Please Note: The following summaries of legislation enacted during the 2004 Legislative Session were prepared by the Legal Services Division Staff for internal use by the Legislative Service Office.

This report is not an official publication of the Wyoming Legislature and does not purport to be an official statement of legislative intent concerning any measure enacted by the Legislature.

The bill summaries contained in this report were prepared as an aid to locating enacted legislation and as a brief recap of the major provisions of each bill. While the information provided in these summaries is accurate, the summaries are not intended as a detailed abstract and reference should be made to the enacted bills for more complete information.

Bill No.: HB0022 Drafter: JWL

LSO No.: 04LSO-0118.E2 Effective Date: 3/1/2004

Enrolled Act No.: HEA0012

Chapter No.: 12

Prime Sponsor: Representative Law

Catch Title: Financial institutions-limitations on real estate loans.

Subject: Exempts some real estate loans from loan-to-value limits.

Summary/Major Elements:

· W.S. 13-3-401 establishes loan-to-value limits for bank real estate loans. This bill creates an exception for loans originated for the purpose of reselling in the secondary mortgage market.