reglab/statecodes huggingface dataset:
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 1 - General Provisions › Article 7 - Protection of Vulnerable Adults › Section 13-1-702 - Reporting Financial Exploitation of Vulnerable Adults.

13-1-702. 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 financial exploitation.
(b) If a financial institution is notified of suspected financial exploitation under subsection (a) of this section or otherwise has cause to believe that financial exploitation of a vulnerable adult has occurred, is occurring or has been attempted, the financial institution shall assess the suspected financial exploitation and, if warranted, submit a report to the department containing the same information under W.S. 35-20-103(b). The financial institution shall submit the report required by this subsection not later than the earlier of:
(i) The date the financial institution completes its assessment of the suspected financial exploitation; or
(ii) Five (5) business days after the date the financial institution is notified of the suspected financial exploitation under subsection (a) of this section or otherwise has cause to believe that the financial exploitation of a vulnerable adult has occurred, is occurring or has been attempted.
(c) A financial institution that submits a report to the department of suspected financial exploitation of a vulnerable adult under subsection (b) of this section is not required to make an additional report of suspected abuse, neglect or exploitation under W.S. 35-20-103 for the same conduct constituting the reported suspected financial exploitation.
(d) Each financial institution shall adopt internal policies, programs, plans or procedures for:
(i) The qualified persons of the financial institution to make the notifications required under subsection (a) of this section; and
(ii) The financial institution to conduct the assessment and submit the report required under subsection (b) of this section.
(e) The policies, programs, plans or procedures adopted under subsection (d) of this section may authorize the financial institution to report the suspected financial exploitation of a vulnerable adult to any appropriate state or federal agency in addition to the department, including any appropriate law enforcement agency.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 1 - General Provisions › Article 7 - Protection of Vulnerable Adults › Section 13-1-703 - Notifying Third Parties of Suspected Financial Exploitation of Vulnerable Adults.

13-1-703. 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 institution submits the report, also notify a third party reasonably associated with the vulnerable adult of the suspected financial exploitation of the vulnerable adult, unless the financial institution suspects the third party of financial exploitation of the vulnerable adult.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 1 - General Provisions › Article 7 - Protection of Vulnerable Adults › Section 13-1-704 - Temporary Hold on Transactions.

13-1-704. 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) Submits a report of suspected financial exploitation of the vulnerable adult to the department as required under this article; and
(B) Has cause to believe the transaction is related to the suspected financial exploitation alleged in the report.
(ii) Shall place a hold on any transaction involving an account of a vulnerable adult if the hold is requested by the department or a law enforcement agency.
(b) Subject to subsection (c) of this section, a hold placed on any transaction under subsection (a) of this section shall not exceed five (5) business days after the date the hold is placed.
(c) A financial institution may extend a hold placed on any transaction under subsection (a) of this section for a period not to exceed thirty (30) business days after the expiration of the period prescribed by subsection (b) of this section if requested by a state or federal agency or a law enforcement agency investigating the suspected financial exploitation of a vulnerable adult. The financial institution may also petition a court to extend a hold placed on any transaction under subsection (a) of this section beyond the period prescribed by subsection (b) of this section. A court may enter an order extending a hold or providing other relief.
(d) Each financial institution shall adopt internal policies, programs, plans or procedures for placing a hold on a transaction involving an account of a vulnerable adult under this section.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 1 - General Provisions › Article 7 - Protection of Vulnerable Adults › Section 13-1-705 - Immunity.

13-1-705. 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 otherwise participates in a judicial proceeding arising from a notification or report under this article is immune from any civil liability arising from the notification, report, testimony or participation in the judicial proceeding, unless the qualified person or financial institution acted in bad faith or with a malicious purpose.
(b) A financial institution that in good faith and with the exercise of reasonable care places or does not place a hold on any transaction under W.S. 13-1-704(a) is immune from any civil liability or disciplinary action resulting from that action or failure to act.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 1 - General Provisions › Article 7 - Protection of Vulnerable Adults › Section 13-1-706 - Records.

13-1-706. 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 office, either as part of a report to the department, law enforcement agency or district attorney's office or at the request of the department, law enforcement agency or district attorney's office in accordance with an investigation. Access to records of transactions provided under this section shall be limited to sixty (60) days before the first transaction suspected of involving financial exploitation to sixty (60) days after the last transaction suspected of involving financial exploitation.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 1 - Powers › Section 13-2-101 - Generally.

13-2-101. 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 notes, buy and sell gold and silver coins and bullion where permitted by federal law;
(vi) Collect and pay over money;
(vii) Transact all other business pertaining to banking subject to the provisions and restrictions of this act;
(viii) Operate a savings department;
(ix) Operate a trust department and exercise all powers enumerated by W.S. 13-5-510(b) and 34-29-104;
(x) Act as executor, administrator, trustee, receiver, assignee or guardian of any estate, minor, incompetent or other persons subject to guardianship, and accept appointments by any court in connection with any of the foregoing. In the case of such appointment, or in case the bank shall be named as executor in any will or assignee of any assignment for the benefit of creditors, the bank shall not be required to give any bond or security unless directed by an order of the court making such appointment, or having jurisdiction of such will or assignment;
(xi) Sell insurance or annuities, provided however, all bank-related sales of insurance and annuities shall be in accordance with the Wyoming Insurance Code and subject to all other applicable state and federal laws and rules and regulations governing bank-related sale of insurance or annuities;
(xii) Engage in any activity that is usual or incidental to the business of banking, subject to the prior written approval of the commissioner. The commissioner shall not approve a request to engage in an incidental activity if he finds that the requested activity will adversely affect the safety and soundness of the bank; and
(xiii) Engage in any activity in which a federally chartered insured depository institution as defined by W.S. 13-2-802(a)(ix) operating within this state is authorized to engage, as approved by rule by the commissioner.
(b) Insurance underwriting shall not be approved as usual or incidental to the business of banking under this act, whether for a bank or an operating subsidiary, unless permitted for a federally chartered insured depository institution as defined by W.S. 13-2-802(a)(ix).
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 1 - Powers › Section 13-2-103 - Federal Deposit Insurance.

13-2-103. 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 section shall be construed as prohibiting a special purpose depository institution from obtaining FDIC insurance, if available.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 2 - Chartering › Section 13-2-201 - Organization and Application.

13-2-201. 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 shall subscribe and verify triplicate originals of the articles of incorporation and transmit them to the state banking commissioner.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 2 - Chartering › Section 13-2-202 - Articles of Incorporation.

13-2-202. 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 located and its operations conducted;
(v) The amount of capital stock and the number of shares;
(vi) The name and residence of each shareholder subscribing to more than ten percent (10%) of the stock and the number of his shares;
(vii) The number of directors and the names of those who shall manage the affairs of the corporation for the first year; and
(viii) A statement that the articles of incorporation are made to enable the incorporators to avail themselves of the advantages of the banking laws of the state.
(b) Copies of all amended articles of incorporation shall be filed in the same manner as the original articles of incorporation.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 2 - Chartering › Section 13-2-207 - Procedure Upon Filing of Articles of Incorporation, Application and Other Information.

13-2-207. 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 regulations of the board, the state banking commissioner shall notify the applicants in writing within thirty (30) calendar days of any deficiency in the required information or that the application has been accepted for filing. When the state banking commissioner is satisfied that all required information has been furnished, he shall notify the chairman of the board who shall establish a time and place within the county of the proposed financial institution location for a public hearing which shall be not less than sixty (60) days nor more than one hundred twenty (120) days after notice from the state banking commissioner that the application is in order. Within thirty (30) days after receipt of notice of the time and place of the public hearing, the applicant shall cause notice of filing of the application and of the hearing to be published at applicant's expense in a newspaper of general circulation within the county where the proposed financial institution is to be located. Publication shall be made at least once a week for three (3) consecutive weeks before the hearing stating the proposed location of the financial institution, the names of the proposed applicants for a charter, the nature of the activities to be conducted by the proposed institution and other information as the board shall prescribe from time to time by rules and regulations. The applicant shall furnish proof of publication to the state banking commissioner not more than ten (10) days prior to the hearing. The state banking commissioner shall send notice of the hearing to state and national banks, federal savings and loan associations and other financial institutions in the state who have requested notice from the state banking commissioner and to the appropriate federal financial institution regulatory authorities.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 2 - Chartering › Section 13-2-208 - Application Filing Fee.

13-2-208. 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 public hearing and other related expenses. The fee shall be deposited by the state banking commissioner with the state treasurer into the financial institutions administration account. Expenditures shall be made from the account by warrants drawn by the state auditor, upon vouchers issued and signed by the director or commissioner. Funds from the account shall be expended only to carry out the duties of the commissioner and the state banking board under this article and for chartering trust companies under chapter 5 of this title. If an application for a financial institution charter is withdrawn by the applicant at any time prior to the hearing on the application, the statutory application filing fee, less the amount of any expense authorized above and actually incurred, shall be refunded to the applicant. If the application expenses are less than the application fee collected the unexpended amount shall remain within the account.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 2 - Chartering › Section 13-2-209 - Procedure for Hearings on Charter Applications.

13-2-209. 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.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 2 - Chartering › Section 13-2-210 - Emergency Charters; Fees.

13-2-210. 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 the insolvency, or to prevent the failure, of an existing financial institution, but the granting of any emergency charter under this section is contingent upon the state banking commissioner determining that findings required by W.S. 13-2-212(a) have been satisfied.
(b) The application fee for an emergency charter shall be established by rule and regulation of the state banking commissioner. The fee shall be deposited by the state banking commissioner with the state treasurer and credited to the financial institutions administration account. Expenditures shall be made from the account by warrants drawn by the state auditor, upon vouchers issued and signed by the director or commissioner. Funds from the account shall be expended to carry out the duties of the commissioner or the state banking board.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 2 - Chartering › Section 13-2-211 - Investigation and Examination by Banking Commissioner.

13-2-211. 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, financial standing and ability of the organizers;
(ii) The character, financial responsibility, banking or savings and loan or other financial experience and business qualifications of those proposed as officers;
(iii) The character and standing in the community and state of those proposed as directors, stockholders or owners;
(iv) The need in the community where the institution would be located giving particular consideration to the adequacy of existing financial facilities and the effect that the proposed institution would have upon existing financial institutions in the community;
(v) The ability of the community to support the proposed institution, including existing competition, the economic history of the community and the opportunity for profitable employment of financial institution funds; and
(vi) Such other facts and circumstances bearing on the proposed financial institution as the banking commissioner may deem relevant.
(b) The state banking commissioner shall submit his findings verbally and in writing at the public hearing on the application and shall be subject to cross-examination by any interested party. No relevant information shall be excluded by the board as hearsay.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 2 - Chartering › Section 13-2-213 - Certificate of Authority to Commence Business Required; Application; Approval or Denial; Failure to Commence Business.

13-2-213. 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 authority to operate from the state banking commissioner. The application for a certificate of authority shall be made to the state banking commissioner and shall certify that the capital and surplus have been paid in, the address at which the institution will operate and that all of the bylaws adopted have been attached as an exhibit to the application. The application shall state who the officers, directors and stockholders are at that time and have attached evidence that appropriate federal insurance of deposits has been obtained, where applicable. The state banking commissioner shall approve or deny an application for a certificate of authority within thirty (30) days after the application has been filed, but the authority of the state banking commissioner to disapprove any application is restricted solely to noncompliance with this section. If the state banking commissioner approves the application, he shall issue a certificate of authority to the organizers within twenty (20) days. If the state banking commissioner denies the application, he shall mail a notice of denial to the organizers within twenty (20) days, stating the reasons for denying the application, and grant to the organizers a maximum period of ninety (90) days to resubmit the application with the necessary corrections. If the applicant fails to comply with requirements of the notice of denial within ninety (90) days from the receipt of the notice, the approval of the application and articles of incorporation previously issued to the applying institution shall be revoked by the state banking commissioner. The failure of the state banking commissioner to act upon an application for a certificate of authority within thirty (30) days shall be deemed an approval. If the approved institution fails to commence business in good faith within one (1) year after the issuance of a certificate of authority by the state banking commissioner or any required federal approval, whichever is later, the charter and certificate of authority shall expire.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 2 - Chartering › Section 13-2-214 - Decisions by Board Appealable; Grounds.

13-2-214. 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 provisions of the Wyoming Administrative Procedure Act. In addition to the grounds for appeal contained in the Wyoming Administrative Procedure Act, the appellant may appeal if the board or the state banking commissioner fails to make any of the findings required.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 2 - Chartering › Section 13-2-215 - Report of Interests in Financial Institutions by State Banking Commissioner and Board Members.

13-2-215. 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 that he has in any financial institution in the state of Wyoming or elsewhere. The list shall be certified under oath and a copy shall be furnished to the chairman of the board.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 3 - Capital Requirements, Stock, Notes and Debentures › Section 13-2-301 - Requirements as to Capital.

13-2-301. 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 amount of its authorized capital is subscribed and all capital stock is fully paid in. No bank may organize without a paid up surplus fund of at least twenty percent (20%) of its legally authorized capital stock, and undivided profits in sufficient amount for the expense of operation the first year as determined by the state banking commissioner.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 3 - Capital Requirements, Stock, Notes and Debentures › Section 13-2-302 - Issue of Stock.

13-2-302. 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, authorized under title 17 of the Wyoming statutes. Consistent with subsection (c) of this section, the articles of incorporation of a bank may specify any form of shareholder voting rights.
(c) If the articles of incorporation of a bank provide shareholder voting rights that are different than those provided under W.S. 13-2-307, 13-2-308(a), 13-2-309(a), 13-2-402(e), 13-4-101(a) or 13-4-701(b) or (d), the articles of incorporation of the bank shall control, subject to any approval of the commissioner required under those sections.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 3 - Capital Requirements, Stock, Notes and Debentures › Section 13-2-303 - Increase or Reduction of Capital Stock.

13-2-303. 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' meeting called for that purpose.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 3 - Capital Requirements, Stock, Notes and Debentures › Section 13-2-304 - Transfer of Stock and Other Ownership Interests.

13-2-304. 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 has been restored.
(b) Transfers of voting ownership interests of a bank or of a bank holding company shall be reported to the commissioner not less than ten (10) days prior to being made if the transfer:
(i) Equals or exceeds ten percent (10%) of the bank's or the bank holding company's voting ownership interests; or
(ii) Is made to a person owning or controlling ten percent (10%) or more and less than eighty percent (80%) of the bank's or the bank holding company's voting ownership interests.
(c) The state banking commissioner may disapprove any transfer of stock required to be reported if he finds that the transferee:
(i) Repealed by Laws 1993, ch. 115, 3.
(ii) Has been convicted of a felony; or
(iii) Has been removed from a position as director, officer or employee of a bank or other financial institution pursuant to an order of the state banking commissioner or appropriate federal regulatory authority.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 3 - Capital Requirements, Stock, Notes and Debentures › Section 13-2-305 - Purchase or Acceptance of Own Capital Stock.

13-2-305. 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 within six (6) months from the date it was received as collateral or acquired by purchase unless the debt is paid in full.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 3 - Capital Requirements, Stock, Notes and Debentures › Section 13-2-306 - Stock Register; Inspection.

13-2-306. 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).
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 3 - Capital Requirements, Stock, Notes and Debentures › Section 13-2-307 - Voting by Shareholders Generally; Balloting for Directors.

13-2-307. 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 proxies executed in writing but no officer, clerk, teller or bookkeeper of the bank shall act as proxy. The presence in person or by proxy of the owners of at least fifty-one percent (51%) of the issued and outstanding capital stock at any meeting of stockholders constitutes a quorum. No shareholder whose liability to the bank is past due and unpaid shall be allowed to vote.
(b) In balloting for directors each qualified shareholder may vote the number of shares owned by him for as many directors as are to be elected or may cumulate his votes by giving one (1) candidate the number of votes equal to the number of directors to be elected multiplied by the number of his shares and he may distribute his votes cumulatively on the same principle among any number of candidates. The persons having the highest number of votes shall be declared elected as the board of directors for the ensuing corporate year.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 3 - Capital Requirements, Stock, Notes and Debentures › Section 13-2-308 - Preferred Stock.

13-2-308. 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 the issuance bearing the approval of the state banking commissioner shall be filed in the office of the secretary of state and treated as an amendment to the articles of incorporation.
(c) At a board of directors' meeting called on not less than one (1) days notice, the directors may adopt a resolution calling for the issuance of preferred shares. The directors shall then call a meeting of the stockholders of the corporation, giving not less than five (5) days notice for the purpose of stockholder approval.
(d) The voting rights and manner of retirement of preferred shares shall be as adopted in the resolution of the stockholders authorizing their issuance subject to the provisions of the articles of incorporation and the approval of the state banking commissioner.
(e) The holders of the preferred stock of the highest class shall be entitled to cumulative dividends of up to six percent (6%) per year before dividends are paid on any other stock. The holders of preferred stock of subsequent classes shall next be entitled to cumulative dividends of up to six percent (6%) in order of preference before dividends are paid to the holders of common stock. In any liquidation no payment shall be made to the holders of common stock until the holders of preferred stock have been paid the full par value of their stock and accumulated dividends in order of preference.
(f) The preferred stock and holders of preferred stock are not liable for assessments to restore impairment of capital or for any liability imposed by law on common stock or the holders of common stock.
(g) No issue of preferred stock is valid until the entire par value of the shares has been paid in cash or until arrangements satisfactory to the state banking commissioner have been made for payment.
(h) The par value of preferred stock shall be included in any determination of required capital under this act.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 3 - Capital Requirements, Stock, Notes and Debentures › Section 13-2-309 - Issuance of Capital Notes or Debentures; Generally.

13-2-309. 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 state banking commissioner.
(b) The board of directors shall determine the terms of its capital notes or debentures subject to the provisions of W.S. 13-2-311 and subsection (c) of this section.
(c) The amount of outstanding capital notes or debentures of any bank shall not exceed fifty percent (50%) of the amount of the capital stock and surplus fund of the bank at the date of issue. The periods of maturities with respect to any issue shall not exceed twenty-five (25) years as prescribed by the state banking commissioner. Capital notes and debentures shall be subject to a schedule of prepayments or to an appropriate sinking fund for the amortization of the indebtedness.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 3 - Capital Requirements, Stock, Notes and Debentures › Section 13-2-310 - Issuance of Capital Notes or Debentures; Approval by State Banking Commissioner.

13-2-310. Issuance of capital notes or debentures; approval by state banking commissioner.
The state banking commissioner may approve the issue of capital notes or debentures by any bank. Applications for approval shall be in writing and contain information which he requests including a full explanation of the need for and proposed use of the funds. The state banking commissioner shall consider whether the issuance would constitute sound banking practice and would be in the best interests of the public, depositors, creditors and stockholders of the bank.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 3 - Capital Requirements, Stock, Notes and Debentures › Section 13-2-311 - Capital Notes or Debentures; Provisions to Be Stated.

13-2-311. Capital notes or debentures; provisions to be stated.
(a) The following provisions shall be stated in the capital notes or debentures:
(i) That the notes or debentures are an unsecured indebtedness of the bank and subordinate to the claims of creditors and depositors;
(ii) In the event of liquidation of the bank all depositors and creditors are entitled to be paid in full with interest provided by law prior to payment on the notes or debentures;
(iii) No payment will be made on the principal of the notes or debentures unless following the payment the aggregate of the capital, surplus and undivided profits of the bank is at least equal to the amount of the capital, surplus and undivided profits at the date of issue unless otherwise authorized by the state banking commissioner.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 3 - Capital Requirements, Stock, Notes and Debentures › Section 13-2-312 - Capital Notes or Debentures; Conversion Into Common or Preferred Stock.

13-2-312. Capital notes or debentures; conversion into common or preferred stock.
Capital notes and debentures may be converted into shares of common or preferred stock in accordance with the provisions of the capital notes or debentures. If capital notes or debentures are converted the president or vice-president shall subscribe and verify triplicate originals of a certificate stating the amount of conversion and other information as required by the state banking commissioner. The certificates shall be delivered to and approved by the state banking commissioner who shall file one (1) of the certificates in his office, one (1) in the office of the secretary of state and return one (1) to the subscribing officer of the bank.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 3 - Capital Requirements, Stock, Notes and Debentures › Section 13-2-313 - Capital Notes or Debentures; No Assessment or Liability.

13-2-313. Capital notes or debentures; no assessment or liability.
Capital notes, debentures and the holders thereof are not subject to any assessment nor are holders of the notes or debentures liable for any debts or contracts of the bank.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 3 - Capital Requirements, Stock, Notes and Debentures › Section 13-2-314 - Capital Notes or Debentures; Proceeds Not Part of Capital or Surplus.

13-2-314. Capital notes or debentures; proceeds not part of capital or surplus.
(a) The proceeds from the sale of capital notes or debentures shall not be considered a portion of the capital or surplus of the issuing bank nor treated as meeting any requirements, restrictions or conditions relating to the capital or surplus of a bank.
(b) The proceeds from the sale of notes or debentures issued may not be used to reduce or retire outstanding capital stock or surplus.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 4 - Directors › Section 13-2-401 - Authority to Manage Banks; Qualifications.

13-2-401. Authority to manage banks; qualifications.
The affairs of a bank shall be managed by not less than five (5) directors. Shareholders or the board of directors if provided by the articles of incorporation may adopt and amend bylaws for the management of the bank. Each director shall take an oath that he will faithfully and diligently perform the duties of his office and will not violate or knowingly permit the violation of any of the laws of this state relating to the banking business. Within thirty (30) days after being elected or appointed each director of a bank shall sign the oath required by this section on a form prescribed by the commissioner and it shall be part of the record of the meeting and included in the bank's minutes. Within thirty (30) days after initially being elected or appointed each director of a bank shall file with the commissioner a sworn financial statement on a form prescribed by the state banking commissioner.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 4 - Directors › Section 13-2-402 - Election; Term; Vacancies; Number.

13-2-402. Election; term; vacancies; number.
(a) The initial and elected directors of any bank shall hold office for one (1) year and until their successors are elected and qualified except in cases of death, resignation or removal under the laws of this state. All elections shall be held annually on a day designated by the directors on or before April 30.
(b) If the annual election of directors is not held at the time designated an election may be held within sixty (60) days thereafter following notice by publication in three (3) consecutive issues of a weekly newspaper printed in the county in which the bank is located, or if no newspaper is printed in the county then in a newspaper of general circulation in the state.
(c) Any director who during his tenure as a director becomes insolvent or makes a general assignment of his property for the benefit of creditors shall vacate his office.
(d) Vacancies which reduce the board to less than five (5) members shall be filled within ninety (90) days of the vacancy by appointment by the remaining directors for the unexpired term. The board shall notify the banking commissioner of any vacancy on the board within thirty (30) days of the vacancy.
(e) Changes in the number of directors shall be authorized by a majority vote of the stockholders to be effective upon expiration of the current corporate year. The change may become effective immediately with the consent of the directors and written notification to the state banking commissioner.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 4 - Directors › Section 13-2-403 - Meetings; Record of Proceedings and Business.

13-2-403. Meetings; record of proceedings and business.
(a) The board of directors of a bank shall hold a regular meeting every quarter of the calendar year. At each meeting a detailed report showing every loan and investment in excess of one percent (1%) of the bank's capital and surplus made since the last report and the aggregate liability, direct or contingent, to the bank of each officer and director shall be submitted. The board of directors shall review the report and make it a part of the record of the meeting. The record shall show their approval or disapproval of the report.
(b) A record of the proceedings and business of all meetings shall be included in the bank's minutes. The record shall show the gross earnings of the bank and their disposition by indicating expenses and taxes paid, worthless items charged off, depreciation in assets, amount carried to surplus fund and amount of dividend and amount of undivided profits remaining.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 4 - Directors › Section 13-2-404 - Liability.

13-2-404. Liability.
Any director who participates in or consents to any action of a bank in making loans in excess of or contrary to law or regulations shall be liable in his individual capacity for damages proximately sustained by the bank, its stockholders or other persons.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 7 - Statewide Branch Banking › Section 13-2-701 - Definitions.

13-2-701. Definitions.
(a) As used in this act:
(i) "Branch" means any manned branch bank, branch office, branch agency, additional office, separate office or any branch or separate place of business operated by a parent bank in this state which offers any or all of the banking services conducted at a parent bank, but excludes a remote electronic terminal as defined in W.S. 13-1-501(a)(v) and loan production offices operated in accordance with W.S. 13-2-709;
(ii) Repealed by Laws 1995, ch. 62, 2.
(iii) Repealed by Laws 1993, ch. 115, 3.
(iv) "Parent bank" means a state or national bank which operates or has applied to operate a branch in this state;
(v) "This act" means W.S. 13-2-701 through 13-2-708.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 7 - Statewide Branch Banking › Section 13-2-703 - Amendment to Articles of Incorporation.

13-2-703. Amendment to articles of incorporation.
Before opening a branch under this act, the applicant bank shall deliver an amendment to its articles of incorporation reflecting the branch to the commissioner in the same manner provided in W.S. 13-4-102. W.S. 13-4-102 applies to all amendments to articles of incorporation delivered under this section.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 7 - Statewide Branch Banking › Section 13-2-704 - Closing of a Branch.

13-2-704. Closing of a branch.
No branch shall be closed unless the parent bank certifies to the commissioner that all persons with an account at that branch have been notified of the date of closure not less than sixty (60) days before the date of closure and that a notice indicating the branch will be closed will be published in a newspaper of general circulation in the county in which the branch is located at least weekly for three (3) consecutive weeks prior to the calendar week in which the date of closure will occur.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 7 - Statewide Branch Banking › Section 13-2-705 - Bank Facility Not a Branch.

13-2-705. Bank facility not a branch.
(a) Notwithstanding any other provision of this act, a bank may establish and operate a facility which shall not be considered a branch, but an extension or expansion of an existing parent bank or branch if the facility is:
(i) Within the boundary lines of a single contiguous area of property owned or leased and occupied as a place of business by a parent bank or branch bank, whether or not the facility is physically connected to the bank or place of business; or
(ii) Across a street, alley, railroad right-of-way or thoroughfare from the existing parent bank or branch bank when such facility is physically connected to the bank or place of business by a private, enclosed, secure overhead passageway, underground tunnel or pneumatic tube system; or
(iii) Within one thousand (1,000) yards of the parent bank or branch bank, whether or not such facility is physically connected to the bank or place of business, after being granted prior written approval of the department stating that the facility qualifies for this exemption.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 7 - Statewide Branch Banking › Section 13-2-706 - No Limits on Authority of Existing Branches and Banks.

13-2-706. No limits on authority of existing branches and banks.
Nothing in this act shall limit the authority of any existing branch or bank operating at the time this act takes effect.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 7 - Statewide Branch Banking › Section 13-2-707 - Prohibition on Foreign Bank Branching.

13-2-707. Prohibition on foreign bank branching.
Nothing in this act shall be construed as permitting a bank to establish a branch in any state other than Wyoming. Except as provided in W.S. 13-2-702(m) and 13-2-901 through 13-2-904, a bank not authorized or organized to do business under the laws of this state, or a bank organized under the laws of a country other than the United States, shall not establish or operate a branch in the state of Wyoming.
2023 Wyoming Statutes › Title 13 - Banks, Banking and Finance › Chapter 2 - Organization of Banks › Article 7 - Statewide Branch Banking › Section 13-2-708 - Antitrust Laws.

13-2-708. Antitrust laws.
If, but for this act, any action by any one (1) or more banks would be in violation of the laws of this state or of the United States, commonly referred to as the antitrust laws, then this act shall be construed so as to permit or require only actions that shall not be in violation of the laws.