Title 13, Title 13 — Banks, Banking And Finance
12 chapters · 326 sections in this title.
W.S. § 13-2-310 Issuance of capital notes or debentures; approval by state banking commissioner
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Issuance of capital notes or debentures; approval by state banking commissioner. The state banking commissioner may approve the issue of capital notes or debentures by any bank. Applications for approval shall be in writing and contain information which he requests including a fu…
W.S. § 13-2-311 Capital notes or debentures; provisions to be stated
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Capital notes or debentures; provisions to be stated. (a) The following provisions shall be stated in the capital notes or debentures: (i) That the notes or debentures are an unsecured indebtedness of the bank and subordinate to the claims of creditors and depositors; (ii) In the…
W.S. § 13-2-312 Capital notes or debentures; conversion into common or preferred stock
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Capital notes or debentures; conversion into common or preferred stock. Capital notes and debentures may be converted into shares of common or preferred stock in accordance with the provisions of the capital notes or debentures. If capital notes or debentures are converted the pr…
W.S. § 13-2-313 Capital notes or debentures; no assessment or liability
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Capital notes or debentures; no assessment or liability. Capital notes, debentures and the holders thereof are not subject to any assessment nor are holders of the notes or debentures liable for any debts or contracts of the bank.
W.S. § 13-2-314 Capital notes or debentures; proceeds not part of capital or surplus
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Capital notes or debentures; proceeds not part of capital or surplus. (a) The proceeds from the sale of capital notes or debentures shall not be considered a portion of the capital or surplus of the issuing bank nor treated as meeting any requirements, restrictions or conditions …
W.S. § 13-2-401 Authority to manage banks; qualifications
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Authority to manage banks; qualifications. The affairs of a bank shall be managed by not less than five (5) directors. Shareholders or the board of directors if provided by the articles of incorporation may adopt and amend bylaws for the management of the bank. Each director shal…
W.S. § 13-2-402 Election; term; vacancies; number
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Election; term; vacancies; number. (a) The initial and elected directors of any bank 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. All elections shall be held …
W.S. § 13-2-403 Meetings; record of proceedings and business
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Meetings; record of proceedings and business. (a) The board of directors of a bank shall hold a regular meeting every quarter of the calendar year. At each meeting a detailed report showing every loan and investment in excess of one percent (1%) of the bank's capital and surplus …
W.S. § 13-2-404 Liability
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Liability. Any director who participates in or consents to any action of a bank in making loans in excess of or contrary to law or regulations shall be liable in his individual capacity for damages proximately sustained by the bank, its stockholders or other persons.
W.S. § 13-2-701 Definitions
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Definitions. (a) As used in this act: (i) "Branch" means any manned branch bank, branch office, branch agency, additional office, separate office or any branch or separate place of business operated by a parent bank in this state which offers any or all of the banking services co…
W.S. § 13-2-702 Authorization; application; fee; activities; examination; criteria
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Authorization; application; fee; activities; examination; criteria. (a) With prior approval of the state banking commissioner a bank may establish and operate one (1) or more branches at any location in this state or in a state other than Wyoming. (i) Repealed By Laws 1999, ch. 4…
W.S. § 13-2-703 Amendment to articles of incorporation
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Amendment to articles of incorporation. Before opening a branch under this act, the applicant bank shall deliver an amendment to its articles of incorporation reflecting the branch to the commissioner in the same manner provided in W.S. 13-4-102. W.S. 13-4-102 applies to all amen…
W.S. § 13-2-704 Closing of a branch
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Closing of a branch. No branch shall be closed unless the parent bank certifies to the commissioner that all persons with an account at that branch have been notified of the date of closure not less than sixty (60) days before the date of closure and that a notice indicating the …
W.S. § 13-2-705 Bank facility not a branch
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Bank facility not a branch. (a) Notwithstanding any other provision of this act, a bank may establish and operate a facility which shall not be considered a branch, but an extension or expansion of an existing parent bank or branch if the facility is: (i) Within the boundary line…
W.S. § 13-2-706 No limits on authority of existing branches and banks
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No limits on authority of existing branches and banks. Nothing in this act shall limit the authority of any existing branch or bank operating at the time this act takes effect.
W.S. § 13-2-707 Prohibition on foreign bank branching
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Prohibition on foreign bank branching. Nothing in this act shall be construed as permitting a bank to establish a branch in any state other than Wyoming. Except as provided in W.S. 13-2-702(m) and 13-2-901 through 13-2-904, a bank not authorized or organized to do business under …
W.S. § 13-2-708 Antitrust laws
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Antitrust laws. If, but for this act, any action by any one (1) or more banks would be in violation of the laws of this state or of the United States, commonly referred to as the antitrust laws, then this act shall be construed so as to permit or require only actions that shall n…
W.S. § 13-2-709 Loan production offices; activities; notification; examination; name
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Loan production offices; activities; notification; examination; name. (a) After notifying the commissioner, a bank may establish and operate one (1) or more loan production offices. A loan production office may conduct any of the following activities: (i) Solicit loans on behalf …
W.S. § 13-2-802 Definitions
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Definitions. (a) As used in this article: (i) "Affiliate" has the meaning set forth in the Bank Holding Company Act, 12 U.S.C. section 1841(k); (ii) "Bank" has the meaning set forth in 12 U.S.C. section 1813(h), provided that the term "bank" shall include a foreign bank only if o…
W.S. § 13-2-803 Authority of state banks to establish interstate branches
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Authority of state banks to establish interstate branches. With the prior approval of the commissioner, a Wyoming state bank may establish, maintain and operate one (1) or more branches in a state other than Wyoming. Not later than the date on which the required application for t…
W.S. § 13-2-804 Interstate merger transactions and branching permitted
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Interstate merger transactions and branching permitted. (a) One (1) or more Wyoming banks may enter into an interstate merger transaction with one (1) or more out-of-state banks under this article, and an out-of-state bank resulting from the transaction may maintain and operate t…
W.S. § 13-2-805 Notice and filing requirements; license fee
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Notice and filing requirements; license fee. (a) Any out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving a Wyoming bank shall notify the commissioner of the proposed merger not later than the date on which it files an applicati…
W.S. § 13-2-806 Powers; additional branches
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Powers; additional branches. (a) An out-of-state state bank which establishes and maintains one (1) or more branches in Wyoming under this article may conduct any activities at the branch or branches that are authorized under the laws of this state for branches of Wyoming state b…
W.S. § 13-2-807 Examinations; periodic reports; cooperative agreements; assessment of fees
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Examinations; periodic reports; cooperative agreements; assessment of fees. (a) To the extent consistent with subsection (c) of this section, the commissioner may make such examinations of any branch established and maintained in this state pursuant to this article by an out-of-s…
W.S. § 13-2-808 Enforcement
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Enforcement. The commissioner may take joint enforcement actions with any other bank supervisory agency having concurrent jurisdiction over any branch in Wyoming of an out-of-state bank or any branch of a Wyoming state bank in any host state or may take such action independently …
W.S. § 13-2-810 Notice of subsequent merger
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Notice of subsequent merger. Each out-of-state state bank that has established and maintains a branch in this state pursuant to this article, or the home state supervisor of the bank, shall give at least thirty (30) days prior written notice (or, in the case of an emergency trans…
W.S. § 13-2-901 Purpose
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Purpose. (a) This article is intended generally to ensure that: (i) Interstate state branches of out-of-state foreign banks may be established and operated in this state: (A) To the extent consistent with the provisions of 12 U.S.C. section 3103; and (B) Under terms and condition…
W.S. § 13-2-902 Definitions
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Definitions. (a) As used in this article: (i) "Foreign bank" means any company organized under the laws of a foreign country, a territory of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands, that engages directly in the business of banking. The term incl…
W.S. § 13-2-903 Establishment of interstate branches by out-of-state foreign banks
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Establishment of interstate branches by out-of-state foreign banks. An out-of-state foreign bank may establish an interstate Wyoming state branch in the same manner as, and subject to the same criteria, standards, conditions, requirements and procedures applicable to the establis…
W.S. § 13-2-904 Establishment of interstate branches by out-of-state domestic banks owned or controlled by foreign banks or other foreign persons
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Establishment of interstate branches by out-of-state domestic banks owned or controlled by foreign banks or other foreign persons. An out-of-state domestic bank owned or controlled by a foreign bank or other foreign person may establish an interstate Wyoming state branch in the s…
W.S. § 13-3-101 Bond required of officers and employees
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Bond required of officers and employees. The state banking commissioner may require all active officers and employees of banks to furnish a fidelity bond in duplicate in an amount to be fixed by the state banking commissioner and written by a surety company authorized to do busin…
W.S. § 13-3-102 Loans to executive officers, directors, principal shareholders or others with ownership interests
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Loans to executive officers, directors, principal shareholders or others with ownership interests. No bank shall loan any of its funds to executive officers, directors or to any person owning or controlling ten percent (10%) or more of the bank's or its bank holding company's vot…
W.S. § 13-3-103 Preference to depositors or creditors prohibited; exceptions
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Preference to depositors or creditors prohibited; exceptions. A bank shall not give preference to any depositor or creditor by pledging the assets of the bank as security except that the bank may qualify as depository for United States deposits, postal savings funds or other publ…
W.S. § 13-3-201 Acquisition of real estate
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Acquisition of real estate. (a) No bank shall purchase, hold, convey or lease real estate except for the following purposes: (i) Real estate and buildings necessary to transact the business of a bank including its banking offices and other premises in the same buildings to rent a…
W.S. § 13-3-202 Investment in stock of other corporations
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Investment in stock of other corporations. (a) No bank shall invest any of its assets in the capital stock of any other corporation except as follows: (i) In the capital stock of a federal reserve bank; (ii) In stock acquired to save a loss on a preexisting debt which shall be so…
W.S. § 13-3-203 Borrowing
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Borrowing. (a) A bank may borrow on and pledge assets of the bank as security for temporary purposes. If it appears that any bank is habitually borrowing for the purpose of reloaning the state banking commissioner may require the bank to pay off the borrowed money. A bank is not …
W.S. § 13-3-204 Operating subsidiaries; application; fee; new activities
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Operating subsidiaries; application; fee; new activities. (a) With prior written approval of the commissioner, a bank may purchase for its own account the stock in a corporation to perform functions that are authorized for the bank or that are usual or incidental to the business …
W.S. § 13-3-301 Losses to be charged to surplus fund
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Losses to be charged to surplus fund. Any losses sustained by a bank in excess of its undivided profits shall be charged to its surplus fund. The surplus fund shall subsequently be reimbursed from earnings. No dividends shall be declared or paid by any bank in excess of one-half …
W.S. § 13-3-302 Bad debts
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Bad debts. All demand and matured debts due to any bank on which interest has not been paid for a period of at least twelve (12) months, unless in the judgment of the state banking commissioner the debts are well secured or are in the process of collection, are bad debts and shal…
W.S. § 13-3-303 Value of stocks held
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Value of stocks held. All investments in any bank in stocks of any corporation authorized by W.S. 13-3-202 shall be entered on the books of the bank at a sum not to exceed the actual cost to the bank. The state banking commissioner may require an asset to be charged down to its a…
W.S. § 13-3-304 Dividends
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Dividends. (a) The board of directors may, quarterly, semiannually or annually, declare a dividend of so much of the net profits of the bank as they judge proper, except that no dividends shall be declared until the surplus fund of the bank equals its common capital unless there …
W.S. § 13-3-401 Real estate loans
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Real estate loans. (a) Any bank may make real estate loans upon real estate secured by a mortgage, deed of trust or other instrument of similar security which comprises a lien upon the secured property. A bank may make a real estate loan or purchase these obligations in whole or …
W.S. § 13-3-402 Individual indebtedness limitations; generally
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Individual indebtedness limitations; generally. (a) Except as otherwise provided, no bank shall permit any person, firm, partnership, association or corporation to become indebted at origination to the bank in an amount exceeding twenty percent (20%) of the amount of the capital …
W.S. § 13-3-403 Individual indebtedness limitations; exceptions generally
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Individual indebtedness limitations; exceptions generally. (a) The limitation of W.S. 13-3-402 does not apply to the following: (i) Repealed by Laws 1992, ch. 46, § 2. (ii) Repealed by Laws 1992, ch. 46, § 2. (iii) Repealed by Laws 1992, ch. 46, § 2. (iv) Obligations in the form …
W.S. § 13-3-404 Individual indebtedness limitations; exceptions generally; federal obligations
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Individual indebtedness limitations; exceptions generally; federal obligations. (a) W.S. 13-3-402 and 13-3-403 do not restrict the making of loans in excess of the limitations to the extent that the repayment of principal and interest is: (i) An obligation of the United States; (…
W.S. § 13-3-405 Acceptance of drafts and bills of exchange
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Acceptance of drafts and bills of exchange. (a) Drafts or bills of exchange, drawn upon a bank having not more than six (6) months' sight to run, may be accepted by a bank. Letters of credit may be issued by a bank only if they are based upon actual commercial or agricultural tra…
W.S. § 13-3-501 Retention generally
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Retention generally. Each bank in this state shall retain its business records for the periods prescribed by W.S. 13-3-501 through 13-3-507. W.S. 13-3-501 through 13-3-507 apply to national banks and trust companies where not in conflict with federal law, rule or regulation.
W.S. § 13-3-502 Permanent records
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Permanent records. Each bank 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 bank in lieu thereof), its daily statements …
W.S. § 13-3-503 Records retained 3 years
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Records retained 3 years. All bank records pertaining to other parties such as safekeeping and escrow records shall be retained for three (3) years after the completion of the transactions pertaining to the records.
W.S. § 13-3-504 Requirements of state banking commissioner
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Requirements of state banking commissioner. All other bank records shall be retained for the periods prescribed by the state banking commissioner.