Wyoming Administrative Code › Agency 021 - Audit, Dept. of › Sub-Agency 0002 - Banking Division › Chapter 5 - CHARTER APPLICATIONS › Section 5-6 - Articles of Incorporation

Current through July 13, 2024
(a) The articles of
				incorporation for a proposed institution shall include the following
				information:
(i) The name of the proposed
				institution;
(ii) The objects for
				which the corporation is organized, together with a statement that the
				corporation is organized for no other purpose than the accomplishment of
				legitimate and lawful objects;
(iii) A statement that the articles of
				incorporation are made to enable incorporators: the
(A) In the case of a bank, to avail
				themselves of the advantages of the banking laws and regulations of the State
				of Wyoming;
(B) In the case of an
				interim bank, to avail themselves of the advantages of the banking laws and
				regulations of the State of Wyoming but only to the extent necessary to serve
				as a vehicle to facilitate a merger and change of ownership of an existing bank
				in accordance with
				W.S.
				13-4-108;
(C) In the case of a savings and loan
				association, to avail themselves of the advantages of the savings and loan laws
				and regulations of the State of Wyoming;
(D) In the case of trust companies, to avail
				themselves of the advantages of the trust company laws and regulations of the
				State of Wyoming and the general corporation laws of the State of Wyoming; or
(E) In the case of a bank or a
				savings and loan association that also desires to engage in the trust business
				in this state, to avail themselves of the advantages of the trust company laws
				and regulations of the State of Wyoming;
(iv) The object for which the corporation is
				organized;
(v) In the case of an
				interim bank, a statement that it
(A) shall
				not operate independently,
(B)
				shall not conduct banking business, and
(C) shall exist only so long as is necessary
				to serve as a vehicle to facilitate a merger and change of ownership of an
				existing bank in accordance with
				W.S.
				13-4-108;
(vi) In the case of a trust company, such
				other matters as may be required under the Wyoming Business Corporation Act;
(vii) The term of its existence,
				which may be perpetual, except that, in the case of an interim bank, its term
				of existence shall not be longer than is necessary to serve as a vehicle to
				facilitate a merger and change of ownership of an existing bank in accordance
				with
				W.S.
				13-4-108;
(viii) The street address at which its
				principal place of business will be located;
(ix) The amount and par value of each class
				of its common capital stock and the number of shares in each class authorized
				to be issued (in the case of a savings and loan association, common stock must
				have a par value of at least $100 per share and be issued as a single
				class);
(x) Except for a savings
				and loan association, the amount and par value of each class of preferred
				capital stock and the number of shares in each class authorized to be issued,
				specifying all rights, powers and incidents of each class of such
				stock;
(xi) The amount of capital
				actually paid in;
(xii) The name,
				residence post-office address and occupation of each shareholder subscribing
				for more than ten percent (10%) of the capital stock of the corporation and the
				number and class of shares subscribed for;
(xiii) The number of directors (which shall
				be five (5) or more, in the case of a bank, an interim bank or a savings and
				loan association, or any number, in the case of a trust company);
(xiv) The names, residence post-office
				address and occupation of each member of the board of directors that is
				expected to serve during any part of the corporation's first year of
				existence;
(xv) The name,
				occupation and residence post-office address of each incorporator; and
(xvi) The number of shares of
				capital stock, by class, for which each incorporator has subscribed.