WyomingSF 552026 Budget SessionSenateWALLET

AN ACT relating to banks, banking and finance; amending special purpose depository institution initial capital stock requirements; amending requirements for special purpose depository institutions to commence business as specified; amending requirements for the application to charter special purpose depository institutions as specified; amending the timeline special purpose depository institutions must commence business; authorizing appeals of decisions of the commissioner; amending the appealable court for decisions relating to special purpose depository institutions; creating a special purpose depository institution resolution fund account; specifying authorized expenditures and the investment of funds in the account; requiring a portion of supervisory fees to be paid to the account; repealing the requirement that special purpose depository institutions maintain a contingency account; making conforming amendments; requiring rulemaking; and providing for effective dates.

Sponsored By: Chris Rothfuss (Democratic)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

5 provisions identified: 1 benefits, 2 costs, 2 mixed.

New chancery court appeals for SPDIs

Starting July 1, 2026, SPDI applicants and institutions can appeal board or commissioner decisions to district court or chancery court under the Wyoming Administrative Procedure Act. This covers charter approvals, certificates, commencement findings, and deadline extensions.

Higher startup capital for SPDIs

Beginning July 1, 2026, an SPDI must have at least $5,000,000 in fully paid capital stock to be chartered or start business. It must also keep a paid‑up surplus of at least 20% of its authorized capital stock. Undivided profits must be at least one year of estimated operating expenses (or more if the commissioner requires).

Twice‑yearly SPDI fees and fund

Beginning July 1, 2026, SPDIs must pay supervisory fees by January 31 and July 31 each year, based on total assets as of the prior December 31 and June 30. The commissioner sets the fee rates and may exempt an institution if it pays other fees. Fees go to the SPDI subaccount; a portion set by rule goes to a new SPDI resolution fund. The treasurer invests the fund and keeps earnings in it, and money can be used only to carry out involuntary dissolutions of SPDIs.

New SPDI application and start rules

Starting July 1, 2026, an approved SPDI has one year after its certificate to start business in good faith. The board may extend the deadline for good cause if the SPDI applies before it expires; otherwise the charter and certificate expire. The application must include an estimate of first‑year operating expenses (not three years). The banking commissioner sets, by rule, the specific requirements an approved SPDI must meet to commence business.

Old SPDI rules repealed, new rules

The law repeals W.S. 13‑12‑106 and W.S. 13‑12‑122(b)(i)(B). The banking commissioner must issue rules needed to carry out this act.

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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: 96 • No: 39

House vote 3/5/2026

H 3rd Reading:Passed 36-25-1-0-0

Yes: 36 • No: 25

House vote 3/2/2026

H09 - Minerals:Recommend Do Pass 7-1-1-0-0

Yes: 7 • No: 1

Senate vote 2/23/2026

S 3rd Reading:Passed 26-5-0-0-0

Yes: 26 • No: 5

Senate vote 2/18/2026

S09 - Minerals:Recommend Do Pass 5-0-0-0-0

Yes: 5 • No: 0

Senate vote 2/10/2026

S Introduced and Referred to S09 - Minerals 22-8-1-0-0

Yes: 22 • No: 8

Actions Timeline

  1. Governor Signed SEA No. 0054

    3/7/2026Governor
  2. Assigned Chapter Number 75

    3/7/2026
  3. H 3rd Reading:Passed 36-25-1-0-0

    3/5/2026House
  4. Assigned Number SEA No. 0054

    3/5/2026
  5. S President Signed SEA No. 0054

    3/5/2026Senate
  6. H Speaker Signed SEA No. 0054

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

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

    3/3/2026House
  9. H09 - Minerals:Recommend Do Pass 7-1-1-0-0

    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 26-5-0-0-0

    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 5-0-0-0-0

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

    2/18/2026Senate
  18. S Introduced and Referred to S09 - Minerals 22-8-1-0-0

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

    1/29/2026Senate
  20. Bill Number Assigned

    1/27/2026

Bill Text

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