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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) Upon receiving the articles of incorporation, application and other information required, the state banking commissioner shall make a careful investigation and examination of the following:
(i) The character, reputation, financial standing and ability of the organizers;
(ii) The character, financial responsibility, banking or savings and loan or other financial experience and business qualifications of those proposed as officers;
(iii) The character and standing in the community and state of those proposed as directors, stockholders or owners;
(iv) The need in the community where the institution would be located giving particular consideration to the adequacy of existing financial facilities and the effect that the proposed institution would have upon existing financial institutions in the community;
(v) The ability of the community to support the proposed institution, including existing competition, the economic history of the community and the opportunity for profitable employment of financial institution funds; and
(vi) Such other facts and circumstances bearing on the proposed financial institution as the banking commissioner may deem relevant.
(b) The state banking commissioner shall submit his findings verbally and in writing at the public hearing on the application and shall be subject to cross-examination by any interested party. No relevant information shall be excluded by the board as hearsay.
Cite this article: FindLaw.com - Wyoming Statutes Title 13. Banks, Banking and Finance § 13-2-211. Investigation and examination by banking commissioner - last updated January 01, 2024 | https://codes.findlaw.com/wy/title-13-banks-banking-and-finance/wy-st-sect-13-2-211/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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