State Codes and Statutes

Statutes > Wyoming > Title13 > Chapter1

CHAPTER 1 - GENERAL PROVISIONS

 

ARTICLE 1 - DEFINITIONS

 

13-1-101. Definitions.

 

(a) As used in this act, unless another definition isspecifically provided for a section, article or chapter of this act:

 

(i) "Bank" means any corporation, excluding nationalbanks, having a place of business within this state which engages in bankingbusiness;

 

(ii) "Banking business" means opening credits by thedeposit or collection of money or negotiable paper subject to be paid upon draft,receipt, check or order;

 

(iii) "Bank holding company" means a company that is abank holding company under the federal Bank Holding Company Act of 1956, asamended, 12 U.S.C. 1841, et seq., and unless the context requires otherwise,for purposes of W.S. 13-2-801 through 13-2-810 and 13-9-306 through 13-9-316includes a Wyoming bank holding company, an out-of-state bank holding companyand a foreign bank holding company;

 

(iv) "Board" means the state banking board;

 

(v) "Commissioner" means the state bankingcommissioner;

 

(vi) "Customer" means any person having an accountwith a bank or for whom a bank has agreed to collect items including a bankcarrying an account with another bank;

 

(vii) "Director" means the director of the state departmentof audit;

 

(viii) "Executive officer" means a person whoparticipates or has authority to participate, other than in the capacity of adirector, in major policymaking functions of the company or bank, whether ornot the officer has an official title, the title designates the officer anassistant, or the officer is serving without salary or other compensation. Thechairman of the board, the president, every vice president, the cashier, thesecretary and the treasurer of a company or bank are considered executiveofficers, unless the officer is excluded, by resolution of the board ofdirectors or by the bylaws of the bank or company, from participation, otherthan in the capacity of a director, in major policymaking functions of the bankor company, and the officer does not actually participate therein. Anexecutive officer of a bank includes an executive officer of a bank holdingcompany of which the bank is a subsidiary and any other subsidiary of that bankholding company, unless the executive officer of the subsidiary is excluded, byname or by title, from participation in major policymaking functions of thebank by resolutions of the boards of directors of both the subsidiary and thebank, and does not actually participate in such major policymaking functions;

 

(ix) "Financial institution" means a bank, savings andloan association, trust company or state chartered credit union;

 

(x) "Instrument" means a negotiable instrument asdefined by W.S. 34.1-3-104;

 

(xi) "Legal holiday" means:

 

(A) Any day of public thanksgiving, mourning or disasterproclaimed or appointed by the governor or president of the United States;

 

(B) A day designated a holiday by W.S. 8-4-101;

 

(C) Sundays; and

 

(D) Any day on which the federal reserve banks are closed forbusiness.

 

(xii) "National banking association" or "nationalbank" means a banking association chartered by the United States;

 

(xiii) "Officer" means any person designated an officerby the bylaws of a bank including any executive officer, the chairman of theboard of directors, the chairman of the executive committee, the president,vice-president, cashier and any trust officer, assistant vice-president,assistant treasurer, assistant cashier, assistant comptroller or any person whoperforms the duties appropriate to those offices;

 

(xiv) "This act" unless otherwise indicated means W.S.13-1-101 through 13-11-101;

 

(xv) "Trust business" means the holding out by aperson to the public at large by advertising, solicitation or other means thatsuch person is available to act as an executor, administrator, guardian,conservator or trustee in this state and accepting and undertaking to performthe duties in such a capacity in the regular course of his business.

 

ARTICLE 2 - APPLICABILITY

 

13-1-201. Generally.

 

Thisact applies to all banks in this state organized under this act and to nationalbanks where specifically provided by the text.

 

13-1-202. Foreign corporations.

 

(a) A foreign corporation does not transact banking business inWyoming by reason of the following activities:

 

(i) Purchasing evidences of debt, mortgages or liens onproperty;

 

(ii) Securing or collecting debts or enforcing any rights inproperty securing the debts.

 

13-1-203. Compliance required.

 

Noperson or entity shall carry on a banking business except in compliance withthis act.

 

13-1-204. Use of terms or names.

 

Noperson or entity shall advertise, issue or circulate any paper or exhibit anysign using any of the terms "bank", "banker","banking", or words of similar import, or use the name of any otherfinancial institution as defined by W.S. 13-1-101(a)(ix) until they have fullycomplied with this act.

 

13-1-205. Financial institutions; consumer reports; encumbrance ofassets; 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 similarentity authorized to do business in the state shall:

 

(i) Enter into an agreement with the department of familyservices to provide identifying information for each noncustodial parent whomaintains an account at the institution and who the department of familyservices identifies as owing past due child support, provided:

 

(A) Any financial institution entering into agreement with thedepartment pursuant to this section shall be entitled to recover its reasonableand necessary charges for researching or providing information pursuant to arequest;

 

(B) Each financial institution shall have an agreement with thedepartment setting a time schedule for developing an agreement for providingthe information required pursuant to this section.

 

(ii) In response to a notice of lien or levy, encumber and,pursuant to court order, surrender assets of a noncustodial parent who isidentified by the department of family services as owing past due child supportwhich are maintained at the financial institution or national chartered creditunion in a demand deposit account, checking or other negotiable withdrawalorder account, savings or share account, time deposit account or money marketmutual fund account. Any assets in an account protected under the federalEmployee Retirement Income Security Act shall be subject to a lien under thissection, but shall not be surrendered by the financial institution or nationalchartered credit union.

 

(b) 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 similarentity authorized to do business in the state shall not be liable to any personfor:

 

(i) Any disclosure of information provided to the department offamily services under this section;

 

(ii) Encumbering pursuant to notice from the department, orsurrendering pursuant to court order, any assets held by the institution orcredit union in response to a notice of lien or levy issued by the departmentof family services; or

 

(iii) Any other action taken in good faith to comply with theprovisions of this section.

 

ARTICLE 3 - OPERATING HOURS

 

13-1-301. Banks.

 

(a) Any bank may close on legal holidays and Saturday. Each daythe bank is closed is not a business day. Any act required or permitted to beperformed by a bank on Saturday may be performed on the next succeedingbusiness day and no liability or loss of rights shall result.

 

(b) If the state banking commissioner believes that anemergency exists affecting any bank, he may authorize the bank to close andshall make a public announcement of the authorization. As used in thissubsection "emergency" includes any condition which may interferewith the conduct or the normal operations of a bank or poses a threat to thesafety or security of employees or property of a bank.

 

(c) If the officers of a bank believe that conditions existwhich pose a threat to the safety or security of bank personnel or property,they may close the bank.

 

(d) A bank may close temporarily if the convenience and need ofthe local community in which the bank is located would best be served by theclosing. A bank shall not be closed for more than twenty-four (24) consecutivehours pursuant to this subsection.

 

(e) As used in this section, "bank" includes the mainoffice and any branches.

 

(f) Any transaction by a bank performed outside regular bankinghours is not invalid solely because of that fact.

 

ARTICLE 4 - CHECKING ACCOUNTS DISCLOSURES

 

13-1-401. Definitions.

 

(a) For purposes of this article:

 

(i) "Consumer deposit account" means a demand orother similar deposit account established and maintained by a natural personwith a financial institution and operated primarily for personal, family orhousehold purposes;

 

(ii) "Financial institution" means any bank, savingsand loan association, trust company or credit union having a place of businessin Wyoming, whether chartered or organized under the laws of Wyoming or thelaws of the United States. "Financial institution" includes a Wyomingbranch of an out-of-state bank resulting from an interstate merger pursuant toarticle 8 of chapter 2 of this title.

 

13-1-402. Disclosure of date when account opened; exception; penalty.

 

(a) All checks, drafts or similar negotiable or nonnegotiableinstruments or orders of withdrawal which are drawn against funds held by afinancial institution located in Wyoming in a consumer deposit account shall,for a period of not less than twelve (12) months, clearly display on the facethereof the month and year in which the account was opened. This section doesnot apply to temporary checks, drafts or similar negotiable or nonnegotiableinstruments or orders of withdrawal, or to a consumer deposit account where theapplicant either demonstrates through the production of monthly statements orrepresents in a writing, certified under sworn oath or affirmation, that fortwelve (12) months immediately preceding his application he has had an accountat the same or another financial institution. A written representation made toavoid this section is subject to W.S. 6-5-303.

 

(b) No liability or penalty shall be imposed on any depositor,financial institution or printer for an unintentional failure to comply withthis section.

 

ARTICLE 5 - REMOTE ELECTRONIC BANKING FACILITIES

 

13-1-501. 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 thelaws of Wyoming;

 

(ii) "Financial institution" means any bank, savingsand loan association, trust company or credit union chartered or organizedunder the laws of any state other than Wyoming or chartered or organized underthe laws of the United States;

 

(iii) Repealed By Laws 1999, ch. 42, 3.

 

(iv) "Person" means an individual, partnership, corporation,or any other entity, but excludes a Wyoming financial institution and afinancial institution;

 

(v) "Remote electronic terminal" means an electronicdevice, wherever located, through which a consumer may initiate an electronicfunds transfer or may order, instruct or authorize a Wyoming financialinstitution or financial institution to debit or credit an account and includesan automated teller machine, an automated loan machine or any other machine ordevice which may be used to carry out electronic banking business. "Remoteelectronic terminal" does not include point of sale terminals ortelephones or personal computers operated by a consumer.

 

13-1-502. Remote electronic terminals.

 

(a) A Wyoming financial institution may operate remote electronicterminals without geographic restriction, subject to the requirements andlimitations of this article. A financial institution or person may operateremote electronic terminals in this state without geographic restriction,subject to the requirements and limitations of this article.

 

(b) Repealed by Laws 1992, ch. 46, 2.

 

(c) Repealed By Laws 1999, ch. 42, 3.

 

(d) A Wyoming financial institution shall not use a remoteelectronic terminal to replace a branch bank unless the branch bank is to be closedin accordance with the laws of this state and unless the state bankingcommissioner has approved the closure.

 

(e) Repealed By Laws 1999, ch. 42, 3.

 

(f) A Wyoming financial institution, financial institution orperson operating remote electronic terminals in this state may impose atransaction fee for the use of the remote electronic terminal. The amount ofthe transaction fee shall be disclosed visually by placard and by electronicdisplay at a time and manner that allows a user to terminate or cancel thetransaction without incurring the transaction fee. A transaction fee may beimposed up to a maximum of two dollars ($2.00) per transaction as establishedby rules and regulations of the commissioner.

 

(g) Repealed By Laws 1999, ch. 42, 3.

 

(h) Repealed By Laws 1999, ch. 42, 3.

 

(j) No person shall operate a remote electronic terminal inthis state unless the commissioner has approved a written sponsorship agreementbetween the person and a Wyoming financial institution or a financial institutionhaving a place of business in this state. Every sponsorship agreement shallinclude the following information:

 

(i) The name, address and telephone number of the owner of theremote electronic terminal;

 

(ii) The name and address of the institution;

 

(iii) The names of the network systems that will be utilized;

 

(iv) A list of the location and address where each remoteelectronic terminal covered by the agreement will be located.

 

(k) An owner of a remote electronic terminal shall operate the terminalin compliance with applicable federal, state and local laws governing themanagement, operation and safety of the terminal. No agreement to operate orshare a remote electronic terminal shall prohibit, limit or restrict the rightof a Wyoming financial institution or other financial institution having aplace of business in this state to charge a customer any fee not prohibited bystate or federal law. No agreement to operate or share a remote electronicterminal shall require a Wyoming financial institution or other financialinstitution having a place of business in this state to limit or waive itsrights or obligations under this article.

 

(m) Each remote electronic terminal operated in this stateshall be registered with the commissioner. The banking commissioner may imposean annual fee of twenty-five dollars ($25.00) for the registration of eachremote electronic terminal.

 

(n) A Wyoming financial institution or person operating aremote electronic terminal in this state who, after receiving notice from thecommissioner, fails to comply with any of the provisions of this section orrule or regulation adopted pursuant to this section, is guilty of a misdemeanorpunishable by a fine of not less than one hundred dollars ($100.00) nor morethan five thousand dollars ($5,000.00), imprisonment for not more than one (1)year, or both.

 

(o) The attorney general, upon request from the commissioner,may bring an action in a court of competent jurisdiction for an injunction toenjoin a Wyoming financial institution, a financial institution or person fromviolating any of the provisions of this article or any rule adopted pursuant tothis article. No injunction shall be granted unless the commissioner, prior toseeking the injunction, provided written notice of the violation to theinstitution or person sought to be enjoined.

 

ARTICLE 6 - ADMINISTRATION

 

13-1-601. State banking commissioner; designation; appointment;removal.

 

Thesupervisor of the division of banking within the department of audit shall bedesignated the state banking commissioner. The commissioner shall be appointedby the director of the state department of audit, and shall serve at thepleasure of the director. The commissioner may be removed from office by thedirector in the same manner as the governor may remove a gubernatorialappointee as provided by W.S. 9-1-202. The director shall advise and consultwith the state banking board before appointing or removing the commissioner.

 

13-1-602. State banking commissioner; qualifications; compensation.

 

(a) The commissioner shall have not less than seven (7) yearsexperience in the commercial banking industry, or seven (7) years experience asan examiner or administrative officer with the federal deposit insurancecorporation, federal reserve system, office of the comptroller of the currencyor a state banking regulatory department, or a combination thereof, withcontinually increasing administrative authority and responsibility throughoutthe period of experience.

 

(b) The salary of the commissioner shall be fixed by thedirector, after consultation with the state banking board, and within limitsprescribed by the appropriation from the legislature.

 

13-1-603. State banking commissioner; powers and duties.

 

(a) The commissioner shall administer the laws and regulationsgoverning the organization, operation, examination, reorganization ordissolution of banks in Wyoming. The commissioner is directly responsible toand subject to the direction of the director. The commissioner may employ adeputy commissioner, who, in the absence or disability of the commissioner,shall exercise all powers of the commissioner.

 

(b) Repealed By Laws 1999, ch. 42, 3.

 

(c) Without limiting the other powers, duties andresponsibilities conferred upon the commissioner by law, the commissioner may:

 

(i) Conduct an investigation if the commissioner has reasonablecause to believe that a financial institution, a bank holding company or personhas violated, is violating or is about to violate a state statute or rulerelating to financial institutions or bank holding companies, or has engaged,is engaging or is about to engage in an unsafe and unsound practice;

 

(ii) Administer oaths and affirmations, subpoena witnesses andcompel their attendance and testimony, adduce evidence and require by subpoenathe production of any books, papers, records, files, correspondence, documentsand other evidence the commissioner deems relevant to any examination orinvestigation authorized by this act;

 

(iii) Request the attorney general to bring an action in anycourt of competent jurisdiction to enforce and administer the provisions ofthis act, to seek an award of any civil penalty authorized by law and any otherappropriate relief at law and equity including an order requiring compliancewith any subpoena or order issued by the commissioner pursuant to this act;

 

(iv) Consult with the board regarding the administration andoperation of the dual banking system and the banking business in Wyoming;

 

(v) Adopt rules to implement and administer the laws governingfinancial institutions and bank holding companies in this state;

 

(vi) Recommend to the legislature the amendment or enactment oflaws to foster competition between banks and federally chartered financialinstitutions within this state and to promote the dual banking system withinthe state; and

 

(vii) Perform any acts and make any decisions incidental to ornecessary for carrying out any powers, duties or responsibilities expresslyconferred upon the commissioner by law.

 

13-1-604. State banking board created; purpose; membership;appointment; qualifications; term of office.

 

(a) There is created within the division of banking in thedepartment of audit a state banking board. The board shall consult with andprovide advice and counsel to the commissioner and the director as requestedregarding the administration and operation of the dual banking system and thebanking business in Wyoming.

 

(b) The state banking board shall consist of seven (7) memberswho shall be appointed by the governor. The director shall serve as an exofficio member of the board. Of the appointed members, four (4) shall beofficers or directors of state banks chartered under the laws of Wyoming, one(1) shall be an officer or director of national banks chartered under the lawsof the United States and authorized to do business in Wyoming, and two (2)members shall be residents of Wyoming who are not an officer or director of anybank. No member of the banking board shall have any interest, directly orindirectly, in a bank in which any other member of the banking board has anyinterest. Any member of the board who ceases to have the qualifications forwhich the member was appointed shall be disqualified to serve and a vacancyshall occur.

 

(c) Of the initial appointments to the banking board, one (1)member representing a state bank and one (1) member representing a nationalbank shall be appointed for a one (1) year term, one (1) member representing astate bank and one (1) member who is not an officer or director of any bankshall be appointed for a two (2) year term, and the remaining members shall beappointed for a three (3) year term. After the initial appointments, allappointments shall be for a three (3) year term. All appointments shallcommence on July 1 of the year of appointment. Vacancies occurring because ofdisqualification, death, resignation, or for any reason, shall be filled byappointment for the unexpired portion of the term.

 

13-1-605. State banking board; meetings; compensation; purpose.

 

(a) The board shall meet when called by the commissioner orwhen requested by a majority of the members of the board. Members of the boardshall receive the same salary, mileage and per diem for attending and travelingto and from board meetings in the same manner and amount as members of theWyoming legislature.

 

(b) The banking board shall:

 

(i) Consult with and assist the director in the appointment orthe removal of the state banking commissioner;

 

(ii) Consult with and advise the commissioner on strengths andweaknesses in the banking industry in Wyoming, and in the general economy ofthe state as reflected by the banking business;

 

(iii) Recommend to the commissioner such changes in laws orregulations governing the banking industry as may be necessary to meet changesin the financial services industry;

 

(iv) Assist the commissioner and the director in providinginformation to the legislature to support statutory reform necessary tomaintain a strong, healthy banking industry;

 

(v) Perform such other functions as requested by thecommissioner to promote and maintain the dual banking system;

 

(vi) Perform the duties prescribed in W.S. 13-2-207 through13-2-215.

 

13-1-606. State banking board; procedures and practices.

 

Inaddition to other powers conferred by law, the board may regulate its ownprocedures and practices as provided by the Wyoming Administrative ProcedureAct.

 

State Codes and Statutes

Statutes > Wyoming > Title13 > Chapter1

CHAPTER 1 - GENERAL PROVISIONS

 

ARTICLE 1 - DEFINITIONS

 

13-1-101. Definitions.

 

(a) As used in this act, unless another definition isspecifically provided for a section, article or chapter of this act:

 

(i) "Bank" means any corporation, excluding nationalbanks, having a place of business within this state which engages in bankingbusiness;

 

(ii) "Banking business" means opening credits by thedeposit or collection of money or negotiable paper subject to be paid upon draft,receipt, check or order;

 

(iii) "Bank holding company" means a company that is abank holding company under the federal Bank Holding Company Act of 1956, asamended, 12 U.S.C. 1841, et seq., and unless the context requires otherwise,for purposes of W.S. 13-2-801 through 13-2-810 and 13-9-306 through 13-9-316includes a Wyoming bank holding company, an out-of-state bank holding companyand a foreign bank holding company;

 

(iv) "Board" means the state banking board;

 

(v) "Commissioner" means the state bankingcommissioner;

 

(vi) "Customer" means any person having an accountwith a bank or for whom a bank has agreed to collect items including a bankcarrying an account with another bank;

 

(vii) "Director" means the director of the state departmentof audit;

 

(viii) "Executive officer" means a person whoparticipates or has authority to participate, other than in the capacity of adirector, in major policymaking functions of the company or bank, whether ornot the officer has an official title, the title designates the officer anassistant, or the officer is serving without salary or other compensation. Thechairman of the board, the president, every vice president, the cashier, thesecretary and the treasurer of a company or bank are considered executiveofficers, unless the officer is excluded, by resolution of the board ofdirectors or by the bylaws of the bank or company, from participation, otherthan in the capacity of a director, in major policymaking functions of the bankor company, and the officer does not actually participate therein. Anexecutive officer of a bank includes an executive officer of a bank holdingcompany of which the bank is a subsidiary and any other subsidiary of that bankholding company, unless the executive officer of the subsidiary is excluded, byname or by title, from participation in major policymaking functions of thebank by resolutions of the boards of directors of both the subsidiary and thebank, and does not actually participate in such major policymaking functions;

 

(ix) "Financial institution" means a bank, savings andloan association, trust company or state chartered credit union;

 

(x) "Instrument" means a negotiable instrument asdefined by W.S. 34.1-3-104;

 

(xi) "Legal holiday" means:

 

(A) Any day of public thanksgiving, mourning or disasterproclaimed or appointed by the governor or president of the United States;

 

(B) A day designated a holiday by W.S. 8-4-101;

 

(C) Sundays; and

 

(D) Any day on which the federal reserve banks are closed forbusiness.

 

(xii) "National banking association" or "nationalbank" means a banking association chartered by the United States;

 

(xiii) "Officer" means any person designated an officerby the bylaws of a bank including any executive officer, the chairman of theboard of directors, the chairman of the executive committee, the president,vice-president, cashier and any trust officer, assistant vice-president,assistant treasurer, assistant cashier, assistant comptroller or any person whoperforms the duties appropriate to those offices;

 

(xiv) "This act" unless otherwise indicated means W.S.13-1-101 through 13-11-101;

 

(xv) "Trust business" means the holding out by aperson to the public at large by advertising, solicitation or other means thatsuch person is available to act as an executor, administrator, guardian,conservator or trustee in this state and accepting and undertaking to performthe duties in such a capacity in the regular course of his business.

 

ARTICLE 2 - APPLICABILITY

 

13-1-201. Generally.

 

Thisact applies to all banks in this state organized under this act and to nationalbanks where specifically provided by the text.

 

13-1-202. Foreign corporations.

 

(a) A foreign corporation does not transact banking business inWyoming by reason of the following activities:

 

(i) Purchasing evidences of debt, mortgages or liens onproperty;

 

(ii) Securing or collecting debts or enforcing any rights inproperty securing the debts.

 

13-1-203. Compliance required.

 

Noperson or entity shall carry on a banking business except in compliance withthis act.

 

13-1-204. Use of terms or names.

 

Noperson or entity shall advertise, issue or circulate any paper or exhibit anysign using any of the terms "bank", "banker","banking", or words of similar import, or use the name of any otherfinancial institution as defined by W.S. 13-1-101(a)(ix) until they have fullycomplied with this act.

 

13-1-205. Financial institutions; consumer reports; encumbrance ofassets; 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 similarentity authorized to do business in the state shall:

 

(i) Enter into an agreement with the department of familyservices to provide identifying information for each noncustodial parent whomaintains an account at the institution and who the department of familyservices identifies as owing past due child support, provided:

 

(A) Any financial institution entering into agreement with thedepartment pursuant to this section shall be entitled to recover its reasonableand necessary charges for researching or providing information pursuant to arequest;

 

(B) Each financial institution shall have an agreement with thedepartment setting a time schedule for developing an agreement for providingthe information required pursuant to this section.

 

(ii) In response to a notice of lien or levy, encumber and,pursuant to court order, surrender assets of a noncustodial parent who isidentified by the department of family services as owing past due child supportwhich are maintained at the financial institution or national chartered creditunion in a demand deposit account, checking or other negotiable withdrawalorder account, savings or share account, time deposit account or money marketmutual fund account. Any assets in an account protected under the federalEmployee Retirement Income Security Act shall be subject to a lien under thissection, but shall not be surrendered by the financial institution or nationalchartered credit union.

 

(b) 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 similarentity authorized to do business in the state shall not be liable to any personfor:

 

(i) Any disclosure of information provided to the department offamily services under this section;

 

(ii) Encumbering pursuant to notice from the department, orsurrendering pursuant to court order, any assets held by the institution orcredit union in response to a notice of lien or levy issued by the departmentof family services; or

 

(iii) Any other action taken in good faith to comply with theprovisions of this section.

 

ARTICLE 3 - OPERATING HOURS

 

13-1-301. Banks.

 

(a) Any bank may close on legal holidays and Saturday. Each daythe bank is closed is not a business day. Any act required or permitted to beperformed by a bank on Saturday may be performed on the next succeedingbusiness day and no liability or loss of rights shall result.

 

(b) If the state banking commissioner believes that anemergency exists affecting any bank, he may authorize the bank to close andshall make a public announcement of the authorization. As used in thissubsection "emergency" includes any condition which may interferewith the conduct or the normal operations of a bank or poses a threat to thesafety or security of employees or property of a bank.

 

(c) If the officers of a bank believe that conditions existwhich pose a threat to the safety or security of bank personnel or property,they may close the bank.

 

(d) A bank may close temporarily if the convenience and need ofthe local community in which the bank is located would best be served by theclosing. A bank shall not be closed for more than twenty-four (24) consecutivehours pursuant to this subsection.

 

(e) As used in this section, "bank" includes the mainoffice and any branches.

 

(f) Any transaction by a bank performed outside regular bankinghours is not invalid solely because of that fact.

 

ARTICLE 4 - CHECKING ACCOUNTS DISCLOSURES

 

13-1-401. Definitions.

 

(a) For purposes of this article:

 

(i) "Consumer deposit account" means a demand orother similar deposit account established and maintained by a natural personwith a financial institution and operated primarily for personal, family orhousehold purposes;

 

(ii) "Financial institution" means any bank, savingsand loan association, trust company or credit union having a place of businessin Wyoming, whether chartered or organized under the laws of Wyoming or thelaws of the United States. "Financial institution" includes a Wyomingbranch of an out-of-state bank resulting from an interstate merger pursuant toarticle 8 of chapter 2 of this title.

 

13-1-402. Disclosure of date when account opened; exception; penalty.

 

(a) All checks, drafts or similar negotiable or nonnegotiableinstruments or orders of withdrawal which are drawn against funds held by afinancial institution located in Wyoming in a consumer deposit account shall,for a period of not less than twelve (12) months, clearly display on the facethereof the month and year in which the account was opened. This section doesnot apply to temporary checks, drafts or similar negotiable or nonnegotiableinstruments or orders of withdrawal, or to a consumer deposit account where theapplicant either demonstrates through the production of monthly statements orrepresents in a writing, certified under sworn oath or affirmation, that fortwelve (12) months immediately preceding his application he has had an accountat the same or another financial institution. A written representation made toavoid this section is subject to W.S. 6-5-303.

 

(b) No liability or penalty shall be imposed on any depositor,financial institution or printer for an unintentional failure to comply withthis section.

 

ARTICLE 5 - REMOTE ELECTRONIC BANKING FACILITIES

 

13-1-501. 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 thelaws of Wyoming;

 

(ii) "Financial institution" means any bank, savingsand loan association, trust company or credit union chartered or organizedunder the laws of any state other than Wyoming or chartered or organized underthe laws of the United States;

 

(iii) Repealed By Laws 1999, ch. 42, 3.

 

(iv) "Person" means an individual, partnership, corporation,or any other entity, but excludes a Wyoming financial institution and afinancial institution;

 

(v) "Remote electronic terminal" means an electronicdevice, wherever located, through which a consumer may initiate an electronicfunds transfer or may order, instruct or authorize a Wyoming financialinstitution or financial institution to debit or credit an account and includesan automated teller machine, an automated loan machine or any other machine ordevice which may be used to carry out electronic banking business. "Remoteelectronic terminal" does not include point of sale terminals ortelephones or personal computers operated by a consumer.

 

13-1-502. Remote electronic terminals.

 

(a) A Wyoming financial institution may operate remote electronicterminals without geographic restriction, subject to the requirements andlimitations of this article. A financial institution or person may operateremote electronic terminals in this state without geographic restriction,subject to the requirements and limitations of this article.

 

(b) Repealed by Laws 1992, ch. 46, 2.

 

(c) Repealed By Laws 1999, ch. 42, 3.

 

(d) A Wyoming financial institution shall not use a remoteelectronic terminal to replace a branch bank unless the branch bank is to be closedin accordance with the laws of this state and unless the state bankingcommissioner has approved the closure.

 

(e) Repealed By Laws 1999, ch. 42, 3.

 

(f) A Wyoming financial institution, financial institution orperson operating remote electronic terminals in this state may impose atransaction fee for the use of the remote electronic terminal. The amount ofthe transaction fee shall be disclosed visually by placard and by electronicdisplay at a time and manner that allows a user to terminate or cancel thetransaction without incurring the transaction fee. A transaction fee may beimposed up to a maximum of two dollars ($2.00) per transaction as establishedby rules and regulations of the commissioner.

 

(g) Repealed By Laws 1999, ch. 42, 3.

 

(h) Repealed By Laws 1999, ch. 42, 3.

 

(j) No person shall operate a remote electronic terminal inthis state unless the commissioner has approved a written sponsorship agreementbetween the person and a Wyoming financial institution or a financial institutionhaving a place of business in this state. Every sponsorship agreement shallinclude the following information:

 

(i) The name, address and telephone number of the owner of theremote electronic terminal;

 

(ii) The name and address of the institution;

 

(iii) The names of the network systems that will be utilized;

 

(iv) A list of the location and address where each remoteelectronic terminal covered by the agreement will be located.

 

(k) An owner of a remote electronic terminal shall operate the terminalin compliance with applicable federal, state and local laws governing themanagement, operation and safety of the terminal. No agreement to operate orshare a remote electronic terminal shall prohibit, limit or restrict the rightof a Wyoming financial institution or other financial institution having aplace of business in this state to charge a customer any fee not prohibited bystate or federal law. No agreement to operate or share a remote electronicterminal shall require a Wyoming financial institution or other financialinstitution having a place of business in this state to limit or waive itsrights or obligations under this article.

 

(m) Each remote electronic terminal operated in this stateshall be registered with the commissioner. The banking commissioner may imposean annual fee of twenty-five dollars ($25.00) for the registration of eachremote electronic terminal.

 

(n) A Wyoming financial institution or person operating aremote electronic terminal in this state who, after receiving notice from thecommissioner, fails to comply with any of the provisions of this section orrule or regulation adopted pursuant to this section, is guilty of a misdemeanorpunishable by a fine of not less than one hundred dollars ($100.00) nor morethan five thousand dollars ($5,000.00), imprisonment for not more than one (1)year, or both.

 

(o) The attorney general, upon request from the commissioner,may bring an action in a court of competent jurisdiction for an injunction toenjoin a Wyoming financial institution, a financial institution or person fromviolating any of the provisions of this article or any rule adopted pursuant tothis article. No injunction shall be granted unless the commissioner, prior toseeking the injunction, provided written notice of the violation to theinstitution or person sought to be enjoined.

 

ARTICLE 6 - ADMINISTRATION

 

13-1-601. State banking commissioner; designation; appointment;removal.

 

Thesupervisor of the division of banking within the department of audit shall bedesignated the state banking commissioner. The commissioner shall be appointedby the director of the state department of audit, and shall serve at thepleasure of the director. The commissioner may be removed from office by thedirector in the same manner as the governor may remove a gubernatorialappointee as provided by W.S. 9-1-202. The director shall advise and consultwith the state banking board before appointing or removing the commissioner.

 

13-1-602. State banking commissioner; qualifications; compensation.

 

(a) The commissioner shall have not less than seven (7) yearsexperience in the commercial banking industry, or seven (7) years experience asan examiner or administrative officer with the federal deposit insurancecorporation, federal reserve system, office of the comptroller of the currencyor a state banking regulatory department, or a combination thereof, withcontinually increasing administrative authority and responsibility throughoutthe period of experience.

 

(b) The salary of the commissioner shall be fixed by thedirector, after consultation with the state banking board, and within limitsprescribed by the appropriation from the legislature.

 

13-1-603. State banking commissioner; powers and duties.

 

(a) The commissioner shall administer the laws and regulationsgoverning the organization, operation, examination, reorganization ordissolution of banks in Wyoming. The commissioner is directly responsible toand subject to the direction of the director. The commissioner may employ adeputy commissioner, who, in the absence or disability of the commissioner,shall exercise all powers of the commissioner.

 

(b) Repealed By Laws 1999, ch. 42, 3.

 

(c) Without limiting the other powers, duties andresponsibilities conferred upon the commissioner by law, the commissioner may:

 

(i) Conduct an investigation if the commissioner has reasonablecause to believe that a financial institution, a bank holding company or personhas violated, is violating or is about to violate a state statute or rulerelating to financial institutions or bank holding companies, or has engaged,is engaging or is about to engage in an unsafe and unsound practice;

 

(ii) Administer oaths and affirmations, subpoena witnesses andcompel their attendance and testimony, adduce evidence and require by subpoenathe production of any books, papers, records, files, correspondence, documentsand other evidence the commissioner deems relevant to any examination orinvestigation authorized by this act;

 

(iii) Request the attorney general to bring an action in anycourt of competent jurisdiction to enforce and administer the provisions ofthis act, to seek an award of any civil penalty authorized by law and any otherappropriate relief at law and equity including an order requiring compliancewith any subpoena or order issued by the commissioner pursuant to this act;

 

(iv) Consult with the board regarding the administration andoperation of the dual banking system and the banking business in Wyoming;

 

(v) Adopt rules to implement and administer the laws governingfinancial institutions and bank holding companies in this state;

 

(vi) Recommend to the legislature the amendment or enactment oflaws to foster competition between banks and federally chartered financialinstitutions within this state and to promote the dual banking system withinthe state; and

 

(vii) Perform any acts and make any decisions incidental to ornecessary for carrying out any powers, duties or responsibilities expresslyconferred upon the commissioner by law.

 

13-1-604. State banking board created; purpose; membership;appointment; qualifications; term of office.

 

(a) There is created within the division of banking in thedepartment of audit a state banking board. The board shall consult with andprovide advice and counsel to the commissioner and the director as requestedregarding the administration and operation of the dual banking system and thebanking business in Wyoming.

 

(b) The state banking board shall consist of seven (7) memberswho shall be appointed by the governor. The director shall serve as an exofficio member of the board. Of the appointed members, four (4) shall beofficers or directors of state banks chartered under the laws of Wyoming, one(1) shall be an officer or director of national banks chartered under the lawsof the United States and authorized to do business in Wyoming, and two (2)members shall be residents of Wyoming who are not an officer or director of anybank. No member of the banking board shall have any interest, directly orindirectly, in a bank in which any other member of the banking board has anyinterest. Any member of the board who ceases to have the qualifications forwhich the member was appointed shall be disqualified to serve and a vacancyshall occur.

 

(c) Of the initial appointments to the banking board, one (1)member representing a state bank and one (1) member representing a nationalbank shall be appointed for a one (1) year term, one (1) member representing astate bank and one (1) member who is not an officer or director of any bankshall be appointed for a two (2) year term, and the remaining members shall beappointed for a three (3) year term. After the initial appointments, allappointments shall be for a three (3) year term. All appointments shallcommence on July 1 of the year of appointment. Vacancies occurring because ofdisqualification, death, resignation, or for any reason, shall be filled byappointment for the unexpired portion of the term.

 

13-1-605. State banking board; meetings; compensation; purpose.

 

(a) The board shall meet when called by the commissioner orwhen requested by a majority of the members of the board. Members of the boardshall receive the same salary, mileage and per diem for attending and travelingto and from board meetings in the same manner and amount as members of theWyoming legislature.

 

(b) The banking board shall:

 

(i) Consult with and assist the director in the appointment orthe removal of the state banking commissioner;

 

(ii) Consult with and advise the commissioner on strengths andweaknesses in the banking industry in Wyoming, and in the general economy ofthe state as reflected by the banking business;

 

(iii) Recommend to the commissioner such changes in laws orregulations governing the banking industry as may be necessary to meet changesin the financial services industry;

 

(iv) Assist the commissioner and the director in providinginformation to the legislature to support statutory reform necessary tomaintain a strong, healthy banking industry;

 

(v) Perform such other functions as requested by thecommissioner to promote and maintain the dual banking system;

 

(vi) Perform the duties prescribed in W.S. 13-2-207 through13-2-215.

 

13-1-606. State banking board; procedures and practices.

 

Inaddition to other powers conferred by law, the board may regulate its ownprocedures and practices as provided by the Wyoming Administrative ProcedureAct.

 


State Codes and Statutes

State Codes and Statutes

Statutes > Wyoming > Title13 > Chapter1

CHAPTER 1 - GENERAL PROVISIONS

 

ARTICLE 1 - DEFINITIONS

 

13-1-101. Definitions.

 

(a) As used in this act, unless another definition isspecifically provided for a section, article or chapter of this act:

 

(i) "Bank" means any corporation, excluding nationalbanks, having a place of business within this state which engages in bankingbusiness;

 

(ii) "Banking business" means opening credits by thedeposit or collection of money or negotiable paper subject to be paid upon draft,receipt, check or order;

 

(iii) "Bank holding company" means a company that is abank holding company under the federal Bank Holding Company Act of 1956, asamended, 12 U.S.C. 1841, et seq., and unless the context requires otherwise,for purposes of W.S. 13-2-801 through 13-2-810 and 13-9-306 through 13-9-316includes a Wyoming bank holding company, an out-of-state bank holding companyand a foreign bank holding company;

 

(iv) "Board" means the state banking board;

 

(v) "Commissioner" means the state bankingcommissioner;

 

(vi) "Customer" means any person having an accountwith a bank or for whom a bank has agreed to collect items including a bankcarrying an account with another bank;

 

(vii) "Director" means the director of the state departmentof audit;

 

(viii) "Executive officer" means a person whoparticipates or has authority to participate, other than in the capacity of adirector, in major policymaking functions of the company or bank, whether ornot the officer has an official title, the title designates the officer anassistant, or the officer is serving without salary or other compensation. Thechairman of the board, the president, every vice president, the cashier, thesecretary and the treasurer of a company or bank are considered executiveofficers, unless the officer is excluded, by resolution of the board ofdirectors or by the bylaws of the bank or company, from participation, otherthan in the capacity of a director, in major policymaking functions of the bankor company, and the officer does not actually participate therein. Anexecutive officer of a bank includes an executive officer of a bank holdingcompany of which the bank is a subsidiary and any other subsidiary of that bankholding company, unless the executive officer of the subsidiary is excluded, byname or by title, from participation in major policymaking functions of thebank by resolutions of the boards of directors of both the subsidiary and thebank, and does not actually participate in such major policymaking functions;

 

(ix) "Financial institution" means a bank, savings andloan association, trust company or state chartered credit union;

 

(x) "Instrument" means a negotiable instrument asdefined by W.S. 34.1-3-104;

 

(xi) "Legal holiday" means:

 

(A) Any day of public thanksgiving, mourning or disasterproclaimed or appointed by the governor or president of the United States;

 

(B) A day designated a holiday by W.S. 8-4-101;

 

(C) Sundays; and

 

(D) Any day on which the federal reserve banks are closed forbusiness.

 

(xii) "National banking association" or "nationalbank" means a banking association chartered by the United States;

 

(xiii) "Officer" means any person designated an officerby the bylaws of a bank including any executive officer, the chairman of theboard of directors, the chairman of the executive committee, the president,vice-president, cashier and any trust officer, assistant vice-president,assistant treasurer, assistant cashier, assistant comptroller or any person whoperforms the duties appropriate to those offices;

 

(xiv) "This act" unless otherwise indicated means W.S.13-1-101 through 13-11-101;

 

(xv) "Trust business" means the holding out by aperson to the public at large by advertising, solicitation or other means thatsuch person is available to act as an executor, administrator, guardian,conservator or trustee in this state and accepting and undertaking to performthe duties in such a capacity in the regular course of his business.

 

ARTICLE 2 - APPLICABILITY

 

13-1-201. Generally.

 

Thisact applies to all banks in this state organized under this act and to nationalbanks where specifically provided by the text.

 

13-1-202. Foreign corporations.

 

(a) A foreign corporation does not transact banking business inWyoming by reason of the following activities:

 

(i) Purchasing evidences of debt, mortgages or liens onproperty;

 

(ii) Securing or collecting debts or enforcing any rights inproperty securing the debts.

 

13-1-203. Compliance required.

 

Noperson or entity shall carry on a banking business except in compliance withthis act.

 

13-1-204. Use of terms or names.

 

Noperson or entity shall advertise, issue or circulate any paper or exhibit anysign using any of the terms "bank", "banker","banking", or words of similar import, or use the name of any otherfinancial institution as defined by W.S. 13-1-101(a)(ix) until they have fullycomplied with this act.

 

13-1-205. Financial institutions; consumer reports; encumbrance ofassets; 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 similarentity authorized to do business in the state shall:

 

(i) Enter into an agreement with the department of familyservices to provide identifying information for each noncustodial parent whomaintains an account at the institution and who the department of familyservices identifies as owing past due child support, provided:

 

(A) Any financial institution entering into agreement with thedepartment pursuant to this section shall be entitled to recover its reasonableand necessary charges for researching or providing information pursuant to arequest;

 

(B) Each financial institution shall have an agreement with thedepartment setting a time schedule for developing an agreement for providingthe information required pursuant to this section.

 

(ii) In response to a notice of lien or levy, encumber and,pursuant to court order, surrender assets of a noncustodial parent who isidentified by the department of family services as owing past due child supportwhich are maintained at the financial institution or national chartered creditunion in a demand deposit account, checking or other negotiable withdrawalorder account, savings or share account, time deposit account or money marketmutual fund account. Any assets in an account protected under the federalEmployee Retirement Income Security Act shall be subject to a lien under thissection, but shall not be surrendered by the financial institution or nationalchartered credit union.

 

(b) 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 similarentity authorized to do business in the state shall not be liable to any personfor:

 

(i) Any disclosure of information provided to the department offamily services under this section;

 

(ii) Encumbering pursuant to notice from the department, orsurrendering pursuant to court order, any assets held by the institution orcredit union in response to a notice of lien or levy issued by the departmentof family services; or

 

(iii) Any other action taken in good faith to comply with theprovisions of this section.

 

ARTICLE 3 - OPERATING HOURS

 

13-1-301. Banks.

 

(a) Any bank may close on legal holidays and Saturday. Each daythe bank is closed is not a business day. Any act required or permitted to beperformed by a bank on Saturday may be performed on the next succeedingbusiness day and no liability or loss of rights shall result.

 

(b) If the state banking commissioner believes that anemergency exists affecting any bank, he may authorize the bank to close andshall make a public announcement of the authorization. As used in thissubsection "emergency" includes any condition which may interferewith the conduct or the normal operations of a bank or poses a threat to thesafety or security of employees or property of a bank.

 

(c) If the officers of a bank believe that conditions existwhich pose a threat to the safety or security of bank personnel or property,they may close the bank.

 

(d) A bank may close temporarily if the convenience and need ofthe local community in which the bank is located would best be served by theclosing. A bank shall not be closed for more than twenty-four (24) consecutivehours pursuant to this subsection.

 

(e) As used in this section, "bank" includes the mainoffice and any branches.

 

(f) Any transaction by a bank performed outside regular bankinghours is not invalid solely because of that fact.

 

ARTICLE 4 - CHECKING ACCOUNTS DISCLOSURES

 

13-1-401. Definitions.

 

(a) For purposes of this article:

 

(i) "Consumer deposit account" means a demand orother similar deposit account established and maintained by a natural personwith a financial institution and operated primarily for personal, family orhousehold purposes;

 

(ii) "Financial institution" means any bank, savingsand loan association, trust company or credit union having a place of businessin Wyoming, whether chartered or organized under the laws of Wyoming or thelaws of the United States. "Financial institution" includes a Wyomingbranch of an out-of-state bank resulting from an interstate merger pursuant toarticle 8 of chapter 2 of this title.

 

13-1-402. Disclosure of date when account opened; exception; penalty.

 

(a) All checks, drafts or similar negotiable or nonnegotiableinstruments or orders of withdrawal which are drawn against funds held by afinancial institution located in Wyoming in a consumer deposit account shall,for a period of not less than twelve (12) months, clearly display on the facethereof the month and year in which the account was opened. This section doesnot apply to temporary checks, drafts or similar negotiable or nonnegotiableinstruments or orders of withdrawal, or to a consumer deposit account where theapplicant either demonstrates through the production of monthly statements orrepresents in a writing, certified under sworn oath or affirmation, that fortwelve (12) months immediately preceding his application he has had an accountat the same or another financial institution. A written representation made toavoid this section is subject to W.S. 6-5-303.

 

(b) No liability or penalty shall be imposed on any depositor,financial institution or printer for an unintentional failure to comply withthis section.

 

ARTICLE 5 - REMOTE ELECTRONIC BANKING FACILITIES

 

13-1-501. 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 thelaws of Wyoming;

 

(ii) "Financial institution" means any bank, savingsand loan association, trust company or credit union chartered or organizedunder the laws of any state other than Wyoming or chartered or organized underthe laws of the United States;

 

(iii) Repealed By Laws 1999, ch. 42, 3.

 

(iv) "Person" means an individual, partnership, corporation,or any other entity, but excludes a Wyoming financial institution and afinancial institution;

 

(v) "Remote electronic terminal" means an electronicdevice, wherever located, through which a consumer may initiate an electronicfunds transfer or may order, instruct or authorize a Wyoming financialinstitution or financial institution to debit or credit an account and includesan automated teller machine, an automated loan machine or any other machine ordevice which may be used to carry out electronic banking business. "Remoteelectronic terminal" does not include point of sale terminals ortelephones or personal computers operated by a consumer.

 

13-1-502. Remote electronic terminals.

 

(a) A Wyoming financial institution may operate remote electronicterminals without geographic restriction, subject to the requirements andlimitations of this article. A financial institution or person may operateremote electronic terminals in this state without geographic restriction,subject to the requirements and limitations of this article.

 

(b) Repealed by Laws 1992, ch. 46, 2.

 

(c) Repealed By Laws 1999, ch. 42, 3.

 

(d) A Wyoming financial institution shall not use a remoteelectronic terminal to replace a branch bank unless the branch bank is to be closedin accordance with the laws of this state and unless the state bankingcommissioner has approved the closure.

 

(e) Repealed By Laws 1999, ch. 42, 3.

 

(f) A Wyoming financial institution, financial institution orperson operating remote electronic terminals in this state may impose atransaction fee for the use of the remote electronic terminal. The amount ofthe transaction fee shall be disclosed visually by placard and by electronicdisplay at a time and manner that allows a user to terminate or cancel thetransaction without incurring the transaction fee. A transaction fee may beimposed up to a maximum of two dollars ($2.00) per transaction as establishedby rules and regulations of the commissioner.

 

(g) Repealed By Laws 1999, ch. 42, 3.

 

(h) Repealed By Laws 1999, ch. 42, 3.

 

(j) No person shall operate a remote electronic terminal inthis state unless the commissioner has approved a written sponsorship agreementbetween the person and a Wyoming financial institution or a financial institutionhaving a place of business in this state. Every sponsorship agreement shallinclude the following information:

 

(i) The name, address and telephone number of the owner of theremote electronic terminal;

 

(ii) The name and address of the institution;

 

(iii) The names of the network systems that will be utilized;

 

(iv) A list of the location and address where each remoteelectronic terminal covered by the agreement will be located.

 

(k) An owner of a remote electronic terminal shall operate the terminalin compliance with applicable federal, state and local laws governing themanagement, operation and safety of the terminal. No agreement to operate orshare a remote electronic terminal shall prohibit, limit or restrict the rightof a Wyoming financial institution or other financial institution having aplace of business in this state to charge a customer any fee not prohibited bystate or federal law. No agreement to operate or share a remote electronicterminal shall require a Wyoming financial institution or other financialinstitution having a place of business in this state to limit or waive itsrights or obligations under this article.

 

(m) Each remote electronic terminal operated in this stateshall be registered with the commissioner. The banking commissioner may imposean annual fee of twenty-five dollars ($25.00) for the registration of eachremote electronic terminal.

 

(n) A Wyoming financial institution or person operating aremote electronic terminal in this state who, after receiving notice from thecommissioner, fails to comply with any of the provisions of this section orrule or regulation adopted pursuant to this section, is guilty of a misdemeanorpunishable by a fine of not less than one hundred dollars ($100.00) nor morethan five thousand dollars ($5,000.00), imprisonment for not more than one (1)year, or both.

 

(o) The attorney general, upon request from the commissioner,may bring an action in a court of competent jurisdiction for an injunction toenjoin a Wyoming financial institution, a financial institution or person fromviolating any of the provisions of this article or any rule adopted pursuant tothis article. No injunction shall be granted unless the commissioner, prior toseeking the injunction, provided written notice of the violation to theinstitution or person sought to be enjoined.

 

ARTICLE 6 - ADMINISTRATION

 

13-1-601. State banking commissioner; designation; appointment;removal.

 

Thesupervisor of the division of banking within the department of audit shall bedesignated the state banking commissioner. The commissioner shall be appointedby the director of the state department of audit, and shall serve at thepleasure of the director. The commissioner may be removed from office by thedirector in the same manner as the governor may remove a gubernatorialappointee as provided by W.S. 9-1-202. The director shall advise and consultwith the state banking board before appointing or removing the commissioner.

 

13-1-602. State banking commissioner; qualifications; compensation.

 

(a) The commissioner shall have not less than seven (7) yearsexperience in the commercial banking industry, or seven (7) years experience asan examiner or administrative officer with the federal deposit insurancecorporation, federal reserve system, office of the comptroller of the currencyor a state banking regulatory department, or a combination thereof, withcontinually increasing administrative authority and responsibility throughoutthe period of experience.

 

(b) The salary of the commissioner shall be fixed by thedirector, after consultation with the state banking board, and within limitsprescribed by the appropriation from the legislature.

 

13-1-603. State banking commissioner; powers and duties.

 

(a) The commissioner shall administer the laws and regulationsgoverning the organization, operation, examination, reorganization ordissolution of banks in Wyoming. The commissioner is directly responsible toand subject to the direction of the director. The commissioner may employ adeputy commissioner, who, in the absence or disability of the commissioner,shall exercise all powers of the commissioner.

 

(b) Repealed By Laws 1999, ch. 42, 3.

 

(c) Without limiting the other powers, duties andresponsibilities conferred upon the commissioner by law, the commissioner may:

 

(i) Conduct an investigation if the commissioner has reasonablecause to believe that a financial institution, a bank holding company or personhas violated, is violating or is about to violate a state statute or rulerelating to financial institutions or bank holding companies, or has engaged,is engaging or is about to engage in an unsafe and unsound practice;

 

(ii) Administer oaths and affirmations, subpoena witnesses andcompel their attendance and testimony, adduce evidence and require by subpoenathe production of any books, papers, records, files, correspondence, documentsand other evidence the commissioner deems relevant to any examination orinvestigation authorized by this act;

 

(iii) Request the attorney general to bring an action in anycourt of competent jurisdiction to enforce and administer the provisions ofthis act, to seek an award of any civil penalty authorized by law and any otherappropriate relief at law and equity including an order requiring compliancewith any subpoena or order issued by the commissioner pursuant to this act;

 

(iv) Consult with the board regarding the administration andoperation of the dual banking system and the banking business in Wyoming;

 

(v) Adopt rules to implement and administer the laws governingfinancial institutions and bank holding companies in this state;

 

(vi) Recommend to the legislature the amendment or enactment oflaws to foster competition between banks and federally chartered financialinstitutions within this state and to promote the dual banking system withinthe state; and

 

(vii) Perform any acts and make any decisions incidental to ornecessary for carrying out any powers, duties or responsibilities expresslyconferred upon the commissioner by law.

 

13-1-604. State banking board created; purpose; membership;appointment; qualifications; term of office.

 

(a) There is created within the division of banking in thedepartment of audit a state banking board. The board shall consult with andprovide advice and counsel to the commissioner and the director as requestedregarding the administration and operation of the dual banking system and thebanking business in Wyoming.

 

(b) The state banking board shall consist of seven (7) memberswho shall be appointed by the governor. The director shall serve as an exofficio member of the board. Of the appointed members, four (4) shall beofficers or directors of state banks chartered under the laws of Wyoming, one(1) shall be an officer or director of national banks chartered under the lawsof the United States and authorized to do business in Wyoming, and two (2)members shall be residents of Wyoming who are not an officer or director of anybank. No member of the banking board shall have any interest, directly orindirectly, in a bank in which any other member of the banking board has anyinterest. Any member of the board who ceases to have the qualifications forwhich the member was appointed shall be disqualified to serve and a vacancyshall occur.

 

(c) Of the initial appointments to the banking board, one (1)member representing a state bank and one (1) member representing a nationalbank shall be appointed for a one (1) year term, one (1) member representing astate bank and one (1) member who is not an officer or director of any bankshall be appointed for a two (2) year term, and the remaining members shall beappointed for a three (3) year term. After the initial appointments, allappointments shall be for a three (3) year term. All appointments shallcommence on July 1 of the year of appointment. Vacancies occurring because ofdisqualification, death, resignation, or for any reason, shall be filled byappointment for the unexpired portion of the term.

 

13-1-605. State banking board; meetings; compensation; purpose.

 

(a) The board shall meet when called by the commissioner orwhen requested by a majority of the members of the board. Members of the boardshall receive the same salary, mileage and per diem for attending and travelingto and from board meetings in the same manner and amount as members of theWyoming legislature.

 

(b) The banking board shall:

 

(i) Consult with and assist the director in the appointment orthe removal of the state banking commissioner;

 

(ii) Consult with and advise the commissioner on strengths andweaknesses in the banking industry in Wyoming, and in the general economy ofthe state as reflected by the banking business;

 

(iii) Recommend to the commissioner such changes in laws orregulations governing the banking industry as may be necessary to meet changesin the financial services industry;

 

(iv) Assist the commissioner and the director in providinginformation to the legislature to support statutory reform necessary tomaintain a strong, healthy banking industry;

 

(v) Perform such other functions as requested by thecommissioner to promote and maintain the dual banking system;

 

(vi) Perform the duties prescribed in W.S. 13-2-207 through13-2-215.

 

13-1-606. State banking board; procedures and practices.

 

Inaddition to other powers conferred by law, the board may regulate its ownprocedures and practices as provided by the Wyoming Administrative ProcedureAct.

 

Categories