13-12-114. Investigation and examination by commissioner.
(a) Upon receiving the articles of incorporation, the application for a charter and other information required by the commissioner, the commissioner shall make a careful investigation and examination of the following:
(i) The character, reputation, financial standing and ability of the incorporators;
(ii) The character, financial responsibility, banking or other financial experience and business qualifications of those proposed as officers and directors; and
(iii) The application for a charter, including the adequacy and plausibility of the business plan of the special purpose depository institution and whether the institution has offered a complete proposal for compliance with the provisions of this chapter.
(b) The commissioner shall submit the results of his investigation and examination at the public hearing on the charter application and shall be subject to cross examination by any interested party. No relevant information shall be excluded by the board as hearsay.
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.