Title 13 — Title 13 — Banks, Banking And Finance
13 chapters · 401 sections in this title.
W.S. § 13-5-510 Powers of public trust companies; limitations; prohibitions; conflicts of interest; exemptions
4.9K chars
Powers of public trust companies; limitations; prohibitions; conflicts of interest; exemptions. (a) Public trust companies may exercise the powers permitted by subsection (b) of this section and the powers and rights granted to other corporations and limited liability companies u…
W.S. § 13-5-511 interest
0.8K chars
interest. Requirements as to capital or membership (a) The capital stock or membership interest of each public trust company shall be subscribed for as fully paid stock or fully paid membership interests. No public trust company shall organize with a capital stock or membership i…
W.S. § 13-5-512 Issue of stock or membership interest
0.2K chars
Issue of stock or membership interest. A public trust company shall not issue any share of stock or any percentage of membership interest until the par value of the share or the capital contribution has been actually paid in cash.
W.S. § 13-5-513 Increase or reduction of capital stock
0.4K chars
Increase or reduction of capital stock. A public trust company may increase or reduce the capital stock or membership interest of the public trust company after receiving the written approval of the commissioner and by the vote of the shareholders or members owning two-thirds (2/…
W.S. § 13-5-514 Transfer of stock, membership interests and other ownership interests
1.3K chars
Transfer of stock, membership interests and other ownership interests. (a) The shares of stock or membership interests of public trust companies are personal property and shall be transferred on the books of the public trust company in such manner as the bylaws or operating agree…
W.S. § 13-5-515 inspection
0.6K chars
inspection. Stock or membership interest register; A public trust company shall keep a stock or membership interest register that is open for inspection during business hours to officers, directors and stockholders or members and managers of the public trust company. The register…
W.S. § 13-5-516 Voting by shareholders and members generally; balloting for directors and managers
1.4K chars
Voting by shareholders and members generally; balloting for directors and managers. (a) Unless the public trust company's governing documents provide otherwise: (i) Each share or membership interest entitles the owner to one (1) vote on all elections of directors or managers and …
W.S. § 13-5-517 Preferred stock
3.0K chars
Preferred stock. (a) Unless the organizational instrument of a public trust company is more restrictive, a public trust company may issue one (1) or more classes of preferred stock or membership interest upon the approval of two-thirds (2/3) of the stockholders or members and the…
W.S. § 13-5-518 Authority to manage public trust companies; qualifications
1.1K chars
Authority to manage public trust companies; qualifications. The affairs of a public trust company shall be managed by not less than five (5) directors or managers. Shareholders or the board of directors or members or the managers, if provided by the organizational instrument, may…
W.S. § 13-5-519 Election; term; vacancies; number
1.7K chars
Election; term; vacancies; number. (a) The initial and elected directors or managers of any public trust company shall hold office for one (1) year and until their successors are elected and qualified except in cases of death, resignation or removal under the laws of this state. …
W.S. § 13-5-520 Meetings; record of proceedings and business
0.6K chars
Meetings; record of proceedings and business. (a) The board of directors or managers of a public trust company shall hold a regular meeting at least once every quarter of the calendar year. At each meeting a detailed report showing all trust business shall be submitted. The board…
W.S. § 13-5-521 Inspection of public trust company; confidentiality
1.2K chars
Inspection of public trust company; confidentiality. (a) Every public trust company is subject to inspection by the commissioner. The commissioner or a duly appointed examiner shall visit and examine each public trust company as often as the commissioner deems necessary and at le…
W.S. § 13-5-522 Conversion from chartered family trust company to public trust company
0.4K chars
Conversion from chartered family trust company to public trust company. A chartered family trust company that complies with the requirements outlined in W.S. 13-5-501 through 13-5-509, and upon approval of the new public trust company charter and surrender of the chartered family…
W.S. § 13-5-523 institutions
3.8K chars
institutions. Conversion from special purpose depository (a) The commissioner, with approval of the board, may convert the charter of a special purpose depository institution chartered under W.S. 13-12-115 to a public trust company chartered under this article. A conversion shall…
W.S. § 13-5-601 (a) members: Powers of family trust companies; prohibitions
1.1K chars
(a) members: Powers of family trust companies; prohibitions. A family trust company may, but only for family (i) Act or be appointed by any court within and outside this state to act as a fiduciary for family members for any purpose permitted by law; (ii) Act as transfer agent or…
W.S. § 13-5-602 Family trust companies; authorized actions and transactions; conflicts of interest
5.1K chars
Family trust companies; authorized actions and transactions; conflicts of interest. (a) In addition to the actions authorized by W.S. 13-5-601 and notwithstanding the other provisions of this chapter, while acting as a fiduciary a family trust company may: (i) Invest in a securit…
W.S. § 13-5-603 company
1.6K chars
company. Organization of a chartered family trust (a) One (1) or more persons may subscribe to an organizational instrument in writing for the purpose of forming a chartered family trust company, subject to the conditions prescribed by law. (b) The articles of incorporation for a…
W.S. § 13-5-604 (a) Requirements for chartered family trust company
0.9K chars
(a) Requirements for chartered family trust company. A chartered family trust company shall maintain: (i) A physical office in this state where original or true copies, including electronic copies, of all material business records and accounts of the chartered family trust compan…
W.S. § 13-5-605 capital
0.8K chars
capital. Minimum capital requirements; investment of The initial capital required to organize a chartered family trust company shall be not less than five hundred thousand dollars ($500,000.00). The full amount of the initial capital must be paid in cash to the governing body of …
W.S. § 13-5-606 Procedures upon filing of organizational instruments, application and other information; application fee; approval or disapproval of application; criteria for approval; action upon application
3.9K chars
Procedures upon filing of organizational instruments, application and other information; application fee; approval or disapproval of application; criteria for approval; action upon application. (a) An applicant for a chartered family trust company charter must file an application…
W.S. § 13-5-607 Inspection of chartered family trust company; fees; resolution fund account; confidentiality
1.5K chars
Inspection of chartered family trust company; fees; resolution fund account; confidentiality. (a) Every chartered family trust company is subject to inspection by the commissioner. The commissioner or a duly appointed examiner shall visit and examine each chartered family trust c…
W.S. § 13-5-608 Conversion from public trust company to chartered family trust company
1.0K chars
Conversion from public trust company to chartered family trust company. (a) A public trust company that meets the requirements of W.S. 13-5-301(a)(viii), 13-5-604 and 13-5-605 may merge with, convert into or reorganize as a chartered family trust company upon application to the c…
W.S. § 13-5-701 Establishment of a private family trust company
1.9K chars
Establishment of a private family trust company. (a) One (1) or more persons may subscribe to an organizational instrument in writing for the purpose of forming a private family trust company, subject to the provisions of this chapter. (b) The articles of incorporation for a priv…
W.S. § 13-5-702 Inspection of private family trust companies; authority of commissioner
0.8K chars
Inspection of private family trust companies; authority of commissioner. (a) If the commissioner has reasonable cause to believe that a private family trust company proposes to transact or has transacted trust company business with the general public, then the commissioner may co…
W.S. § 13-5-703 chapter
0.3K chars
chapter. Private family trust companies; applicability of Except as otherwise provided in this chapter, the provisions of this chapter applicable to supervised trust companies and family trust companies shall not apply to private family trust companies.
W.S. § 13-6-101 Authority to charter
0.2K chars
Authority to charter. The state banking board as provided by W.S. 13-1-606 and 13-2-207 through 13-2-214 is authorized to charter state savings and loan associations.
W.S. § 13-6-102 Articles of incorporation; bylaws; definition
2.5K chars
Articles of incorporation; bylaws; definition. (a) Not less than five (5) natural persons may associate for the purpose of carrying on a savings and loan business by making and acknowledging in triplicate and by filing articles of incorporation specifying: (i) The name of the pro…
W.S. § 13-6-201 Insurance
0.2K chars
Insurance. The state banking commissioner shall require as a condition of approval that associations be approved and their savings insured by the federal deposit insurance corporation.
W.S. § 13-6-202 Capitalization
1.0K chars
Capitalization. (a) Except as otherwise provided in this subsection, associations shall have permanent nonwithdrawable capital stock of one hundred dollars ($100.00) per share and this stock shall be subscribed for as fully paid stock. An association other than a mutual savings a…
W.S. § 13-6-203 Stock
0.4K chars
Stock. (a) The capital stock shall all be of one (1) class and shall be fully paid and nonassessable in all events. (b) The owners of the stock shall be members of the association and entitled to one (1) vote for each share for election of directors and all other purposes. (c) Re…
W.S. § 13-6-204 Reserves
1.1K chars
Reserves. (a) State savings and loan associations, in addition to the par value of their capital, shall set up and maintain reserves as follows: (i) Except as provided in W.S. 13-7-102, before the declaration of a dividend for any period an association shall transfer an amount eq…
W.S. § 13-6-205 Repealed By Laws 1998, ch
0.0K chars
Repealed By Laws 1998, ch. 64, § 2.
W.S. § 13-6-206 Bond of officers and agents
0.3K chars
Bond of officers and agents. Each officer or agent having the custody of money or securities of any association shall give a bond to the association in an amount to be determined by the board of directors of the association commensurate with his liability. The bond shall be appro…
W.S. § 13-6-301 Procedure generally
2.5K chars
Procedure generally. (a) Any association organized under the laws of this state, including a mutual savings and loan association, may reorganize the association and provide for the carrying on of its business under the laws of this state by a vote of two-thirds (2/3) of the share…
W.S. § 13-6-302 Conversion to federal association; procedure
1.6K chars
Conversion to federal association; procedure. (a) Any state savings and loan association, including a mutual savings and loan association, or any other home financing association, eligible to become a federal savings and loan association may convert itself into a federal savings …
W.S. § 13-6-303 Conversion to federal association; effect
0.5K chars
Conversion to federal association; effect. (a) When a conversion becomes effective as provided by W.S. 13-6-302, an association ceases to be supervised by this state and all of the property of the association shall continue to be vested in the association under its new name and s…
W.S. § 13-6-304 Conversion to state association; procedure
2.0K chars
Conversion to state association; procedure. (a) Any savings and loan association organized under the federal laws and doing business in this state pursuant to W.S. 13-4-109 through 13-4-112, including a mutual savings and loan association, may convert itself into a state savings …
W.S. § 13-6-305 Repealed by Laws 2015, ch
0.0K chars
Repealed by Laws 2015, ch. 68, § 2.
W.S. § 13-6-306 Conversion to state association; effect
0.3K chars
Conversion to state association; effect. When a conversion is effective, all the property of the federal savings and loan association continues to be vested in the association as a state savings and loan association. The state savings and loan association shall remain responsible…
W.S. § 13-6-401 When state banking commissioner to take charge; refusal to so permit
0.7K chars
When state banking commissioner to take charge; refusal to so permit. (a) If it appears to the state banking commissioner that the affairs of any savings and loan association are in an unsound condition or that it is conducting its business in an unsafe or unlawful manner, the st…
W.S. § 13-6-402 Directors to relieve unsound condition; duty
0.6K chars
Directors to relieve unsound condition; duty. If it appears that the affairs of the association are in fact in an unsound condition, the state banking commissioner shall at once notify in writing the board of directors of the association of his decision, giving them twenty (20) d…
W.S. § 13-6-403 Directors to relieve unsound condition; failure
0.4K chars
Directors to relieve unsound condition; failure. If the affairs of the association are not restored within the twenty (20) days, the state banking commissioner shall report the facts to the attorney general, who shall institute proceedings in the district court of the proper coun…
W.S. § 13-6-404 Losses exceeding reserves or earnings
0.3K chars
Losses exceeding reserves or earnings. Whenever the losses of an association exceed the reserve account they may be charged against the undivided earnings, if any, and if they also exceed undivided earnings, the state banking commissioner may proceed to wind up the affairs of suc…
W.S. § 13-6-405 Banking commissioner to be appointed receiver; assistants; bonding requirements
1.0K chars
Banking commissioner to be appointed receiver; assistants; bonding requirements. The state banking commissioner shall be appointed the receiver for any savings and loan association. No fee shall be allowed the state banking commissioner as the receiver, but he may appoint, upon t…
W.S. § 13-6-406 Priority of claims
0.7K chars
Priority of claims. (a) The claim of the owners of guaranty capital stock in an association is junior to the claim of savings and investment account holders and no part of the guaranty capital shall be withdrawn or retired until all savings and investment account holders have bee…
W.S. § 13-7-101 Generally
1.3K chars
Generally. (a) Except as otherwise provided any association shall have the powers provided for in the general laws of this state relating to the creation and regulation of private corporations and in addition thereto shall have power, subject to the terms and conditions contained…
W.S. § 13-7-102 Organization of savings and loan associations
0.5K chars
Organization of savings and loan associations. (a) It is the purpose of this section to authorize the organization and operation of state savings and loan associations according to the laws of the state of Wyoming which have the same powers and are subject to the restrictions pro…
W.S. § 13-7-103 Reports; examinations; membership in federal home loan bank
0.3K chars
Reports; examinations; membership in federal home loan bank. (a) Repealed by Laws 2015, ch. 68, § 2. (b) A state savings and loan association may do all things necessary to obtain and to continue membership in the federal home loan bank and to obtain advances from it.
W.S. § 13-7-104 Real estate and personal property
1.7K chars
Real estate and personal property. (a) Except as provided in W.S. 13-7-102, any association may acquire, hold, encumber and convey real estate and personal property necessary for the transaction of its business or necessary to enforce or to protect its securities but it shall not…
W.S. § 13-7-201 "Member" defined
0.4K chars
"Member" defined. A member of a state savings and loan association is any person owning a savings account or investment certificate or any person borrowing from or assuming a loan held by an association or obligated upon a loan held by an association through purchase. Savings and…