Title 13 — Title 13 — Banks, Banking And Finance
13 chapters · 401 sections in this title.
W.S. § 13-5-209 Renumbered as 13-5-606 by Laws 2019, ch
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Renumbered as 13-5-606 by Laws 2019, ch. 13, §
W.S. § 13-5-210 Renumbered as 13-5-601 by Laws 2019, ch
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Renumbered as 13-5-601 by Laws 2019, ch. 13, §
W.S. § 13-5-211 Renumbered as 13-5-602 by Laws 2019, ch
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Renumbered as 13-5-602 by Laws 2019, ch. 13, §
W.S. § 13-5-212 Repealed by Laws 2019, ch
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Repealed by Laws 2019, ch. 13, § 2.
W.S. § 13-5-213 Repealed by Laws 2019, ch
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Repealed by Laws 2019, ch. 13, § 2.
W.S. § 13-5-214 Renumbered as 13-5-411 by Laws 2019, ch
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Renumbered as 13-5-411 by Laws 2019, ch. 13, § 3. 3. 3. 3. 3.
W.S. § 13-5-215 Renumbered as 13-5-607 by Laws 2019, ch
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Renumbered as 13-5-607 by Laws 2019, ch. 13, §
W.S. § 13-5-216 Renumbered as 13-5-414 by Laws 2019, ch
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Renumbered as 13-5-414 by Laws 2019, ch. 13, §
W.S. § 13-5-217 Renumbered as 13-5-608 by Laws 2019, ch
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Renumbered as 13-5-608 by Laws 2019, ch. 13, §
W.S. § 13-5-218 Renumbered as 13-5-522 by Laws 2019, ch
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Renumbered as 13-5-522 by Laws 2019, ch. 13, §
W.S. § 13-5-219 Renumbered as 13-5-424 by Laws 2019, ch
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Renumbered as 13-5-424 by Laws 2019, ch. 13, §
W.S. § 13-5-301 (a) Definitions
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(a) Definitions. As used in this chapter: (i) "Charter" means the commissioner's grant of authority to any supervised trust company to act and operate in that capacity; (ii) "Chartered family trust company" means a family trust company that has been granted a charter by the commi…
W.S. § 13-5-302 company
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company. Naming convention; advertisement of trust (a) Except as provided in subsection (b) of this section, no person or entity shall advertise, issue or circulate any paper or exhibit any sign, using the term "trust company" unless the person or entity has fully complied with t…
W.S. § 13-5-303 Trust company organized as limited liability company; applicability
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Trust company organized as limited liability company; applicability. A trust company organized as a limited liability company shall be subject to all of the same laws and regulations that relate to a trust company organized as a corporation. All managers, officers and employees o…
W.S. § 13-5-304 Applicability of chapter
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Applicability of chapter. The Financial Technology Sandbox Act shall apply to this chapter.
W.S. § 13-5-401 Laws applicable; matters of contract
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Laws applicable; matters of contract. (a) In the exercise by a supervised trust company of its powers as guardian, executor, trustee, administrator or conservator, or of any office or duty imposed by any court, the supervised trust company shall be subject to the same responsibil…
W.S. § 13-5-402 Records; retention generally
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Records; retention generally. Each supervised trust company in this state shall retain its business records for the periods prescribed by W.S. 13-5-403 through 13-5-408.
W.S. § 13-5-403 Records; permanent records
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Records; permanent records. Each supervised trust company shall permanently retain the minute books of meetings of its stockholders and directors, its capital stock ledger and capital stock certificate ledger or stubs, its general ledger, or the record kept by the supervised trus…
W.S. § 13-5-404 Records; records retained three years
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Records; records retained three years. All supervised trust company records pertaining to other parties such as transactional records shall be retained for three (3) years after the completion of the transactions pertaining to the records.
W.S. § 13-5-405 commissioner
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commissioner. Records; requirements of state banking All other supervised trust company records shall be retained for the periods prescribed by the commissioner.
W.S. § 13-5-406 rules
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rules. Records; state banking commissioner to issue (a) The commissioner shall issue rules classifying records kept by supervised trust companies and prescribing the periods for which records of each class shall be retained. The rules shall be reviewed and considered for revision…
W.S. § 13-5-407 Records; duty to produce records
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Records; duty to produce records. After the period prescribed for the retention of records of its class the supervised trust company has no duty to produce the record in any action or proceeding if the supervised trust company has disposed of the records.
W.S. § 13-5-408 Records; reproduction
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Records; reproduction. Any supervised trust company may cause any of its records including those held by it as a fiduciary, to be photographed, microfilmed, scanned or otherwise reproduced in permanent form. Any photograph, scan or reproduction has the same effect as the original…
W.S. § 13-5-409 Financial transactions
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Financial transactions. (a) Every supervised trust company shall keep all trust funds and investments separate and apart from the assets of the supervised trust company and all investments made by the supervised trust company as a fiduciary shall be designated so that the trust o…
W.S. § 13-5-410 Powers of the commissioner
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Powers of the commissioner. (a) In addition to other powers conferred by this chapter, the commissioner shall: (i) Supervise and examine all supervised trust companies organized under the provisions of this chapter and all supervised trust companies shall be subject to the laws o…
W.S. § 13-5-411 Reports to commissioner
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Reports to commissioner. (a) The commissioner may call for special reports verified under oath from any supervised trust company at any time as necessary to inform the commissioner of the condition of the supervised trust company. (b) All reports required of supervised trust comp…
W.S. § 13-5-412 regulations
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regulations. Failure to submit required report; fees; (a) If a supervised trust company fails to submit any report required pursuant to this chapter or any regulation adopted pursuant thereto within the prescribed period, the commissioner may impose and collect a fee for each day…
W.S. § 13-5-413 Surety bond; pledged investments; investment income; bond or pledge increases; hearings
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Surety bond; pledged investments; investment income; bond or pledge increases; hearings. (a) Any supervised trust company shall, before transacting any business, pledge or furnish a surety bond to the commissioner to cover costs likely to be incurred by the commissioner in a rece…
W.S. § 13-5-414 Fidelity bonds; insurance
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Fidelity bonds; insurance. (a) The directors or managers of a supervised trust company shall obtain fidelity bonds of not less than one million dollars ($1,000,000.00) providing coverage for any active officers, managers, members acting in a managerial capacity and employees, whe…
W.S. § 13-5-415 Suspension or revocation of charter
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Suspension or revocation of charter. (a) The commissioner may suspend or revoke the charter of a supervised trust company if, after notice and opportunity for a hearing, the commissioner determines that: (i) The supervised trust company has failed or refused to comply with any or…
W.S. § 13-5-416 Continuing jurisdiction
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Continuing jurisdiction. If the certificate of a supervised trust company is surrendered, suspended or revoked, the supervised trust company shall continue to be subject to the provisions of this chapter for so long as it acts as a fiduciary with respect to any trust business pre…
W.S. § 13-5-417 Insolvency; unsafe condition; receivership
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Insolvency; unsafe condition; receivership. (a) If the commissioner finds a deficiency in capital or other unsafe or unsound condition of a supervised trust company that has not been remedied within the time prescribed under an order of the commissioner issued pursuant to W.S. 13…
W.S. § 13-5-418 Order declaring supervised trust company properly wound up and dissolved
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Order declaring supervised trust company properly wound up and dissolved. (a) Upon the completion of the liquidation of a trust company pursuant to W.S. 13-5-417, the commissioner shall petition the court for an order declaring the supervised trust company properly wound up and d…
W.S. § 13-5-419 Voluntary dissolution of supervised trust company; liquidation; reorganization; application for dissolution; filing fee; filing with secretary of state; revocation of charter
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Voluntary dissolution of supervised trust company; liquidation; reorganization; application for dissolution; filing fee; filing with secretary of state; revocation of charter. (a) A supervised trust company may voluntarily dissolve in the manner provided herein. Voluntary dissolu…
W.S. § 13-5-420 Willful neglect to perform duties imposed by law or failure to conform to material lawful requirement made by commissioner; removal
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Willful neglect to perform duties imposed by law or failure to conform to material lawful requirement made by commissioner; removal. (a) Each officer, director, manager, member, employee or agent of a supervised trust company, following written notice from the commissioner sent b…
W.S. § 13-5-421 Change in place of business
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Change in place of business. (a) Any supervised trust company may apply in writing to the commissioner for permission to change its place of business to any other municipality in the state. The application shall be accompanied by a fee established by rule of the commissioner and …
W.S. § 13-5-422 Amendment to organizational instrument
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Amendment to organizational instrument. (a) A supervised trust company may amend its organizational instrument pursuant to the requirements of W.S. 17-16-1001 through 17-16-1009 for a corporation or W.S. 17-29202 for a limited liability company. The articles of amendment shall be…
W.S. § 13-5-423 Liability of directors, managers and officers
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Liability of directors, managers and officers. (a) Except as provided in this section, no director, manager or officer of any supervised trust company may be held individually liable to any person for participating in or consenting to any act or failure to act in the conduct of t…
W.S. § 13-5-424 application
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application. Establishment of trust service offices; (a) After first applying for and obtaining the approval of the commissioner, one (1) or more trust service offices may be established and operated by a supervised trust company organized under the laws of this state. An applica…
W.S. § 13-5-425 Establishment of trust company branches; application; fee; activities; examination; criteria
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Establishment of trust company branches; application; fee; activities; examination; criteria. (a) With prior approval of the commissioner a supervised trust company may establish and operate one (1) or more branches at any location in this state. (b) All applications for establis…
W.S. § 13-5-426 companies
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companies. (a) Mergers and acquisitions of supervised trust As used in this section: (i) "Consummation" means the moment when a merger or acquisition becomes effective; (ii) "Former trust company" means a trust company or business entity that will cease operations after a merger …
W.S. § 13-5-501 Formation and organizational instrument
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Formation and organizational instrument. (a) One (1) or more adult persons may organize a corporation or limited liability company for the purpose of forming a public trust company at a place in this state designated in the organizational instrument subject to the conditions pres…
W.S. § 13-5-502 Procedure upon filing of organizational instrument, application and other information
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Procedure upon filing of organizational instrument, application and other information. (a) The organizer shall apply to the commissioner for a charter. The application shall be on forms prescribed by the commissioner and shall contain such information as required by rule of the c…
W.S. § 13-5-503 Application filing fee
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Application filing fee. The application for a charter filed with the commissioner shall be accompanied by a fee established by rule of the commissioner to cover the expense of the investigation by the commissioner, the expense of the public hearing or meeting and other related ex…
W.S. § 13-5-504 applications
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applications. Procedure for hearings or meetings on charter If a party with a bona fide interest contests the charter application, the hearing held shall be a contested case under the Wyoming Administrative Procedure Act and shall comply with the requirements of that act. If the …
W.S. § 13-5-505 Emergency charters; fees
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Emergency charters; fees. (a) Notwithstanding any other provisions contained in this chapter, a public trust company charter may be granted by the commissioner without a public meeting or hearing in any case determined by the commissioner to be an emergency arising from the insol…
W.S. § 13-5-506 commissioner
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commissioner. Investigation and examination by banking (a) Upon receiving the organizational instrument, application and other information required to be submitted under W.S. 13-5-501 and 13-5-502, the commissioner shall make a careful investigation and examination of the followi…
W.S. § 13-5-507 Approval or disapproval of application; criteria for approval; action upon application; interim charter; fee
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Approval or disapproval of application; criteria for approval; action upon application; interim charter; fee. (a) Within ninety (90) days after receipt of the transcript of the public meeting or hearing, the board shall in its discretion approve, conditionally approve or disappro…
W.S. § 13-5-508 Certificate of authority to commence business required; application; approval or denial; failure to commence business
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Certificate of authority to commence business required; application; approval or denial; failure to commence business. If the application is approved and a charter granted by the board, the public trust company shall not commence business before receiving a certificate of authori…
W.S. § 13-5-509 Decisions by board appealable; grounds
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Decisions by board appealable; grounds. Any decision of the board in approving or disapproving any charter or the issuance or denial of a certificate of authority is appealable to the district court of the county in which the public trust company is to be located in accordance wi…