Title 40 — Title 40 — Trade And Commerce
32 chapters · 686 sections in this title.
W.S. § 40-31-101 Short title
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Short title. This act shall be known and may be cited as the "Wyoming Stable Token Act."
W.S. § 40-31-102 (a) Definitions
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(a) Definitions. As used in this act: (i) "Commission" means the Wyoming stable token commission created by W.S. 40-31-103; (ii) "Board" means the board of the Wyoming stable token commission; (iii) "Director" means the director of the Wyoming stable token commission; (iv) "Finan…
W.S. § 40-31-103 Wyoming stable token commission
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Wyoming stable token commission. (a) There is created the Wyoming stable token commission, which is a body politic and corporate operating as an instrumentality of the state of Wyoming, with authority to adopt an official seal and to sue and be sued. The commission may enter into…
W.S. § 40-31-104 Wyoming stable token value; limitations
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Wyoming stable token value; limitations. A Wyoming stable token is a virtual currency representative of and redeemable for one (1) United States dollar held in trust by the state of Wyoming as provided by W.S. 40-31-106. Stable tokens shall only be issued in exchange for United S…
W.S. § 40-31-105 Powers of the commission
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Powers of the commission. (a) This act shall be administered by the commission in accordance with this act. (b) The commission shall adopt rules and regulations as necessary to administer this act and to ensure compliance with all applicable state and federal law. (c) The commiss…
W.S. § 40-31-106 Wyoming stable token accounts
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Wyoming stable token accounts. (a) The Wyoming stable token trust account is created. The commission shall deposit all funds received for the issuance of Wyoming stable tokens into the account. Funds within the account received from the sale of Wyoming stable tokens shall be held…
W.S. § 40-31-107 Redemption
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Redemption. One (1) Wyoming stable token shall be redeemable for one (1) United States dollar upon demand as set forth by rule of the commission. The value of the Wyoming stable token upon redemption shall be one (1) United States dollar for each one (1) Wyoming stable token, unl…
W.S. § 40-31-108 Notice of limitations
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Notice of limitations. Under rules adopted by the commission, every contract, application or other similar document that may be used in connection with the purchase of Wyoming stable tokens shall clearly state that the Wyoming stable token is not insured by this state and the pri…
W.S. § 40-31-109 Limitations on liability
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Limitations on liability. (a) The state shall not be liable to any person for any amount beyond the notional value of the fund maintained in the Wyoming stable token trust account. Any Wyoming stable tokens issued under this act are payable and collectable solely out of the Wyomi…
W.S. § 40-31-110 Bidding requirements; contract procedures
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Bidding requirements; contract procedures. (a) The commission shall enter into contracts for procurements by competitive bidding. The requirement for competitive bidding shall not apply in the case of a single vendor having exclusive rights to offer a particular service or produc…