Wyo. Code R. 021-0002-7
Banking Division
Chapter 7: Suspension or Revocation of Trust Company Charter
Effective Date: 04/18/2014 to Current
Rule Type: Current Rules & Regulations
Reference Number: 021.0002.7.04182014
(a) Pursuant to W.S. 13-5-111, the Commissioner may suspend or revoke the charter of a trust company.
(b) If the Commissioner determines that any ground for suspending or revoking a trust company’s charter set forth in W.S. 13-5-111 might exist, he shall inform the trust company of such determination in writing.
(c) Within five (5) days after the determination date, the Commissioner shall set the hearing date. Unless extended pursuant to subsection (d), the hearing date shall be a date within thirty (30) days after the determination date. The Commissioner shall give prompt notice to the trust company of the date, time and place of the hearing. The notice shall be in a form comparable to a hearing notice relating to a petition.
(d) Upon timely written request from the trust company and for good cause shown, the Commissioner may extend the hearing date to such later date as he may determine to be in the public interest.
(a) The Commissioner’s final determination relating to a suspension or revocation shall be in writing, shall be based solely on the record and shall include findings of fact and conclusions of law separately stated. Findings of fact shall be based exclusively on the evidence received at the hearing and matters officially noticed. Findings of fact, if set forth in statutory language, shall be accompanied by a concise and explicit statement of the underlying facts supporting the findings.
(b) In the event that the Commissioner determines to suspend the trust company’s charter, his final determination shall also set forth the duration of and/or the conditions that must be satisfied to lift such suspension. In his final determination, the Commissioner must find that one or more of the grounds for suspending or revoking the trust company’s charter set forth in W.S. 13-5-111 exist.
The Commissioner shall deliver a copy of his final determination to each party.