Section 40-22-105 – License Requirements.
40-22-105. License requirements. (a) Each licensee shall at all times have a net worth of not less than twenty-five thousand dollars ($25,000.00), as calculated in accordance with generally accepted accounting principles. (b) Every corporate applicant at the time of filing of an application for a license and at all times after a license is issued, […]
Section 40-22-106 – Bond or Other Security Device.
40-22-106. Bond or other security device. (a) A surety bond, irrevocable letter of credit or other similar security device acceptable to the commissioner shall be provided with a license application or upon approval of the application, as determined by the applicant. An application without a security device may be conditionally approved by the commissioner pending […]
Section 40-22-107 – Permissible Investments and Statutory Trust.
40-22-107. Permissible investments and statutory trust. (a) Each licensee shall at all times possess permissible investments having an aggregate market value calculated in accordance with generally accepted accounting principles, of not less than the aggregate face amount of all outstanding payment instruments issued or sold by the licensee in the United States. This requirement may […]
Section 40-22-108 – Application for License.
40-22-108. Application for license. (a) Each application for a license shall be made in writing and in a form prescribed by the commissioner. Each application shall include the following: (i) The exact name of the applicant, the applicant’s principal address, any fictitious or trade name used by the applicant in the conduct of its business […]
Section 40-22-109 – Application Fee.
40-22-109. Application fee. Each application shall be accompanied by a nonrefundable application fee not to exceed three thousand dollars ($3,000.00) for each license applied for, as set by rule of the commissioner. Any fee charged and collected under this section shall be in accordance with W.S. 13-1-603(d) through (f).
Section 40-22-104 – Exemptions; Applicability.
40-22-104. Exemptions; applicability. (a) This act shall not apply to: (i) The United States or any department, agency, or instrumentality thereof; (ii) The United States post office; (iii) The state or any political subdivisions thereof; (iv) Banks, bank holding companies, credit unions, building and loan associations, savings and loan associations, savings banks or mutual banks […]
Section 40-21-114 – Automated Transaction.
40-21-114. Automated transaction. (a) In an automated transaction, the following rules apply: (i) A contract may be formed by the interaction of electronic agents of the parties, even if no individual was aware of or reviewed the electronic agents’ actions or the resulting terms and agreements; (ii) A contract may be formed by the interaction […]
Section 40-21-115 – Time and Place of Sending and Receipt.
40-21-115. Time and place of sending and receipt. (a) Unless otherwise agreed between the sender and the recipient, an electronic record is sent when it: (i) Is addressed properly or otherwise directed properly to an information processing system that the recipient has designated or uses for the purpose of receiving electronic records or information of […]
Section 40-21-116 – Transferable Records.
40-21-116. Transferable records. (a) In this section, “transferable record” means an electronic record that: (i) Would be a note under article 3 of the Uniform Commercial Code or a document under article 7 of the Uniform Commercial Code if the electronic record were in writing; and (ii) The issuer of the electronic record expressly has […]
Section 40-21-117 – Creation and Retention of Electronic Records and Conversion of Written Records by Government Agencies.
40-21-117. Creation and retention of electronic records and conversion of written records by government agencies. Each governmental agency shall determine whether, and the extent to which, a governmental agency will create and retain electronic records and convert written records to electronic records.