021-5 Wyo. Code R. § 5-3

Current through April 27, 2019
Section 5-3 - Application Required; Filing; Incomplete Application; Extension

(a) To organize a financial institution, the incorporators shall submit to the Commissioner an application. Each application shall be in writing and contain the information required in Section 4. In the case of a trust company, the application shall name and be executed by at least one (1) incorporator; in all other cases, the application shall name and be executed by at least five (5) incorporators.

(b) The applicant shall submit its application with the Commissioner for evaluation. The Commissioner shall keep and maintain the application as provided in Section 8.

(c) Within thirty (30) days after the date on which an application is submitted to the Commissioner for evaluation, he shall give written notice to the applicant either:

  • (i) that the application is in order and has been accepted for filing or
  • (ii) that deficiencies exist in the information required to be included in the application and identifying each with reasonable particularity.

(d) If the Commissioner notifies the applicant of deficiencies in the application, the applicant shall correct the identified deficiencies and resubmit the application within ninety (90) days after the date of the notice of the deficiencies. If the applicant fails to submit a corrected application within such 90-day period, the applicant shall be deemed for all purposes to have withdrawn the application as of 5:00 p.m., Cheyenne, Wyoming local time, on the last day of such 90-day period.

(e) Within thirty (30) days after the date on which a corrected application is submitted to the Commissioner for further evaluation, he shall give written notice to the applicant either:

  • (i) that the application is in order and has been accepted for filing or
  • (ii) that the application is rejected as incomplete.

021-5 Wyo. Code R. § 5-3