13-12-109. Formation; articles of incorporation.
(a) Except as otherwise provided by subsection (e) of this section, five (5) or more adult persons may form a special purpose depository institution. The incorporators shall subscribe the articles of incorporation and transmit them to the commissioner as part of an application for a charter under W.S. 13-12-111.
(b) The articles of incorporation shall include the following information:
(i) The corporate name;
(ii) The object for which the corporation 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;
(vi) The name and residence of each shareholder subscribing to more than ten percent (10%) of the stock and the number of shares owned by that shareholder;
(vii) The number of directors and the names of those who shall manage the affairs of the corporation for the first year; and
(viii) A statement that the articles of incorporation are made to enable the incorporators to avail themselves of the advantages of the laws of the state.
(c) Copies of all amended articles of incorporation shall be filed in the same manner as the original articles of incorporation.
(d) The incorporators shall solicit capital prior to filing an application for a charter with the commissioner, consistent with W.S. 13-12-110. In the event an application for a charter is not filed or is denied by the board, all capital shall be promptly returned without loss.
(e) Subject to applicable federal and state law, a bank holding company may apply to hold a special purpose depository institution.
Structure Wyoming Statutes
Title 13 - Banks, Banking and Finance
Chapter 12 - Special Purpose Depository Institutions
Section 13-12-101 - Short Title.
Section 13-12-102 - Applicability of Other Provisions.
Section 13-12-104 - Requirements Relating to Depositors; Nature of Business.
Section 13-12-105 - Required Liquid Assets.
Section 13-12-106 - Required Contingency Account.
Section 13-12-107 - Applicable Federal and State Laws.
Section 13-12-108 - Required Disclosures.
Section 13-12-109 - Formation; Articles of Incorporation.
Section 13-12-110 - Required Initial Capital and Surplus; Additional Capital.
Section 13-12-111 - Application for Charter; Fee; Subaccount Created.
Section 13-12-112 - Procedure Upon Filing Application.
Section 13-12-113 - Procedure for Hearings on Charter Applications.
Section 13-12-114 - Investigation and Examination by Commissioner.
Section 13-12-117 - Decisions by Board Appealable; Grounds.
Section 13-12-119 - Reports and Examinations; Supervisory Fees; Required Private Insurance or Bond.
Section 13-12-120 - Suspension or Revocation of Charter.
Section 13-12-121 - Continuing Jurisdiction.
Section 13-12-124 - Failure to Submit Required Report; Fees; Rules.
Section 13-12-125 - Willful Failure to Perform Duties Imposed by Law; Removal.