§ 13-2-702 — Authorization; application; fee; activities; examination; criteria

Wyoming § 13-2-702

• Jurisdiction: Wyoming
• Title 13: Banks, Banking and Finance
• Ch. 2: ORGANIZATION OF BANKS
• Art. 7: STATEWIDE BRANCH BANKING

Text

(a) With prior approval of the state banking commissioner
a bank may establish and operate one (1) or more branches at any
location in this state or in a state other than Wyoming.
(i) Repealed By Laws 1999, ch. 41, § 2.
(ii) Repealed By Laws 1999, ch. 41, § 2.
(b) All applications for establishing and operating a
branch shall be filed with the commissioner and be accompanied
by a filing fee established by rule and regulation of the
commissioner. The application shall be signed by the chief
executive officer of the applicant bank and contain and be
accompanied by the following information:
(i) Name and address of the applicant bank;
(ii) Exact location of the proposed branch;
(iii) Certification of publication of notice of the
application at least once in a newspaper of general circulation
in the county in which the proposed branch will be located;
(iv) Repealed By Laws 1999, ch. 41, § 2.
(v) Certification that the applicant bank is well
capitalized, as defined by rule of the commissioner;
(vi) Certification of compliance with the provisions
of W.S. 13-3-201 relating to investment limitations in bank
premises;
(vii) Certification that the establishment of the
branch does not involve a prohibited insider transaction or
management interlock;
(viii) Discussion of any planned variances in the
applicant bank's lending policy, procedures or services at the
proposed branch;
(ix) Other information as the commissioner may
require in order to determine if the requirements of this
section are met.
(c) The commissioner shall issue a certificate of
authority for the branch to the applicant bank within twenty
(20) days after receipt of the complete application and fee
unless he finds:
(i) Establishment or operation of the proposed branch
would pose undue risk to the capital or surplus requirements of
the applicant bank;
(ii) The name of the proposed branch does not
reasonably identify the branch as a branch of the applicant bank
or is likely to unduly confuse the public; or
(iii) Repealed by Laws 1995, ch. 62, § 2.
(iv) The applicant bank has failed to substantially
comply with applicable law governing its operation.
(d) The certificate of authority expires one (1) year
after its issuance unless the branch has opened and business has
begun in good faith.
(e) The application fee provided by subsection (b) of this
section 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 only to carry out the
duties of the commissioner or the state banking board. If the
application expenses are less than the amount of the fee, the
unexpended amount shall remain within the account.
(f) Repealed By Laws 1999, ch. 42, § 3.
(g) Every branch bank in this state shall be licensed by
the commissioner before operating, engaging in or conducting a
banking business.
(h) The commissioner shall fix the amount of the initial
license fee and annual renewal fee by rule and regulation.
(j) An application for an initial branch license shall be
submitted to the commissioner in writing in the form and
containing the information required by the commissioner. Each
licensed branch of a bank chartered under the laws of this state
or of any other state is subject to compliance examinations as
the commissioner deems necessary.
(k) The activities and operations of a branch are
attributable to the applicant bank for purposes of determining
qualification for authority to do business in this state.
(m) An out-of-state bank which has established a Wyoming
branch may establish and operate one (1) or more branches at any
location in this state, subject to the requirements of
subsections (g) through (k) of this section.