Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 57 - REGULATION ON CUSTODIAL AGREEMENTS AND THE USE OF CLEARING CORPORATIONS › Section 57-3 - Definitions

Current through July 13, 2024
When used in this regulation, the term:
(a) "Agent" means a national bank, state
				bank, or trust company that maintains an account in its name in a clearing
				corporation or that is a member of the Federal Reserve System and through which
				a custodian participates in a clearing corporation, including the
				Treasury/Reserve Automated Debt Entry Securities System (TRADES) or Treasury
				Direct systems, except that with respect to securities issued by institutions
				organized or existing under the laws of a foreign country or securities used to
				meet the deposit requirements pursuant to the laws of a foreign country as a
				condition of doing business therein, "agent" may include a corporation that is
				organized or existing under the laws of a foreign country and that is legally
				qualified under those laws to accept custody of securities.
(b) "Clearing corporation" means a
				corporation as defined in W.S. § 34.1-8-102(a)(v) that is organized for
				the purpose of effecting transactions in securities by computerized book-entry,
				except that with respect to securities issued by institutions organized or
				existing under the laws of a foreign country or securities used to meet the
				deposit requirements pursuant to the laws of a foreign country as a condition
				of doing business therein, "clearing corporation" may include a corporation
				that is organized or existing under the laws of a foreign country and which is
				legally qualified under those laws to effect transactions in securities by
				computerized book-entry. Clearing corporation also includes TRADES and
				"Treasury Direct" book-entry securities systems established pursuant to 31
				U.S.C. § 3100
et seq.
, 12 U.S.C. pt. 391, and 5 U.S.C. pt.
				301.
(c) "Custodian" means a
				national bank, state bank or trust company that shall at all times during which
				it acts as a custodian pursuant to this regulation be no less than adequately
				capitalized as determined by the standards adopted by United States banking
				regulators and that is regulated by either state banking laws or is a member of
				the Federal Reserve System and that is legally qualified to accept custody of
				securities in accordance with the standards set forth below, except that with
				respect to securities issued by institutions organized or existing under the
				laws of a foreign country, or securities used to meet the deposit requirements
				pursuant to the laws of a foreign country as a condition of doing business
				therein, "custodian" may include a bank or trust company incorporated or
				organized under the laws of a country other than the United States that is
				regulated as such by that country's government or an agency thereof that shall
				at all times during which it acts as a custodian pursuant to this regulation be
				no less than adequately capitalized as determined by the standards adopted by
				international banking authorities and that is legally qualified to accept
				custody of securities;
(d)
				"Custodied securities" means securities held by the custodian or its agent or
				in a clearing corporation, including the TRADES or Treasury Direct
				systems.
(e) "Treasury/Reserve
				Automated Debt Entry Securities System" (TRADES) and "Treasury Direct" mean the
				book entry securities systems established pursuant to 31 U.S.C. §
				3100
et seq
., 12 U.S.C. pt. 391 and 5 U.S.C. pt. 301. The
				operation of TRADES and Treasury Direct are subject to 31 C.F.R. pt. 357,
et seq
.
(f)
				"Security" has the same meaning as that defined in W.S. §
				34.1-8-102(a)(xv).
(g) "Securities
				certificate" has the same meaning as that defined W.S. §
				34.1-8-102(a)(xvi).