WyomingSF 542026 Budget SessionSenateWALLET

AN ACT relating to banks, banking and finance; providing for the conversion of special purpose depository institutions into state banks; providing for the conversion of state banks into special purpose depository institutions; requiring rulemaking; and providing for effective dates.

Sponsored By: Chris Rothfuss (Democratic)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 0 costs, 2 mixed.

Rulemaking now, most changes start 2026

Effective immediately, the banking commissioner must start rulemaking. The commissioner must finish all rules by July 1, 2026. Most other changes in this act take effect July 1, 2026. Sections 3 and 4, including this rulemaking requirement and the effective‑date section, are effective now.

Banks can switch between Wyoming charters

Beginning July 1, 2026, Wyoming banks and special purpose depository institutions can switch charters. A shareholder‑approved plan is required, plus board and commissioner approval, meeting capital rules, and paying the conversion fee. Before doing business, the new charter must have a state certificate of authority and any required federal deposit insurance. An expedited track lets the commissioner decide a complete conversion filing in 90 days; for the certificate, the commissioner must act within 30 days and issue it within 20 days, and lack of action within 30 days counts as approval. If denied, applicants have up to 90 days to fix problems. The new bank or SPDI must start business within one year or the charter expires. The firm must surrender the old charter, drop the old designation from its name, and it is treated as the same age as before. State‑bank statutes generally do not apply to SPDIs unless the conversion law says they do.

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Sponsors & Cosponsors

Sponsor

  • Chris Rothfuss

    Democratic • Senate

Cosponsors

  • Lee Filer

    Republican • House

  • Daniel Singh

    Republican • House

  • Mike Yin

    Democratic • House

  • Barry Crago

    Republican • Senate

  • Tara Nethercott

    Republican • Senate

  • Jared Olsen

    Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 102 • No: 32

House vote 3/5/2026

H 3rd Reading:Passed 37-24-1-0-0

Yes: 37 • No: 24

House vote 3/2/2026

H09 - Minerals:Recommend Do Pass 8-0-1-0-0

Yes: 8 • No: 0

Senate vote 2/23/2026

S 3rd Reading:Passed 27-4-0-0-0

Yes: 27 • No: 4

Senate vote 2/18/2026

S09 - Minerals:Recommend Do Pass 4-0-1-0-0

Yes: 4 • No: 0

Senate vote 2/10/2026

S Introduced and Referred to S09 - Minerals 26-4-1-0-0

Yes: 26 • No: 4

Actions Timeline

  1. Governor Signed SEA No. 0053

    3/7/2026Governor
  2. Assigned Chapter Number 74

    3/7/2026
  3. H 3rd Reading:Passed 37-24-1-0-0

    3/5/2026House
  4. Assigned Number SEA No. 0053

    3/5/2026
  5. S President Signed SEA No. 0053

    3/5/2026Senate
  6. H Speaker Signed SEA No. 0053

    3/5/2026House
  7. H 2nd Reading:Passed

    3/4/2026House
  8. H COW:Passed

    3/3/2026House
  9. H09 - Minerals:Recommend Do Pass 8-0-1-0-0

    3/2/2026House
  10. H Placed on General File

    3/2/2026House
  11. H Introduced and Referred to H09 - Minerals

    2/26/2026House
  12. S 3rd Reading:Passed 27-4-0-0-0

    2/23/2026Senate
  13. H Received for Introduction

    2/23/2026House
  14. S 2nd Reading:Passed

    2/20/2026Senate
  15. S COW:Passed

    2/19/2026Senate
  16. S09 - Minerals:Recommend Do Pass 4-0-1-0-0

    2/18/2026Senate
  17. S Placed on General File

    2/18/2026Senate
  18. S Introduced and Referred to S09 - Minerals 26-4-1-0-0

    2/10/2026Senate
  19. S Received for Introduction

    1/29/2026Senate
  20. Bill Number Assigned

    1/27/2026

Bill Text

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