ORIGINAL HOUSE
BILL NO. 0262
ENROLLED ACT NO.
99, HOUSE OF REPRESENTATIVES
FIFTY-SIXTH
LEGISLATURE OF THE STATE OF WYOMING
2001
GENERAL SESSION
AN ACT relating to financial
institutions; providing that
certain funds are
to be deposited into the financial
institutions
administration account within the earmarked
revenue fund as
specified; providing for administering the
Uniform Consumer
Credit Code; modifying certain fees;
providing for the
deposit of fees under the consumer rental
purchase
agreement act; and providing for an effective
date.
Be It Enacted
by the Legislature of the State of Wyoming:
Section 1. W.S. 13-11-101
is created to read:
CHAPTER
11
DEPOSIT
OF FUNDS
13-11-101. Deposit of funds.
All fees, costs, compensation and expenses of
any type
provided for under this title, or any rule promulgated
under authority granted under this title, required to be
paid to the state banking commissioner and not otherwise
designated for deposit shall be deposited by the state
banking commissioner with the state treasurer and credited
to the financial institutions administration account within
the earmarked revenue fund.
Section 2. W.S. 13-2-208,
13-2-210(b), 13-2-212(c),
13-2-702(e), 13-4-101(a), 13-4-104(b), 13-4-306(b),
13-4-702, 13-8-103(a), 13-8-105(a), 13-8-107,
13-9-309(a)(i), 40-14-632(b) and (c) and 40-19-114(c) are
amended to read:
13-2-208. Application filing fee.
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The
application filed with the state banking commissioner
shall be accompanied
by a fee of fifteen thousand dollars
($15,000.00) to cover
the expense of the investigation by
the state banking
commissioner, the expense of the public
hearing and other
related expenses. The fee shall be
deposited by the state
banking commissioner with the state
treasurer into an the financial
institutions administration
account within the
earmarked revenue fund. Expenditures
shall be made from the
account by warrants drawn by the
state auditor, upon
vouchers issued and signed by the
director or
commissioner. Funds from the account shall be
expended only to carry
out the duties of the commissioner
and the state banking
board under this article and for
chartering trust
companies under chapter 5 of this title.
If an application for
a financial institution charter is
withdrawn by the
applicant at any time prior to the hearing
on the application,
the statutory application filing fee,
less the amount of any
expense authorized above and
actually incurred,
shall be refunded to the applicant. If
the application
expenses are less than fifteen thousand
dollars ($15,000.00)
the unexpended amount shall revert to
the general fund
revenue fund.
13-2-210. Emergency charters; fees.
(b) Except as otherwise provided by this subsection,
thousand dollars
($4,000.00). The fee shall be deposited by
the state banking
commissioner with the state treasurer and
credited to the
financial institutions administration
account within the
earmarked revenue fund. Expenditures
shall be made from the
account by warrants drawn by the
state auditor, upon
vouchers issued and signed by the
director or
commissioner. Funds from the account shall be
expended to carry out
the duties of the commissioner or the
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state
banking board. For an applicant with a total asset
base exceeding three
hundred million dollars
($300,000,000.00), if
the expenses of the application
process exceed four
thousand dollars ($4,000.00) the
applicant shall
reimburse the commissioner the excess
amount. If the
application expenses are less than four
thousand dollars
($4,000.00) the unexpended amount shall
revert to the general
fund.
13-2-212. Approval or disapproval of
application;
criteria for
approval; action upon application; interim
bank charter;
fee.
(c) The board
may waive the public hearing required
under W.S. 13-2-207 if
the application is for an interim
bank charter to be
used as a vehicle for merger with an
existing bank which is
currently serving the public need
and convenience of the
community, operating profitably,
adequately
capitalized, has officers and directors of
proven ability and is
to be chartered solely for the
purpose of
facilitating the merger and the change in
ownership of the
existing bank in accordance with W.S.
13-4-108. Except as otherwise provided by this subsection,
public hearing is
waived is four thousand dollars
($4,000.00). The fee
shall be deposited by the state
banking commissioner
with the state treasurer and credited
to the financial
institutions administration account within
the earmarked revenue
fund. Expenditures shall be made from
the account by
warrants drawn by the state auditor, upon
vouchers issued and
signed by the director or commissioner.
Funds from the account
shall be expended only to carry out
the duties of the
commissioner or the state banking board.
For an applicant with
a total asset base exceeding three
hundred million
dollars ($300,000,000.00), if the expenses
of the application
process exceed four thousand dollars
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($4,000.00) the applicant shall reimburse the commissioner
the excess amount. If
the application expenses are less
than four thousand
dollars ($4,000.00) the unexpended
amount shall revert to
the general fund.
13-2-702. Authorization; application;
fee;
activities;
examination; criteria.
(e) The
application fee provided by subsection (b) of
this section shall be
deposited by the state banking
commissioner with the
state treasurer and credited to the
financial institutions
administration account within the
earmarked revenue
fund. Expenditures shall be made from the
account by warrants
drawn by the state auditor, upon
vouchers issued and
signed by the director or commissioner.
Funds from the account
shall be expended only to carry out
the duties of the
commissioner or the state banking board.
If the application
expenses are less than the amount of the
fee, the unexpended
amount shall revert to the general fund
13-4-101. Change in place of business.
(a) Any bank
may apply in writing to the state
banking commissioner
for permission to change its place of
business to any other
municipality in the state. Except as
otherwise provided in
this subsection,
shall be accompanied
by a fee of two thousand five hundred
dollars ($2,500.00)
and shall state the reasons for the
proposed change, be
signed by a majority of its board of
directors and
accompanied by the written assent to the
application by the
stockholders owning at least two-thirds
(2/3) of its stock.
The application fee shall be deposited
by the state banking
commissioner with the state treasurer
and credited to the
financial institutions administration
account within the
earmarked revenue fund. Expenditures
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shall be
made from the account by warrants drawn by the
state auditor, upon
vouchers issued and signed by the
director or
commissioner. Funds from the account shall be
expended only to carry
out the duties of the commissioner
or the state banking
board. For an applicant with a total
asset base exceeding
three hundred million dollars
($300,000,000.00), if
the expenses of the application
process exceed the
amount of the fee, the applicant shall
reimburse the
commissioner the excess amount. If the
application expenses
are less than the amount of the fee,
the unexpended amount
shall revert to the general fund.
13-4-104. Merger or conversion into
state bank;
branch banking
by merger or consolidation; application
fees.
(b) Any state or
national bank that consolidates or
merges in accordance
with subsection (a) of this section
may upon the
completion of the consolidation or merger
retain, operate and
maintain the banking houses or offices
of the merged or
consolidated entities and provide other
services or functions
as would be permitted had the
consolidation or
merger not occurred. When a merger or
consolidation
application from a state bank results in
maintaining the merged
banking house or office as a branch,
the application for
merger shall be accompanied by an
application fee of two
thousand five hundred dollars
($2,500.00)., except as otherwise
provided in this
subsection.
same bank, the
application fee shall be increased by one
thousand two hundred
fifty dollars ($1,250.00)., except as
otherwise provided in
this subsection.
deposited by the state
banking commissioner with the state
treasurer and credited
to the financial institutions
administration account
within the earmarked revenue fund.
Expenditures shall be
made from the account by warrants
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drawn by
the state auditor, upon vouchers issued and signed
by the director or
commissioner. Funds from the account
shall be expended only
to carry out the duties of the
commissioner or the
state banking board. For an applicant
with a total asset
base exceeding three hundred million
dollars
($300,000,000.00), if the expenses of the
application process
exceed the amount of the fee, the
applicant shall
reimburse the commissioner the excess
amount. If the
application expenses are less than the
amount of the fee, the
unexpended amount shall revert to
the general fund.
13-4-306. When bank permitted to
continue business.
(b) The bank when
permitted to continue business
shall pay all expenses
of the state banking commissioner in
taking charge of the
bank and looking after its affairs
while under his
control including a per diem of ten dollars
($10.00). to be deposited in
the state general fund.
13-4-702. Assets discovered after
liquidation.
If assets
are discovered after the liquidation proceeding
has closed and in the
opinion of the state banking
commissioner the cost
of distributing the assets would
prevent the payment of
a dividend exceeding one-half of one
percent (0.5%), the
assets shall be converted into money
and paid into the general fund of the state of Wyoming to
the commissioner.
13-8-103. Certificate of admission.
(a) An
association shall not conduct any business in
the state except upon
written statement by the state
banking commissioner,
which shall be filed and preserved in
his office, to the
effect that the association is solvent
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and
conducting its affairs compatible with prudent business
principles. When a
statement is made, the state banking
board may issue a
certificate of admission to the
association upon the
payment to the state banking
commissioner of fifty
dollars ($50.00)., which shall be
credited to the
general fund.
13-8-105. Statement to be renewed
annually or as
required.
(a) The
statements required of foreign associations
shall be renewed
annually by March 1 as of the preceding
December 31 and shall
be made at other times as the state
banking commissioner
may require. Foreign associations
shall pay to the state
banking commissioner upon filing
each annual statement
a fee of ten dollars ($10.00)., to be
placed in the general
fund.
13-8-107. Licensing of agents,
solicitors and
salesmen.
Each agent,
solicitor or salesman, before transacting or
soliciting any
business in this state for any association,
shall procure annually
from the state banking commissioner
a license as agent,
solicitor or salesman for which a fee
of two dollars ($2.00)
for each license shall be collected
and credited to the general fund paid to the commissioner.
A license expires on
June 30 of each year and is subject to
revocation by the
state banking commissioner for improper
business or conduct.
13-9-309. Required application; fees.
(a) A company
that proposes to make an acquisition
under this article
shall:
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(i) Pay to the
commissioner an application fee
of four thousand five
hundred dollars ($4,500.00);. An
applicant with a total
asset base exceeding three hundred
million dollars
($300,000,000.00), shall also reimburse the
commissioner for the
excess expenses if the expenses of the
application process
exceed four thousand five hundred
dollars ($4,500.00);
40-14-632. Fees.
(b) Persons
required to file notification who are
sellers, lessors or
lenders shall pay an additional fee at
the time and in the
manner stated in subsection (a) of this
section of twenty-five
dollars ($25.00) for each one
hundred thousand
dollars ($100,000.00), or part thereof, in
excess of one hundred
thousand dollars ($100,000.00), of
the original unpaid
balances arising from consumer credit
sales, consumer leases
and consumer loans made in this
state within the
preceding calendar year and held either by
the seller, lessor or
lender for more than thirty (30) days
after the inception of
the sale, lease or loan giving rise
to the obligations, or
by an assignee who has not filed
notification. A
refinancing of a sale, lease or loan
resulting in an
increase in the amount of an obligation is
considered a new sale,
lease or loan to the extent of the
amount of the
increase. The administrator may by rule
increase this fee to
an amount not greater than thirty-five
dollars ($35.00) per
one hundred thousand dollars
($100,000.00), or part
thereof, in excess of one hundred
thousand dollars
($100,000.00) of the original unpaid
balances if he
determines that an increase is necessary to
equal
the general fund appropriation for the cover the cost
of administration of this act.
(c) Persons
required to file notification who are
assignees shall pay an
additional fee at the time and in
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the manner
stated in subsection (a) of this section of
twenty-five dollars
($25.00) for each one hundred thousand
dollars ($100,000.00),
or part thereof, of the unpaid
balances at the time
of the assignment of obligations
arising from consumer
credit sales, consumer leases and
consumer loans made in
this state taken by assignment
during the preceding
calendar year, but an assignee need
not pay a fee with
respect to an obligation on which the
assignor or other
person has already paid a fee. The
administrator may by
rule increase this fee to an amount
not greater than
thirty-five dollars ($35.00) per one
hundred thousand
dollars ($100,000.00), or part thereof, in
excess of one hundred
thousand dollars ($100,000.00) if he
determines that an
increase is necessary to equal the
general fund
appropriation for the
administration of this
act.
40-19-114. License required;
application for license;
fee;
qualifications.
(c) The
application for one (1) or more licenses
shall be accompanied
by a processing fee not to exceed five
hundred dollars
($500.00) set by rule of the administrator.
The fee
shall be deposited by the administrator with the
state treasurer and
credited to the financial institutions
administration account
within the earmarked revenue fund.
Funds from the account
shall be expended to carry out the
duties of the
administrator. If the expenses of the
investigation and
evaluation exceed the amount of the fee,
the applicant shall
reimburse the administrator the excess
amount. If the
expenses of the investigation and evaluation
are less than the
amount of the fee, the unexpended amount
shall be deposited in the general fund remain within the
account within the
earmarked revenue fund. If an
application is
withdrawn by the applicant at any time prior
to the completion of
the investigation and evaluation, the
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unexpended
amount shall be deposited in the general fund
fund.
Section
3. W.S. 13-7-603(c) is repealed.
Section
4. This act is effective
July 1, 2001.
(END)
Speaker of
the House President of
the Senate
Governor
TIME APPROVED: _________
DATE APPROVED: _________
I hereby certify that this
act originated in the House.
Chief Clerk
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