SF 55: Special purpose depository institution-amendments.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

This act amends the initial capital stock requirements for special purpose depository institutions (SPDIs) by requiring SPDIs to have capital stock and a paid-up surplus fund to commence business rather than to be chartered, changes the amount of estimated operating expenses required for SPDIs to commence business from three (3) years to one (1) year, and repeals the requirement for a SPDI to maintain a contingency account. This act amends the application for a SPDI to be chartered by requiring a comprehensive estimate of operating expenses for the first year of operation instead of three (3) years and requires a plan to raise capital instead of providing evidence of the required capital. This act authorizes the Wyoming Banking Commissioner (Commissioner) to establish requirements that must be met for an approved SPDI to commence business and provides that if a SPDI fails to commence business in compliance with these requirements within one (1) year after the issuance of a certificate of authority to operate, then the charter and certificate of authority shall expire. This act adds the decisions of the Wyoming State Banking Board or the Commissioner regarding the requirements for an approved SPDI to commence business and the issuance or denial of an extension to commence business as decisions that are appealable to the district court or the chancery court. This act creates a SPDI resolution fund account that requires a portion of each supervisory fee paid by SPDIs to be deposited into the account to be used by the Commissioner in the event of an involuntary dissolution of a SPDI.

Sponsors

Sponsors by party (alphabetical): Democratic 2 · Republican 5

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. March 8, 2026Assigned Chapter Number 75
2. March 8, 2026Governor Signed SEA No. 0054
3. March 6, 2026H Speaker Signed SEA No. 0054
4. March 5, 2026S President Signed SEA No. 0054
5. March 5, 2026Assigned Number SEA No. 0054
6. March 5, 2026H 3rd Reading:Passed 36-25-1-0-0
7. March 4, 2026H 2nd Reading:Passed
8. March 4, 2026H COW:Passed
9. March 2, 2026H Placed on General File
10. March 2, 2026H09 - Minerals:Recommend Do Pass 7-1-1-0-0
11. February 26, 2026H Introduced and Referred to H09 - Minerals
12. February 23, 2026H Received for Introduction

Showing 12 most recent of 20 actions. Full history