Bank and Trust Company Charter Applications
Applications for bank and trust company charters are
provided for in Chapter III, Application Procedure for Financial Institution
Charters, of the Rules and Regulations of the State Banking Board. After the
commissioner determines an application submitted for a bank charter is
complete, he conducts an investigation and examination of the application. His
findings are presented at a public hearing, which is held on behalf of the
A public hearing is provided for in Chapter IV, Hearings for
Charter Applications, of the Rules and Regulations of the State Banking Board.
All hearings are conducted pursuant to the Wyoming Administrative Procedure
Act, Wyoming Statute 16-3-101 through 16-3-115. The Board, within 90 days after
receipt of the transcript of the public hearing, approves, conditionally
approves or disapproves applications for state bank charters. Before approving
an application, the Board must ascertain that the following conditions are met:
· Public need and convenience will be promoted by the
establishment of the proposed financial institution;
· Conditions in the community in which the proposed
financial institution would transact business afford reasonable promise of
· Financial institution is being formed for no other
purpose than the legitimate objects contemplated by the laws of the state;
· Proposed capital and surplus are not less than the
required minimum and are adequate in light of current and prospective
· Proposed officers and directors have sufficient
experience, ability and standing to afford reasonable promise of successful
· Name of the proposed financial institution does not
resemble so closely as to cause confusion the name of any other financial
institution transacting business in the county;
· Applicants have complied with all applicable
provisions of law.
Charter Application Timeline
received in office of State Banking Commissioner.
30 days of receipt of application, the commissioner will notify the
applicant in writing of any deficiencies or that the application has been
accepted for filing.
the application is deemed complete and is accepted for filing by the
commissioner, he will notify the chairman of the State Banking Board
(board) who then establishes the time and place for the public hearing
(not less than 60 days nor more than 120 days from the date the
application is accepted for filing).
30 days after receipt of the notice of the time and place of the hearing,
the applicant shall publish notice of the application and public hearing in
a newspaper of general circulation within the county where the proposed
financial institution is to be located. Publication shall be made once a
week for 3 consecutive weeks prior to the hearing. The applicant shall
furnish proof of publication to the commissioner prior to the hearing.
public hearing is held.
90 days after receipt of the transcripts of the public hearing, the board
issues its approval, conditional approval or disapproval of the
the board approves the application, the commissioner shall file the
articles of incorporation within 20 days of the board’s decision.
the board conditionally approves the application, the commissioner will
file the articles of incorporation within 20 days of the applicant’s
compliance with the board’s instructions.
the board disapproves the application, the commissioner shall mail notice
of the disapproval to the applicants within 20 days after the board’s
Certificate of Authority
approval of the charter application and granting of the charter by the
board, the applicant shall apply to the commissioner for a certificate of
authority prior to commencing business.
commissioner shall approve or deny the application for a certificate of
authority within 30 days of receipt of the application.
the application is approved, the commissioner shall issue a certificate
of authority within 20 days of his decision.
the application is denied, the commissioner shall mail a notice of denial
within 20 days of his decision.
the application is denied, the organizers have 90 days to resubmit the
application for a certificate of authority with the necessary
May 24, 2012