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Section 13-5-601 - Powers of Family Trust Companies; Prohibitions.

WY Stat § 13-5-601 (2019) (N/A)
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13-5-601. Powers of family trust companies; prohibitions.

(a) A family trust company may, but only for family members:

(i) Act or be appointed by any court within and outside this state to act as a fiduciary for family members for any purpose permitted by law;

(ii) Act as transfer agent or registrar of corporate stocks and bonds of family affiliates;

(iii) Purchase, invest in and sell stocks, bonds, mutual funds, mortgages and other securities for the account of family members;

(iv) Accept and execute any trust company business of family members permitted by any law of this or any other state or of the United States to be taken, accepted or executed by an individual;

(v) Take oaths and execute affidavits by the oath or affidavit of its corporate officers or managing members;

(vi) Make any lawful fiduciary investment as permitted by Wyoming Uniform Prudent Investor Act;

(vii) Perform all acts necessary to exercise the powers enumerated in this section.

(b) A family trust company shall not engage in:

(i) Any banking business by accepting general deposits or issuing demand instruments; or

(ii) Trust company business with the public.

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Section 13-5-602 - Family Trust Companies; Authorized Actions and Transactions; Conflicts of Interest.