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Section 13-5-506 - Investigation and Examination by Banking Commissioner.

WY Stat § 13-5-506 (2019) (N/A)
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13-5-506. Investigation and examination by banking commissioner.

(a) Upon receiving the organizational instrument, application and other information required to be submitted under W.S. 13-5-501 and 13-5-502, the commissioner shall make a careful investigation and examination of the following:

(i) The character, reputation, financial standing and ability of the organizers and those proposed as directors, managers, members, stockholders or owners of the public trust company;

(ii) The character, financial responsibility, trust administration or other financial experience and business qualifications of those proposed as officers or managers; and

(iii) Such other facts and circumstances bearing on the proposed public trust company as the commissioner may deem relevant.

(b) The commissioner or his designee shall submit his findings at the public meeting or hearing on the application and shall be subject to cross-examination or questioning by any interested party. No relevant information shall be excluded by the board as hearsay.

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Section 13-5-507 - Approval or Disapproval of Application; Criteria for Approval; Action Upon Application; Interim Charter; Fee.