§ 13-5-501 — Formation and organizational instrument

Wyoming § 13-5-501

• Jurisdiction: Wyoming
• Title 13: Banks, Banking and Finance
• Ch. 5: TRUST COMPANIES
• Art. 5: PUBLIC TRUST COMPANIES

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(a) One (1) or more adult persons may organize a
corporation or limited liability company for the purpose of
forming a public trust company at a place in this state
designated in the organizational instrument subject to the
conditions prescribed by law. The organizer shall subscribe and
verify triplicate originals of the organizational instrument and
the application required under W.S. 13-5-502 and transmit them
to the commissioner together with any other documents or
information required by rule of the commissioner.
(b) The organizational instrument shall include the
following information:
(i) The legal name of the public trust company;
(ii) The object for which the public trust company is
organized;
(iii) The term of its existence which may be
perpetual;
(iv) The place where its office shall be located and
its operations conducted;
(v) The amount of capital stock and the number of
shares or the amount of membership interest;
(vi) The name and residence of each shareholder
subscribing to more than ten percent (10%) of the stock and the
number of his shares or the name and residence of each member
owning more than ten percent (10%) of the membership interest
and percentage of his membership interest;
(vii) The number of directors and the names of those
who shall manage the affairs of the corporation for the first
year or the number and names of managers appointed to manage the
affairs of the limited liability company for the first year; and
(viii) A statement that the organizational instrument
is made to enable the organizer to form a public trust company
within this state.
(c) The organizational instrument shall comply with W.S.
17-16-202 for corporations and W.S. 17-29-201 for limited
liability companies. The commissioner may establish by rule
other documents and materials a public trust company must file.
(d) Copies of all amended organizational instruments shall
be filed in the same manner as the original organizational
instrument.
(e) This section shall not apply to a foreign corporation
or foreign limited liability company that is qualified to do
business in this state and that applies for a charter under this
article.