§ 13-5-701 — Establishment of a private family trust company

(a) One (1) or more persons may subscribe to an
organizational instrument in writing for the purpose of forming
a private family trust company, subject to the provisions of
this chapter.
(b) The articles of incorporation for a private family
trust company organized as a corporation shall include 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 corporation to act as a fiduciary for the
family members; and
(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 private family
trust company organized as a limited liability company shall
include all of the information required by W.S. 17-29-201 and
the following:
(i) The name of the limited liability company, which
shall comply with W.S. 13-5-302 and 17-29-108;
(ii) A statement that the articles of organization
are made to enable the corporation to act as a fiduciary for the
family members; and
(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) Upon the approval of the organizational instrument of
a private family trust company by the secretary of state, the
directors or managers of the private family trust company shall
execute and deliver a signed waiver to the commissioner
acknowledging that the private family trust company is not
supervised by the commissioner and that at all times the private
family trust company will not transact trust company business
with the general public.