(a) To be accepted for filing, an application
shall be provided to the Commissioner in physical and electronic form and shall
be comprised of the following information:
(i) The signatures of all incorporators,
verifying the contents of the application;
(ii) Three (3) signed, original copies of the
articles of incorporation of the institution satisfying the requirements of
W.S.
13-12-109(b), plus any
filing fee required by the Secretary of State;
(iii) The final bylaws or draft bylaws
proposed for adoption either by the incorporators simultaneously with
incorporation or by the board of directors of the proposed special purpose
depository institution at its first meeting, indicating which method will be
used to adopt the bylaws;
(iv)
Letters of commitment or other evidence satisfactory to the Commissioner that
capital equal to or greater than that required under § 2 of this Chapter
is available to the special purpose depository institution upon
chartering;
(v) Evidence
satisfactory to the Commissioner that the proposed special purpose depository
institution will be able to obtain private insurance as specified by W.S.
W.S.
13-12-119(e) upon
chartering, including coverage types, coverage limits and any conditions
relating to payment of claims;
(vi)
The name, proposed title, physical address and biographical sketch of each
individual proposed to serve as an executive officer or director of the
institution during the first year of operations, demonstrating sufficient
experience, ability and standing to afford reasonable promise of successful
operation;
(vii) A detailed
business plan, which shall include:
(A) All
proposed activities of the special purpose depository institution, including
identification of likely customers, a marketing plan, and business projections
based on statistical data or other accepted business methods;
(B) A business risk assessment, consistent
with subparagraphs (a) and (c) of this paragraph;
(C) A comprehensive estimate of operating
expenses for the first three (3) years of operation, consistent with
subparagraph (A) of this paragraph;
(D) A complete proposal for compliance with
this Chapter,
W.S.
13-12-101 through
13-12-126
and all other applicable state and federal laws. Identification of other
applicable state and federal laws is the responsibility of the incorporators;
and
(E) Other information material
to the investigation and report of the Commissioner and the decision of the
Board, as determined by the incorporators.
(viii) Evidence satisfactory to the
Commissioner regarding the availability of a surety bond under W.S.
W.S.
13-12-118(a), or a statement
that the special purpose depository institution will irrevocably pledge assets
or capital to the Commissioner, as specified by
W.S.
13-12-118(b);
(ix) If applicable, the designation of an
agent for service of process which is described in Chapter 5, § 7 of the
Rules of the Division;
(x)
Information relating to corporate partnerships or affiliations, including a
description of mutual corporate interests and activities and the most recent
audited financial statement of any business entity which has a twenty-five
percent (25%) or greater ownership stake in the proposed institution;
(xi) Information relating to all prospective
investors in the proposed institution who are not United States citizens,
including the name of the natural person making an investment, date of birth,
nationality and the mailing and physical address of the primary residence of
the natural person;
(xii)
Information relating to government agencies or self-regulatory organizations
which the proposed special purpose depository institution may be subject to,
whether state, federal or foreign, including activities which the agency or
organization regulates or supervises, license numbers, license expiration dates
and agency contact persons; and
(xiii) Any other information required by law
or requested by the Commissioner or Board which is material to the charter
application or the operation of a special purpose depository
institution.
(b) The
incorporators shall provide truthful and complete information in a charter
application, all accompanying materials and in communications relating to an
application. The incorporators shall supplement the application or
communication promptly when information in the application or communication
changes materially or if an omission is discovered.
(c) If an application is withdrawn at any
time before a hearing of the Board, the filing fee shall be refunded to the
applicant, reduced by the amount of all expenses authorized by W.S.
W.S.
13-2-208.
(d) If a charter application is rejected by
the Board, it shall be treated as if it were withdrawn at 5:00 p.m. Mountain
Time on the last day of the thirty (30) day time period described in Chapter 5,
§ 3(e), Rules of the Division.
(e) An applicant may describe proposed
activities or other portions of an application in contemplation of proposed
legislative amendments to the laws governing special purpose depository
institutions, if the proposed legislative amendments have been adopted by a
legislative committee or task force as of the date of the application. If
applicable, the incorporators shall attach a copy of the proposed amendments to
the application and identify portions of the application which are based on the
proposed amendments. The proposed activities or other portions of the
application which require legislative amendments shall not be conducted by the
special purpose depository institution until the amendments become
effective.
