Title 13, Title 13 — Banks, Banking And Finance
12 chapters · 326 sections in this title.
W.S. § 13-1-101 Definitions
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Definitions. (a) As used in this act, unless another definition is specifically provided for a section, article or chapter of this act: (i) "Bank" means any corporation, excluding national banks, having a place of business within this state which engages in banking business, and …
W.S. § 13-1-201 General applicability
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General applicability. (a) Subject to W.S. 13-12-102, this act applies to all banks in this state organized under this act and to national banks where specifically provided by the text. (b) The Financial Technology Sandbox Act shall apply to this act.
W.S. § 13-1-202 Foreign corporations
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Foreign corporations. (a) A foreign corporation does not transact banking business in Wyoming by reason of the following activities: (i) Purchasing evidences of debt, mortgages or liens on property; (ii) Securing or collecting debts or enforcing any rights in property securing th…
W.S. § 13-1-203 Compliance required
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Compliance required. No person or entity shall carry on a banking business except in compliance with this act or W.S. 13-12-101 through 13-12-126.
W.S. § 13-1-204 Use of terms or names
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Use of terms or names. (a) No person or entity shall advertise, issue or circulate any paper or exhibit any sign using any of the terms "bank", "banker", "banking", "special purpose depository institution", or words of similar import, or use the name of any other financial instit…
W.S. § 13-1-205 Financial institutions; consumer reports; encumbrance of assets; immunity
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Financial institutions; consumer reports; encumbrance of assets; immunity. (a) Any financial institution as defined in W.S. 13-1-101(a)(ix), national chartered credit union, benefit association, insurance company, safe deposit company, money market mutual fund or similar entity a…
W.S. § 13-1-206 Financial institutions; fiduciary and custodial accounts; bankruptcy and receivership treatment
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Financial institutions; fiduciary and custodial accounts; bankruptcy and receivership treatment. (a) Covered accounts under the administration or management of a financial institution, as defined in W.S. 13-1- 101(a)(ix), that meet the requirements of subsection (b) of this secti…
W.S. § 13-1-301 Banks
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Banks. (a) Any bank may close on legal holidays and Saturday. Each day the bank is closed is not a business day. Any act required or permitted to be performed by a bank on Saturday may be performed on the next succeeding business day and no liability or loss of rights shall resul…
W.S. § 13-1-401 Definitions
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Definitions. (a) For purposes of this article: (i) "Consumer deposit account" means a demand or other similar deposit account established and maintained by a natural person with a financial institution and operated primarily for personal, family or household purposes; (ii) "Finan…
W.S. § 13-1-402 Disclosure of date when account opened; exception; penalty
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Disclosure of date when account opened; exception; penalty. (a) All checks, drafts or similar negotiable or nonnegotiable instruments or orders of withdrawal which are drawn against funds held by a financial institution located in Wyoming in a consumer deposit account shall, for …
W.S. § 13-1-501 Definitions
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Definitions. (a) As used in this article: (i) "Wyoming financial institution" means any bank, savings and loan association or trust company chartered or organized under the laws of Wyoming; (ii) "Financial institution" means any bank, savings and loan association, trust company o…
W.S. § 13-1-502 Remote electronic terminals
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Remote electronic terminals. (a) A Wyoming financial institution may operate remote electronic terminals without geographic restriction, subject to the requirements and limitations of this article. A financial institution or person may operate remote electronic terminals in this …
W.S. § 13-1-601 State banking commissioner; designation; appointment; removal
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State banking commissioner; designation; appointment; removal. The supervisor of the division of banking within the department of audit shall be designated the state banking commissioner. The commissioner shall be appointed by the director of the state department of audit, and sh…
W.S. § 13-1-602 State banking commissioner; qualifications; compensation
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State banking commissioner; qualifications; compensation. (a) The commissioner shall have not less than seven (7) years experience in the commercial banking industry, or seven (7) years experience as an examiner or administrative officer with the federal deposit insurance corpora…
W.S. § 13-1-603 State banking commissioner; powers and duties
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State banking commissioner; powers and duties. (a) The commissioner shall administer the laws and regulations governing the organization, operation, examination, reorganization or dissolution of banks in Wyoming. The commissioner is directly responsible to and subject to the dire…
W.S. § 13-1-604 State banking board created; purpose; membership; appointment; qualifications; term of office
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State banking board created; purpose; membership; appointment; qualifications; term of office. (a) There is created within the division of banking in the department of audit a state banking board. The board shall consult with and provide advice and counsel to the commissioner and…
W.S. § 13-1-605 State banking board; meetings; compensation; purpose
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State banking board; meetings; compensation; purpose. (a) The board shall meet when called by the commissioner or when requested by a majority of the members of the board. Members of the board shall receive the same salary, mileage and per diem for attending and traveling to and …
W.S. § 13-1-606 State banking board; procedures and practices
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State banking board; procedures and practices. In addition to other powers conferred by law, the board may regulate its own procedures and practices as provided by the Wyoming Administrative Procedure Act.
W.S. § 13-1-701 Definitions
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Definitions. (a) As used in this article: (i) "Agent" means as defined in W.S. 17-4-102(a)(ii); (ii) "Department" means the department of family services; (iii) "Financial exploitation" means: (A) The wrongful or unauthorized taking, withholding, appropriation or use of the money…
W.S. § 13-1-702 Reporting financial exploitation of vulnerable adults
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Reporting financial exploitation of vulnerable adults. (a) If a qualified person has cause to believe that financial exploitation of a vulnerable adult has occurred, is occurring or has been attempted, the qualified person shall notify the financial institution of the suspected f…
W.S. § 13-1-703 Notifying third parties of suspected financial exploitation of vulnerable adults
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Notifying third parties of suspected financial exploitation of vulnerable adults. If a financial institution submits a report of suspected financial exploitation of a vulnerable adult to the department under this article, the financial institution may, at the time the financial i…
W.S. § 13-1-704 Temporary hold on transactions
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Temporary hold on transactions. (a) Notwithstanding any other state law, a financial institution: (i) May place a hold on any transaction that involves an account of a vulnerable adult or that contains the vulnerable adult's assets or property if the financial institution: (A) Su…
W.S. § 13-1-705 Immunity
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Immunity. (a) A qualified person who provides notification under W.S. 13-1-702(a), a financial institution that submits a report under W.S. 13-1-702(b) or provides notification to a third party under W.S. 13-1-703 and a qualified person or financial institution that testifies or …
W.S. § 13-1-706 Records
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Records. To the extent permitted by state and federal law, a financial institution shall provide, on request, access to or copies of records relevant to the suspected financial exploitation of a vulnerable adult to the department, a law enforcement agency or a district attorney's…
W.S. § 13-1-801 Definitions
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Definitions. (a) For purposes of this article: (i) "Customer data" means a customer's banking, transaction and other financial data; (ii) "Express written consent" means a customer's affirmative written response to a clear and conspicuous notice regarding the collection, use or d…
W.S. § 13-1-802 Open banking authorized; regulation
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Open banking authorized; regulation. (a) A bank may participate in and provide for open banking. (b) A bank participating in and providing for open banking shall comply with all applicable state and federal laws and regulations including laws and regulations related to the protec…
W.S. § 13-2-101 Generally
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Generally. (a) Each bank may: (i) Make contracts in its corporate name; (ii) Sue and be sued; (iii) Lend money on real and personal securities; (iv) Buy, sell and discount bills of exchange, notes and all other written evidence of debt except as otherwise provided; (v) Receive no…
W.S. § 13-2-102 Perpetual duration
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Perpetual duration. A bank shall have perpetual duration except as otherwise provided by the articles of incorporation.
W.S. § 13-2-103 Federal deposit insurance
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Federal deposit insurance. (a) All banks, except special purpose depository institutions, shall obtain insurance of their deposits by the United States and shall subscribe for insurance of deposit accounts by the federal deposit insurance corporation (FDIC). (b) Nothing in this s…
W.S. § 13-2-201 Organization and application
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Organization and application. Five (5) or more adult persons may organize a corporation for the purpose of carrying on general banking business in a place in this state designated in the articles of incorporation subject to the conditions prescribed by law. The incorporators shal…
W.S. § 13-2-202 Articles of incorporation
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Articles of incorporation. (a) The articles of incorporation shall include the following information: (i) The corporate name; (ii) The object for which the corporation is organized; (iii) The term of its existence which may be perpetual; (iv) The place where its office shall be l…
W.S. § 13-2-207 Procedure upon filing of articles of incorporation, application and other information
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Procedure upon filing of articles of incorporation, application and other information. Upon filing with the state banking commissioner the articles of incorporation as required by W.S. 13-2-201 and 13-2-202, an application and any other information required by the rules and regul…
W.S. § 13-2-208 Application filing fee
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Application filing fee. The application filed with the state banking commissioner shall be accompanied by a fee established by rule and regulation of the state banking commissioner to cover the expense of the investigation by the state banking commissioner, the expense of the pub…
W.S. § 13-2-209 Procedure for hearings on charter applications
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Procedure for hearings on charter applications. The hearing for a charter application shall be conducted as a contested case under the Wyoming Administrative Procedure Act and shall comply with the requirements of that act.
W.S. § 13-2-210 Emergency charters; fees
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Emergency charters; fees. (a) Notwithstanding any other provisions contained in this act, a financial institutions charter may be granted by the state banking commissioner without a hearing in any case determined by the state banking commissioner to be an emergency arising from t…
W.S. § 13-2-211 Investigation and examination by banking commissioner
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Investigation and examination by banking commissioner. (a) Upon receiving the articles of incorporation, application and other information required, the state banking commissioner shall make a careful investigation and examination of the following: (i) The character, reputation, …
W.S. § 13-2-212 Approval or disapproval of application; criteria for approval; action upon application; interim bank charter; fee
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Approval or disapproval of application; criteria for approval; action upon application; interim bank charter; fee. (a) Within ninety (90) days after receipt of the transcript of the public hearing, the board shall in its discretion approve, conditionally approve or disapprove the…
W.S. § 13-2-213 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 financial institution shall not commence business before receiving a certificate of author…
W.S. § 13-2-214 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 institution is to be located in accordance with the pr…
W.S. § 13-2-215 Report of interests in financial institutions by state banking commissioner and board members
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Report of interests in financial institutions by state banking commissioner and board members. On or before January 10 of each calendar year the state banking commissioner and each member of the board shall submit to the governor a list of all assets and liabilities of any nature…
W.S. § 13-2-216 Conversion of special purpose depository institution into state bank
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Conversion of special purpose depository institution into state bank. (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 state bank chartered under this article. A conversion sh…
W.S. § 13-2-301 Requirements as to capital
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Requirements as to capital. (a) The capital stock of each bank organized under this act shall be subscribed for as fully paid stock. No bank shall organize with a capital stock less than five million dollars ($5,000,000.00). (b) No bank shall commence business until the full amou…
W.S. § 13-2-302 Issue of stock
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Issue of stock. (a) A bank shall not issue any share of stock until the par value of the share has been actually paid in cash. (b) Pursuant to appropriate authority granted in its articles of incorporation, a bank may issue any type of capital stock, including nonvoting shares, a…
W.S. § 13-2-303 Increase or reduction of capital stock
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Increase or reduction of capital stock. Any bank may increase or reduce the capital stock of the bank after receiving the written approval of the state banking commissioner and by the vote of the shareholders owning two-thirds (2/3) of the stock in the bank at a stockholders' mee…
W.S. § 13-2-304 Transfer of stock and other ownership interests
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Transfer of stock and other ownership interests. (a) The shares of stock of banks are personal property and shall be transferred on the books of the bank in such manner as the bylaws may provide. A transfer of stock in a bank is invalid until any impairment of its capital stock h…
W.S. § 13-2-305 Purchase or acceptance of own capital stock
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Purchase or acceptance of own capital stock. A bank shall not accept as collateral or purchase its own capital stock unless the taking of the collateral or purchase is necessary to prevent loss upon a debt previously contracted in good faith. The stock shall be sold by the bank w…
W.S. § 13-2-306 Stock register; inspection
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Stock register; inspection. A bank shall keep a record of shareholders that is open for inspection during business hours to officers, directors and shareholders of the bank. As used in this section, "record of shareholders" means as defined in W.S. 17-16-140(a)(xlix).
W.S. § 13-2-307 Voting by shareholders generally; balloting for directors
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Voting by shareholders generally; balloting for directors. (a) Except as otherwise provided by W.S. 13-2-302, each share entitles the owner to one (1) vote on all elections of directors and all other questions submitted at meetings of shareholders. Shareholders may vote by proxie…
W.S. § 13-2-308 Preferred stock
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Preferred stock. (a) A bank may issue one (1) or more classes of preferred stock upon the approval of two-thirds (2/3) of the stockholders pursuant to this section and the approval of the state banking commissioner. (b) Copies of the directors' and stockholders' minutes approving…
W.S. § 13-2-309 Issuance of capital notes or debentures; generally
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Issuance of capital notes or debentures; generally. (a) A bank may issue, sell or pledge its capital notes or debentures if the bank has first obtained the written or voting approval of the shareholders holding a majority of the shares of the bank and the written approval of the …