provided that:
(i)
The borrower's inability to make payment is due to causes completely beyond its
control and without the fault or negligence of the borrower;
(ii) The Board determines that refinancing is
necessary for the better protection of the permanent mineral trust fund;
and
(iii) The term of the
refinanced loan does not exceed twenty-five (25) years from the date of
refinancing.
(b) If a
borrower becomes delinquent on its required loan payment, the Board may
refinance the loan, provided that:
(i) The
Board determines that refinancing is necessary for the better protection of the
permanent mineral trust fund; and
(ii) The term of the refinanced loan does not
exceed twenty-five (25) years from the date of refinancing.
(c) Interest rate. The interest
rate for refinanced loans under this Chapter shall be pursuant to Chapter 14 of
the rules as established by the Board.
(d) If the Board approves the refinancing of
a loan, the borrower shall pay a refinancing fee pursuant to
W.S.
21-18-319(b)(x) prior to the
execution of the loan amendment.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.