13-9-313. Agency activities.
(a) Any Wyoming state bank may upon compliance with the requirements of this section, agree to receive deposits, renew time deposits, close loans, receive payments on loans and other obligations and perform other services as agent for any affiliated insured depository institution.
(b) A Wyoming state bank that proposes to enter into an agency agreement under this section shall file with the commissioner, at least thirty (30) days before the effective date of the agreement, a notice of intention to enter into an agency agreement with an affiliated insured depository institution.
(c) A Wyoming state bank may not under an agency agreement:
(i) Conduct any activity as an agent that it would be prohibited from conducting as a principal under applicable state or federal law; or
(ii) Have an agent conduct any activity that the bank as principal would be prohibited from conducting under applicable state or federal law.
(d) The commissioner may order a Wyoming state bank or any other insured depository institution subject to the commissioner's enforcement powers to cease acting as an agent or principal under any agency agreement with an affiliated insured depository institution that the commissioner finds to be inconsistent with safe and sound banking practices.
(e) Notwithstanding any other provision of law of this state, a Wyoming state bank acting as an agent for an affiliated insured depository institution in accordance with this section shall not be considered to be a branch of that institution. No provision of this section shall be construed as limiting the authority of any Wyoming state bank to act as agent on behalf of any other insured depository institution in the servicing of mortgage and other loans.
Structure Wyoming Statutes
Title 13 - Banks, Banking and Finance
Chapter 9 - Bank Related Organizations
Article 3 - Interstate Banking - Acquisitions of Banks by Bank Holding Companies
Section 13-9-306 - Scope; Legislative Intent.
Section 13-9-307 - Definitions.
Section 13-9-308 - Permitted Acquisitions.
Section 13-9-309 - Required Application; Fees.
Section 13-9-310 - Standards for Approval.
Section 13-9-311 - Procedures Relating to Applications.
Section 13-9-312 - Reports; Examinations.
Section 13-9-313 - Agency Activities.
Section 13-9-316 - Authority to Adopt Rules and Regulations; Cooperative Agreements; Fees.