Section 13-12-117 – Decisions by Board Appealable; Grounds.
13-12-117. Decisions by board appealable; grounds. Any decision of the board or commissioner in approving, conditionally approving or disapproving a charter for a special purpose depository institution or the issuance or denial of a certificate of authority to operate is appealable to the district court of the county in which the institution is to be […]
Section 13-12-118 – Surety Bond; Pledged Investments; Investment Income; Bond or Pledge Increases; Hearings.
13-12-118. Surety bond; pledged investments; investment income; bond or pledge increases; hearings. (a) Except as otherwise provided by subsection (b) of this section, a special purpose depository institution 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 liquidation […]
Section 13-12-119 – Reports and Examinations; Supervisory Fees; Required Private Insurance or Bond.
13-12-119. Reports and examinations; supervisory fees; required private insurance or bond. (a) The commissioner may call for reports verified under oath from a special purpose depository institution at any time as necessary to inform the commissioner of the condition of the institution. (b) All reports required of special purpose depository institutions by the commissioner and […]
Section 13-12-120 – Suspension or Revocation of Charter.
13-12-120. Suspension or revocation of charter. (a) The commissioner may suspend or revoke the charter of a special purpose depository institution if, after notice and opportunity for a hearing, the commissioner determines that: (i) The special purpose depository institution has failed or refused to comply with an order issued under W.S. 13-10-201 through 13-10-209; (ii) […]
Section 13-12-121 – Continuing Jurisdiction.
13-12-121. Continuing jurisdiction. If the charter of a special purpose depository institution is surrendered, suspended or revoked, the institution shall continue to be subject to the provisions of this chapter during any liquidation or conservatorship.
Section 13-12-108 – Required Disclosures.
13-12-108. Required disclosures. (a) A special purpose depository institution shall display on any internet website it maintains, and at each window or place where it accepts deposits, a sign conspicuously stating that deposits are not insured by the federal deposit insurance corporation, if applicable. (b) Upon opening an account and if applicable, a special purpose […]
Section 13-12-109 – Formation; Articles of Incorporation.
13-12-109. Formation; articles of incorporation. (a) Except as otherwise provided by subsection (e) of this section, five (5) or more adult persons may form a special purpose depository institution. The incorporators shall subscribe the articles of incorporation and transmit them to the commissioner as part of an application for a charter under W.S. 13-12-111. (b) […]
Section 13-12-110 – Required Initial Capital and Surplus; Additional Capital.
13-12-110. Required initial capital and surplus; additional capital. (a) The capital stock of each special purpose depository institution chartered under this chapter shall be subscribed for as fully paid stock. No special purpose depository institution shall be chartered with capital stock less than five million dollars ($5,000,000.00). (b) No special purpose depository institution shall commence […]
Section 13-12-111 – Application for Charter; Fee; Subaccount Created.
13-12-111. Application for charter; fee; subaccount created. (a) No person shall act as a special purpose depository institution without first obtaining a charter and certificate of authority to operate from the commissioner under this chapter. (b) The incorporators under W.S. 13-12-109(a) shall apply to the commissioner for a charter. The application shall contain the special […]
Section 13-12-102 – Applicability of Other Provisions.
13-12-102. Applicability of other provisions. (a) Except as otherwise provided in subsections (b) and (c) of this section, all other provisions of this title shall apply to this chapter. (b) The following provisions of this title shall not apply to this chapter: (i) W.S. 13-1-101(a)(vii); (ii) W.S. 13-1-201; (iii) W.S. 13-2-101; (iv) W.S. 13-2-201 through […]