Section 13-9-311 – Procedures Relating to Applications.
13-9-311. Procedures relating to applications. The commissioner shall decide whether to approve an acquisition under this article within ninety (90) days after receipt of a completed application, and if approved, shall within the ninety (90) day period, issue a certificate of authority permitting the acquisition.
Section 13-9-312 – Reports; Examinations.
13-9-312. Reports; examinations. (a) To the extent specified by the commissioner by regulation, order or written request, each bank holding company that directly or indirectly controls a Wyoming bank or a Wyoming bank holding company, or the home state supervisor of the company, shall submit to the commissioner: (i) One (1) or more copies of […]
Section 13-9-313 – Agency Activities.
13-9-313. Agency activities. (a) Any Wyoming state bank may upon compliance with the requirements of this section, agree to receive deposits, renew time deposits, close loans, receive payments on loans and other obligations and perform other services as agent for any affiliated insured depository institution. (b) A Wyoming state bank that proposes to enter into […]
Section 13-9-315 – Penalties.
13-9-315. Penalties. The commissioner may enforce the provisions of this article by any appropriate action in the Laramie county district court of this state, including an action for civil money penalties or injunctive relief. The commissioner shall promptly give notice to the home state supervisor of any enforcement action initiated against an out-of-state bank holding […]
Section 13-9-316 – Authority to Adopt Rules and Regulations; Cooperative Agreements; Fees.
13-9-316. Authority to adopt rules and regulations; cooperative agreements; fees. (a) In order to carry out the purposes of this article the commissioner may: (i) Repealed By Laws 1999, ch. 42, § 3. (ii) Enter into cooperative, coordinating or information-sharing agreements with any other bank supervisory agency or any organization affiliated with or representing one […]
Section 13-9-306 – Scope; Legislative Intent.
13-9-306. Scope; legislative intent. This article sets forth the conditions under which a company may acquire a Wyoming bank or a Wyoming bank holding company. This article shall not be interpreted to discriminate against out-of-state bank holding companies or against foreign bank holding companies in any manner that would violate 12 U.S.C. section 1842(d) of […]
Section 13-9-307 – Definitions.
13-9-307. Definitions. (a) For purposes of this article: (i) “Acquire” means: (A) For a company to merge or consolidate with a bank holding company; (B) For a company to assume direct or indirect ownership or control of: (I) More than twenty-five percent (25%) of any class of voting ownership interests of a bank holding company […]
Section 13-9-308 – Permitted Acquisitions.
13-9-308. Permitted acquisitions. (a) Except as otherwise expressly permitted by federal law, no company may acquire a Wyoming bank holding company or a Wyoming bank without the prior approval of the commissioner. (b) The prohibition in subsection (a) of this section shall not apply where the acquisition is made: (i) Solely for the purpose of […]
Section 13-9-309 – Required Application; Fees.
13-9-309. Required application; fees. (a) A company that proposes to make an acquisition under this article shall: (i) Pay to the commissioner an application fee established by rule and regulation of the commissioner; (ii) File with the commissioner a copy of the application that the company has filed with the responsible federal bank supervisory agency. […]
Section 13-9-310 – Standards for Approval.
13-9-310. Standards for approval. (a) In deciding whether to approve an application for a proposed acquisition under this article, the commissioner shall consider whether: (i) There is or recently has been evidence of criminal activity on the part of the applicant or any of its officers or directors; (ii) The acquisition may be detrimental to […]