summary
Introduced
02/10/2026
02/10/2026
In Committee
02/18/2026
02/18/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Budget Session
Bill Summary
AN ACT relating to banks, banking and finance; providing for the conversion of special purpose depository institutions into state banks; providing for the conversion of state banks into special purpose depository institutions; requiring rulemaking; and providing for effective dates.
AI Summary
This bill allows for the conversion of a special purpose depository institution (SPDI), which is a type of financial institution with a specific charter, into a state bank, and vice versa, under the oversight of the state banking commissioner and the banking board. The process requires a comprehensive application detailing how assets and liabilities will be handled, shareholder approval, and adherence to all relevant banking laws and capital requirements. The bill also clarifies that certain existing state banking laws will apply to SPDIs, except where specifically modified by this new provision for conversions, and mandates that the banking commissioner create necessary rules by July 1, 2026, with the main provisions of the act taking effect on that date.
Committee Categories
Business and Industry
Sponsors (7)
Chris Rothfuss (D)*,
Barry Crago (R),
Lee Filer (R),
Tara Nethercott (R),
Jared Olsen (R),
Daniel Singh (R),
Mike Yin (D),
Last Action
2nd Reading:Passed (on 02/20/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.wyoleg.gov/Legislation/2026/SF0054 |
| BillText | https://www.wyoleg.gov/2026/Introduced/SF0054.pdf |
| Fiscal Note | https://www.wyoleg.gov/2026/Fiscal/SF0054.pdf |
Loading...