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Wyoming Statutes Title 13. Banks, Banking and Finance § 13-5-603. Organization of a chartered family trust company

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) One (1) or more persons may subscribe to an organizational instrument in writing for the purpose of forming a chartered family trust company, subject to the conditions prescribed by law.

(b) The articles of incorporation for a chartered family trust company organized as a corporation shall set forth all of the information required by W.S. 17-16-202 and the following:

(i) The corporate name, which shall comply with W.S. 13-5-302 and 17-16-401;

(ii) A statement that the articles of incorporation are made to enable the shareholders to avail themselves of the advantages of this chapter;

(iii) A statement that the corporation will act as a fiduciary exclusively for one (1) or more family members and will not engage in trust company business with the general public.

(c) The articles of organization for a chartered family trust company organized as a limited liability company shall include the following information:

(i) The name of the limited liability company, which must comply with W.S. 13-5-302 and 17-29-108;

(ii) A statement that the articles of organization are made to enable the members to avail themselves of the advantage of this chapter;

(iii) A statement that the limited liability company will act as a fiduciary exclusively for one (1) or more family members and will not engage in trust company business with the general public.

(d) Repealed by Laws 2019, ch. 13, § 5, eff. July 1, 2019.

(e) This section shall not apply to a foreign corporation or foreign limited liability company that is qualified to do business in this state and that applies for a charter under this article.

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Cite this article: FindLaw.com - Wyoming Statutes Title 13. Banks, Banking and Finance § 13-5-603. Organization of a chartered family trust company - last updated January 01, 2024 | https://codes.findlaw.com/wy/title-13-banks-banking-and-finance/wy-st-sect-13-5-603/

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