§ 13-5-603 — Organization of a chartered family trust company

Wyoming § 13-5-603

• Jurisdiction: Wyoming
• Title 13: Banks, Banking and Finance
• Ch. 5: TRUST COMPANIES
• Art. 6: FAMILY TRUST COMPANIES

Text

(a) One (1) or more persons may subscribe to an
organizational instrument in writing for the purpose of forming
a chartered family trust company, subject to the conditions
prescribed by law.
(b) The articles of incorporation for a chartered family
trust company organized as a corporation shall set forth all of
the information required by W.S. 17-16-202 and the following:
(i) The corporate name, which shall comply with W.S.
13-5-302 and 17-16-401;
(ii) A statement that the articles of incorporation
are made to enable the shareholders to avail themselves of the
advantages of this chapter;
(iii) A statement that the corporation will act as a
fiduciary exclusively for one (1) or more family members and
will not engage in trust company business with the general
public.
(c) The articles of organization for a chartered family
trust company organized as a limited liability company shall
include the following information:
(i) The name of the limited liability company, which
must comply with W.S. 13-5-302 and 17-29-108;
(ii) A statement that the articles of organization
are made to enable the members to avail themselves of the
advantage of this chapter;
(iii) A statement that the limited liability company
will act as a fiduciary exclusively for one (1) or more family
members and will not engage in trust company business with the
general public.
(d) Repealed by Laws 2019, Ch. 13, § 5.
(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.