reglab/statecodes huggingface dataset:
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 4 - SPECIAL DISTRICTS FINANCIAL REPORTING GENERAL › Section 4-6 - Instructions For Reporting

Current through July 13, 2024
(a) It is
				recognized the reported census financial data may not always agree with audited
				financial statements or with accounting entries made in accordance with
				Generally Accepted Accounting Principles (GAAP);
(b) The Director shall provide specific
				instructions for completion of each reporting form to ensure financial data
				reported to the Department is uniformly identified, grouped, and reported. The
				reporting entity shall comply with the Director's instructions, even though
				compliance requires modification of internal accounting programs, procedures,
				or reports. The Department shall provide information and assistance to the
				reporting entities.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 4 - SPECIAL DISTRICTS FINANCIAL REPORTING GENERAL › Section 4-8 - Risk Assessment

Current through July 13, 2024
The entities, whose financial accounts and records are
				  subject to supervision by the Director, shall be classified according to their
				  relative risk assessment. The higher of the total revenues received, or total
				  expenditures made, by the district during the fiscal year under review, subject
				  to the limitations set forth in
				  W.S.
				  9-1-507(a)(iii) (A-D), shall
				  determine the level of risk assessment. The level of risk assessment shall
				  determine the type of oversight or supervision required of the entity, unless
				  special audit requirements imposed by other state or federal laws, rules,
				  regulations, contracts, or agreements require a different type or level of
				  oversight or supervision. The level of risk assessment for each entity shall be
				  determined each fiscal year.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 4 - SPECIAL DISTRICTS FINANCIAL REPORTING GENERAL › Section 4-9 - Levels of Risk Assessment

Current through July 13, 2024
(a) Using the
				required reports as a basis for assessment and depending upon the higher of the
				total revenues received, or total expenditures made, by the district during the
				fiscal year under review subject to the limitations set forth in
				W.S.
				9-1-507(a)(iii)(A-D), there
				shall be a total of five levels for special districts. There are three levels
				with oversight prescribed in the statutes and two additional levels between
				$100,000 and $1,000,000 for special districts, with oversight as defined in
				these rules. The complete list is as follows:
(i) Level A - $1,000,000 and over;
(ii) Level B - $500,000 to
				$999,999.99;
(iii) Level C -
				$100,000 to $499,999.99;
(iv) Level
				D - $25,000.01 to $99,999.99;
(v)
				Level E - $25,000 or less.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 4 - SPECIAL DISTRICTS FINANCIAL REPORTING GENERAL › Section 4-9 - Levels of Risk Assessment

Current through July 13, 2024
(a) Using the
				required reports as a basis for assessment and depending upon the higher of the
				total revenues received, or total expenditures made, by the istrict during the
				fiscal year under review subject to the limitations set forth in
				W.S.
				9-1-507(a)(iii) (A-D), there
				shall be a total of five levels for special districts. There are three levels
				with oversight prescribed in the statutes and two additional levels between
				$100,000 and $1,000,000 for special districts, with oversight as defined in
				these rules. The complete list is as follows:
(i) Level A - $1,000,000 and over;
(ii) Level B - $500,000 to
				$999,999.99;
(iii) Level C -
				$100,000 to $499,999.99;
(iv) Level
				D - $25,000.01 to $99,999.99;
(v)
				Level E - $25,000 or less.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 4 - SPECIAL DISTRICTS FINANCIAL REPORTING GENERAL › Section 4-10 - Procedures Required Annually

Current through July 13, 2024
Each entity is required to perform the level of procedures
				  required for their respective risk level, or a greater level of assurance (at
				  their option) at the close of each fiscal year. Completion of the procedures
				  performed shall be certified under oath by the officials of the entity on the
				  annual report summary. The annual report summary shall be filed with the
				  Department no later than September 30th for the
				  prior fiscal year being reported. The annual report summary form is available
				  on the Department of Audit, Public Funds website.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 4 - SPECIAL DISTRICTS FINANCIAL REPORTING GENERAL › Section 4-11 - Certification

Current through July 13, 2024
Each annual report summary shall contain a certificate,
				  signed by the appointed or elected chairman or president and the treasurer of
				  the special district. The certificate shall verify under oath that, to the best
				  of their knowledge, the information contained in the census report and the risk
				  level procedures performed is a true, accurate, and complete presentation of
				  the financial activities of the reporting entity.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 4 - SPECIAL DISTRICTS FINANCIAL REPORTING GENERAL › Section 4-12 - Deadline For Filing Additional Procedures

Current through July 13, 2024
All applicable reporting shall be due to the Department based
				  on risk level assessment.
(a)
				Additional procedures for risk levels A and B are due to the Department by
				December 31st for the prior fiscal year being
				reported. A copy of the contract for or engagement letter with an independent
				auditor for a CPA Audit or Review is due to the Department by September
				30th for the prior fiscal year being
				reported.
(b) Additional procedures
				for risk levels C through E are due to the Department by September
				30th for the prior fiscal year being
				reported.
(c) The annual report
				summary is due, regardless of the entity's risk assessment level, to the
				Department by September 30th for the prior fiscal
				year being reported.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 7 - FIRST LIEN MORTGAGES AS COLLATERAL TO SECURE PUBLIC FUNDS › Section 7-1 - Authority

Current through July 13, 2024
The basis for these rules is
				  W.S.
				  9-4-821(a)(vi) which
				  provides that banks and/or savings and loan associations may offer as security
				  for deposits of public funds, conventional real estate first mortgages at a
				  ratio of one and one-half to one (1.5:1) of the value of public funds secured
				  thereby. The purpose of these rules is to set forth the procedures for pledging
				  such conventional real estate first mortgages and to provide reporting
				  requirements with a view to assure the protection of uninsured deposits of
				  public moneys with the banks and savings and loan associations in this
				  state.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 7 - FIRST LIEN MORTGAGES AS COLLATERAL TO SECURE PUBLIC FUNDS › Section 7-2 - Collateral

Current through July 13, 2024
It shall be the duty and responsibility of the proper public
				  entity treasurer to receive and verify the adequacy of the collateral, with the
				  prior approval of the proper governing board, at such time as the funds are
				  placed upon deposit with the depository financial institution and in such
				  amount as to insure adequacy in the required ratio for the term of the deposit.
				  When it is determined by the municipality that conventional real estate
				  mortgages are to be accepted as security for its deposit of public funds, the
				  following alternatives for evidencing such collateralization may be accepted
				  and conditions relating thereto shall be followed:
(a) Collateral may be held in custody by the
				trust department of the depository when such trust department is formally
				organized and established pursuant to the authority of the proper bank
				regulatory authority, or a trust company chartered by the State of Wyoming, or
				any third party financial institution (bank or savings and loan association)
				authorized to hold property in escrow, and provided that the collateral shall
				include:
(i) The original note.
(ii) Copy of title insurance policy or legal
				opinion.
(iii) Delivery to the
				proper public fund treasurer, joint-custody receipt and/or escrow agreement
				identifying the collateral as set forth in the reports of this
				regulation.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 7 - FIRST LIEN MORTGAGES AS COLLATERAL TO SECURE PUBLIC FUNDS › Section 7-3 - Reports of Significant Changes of Eligible Collateral

Current through July 13, 2024
Upon acquiring knowledge of any significant deficiency
				  adversely affecting the eligibility of collateral, the depository institution
				  shall immediately report such change to the proper public fund treasurer and
				  shall promptly replace the deficient collateral with an acceptable pledge. A
				  significant deficiency in collateral shall include a default in payment for
				  more than forty-five (45) days or any decrease in the value to the property
				  less than the value initially tendered.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 7 - FIRST LIEN MORTGAGES AS COLLATERAL TO SECURE PUBLIC FUNDS › Section 7-4 - Substitutions

Current through July 13, 2024
Substitutions may be made by the depository institution to
				  the trustee provided notice is given to the proper treasurer at the time of
				  substitution.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 7 - FIRST LIEN MORTGAGES AS COLLATERAL TO SECURE PUBLIC FUNDS › Section 7-5

Current through July 13, 2024
Property Value It shall be the responsibility of the
				  depository institution to provide the proper governing board such evidence as
				  it may require as to the value of the collateral offered
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 7 - FIRST LIEN MORTGAGES AS COLLATERAL TO SECURE PUBLIC FUNDS › Section 7-6 - Violation

Current through July 13, 2024
Penalty. Willful violation of any of these regulations shall
				  be grounds for cancellation, suspension or revocation of authority to act as an
				  eligible depository.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 8 - AUDIT REPORTING REQUIREMENTS FOR GOVERNMENTAL ENTITIES DEPARTMENT OF AUDIT, PUBLIC FUNDS › Section 8-1 - Purpose

Current through July 13, 2024
Statutes require the department to supervise the books,
				  financial accounts and financial records of governmental entities within the
				  state; to require correction of faults or erroneous systems of accounting; and
				  to report violations of state law to the attorney general.
Nothing in these rules shall be deemed to impose requirements
				  for audit procedures in excess of those required by standards promulgated by
				  current government auditing standards or standards of the
				  AICPA.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 8 - AUDIT REPORTING REQUIREMENTS FOR GOVERNMENTAL ENTITIES DEPARTMENT OF AUDIT, PUBLIC FUNDS › Section 8-2 - Authority

Current through July 13, 2024
The statutes grant the department of audit the authority to
				  promulgate rules and regulations to carry out audit procedures performed for
				  governmental entities. (W.S.
				  9-1-507(h) ). The statute
				  authorizes the director to accept audits performed by a certified public
				  accountant. (W.S. W.S.
				  W.S.
				  9-1-507(a)(v) ). The statute
				  requires the department to notify the attorney general of any indication of
				  violation of state law noted during the review of audit reports. (W.S.
				  W.S.
				  16-4-123(b) 
				  ).
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 8 - AUDIT REPORTING REQUIREMENTS FOR GOVERNMENTAL ENTITIES DEPARTMENT OF AUDIT, PUBLIC FUNDS › Section 8-4 - Definitions

Current through July 13, 2024
As used in these rules:
"AICPA" means the American Institute of Certified Public
				  Accountants;
"Audit" means an examination performed under the requirements
				  of state statutes,
Government Auditing Standards
or standards
				  established by the AICPA;
"CPA" means a certified public accountant licensed or
				  authorized to practice in the State of Wyoming;
"Department" means the department of audit;
"Director" means the director of the department of
				  audit;
"Government Auditing Standards
"means the
				  standards promulgated by the Comptroller General, United States Government
				  Accountability Office;
"Governmental entity" means any state agency, University of
				  Wyoming or any other local government; "Local Government" means cities and
				  towns, counties, school districts, joint powers boards, public entities,
				  community college districts, special districts and their governing bodies, all
				  political subdivisions of the state, and their agencies, instrumentalities and
				  institutions.
"Review" means
an examination
performed
in
				  accordance
with the
Statements on Standards for
Accounting
				  and Review Services issued by the American Institute of Certified Public
				  Accountants.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 8 - AUDIT REPORTING REQUIREMENTS FOR GOVERNMENTAL ENTITIES DEPARTMENT OF AUDIT, PUBLIC FUNDS › Section 8-5 - Management Letter

Current through July 13, 2024
Any management letter or other written correspondence
				  submitted to the audited entity regarding the results of the audit shall also
				  be submitted to the department as an accompaniment to the auditor's
				  report.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 10 - PUBLIC OFFICER TRAINING › Section 10-1 - Application

Current through July 13, 2024
As prescribed by Wyoming Statute
										9-1-510(a), the Department
				  of Audit shall establish minimum training requirements for public officers.
				  These rules apply to all public officers as the term is defined in W.S.
				  W.S.
				  9-1-510(a).
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 10 - PUBLIC OFFICER TRAINING › Section 10-2 - Training deadline

Current through July 13, 2024
All public officers shall receive instruction in accordance
				  with the minimum training requirements set forth herein within one (1) year of
				  assuming office or assuming responsibility for handling the accounts of their
				  office.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 10 - PUBLIC OFFICER TRAINING › Section 10-3 - Training requirements

Current through July 13, 2024
Required training shall be dependent on the role a public
				  official has in the governmental entity.
(a) A list of the minimum training
				requirements for certain specified roles shall be published on the Wyoming
				Department of Audit, Public Funds, website (
https://audit.wyo.gov/public-funds
).
				The Wyoming Department of Audit, Public Funds shall also publish a separate
				list that include organizations, courses, and professional memberships offering
				related training content. The list of training requirements may include items
				related to government which are not specifically covered in certain graduate or
				professional certification programs. These lists establish a minimum level of
				competency related to the financial management of a governmental
				entity.
(b) Notwithstanding
				subsection (a) of this Section of this Chapter of these Rules, a public officer
				having obtained one or more of the following graduate degrees or professional
				certification programs shall be considered by the Department of Audit as having
				met the minimum training requirements:
(i)
				Bachelors degree in accounting or finance;
(ii) Masters degree in accounting or
				finance;
(iii) Certified Public
				Accountant (CPA);
(iv) Certified
				Internal Auditor (CIA);
(v)
				Certified Management Accountant (CMA); and
(vi) Certified Government Financial Manager
				(CGFM);
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 10 - PUBLIC OFFICER TRAINING › Section 10-4 - Alternate Considerations

Current through July 13, 2024
If the public officer has an educational background not
				  listed in Section
				  3 of this Chapter of these Rules they feel
				  meets the minimum training requirements, the public officer may request
				  consideration by the Department of Audit of that educational background as
				  being sufficient to meet the intent of the minimum training requirements of
				  these rules. To be considered, the public officer shall prepare a written
				  summary of the educational background to be considered and explanation as to
				  how that background meets the training requirements identified in Section
				  3 of this Chapter. The request shall be
				  submitted to the Department of Audit, Public Funds Division which will
				  addressed within thirty (30) days of receipt.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 10 - PUBLIC OFFICER TRAINING › Section 10-5 - Training Waiver

Current through July 13, 2024
A public officer may make a written request for waiver or
				  modification of the requirements for the public officer to receive instruction
				  within one (1) year of assuming office or taking responsibility for handling
				  accounts. Such request shall include the name and title of the public officer
				  as well as the reason(s) for the request. Written requests shall be submitted
				  to the Director of the Department of Audit. The Director of the Department of
				  Audit may waive or modify any requirement of this Chapter if he or she finds
				  that:
(1) no approved courses exist
				in either a virtual format or within the state, or
(2) if available courses are cost
				prohibitive. If approved, waivers may be valid for up to one (1) year from the
				approval date. Entities shall be notified in writing as to the status of the
				request. Upon expiration of the waver, the public officer shall provide proof
				that training requirements have been met or approval of a new waiver in
				place.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 10 - PUBLIC OFFICER TRAINING › Section 10-6 - Maintaining Training Documentation After Completion

Current through July 13, 2024
To the extent required to maintain the qualifying
				  certification held by the public officer, participation of public officers in
				  approved training may be evidenced by at least one of the following items and
				  shall be maintained in the employee file for the duration of their employment.
				  Additionally, documentation demonstrating proof of training, for each public
				  officer, shall be provided to the Department of Audit within 90 days of
				  completion:
(a) Certificate of
				completion. Certificate shall include date and time, course content, and course
				length;
(b) Affidavit. A signed
				affidavit under oath of penalty of perjury. The affidavit shall include date
				and time, course content, course length, location, and instructor.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0005 - Public Funds › Chapter 10 - PUBLIC OFFICER TRAINING › Section 10-7 - Supplemental training

Current through July 13, 2024
Under certain circumstances the Director of the Department of
				  Audit may deem further training necessary to address issues discovered in the
				  Department's oversight of the public officer. If weaknesses are found to exist,
				  additional training may be required. The following are non-exclusive examples
				  of such weaknesses:
(a) An audit of
				the public officer's entity identifies lack of adequate internal controls
				related to the accounts of the office;
(b) An audit of the public officer's entity
				identifies a lack of aggregate understanding or compliance with the minimum
				training requirements;
(c)
				Significant errors or discrepancies exist within the entity's reports that are
				annually required to be submitted to the Department of Audit, such as those
				described in Department of Audit, Public Funds Division rules, Chapter 1,
				Section 7; and
(d) Non-compliance with due dates as set by
				Department of Audit and Wyoming statute.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 1 - GENERAL MATTERS AND DEFINITIONS › Section 1-1 - Authority

Current through July 13, 2024
(a) Generally, these Rules and Regulations
				(herein after referred to as the "Rules") are promulgated pursuant to
				W.S.
				16-3-102(a)(i). Some
				Chapters are also promulgated pursuant to other, more specific statutory
				authority, as specified in such Chapter.
(b) This Chapter provides for matters that
				apply generally to residential mortgage loans and supplies general information
				that is basic and common to the balance of these Rules.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 1 - GENERAL MATTERS AND DEFINITIONS › Section 1-2 - Definitions

Current through July 13, 2024
(a) When used in these Rules, Chapters 1
				through 5, the following definitions apply:
(i) "Appeal period" means the period of
				twenty (20) days after the notice date.
(ii) "Cease" and "desist order" means an
				order that instructs the ordered person to cease and desist from proscribed
				activity.
(iii) "Commissioner"
				means the State Banking Commissioner of the state of Wyoming.
(iv) "Contested case" means any formal or
				investigative hearing before the Commissioner.
(v) "Division" means the Department of Audit,
				Division of Banking.
(vi) "Hearing"
				means a public hearing before the Commissioner on an application as provided in
				W.S.
				40-23-107(d) or W.S.
				W.S.
				40-23-126(c), or an appeal
				from the Commissioners notice of intent.
(vii) "Hearing date" means the date set by
				the hearing officer for the hearing. The hearing date shall be no less than ten
				(10) days and no more than ninety (90) days from the date the appeal is filed
				with the Commissioner. Upon agreement of the parties and the hearing officer,
				the hearing date may be extended past ninety (90) days from the date the appeal
				is filed.
(viii) "Hearing notice"
				means the notice of the hearing given by the hearing officer to the
				respondent.
(ix) "Hearing officer"
				means the any person appointed by the Commissioner to preside over a contested
				case.
(x) "Notice date" means the
				date on which the ordered person is served with a notice of intent, which shall
				conclusively be the date shown on the return receipt or other reliable report
				of service.
(xi) "Notice of intent"
				means the notice given by the Commissioner that he intends to issue a final
				order.
(xii) "Order" means a cease
				and desist order, consent order, penalty order, order to show cause, adjustment
				order, or any other order issued by the Commissioner.
(xiii) "Ordered person" means a person who or
				which is the subject of an order and upon whom or which the order is to operate
				directly.
(xiv) "Penalty order"
				means an order, or such portion of an order, that imposes a civil monetary
				penalty.
(xv) "Person" means an
				individual, sole proprietorship, partnerships, corporation, limited liability
				company or other entity, public or private.
(xvi) "Proscribed activity" means, as
				determined by the Commissioner, any action or inaction that violates the
				Wyoming Residential Mortgage Practices Act.
(xvii) "Residential mortgage loan" means a
				first mortgage loan made primarily for personal, family or household use and
				primarily secured by a security interest on residential real property in
				Wyoming upon which is constructed or intended to be constructed a
				dwelling.
(xviii) "Respondent"
				means the person whose legal rights, duties, privileges, or conduct are the
				subject of a hearing before the Commissioner.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 1 - GENERAL MATTERS AND DEFINITIONS › Section 1-3 - Filing

Current through July 13, 2024
(a) All papers, records and all other
				property of the division shall be maintained and filed in the office of the
				Commissioner.
(b) All
				communications shall be made to the Commissioner and the records of such
				communications kept in said office.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 1 - GENERAL MATTERS AND DEFINITIONS › Section 1-4 - Computation of Time

Current through July 13, 2024
Unless otherwise stated, in computing any time period
				  prescribed by these Rules, the day of the act or event from which the time
				  period begins to run shall not be included. The last day of the period so
				  computed shall be included, unless it is a Saturday, a Sunday, or a legal
				  holiday, in which event the period runs until the end of the next day which is
				  not a Saturday, a Sunday, or a legal holiday. When the period is less than
				  eleven (11) days, Saturdays, Sundays, and legal holidays shall be excluded in
				  the computation.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 1 - GENERAL MATTERS AND DEFINITIONS › Section 1-5 - Rules of Construction

Current through July 13, 2024
(a) Unless the
				content clearly indicates otherwise, this Chapter applies to all
				Chapters.
(b) Unless the context
				clearly indicates otherwise, these Rules shall be construed as follows:
(i) Words and phrases shall be taken in their
				ordinary and usual use, but technical words and phrases having a peculiar and
				appropriate meaning in law or in the residential mortgage loan industry shall
				be understood according to their technical import.
(ii) Reference to "Wyoming Statutes" or the
				abbreviation "W.S." means the Wyoming Statutes as published from time to time
				and, pending reduction to published form and subject to applicable effective
				dates, all supplements, additions and other modifications enacted by the
				Legislature of the State of Wyoming. Reference to a named act or rule shall be
				treated correspondingly.
(iii)
				Words in the present tense include the future tense;
(iv) Words in the plural form include the
				singular and words in the singular form include the plural;
(v) Words expressed using one gender include
				the other genders;
(vi) Use of the
				term includes or including means that the list of items is not exhaustive but
				instead is illustrative.
(vii) If
				any provision of the Act or these Rules or its application to any person or
				circumstance is held invalid, the invalidity does not affect other provisions
				or applications of the Act or Rules which can be given effect without the
				invalid provision or application, and to this end the provisions are
				severable.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 1 - GENERAL MATTERS AND DEFINITIONS › Section 1-6 - Records

Current through July 13, 2024
If any book, log, journal, document, record or information
				  relevant and necessary to the examination or investigation is kept or
				  maintained electronically, the business examined or investigated shall provide
				  such data or access to data in an electronic format when requested by the
				  Commissioner.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 2 - MORTGAGE LENDER/BROKER LICENSING; SURETY BOND; PREPAYMENT PENALTY DISCLOSURE FORM › Section 2-1 - Application/Licensing; Surety Bond

Current through July 13, 2024
(a) Each applicant
				for a mortgage lender/broker shall provide all of the information required on
				the license application form prescribed by the Commissioner, as
				applicable.
(b) An application to
				obtain a mortgage lender/broker license pursuant to
				W.S.
				40-23-107 shall be considered "filed" only
				after all information and appropriate processing fees required by the
				Commissioner have been received by the Commissioner.
(c) An application for a license is a
				continuing obligation up until approval and issuing of the license applied for.
				If information in an application becomes inaccurate after filing, the applicant
				shall promptly notify the Commissioner.
(d) Pursuant to W.S. W.S.
				W.S.
				40-23-110(a)(ii), effective
				January 1, 2010, an initial surety bond must be maintained by all licensees in
				the amount of twenty five thousand dollars ($25,000.00) until the first renewal
				date after the initial license is obtained. When renewing a license each year,
				the bond amount shall be adjusted based upon the volume of business under the
				act transacted during the previous calendar year according to the following
				scale:
(i) If the total volume of Wyoming
				loans made or brokered under the act was equal to or less than three million
				dollars ($3,000,000.00), the amount of the bond shall be twenty-five thousand
				dollars ($25,000.00).
(ii) If the
				total volume of loans Wyoming made or brokered under the act was greater than
				three million dollars ($3,000,000.00) but less than ten million dollars
				($10,000,000.00), the amount of the bond shall be fifty thousand dollars
				($50,000.00).
(iii) If the total
				volume of Wyoming loans made or brokered under the act was equal to or greater
				than ten million dollars ($10,000,000.00) the amount of the bond shall be one
				hundred thousand dollars ($100,000.00).
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 2 - MORTGAGE LENDER/BROKER LICENSING; SURETY BOND; PREPAYMENT PENALTY DISCLOSURE FORM › Section 2-2 - Application Fee

Current through July 13, 2024
(a) Pursuant to
				W.S.
				40-23-107(a), each filed
				application for one (1) or more licenses shall be accompanied by:
(i) A five hundred dollar ($500.00)
				application fee for the home office location; and
(ii) An additional application fee of fifty
				dollars ($50.00) for each additional location.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 2 - MORTGAGE LENDER/BROKER LICENSING; SURETY BOND; PREPAYMENT PENALTY DISCLOSURE FORM › Section 2-3 - Change in Control Fee

Current through July 13, 2024
(a) An application
				filed as a result of a change in control pursuant to
				W.S.
				40-23-108 shall be accompanied by:
(i) A five hundred dollar ($500.00)
				application fee for the home office location; and
(ii) An additional application fee of fifty
				dollars ($50.00) for each additional location.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 2 - MORTGAGE LENDER/BROKER LICENSING; SURETY BOND; PREPAYMENT PENALTY DISCLOSURE FORM › Section 2-4 - License Renewal Fee and Annual Report

Current through July 13, 2024
(a) The annual
				report required pursuant to
				W.S.
				40-23-109 shall be accompanied by:
(i) A five hundred dollar ($500.00) renewal
				fee for the home office location; and
(ii) An additional renewal fee of fifty
				dollars ($50.00) for each additional location.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 2 - MORTGAGE LENDER/BROKER LICENSING; SURETY BOND; PREPAYMENT PENALTY DISCLOSURE FORM › Section 2-5 - License Modification Fee

Current through July 13, 2024
(a) Any
				modification required to a license pursuant to
				W.S.
				40-23-107(g), shall be
				submitted with a fifty dollar ($50.00) license modification fee.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 2 - MORTGAGE LENDER/BROKER LICENSING; SURETY BOND; PREPAYMENT PENALTY DISCLOSURE FORM › Section 2-6 - Prepayment Penalty Disclosure Form

Current through July 13, 2024
If a prepayment penalty may be a condition of a residential
				  mortgage loan offered to a borrower, a disclosure notice in substantially the
				  following form must be provided to the borrower pursuant to
				  W.S.
				  40-23-113(a)(ii) and W.S.
				  W.S.
				  40-23-115:
__________________________________________________________
IMPORTANT PREPAYMENT PENALTY DISCLOSURE
The loan that you are applying for contains a PREPAYMENT
				  PENALTY provision. If you pay off or refinance this loan before
(date)
, you will be assessed a
				  PREPAYMENT
PENALTY calculated according the following formula:
(complete explanation of the prepayment penalty
				  calculation)
Do not sign this document unless you fully understand and
				  accept the prepayment penalty provision of this loan.
Applicant ______________________ Date ______________
Applicant ______________________ Date
				  ______________
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 3 - LOAN ORIGINATOR LICENSING; FEES; INFORMATION CHALLENGE › Section 3-1 - Application/Licensing

Current through July 13, 2024
(a) Each mortgage loan originator applicant
				shall provide all of the information required on the license application form
				prescribed by the Commissioner, as applicable
(b) An application to obtain a mortgage loan
				originator license pursuant to
				W.S.
				40-23-125 shall be considered "filed" only
				after all information and appropriate processing fees required have been
				received by the Commissioner.
(c)
				An application for a license is a continuing obligation up until approval and
				issuing of the license applied for. If information in an application becomes
				inaccurate after filing, the applicant shall promptly notify the
				Commissioner.
(d) A mortgage loan
				originator license is only active if the mortgage loan originator is sponsored
				by an exempt entity or a mortgage lender or mortgage broker licensed under the
				Wyoming Residential Mortgage Practices Act, and registered with the Nationwide
				Mortgage Licensing System. A mortgage loan originator can only be sponsored by
				and conduct business as a mortgage loan originator for only one company at any
				time.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 3 - LOAN ORIGINATOR LICENSING; FEES; INFORMATION CHALLENGE › Section 3-2 - Application Fee

Current through July 13, 2024
Pursuant to
				  W.S.
				  40-23-125(f), each
				  application for a mortgage loan originator license shall be accompanied by a
				  one hundred and fifty dollar ($150.00) application fee.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 3 - LOAN ORIGINATOR LICENSING; FEES; INFORMATION CHALLENGE › Section 3-3 - License Renewal Fee; Reinstatement; Continuing Education

Current through July 13, 2024
(a) Pursuant to
				W.S.
				40-23-129(a)(iii), the
				mortgage loan originator license renewal fee shall be one hundred and fifty
				dollars ($150.00).
(b) Pursuant to
				W.S. W.S.
				40-23-129(b) and W.S.
				W.S.
				40-23-130(h), if any
				licensed mortgage loan originator fails to satisfy the requirements for renewal
				of their license by December 1, that license shall expire on December 31. The
				mortgage loan originator shall have until March 1 of the year immediately
				following the year the license expired to satisfy all of the renewal
				requirements under W.S. W.S.
				W.S.
				40-23-129(a)(i), (ii) and
				(iii) and reinstate the license. Business as
				a mortgage loan originator may not be conducted after December 31 until such
				time as all of the renewal requirements have been satisfied and the license has
				been reinstated to active status on the Nationwide Mortgage Licensing System.
				Failure to complete all of the renewal requirements by March 1 will result in
				final expiration of the license.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 3 - LOAN ORIGINATOR LICENSING; FEES; INFORMATION CHALLENGE › Section 3-4 - Information Challenge on Report to the Registry

Current through July 13, 2024
(a) Upon
				written request, an individual is entitled to a hearing to challenge any
				information relating to that individual entered onto the registry by the
				Commissioner if the individual has previously provided a written challenge to
				the Commissioner regarding such information and the Commissioner has provided a
				written response that the information being challenged will not be removed from
				the registry.
(b) Notwithstanding
				any provision under the Wyoming Administrative Procedure Act, a request for
				hearing shall not be made more than fifteen (15) days after the individual has
				received notification by certified mail that information being challenged will
				not be removed from the registry by the Commissioner and the supporting reasons
				for that decision.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 5 - RULES OF PRACTICE BEFORE THE COMMISSIONER › Section 5-1 - Authority

Current through July 13, 2024
This Chapter is promulgated in part pursuant to W.S. §
									
										16-3-102(a)(i) (mandate to
				  promulgate rules of practice and procedure).
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 5 - RULES OF PRACTICE BEFORE THE COMMISSIONER › Section 5-2 - Wyoming Administrative Procedures Act (WAPA)

Current through July 13, 2024
The WAPA as defined by
				  W.S.
				  16-3-101
et seq.
is
				  incorporated herein by reference.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 5 - RULES OF PRACTICE BEFORE THE COMMISSIONER › Section 5-3 - Wyoming Rules of Civil Procedure (WRCP)

Current through July 13, 2024
The WRCP insofar as they are applicable and not inconsistent
				  with the WAPA are incorporated herein by reference.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 5 - RULES OF PRACTICE BEFORE THE COMMISSIONER › Section 5-4 - Issuance of Orders

Current through July 13, 2024
(a) The
				Commissioner is empowered to issue orders under the Wyoming Residential
				Mortgage Practices Act. All orders shall be in writing.
(b) All orders shall be delivered to the
				ordered person;
(i) by certified mail,
				addressed to the last known address of the ordered person, as shown on the
				records of the Commissioner; or
(ii) in the manner provided for service of
				process under the Wyoming Rules of Civil Procedure.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 5 - RULES OF PRACTICE BEFORE THE COMMISSIONER › Section 5-5 - Content of Notices of Intent and Orders

Current through July 13, 2024
(a) A notice of
				intent shall include the following:
(i) The
				name and street mailing address of each ordered person;
(ii) The effective date of the order, unless
				specified in the order;
(iii) A
				copy of the order; and
(iv) A
				statement informing the ordered person that it has the right to a hearing on
				the order before the Commissioner and that failure to request a hearing within
				the appeal period will result in the waiver of the right to appeal the order
				before the Commissioner.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 5 - RULES OF PRACTICE BEFORE THE COMMISSIONER › Section 5-6 - Representation before the Commissioner; Notice of Appearance

Current through July 13, 2024
(a) A person may represent itself, or may be
				represented either by a Wyoming attorney or by a qualified foreign attorney, in
				proceedings before the Commissioner.
(b) Each Wyoming attorney and each qualified
				foreign attorney shall file with the Commissioner a notice of appearance before
				representing a party in connection with a hearing under this Chapter. In the
				case of a qualified foreign attorney, the notice of appearance shall have no
				meaning or effect unless and until his associated Wyoming attorney shall have
				also filed with the Commissioner a notice of appearance. All notices of
				appearance shall set forth all facts necessary to determine that the attorney
				is either a Wyoming attorney or a qualified foreign attorney and is authorized
				to represent his client under this Section.
(c) Commissioner counsel shall not be
				required to file a notice of appearance.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 5 - RULES OF PRACTICE BEFORE THE COMMISSIONER › Section 5-7 - Ex Parte Communication

Current through July 13, 2024
Unless required for the disposition of ex parte matters
				  authorized by law, the hearing officer shall not consult directly or indirectly
				  with any party regarding a submission, except as allowed under
				  W.S.
				  16-3-111. A request for status of a
				  proceeding is not an ex parte communication.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 5 - RULES OF PRACTICE BEFORE THE COMMISSIONER › Section 5-8 - Confidentiality

Current through July 13, 2024
(a) All matters and proceedings arising out
				of or related to an application or a suspension, revocation, or an order shall
				be confidential, except as otherwise provided in this Section.
(b) At the hearing, the hearing officer may
				adjourn the public portion of the hearing at any time to consider or receive
				any protected material in a session that is not open to the public. To the
				extent that information is disclosed at public portions of the hearing, such
				information shall not be confidential.
(c) The hearing officers findings of fact and
				conclusions of law and report and recommendation to the Commissioner shall not
				be confidential and shall be available for public inspection under the Wyoming
				Public Records Act.
(d) After the
				Commissioner has rendered his final decision after the hearing, any written
				report of such decision shall not be confidential and shall be available for
				public inspection under the Wyoming Public Records Act.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 5 - RULES OF PRACTICE BEFORE THE COMMISSIONER › Section 5-9 - Appointment of Hearing Officer

Current through July 13, 2024
(a) Promptly after
				an appeal is filed with the Commissioner, the Commissioner may appoint a
				hearing officer to preside at any proceeding before the Commissioner.
(b) The hearing officer shall have all powers
				necessary to conduct the hearing fairly and impartially, including the power
				to:
(i) Administer oaths and
				affirmations;
(ii) Issue
				subpoenas;
(iii) Rule upon offers
				of proof and receive relevant evidence;
(iv) Take depositions or cause depositions to
				be taken;
(v) Regulate the course
				of the hearing;
(vi) Hold
				conferences for the settlement or simplification of issues;
(vii) Dispose of procedural requests and
				similar matters;
(viii) Make
				proposed findings of fact, proposed conclusions of law and recommended
				decisions, but only as and when directed by the Commissioner; and
(ix) Take any other action authorized by the
				Wyoming Administrative Procedure Act or these Rules.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 5 - RULES OF PRACTICE BEFORE THE COMMISSIONER › Section 5-10 - Transcripts of Hearings

Current through July 13, 2024
(a) If a person
				desires a copy of those portions of the recording of a hearing that are
				available for public inspection, it shall request the same in writing. Such
				request shall be delivered to the Commissioner, along with a fee that the
				Commissioner shall determine on a case-by-case basis to recoup the total cost
				of services and materials necessary to make the copy, including any editing
				necessary to prevent the disclosure of protected material. Upon receipt of the
				request and the required fee, the Commissioner shall provide such copy to the
				requesting party as soon as practicable.
(b) If a party desires that a hearing be
				transcribed by court reporter, it must so inform the Commissioner and the
				hearing officer in writing and make the necessary arrangements and pay all
				associated costs related to the same. In each such case, the court reporter
				shall not record protected material nor any proceedings that the party
				providing the court reporter is not permitted to attend.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 5 - RULES OF PRACTICE BEFORE THE COMMISSIONER › Section 5-11 - Form and Content of Filings

Current through July 13, 2024
(a) All pleadings
				filed with the Commissioner shall be printed or typewritten.
(b) After a case has been assigned a docket
				number, all pleadings filed therein shall bear the title, "Before the
				Commissioner", and docket number of the case in which they are filed.
(c) Signing of pleadings. Every party who is
				not represented by an attorney shall sign his pleadings and state his address.
				Every pleading of a party represented by an attorney shall be signed by the
				attorney and shall show his address.
Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0006 - Residential Mortgage Practices › Chapter 5 - RULES OF PRACTICE BEFORE THE COMMISSIONER › Section 5-12 - Service of Process; Delivery of Other Materials; Use of Overnight Couriers

Current through July 13, 2024
(a) Whenever any document or other material
				that is required to be served on, filed with or otherwise delivered to the
				Commissioner or hearing officer, such service, filing or delivery shall be made
				in any manner permitted under the Wyoming Rules of Civil Procedure for service
				of process.
(b) Whenever any
				document or other material is required to be served on or otherwise delivered
				to a party in connection with proceedings before the Commissioner, such service
				or delivery shall be made upon:
(i) If such
				party is represented by counsel who has filed a notice of appearance in
				accordance with Section
				7, then
				upon such counsel; or
(ii) If such
				party is an entity or a group of individuals and is not represented by counsel,
				then upon the agent designated by such party for service of process;
				or
(iii) In all other
				circumstances, upon such party.