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Read. Follow. Verify.Wyoming establishes legal framework for converting state banks and special purpose depository institutions
Last action · March 7, 2026: Assigned Chapter Number 74Sponsors: Chris Rothfuss and 6 others
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What This Bill Does
Wyoming law now allows s and state banks to convert their charters into one another, subject to commissioner and board approval. The state banking commissioner must adopt all implementing rules on or before July 1, 2026, with the primary provisions taking effect on that date.
Financial institutions operating in Wyoming gain a statutory mechanism to change their institutional charter type, altering their regulatory oversight requirements, deposit insurance obligations, and permissible business activities.
- Wyoming created special purpose depository institutions (SPDIs) through legislation to provide banking services for digital assets and other specialized clients under state charters. context
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Special purpose depository institutions
These institutions gain the legal authority to convert their charters into state banks and must follow new application and asset disposition procedures.
State banks
State banks gain the legal authority to convert their charters into special purpose depository institutions and must adhere to updated conversion rules.
State banking commissioner
The commissioner is tasked with examining applications, issuing certificates of authority, and adopting implementing rules by July 1, 2026.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
Can a special purpose depository institution become a regular state bank?
What happens if the state banking commissioner does not act on an application within thirty days?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Current status: Signed into law.
Procedural history
20 actions- Mar 7, 2026Governor Signed SEA No. 0053
- Mar 7, 2026Assigned Chapter Number 74
- Mar 5, 2026HouseH 3rd Reading:Passed 37-24-1-0-0
- Mar 5, 2026Assigned Number SEA No. 0053
- Mar 5, 2026SenateS President Signed SEA No. 0053
- Mar 5, 2026HouseH Speaker Signed SEA No. 0053
Show 14 earlier actions
- Mar 4, 2026HouseH 2nd Reading:Passed
- Mar 3, 2026HouseH COW:Passed
- Mar 2, 2026HouseH09 - Minerals:Recommend Do Pass 8-0-1-0-0
- Mar 2, 2026HouseH Placed on General File
- Feb 26, 2026HouseH Introduced and Referred to H09 - Minerals
- Feb 23, 2026SenateS 3rd Reading:Passed 27-4-0-0-0
- Feb 23, 2026HouseH Received for Introduction
- Feb 20, 2026SenateS 2nd Reading:Passed
- Feb 19, 2026SenateS COW:Passed
- Feb 18, 2026SenateS09 - Minerals:Recommend Do Pass 4-0-1-0-0
- Feb 18, 2026SenateS Placed on General File
- Feb 10, 2026SenateS Introduced and Referred to S09 - Minerals 26-4-1-0-0
- Jan 29, 2026SenateS Received for Introduction
- Jan 27, 2026Bill Number Assigned
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Connected Entities
Sources
www.wyoleg.gov
Analysis Score
0–100- Significance60How much this matters to a regular citizen
- Controversy15Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz25Current news / social attention level
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