Wyoming § 13-2-213 Certificate of authority to commence business
required; application; approval or denial; failure to commence
business

Wyoming Statutes

§ 13-2-213 — Certificate of authority to commence business required; application; approval or denial; failure to commence business

Wyoming·Title 13 Banks, Banking and Finance·Ch. 2 ORGANIZATION OF BANKS·Art. 2 CHARTERING

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 o

Free access — add to your briefcase to read the full text and ask questions with AI

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.

Wyoming § 13-2-213 (Certificate of authority to commence business required; application; approval or denial; failure to commence business) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.