Wyoming 2026 Session Status: Enacted Bipartisan · 5 R · 2 D cosponsors

SF 54 — State banks and SPDI conversions.

Last action — Governor Signed SEA No. 0053

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 27, 2026. Enacted.

Signed by Governor Mark Gordon (Republican) on March 08, 2026.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 78% · moderate confidence

  • Enacted

    Current position in the legislative process.

  • 7 sponsors

    1 primary, 6 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (5 R · 2 D) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

This act creates a process for a special purpose depository institution to convert its charter from a special purpose depository institution to a state bank. This act creates a process for a state bank to convert its charter from a state bank to a special purpose depository institution.

Bill Text

What changed in the latest version

322 added · 316 removed

Plain-language change summary

The recent amendment to Bill SF 54 specifies the process for converting special purpose depository institutions into state banks in Wyoming, detailing the need for a comprehensive conversion plan. This change adds clarity and structure to the conversion process, which helps ensure that institutions follow a standardized procedure. These updates are important because they provide a clearer regulatory pathway, ultimately making it easier for financial organizations to operate under state banking laws.

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S TATE OF W YOMING 26LSO-0013 SENATE FILE NO.
ORIGINAL SENATE FILE NO.
SF0054 State banks and SPDI conversions.
SF0054 ENROLLED ACT NO.
Sponsored by:
53, SENATE SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING BUDGET SESSION AN ACT relating to banks, banking and finance;
Senator(s) Rothfuss, Crago, Nethercott and Olsen and Representative(s) Filer, Singh and Yin A BILL for AN ACT relating to banks, banking and finance;
8 Be It Enacted by the Legislature of the State of Wyoming:
Be It Enacted by the Legislature of the State of Wyoming:
1 SF0054 STATE OF WYOMING 26LSO-0013 (a) The commissioner, with approval of the board, may convert the charter of a special purpose depository institution chartered under W.S.
(a) The commissioner, with approval of the board, may convert the charter of a special purpose depository institution chartered under W.S.
7 (i) A special purpose depository institution seeking to convert its charter to a state bank shall file an application to convert that contains a comprehensive plan for conversion as required by this section and rules promulgated by the commissioner.
(i) A special purpose depository institution seeking to convert its charter to a state bank shall file an application to convert that contains a comprehensive plan for conversion as required by this section and rules promulgated by the commissioner.
13‑2-202 shall be approved by the shareholders of the special purpose depository institution prior to submitting an application for conversion;
13‑2-202 shall be approved by the shareholders of the special purpose depository ORIGINAL SENATE FILE NO.
(ii) The application to convert shall include a comprehensive plan for conversion setting forth any SF0054 STATE OF WYOMING 26LSO-0013 necessary disposition of assets and liabilities in reasonable detail to effect the conversion, and any other plans required by the commissioner.
SF0054 ENROLLED ACT NO.
53, SENATE SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING BUDGET SESSION institution prior to submitting an application for conversion;
(ii) The application to convert shall include a comprehensive plan for conversion setting forth any necessary disposition of assets and liabilities in reasonable detail to effect the conversion, and any other plans required by the commissioner.
The board, in its SF0054 STATE OF WYOMING 26LSO-0013 discretion, may allow the commissioner to proceed with approval of an application on an expedited basis without further oversight or approval by the board or, if deemed necessary by the board, the board may require a process consistent with W.S.
The board, in its discretion, may allow the commissioner to proceed with approval of an application on an expedited basis without further oversight or approval by the board or, if deemed necessary by the board, the board may require a process consistent with W.S.
Where an expedited review is allowed by the board, the commissioner shall approve or deny a conversion application under this section not more than ninety (90) days after receipt of a complete application.
Where an expedited review is allowed by the board, the commissioner shall approve or deny a conversion application ORIGINAL SENATE FILE NO.
SF0054 ENROLLED ACT NO.
53, SENATE SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING BUDGET SESSION under this section not more than ninety (90) days after receipt of a complete application.
4 SF0054 STATE OF WYOMING 26LSO-0013 (d) If the application is approved and a charter granted by the board or commissioner, the converting special purpose depository institution shall not commence business as a state bank before receiving a certificate of authority to operate as a state bank from the state banking commissioner.
(d) If the application is approved and a charter granted by the board or commissioner, the converting special purpose depository institution shall not commence business as a state bank before receiving a certificate of authority to operate as a state bank from the state banking commissioner.
The state banking commissioner shall approve or deny an application for a certificate of authority not more than thirty (30) days after a complete application has been filed.
The state banking commissioner shall approve or deny an application for a certificate of ORIGINAL SENATE FILE NO.
If the state banking commissioner approves the application, he shall issue a SF0054 STATE OF WYOMING 26LSO-0013 certificate of authority to the converted state bank not later than twenty (20) days after approval of the application.
SF0054 ENROLLED ACT NO.
53, SENATE SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING BUDGET SESSION authority not more than thirty (30) days after a complete application has been filed.
If the state banking commissioner approves the application, he shall issue a certificate of authority to the converted state bank not later than twenty (20) days after approval of the application.
6 SF0054 STATE OF WYOMING 26LSO-0013 (e) A state bank that results from a conversion under this section shall be deemed to have been in existence for the same period of time as the special purpose depository institution from which it converted and shall surrender its certificate of authority under W.S.
(e) A state bank that results from a conversion under this section shall be deemed to have been in existence for the same period of time as the special purpose depository institution from which it converted and shall surrender its certificate of authority under W.S.
(f) The commissioner shall adopt all rules necessary to implement this section.
ORIGINAL SENATE FILE NO.
SF0054 ENROLLED ACT NO.
53, SENATE SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING BUDGET SESSION (f) The commissioner shall adopt all rules necessary to implement this section.
(i) A state bank seeking to convert its charter to a special purpose depository institution shall file an SF0054 STATE OF WYOMING 26LSO-0013 application to convert that contains a comprehensive plan for conversion as required by this section and rules promulgated by the commissioner.
(i) A state bank seeking to convert its charter to a special purpose depository institution shall file an application to convert that contains a comprehensive plan for conversion as required by this section and rules promulgated by the commissioner.
Additionally, the application for conversion shall include other evidence, certifications, affidavits, documents or information as the commissioner SF0054 STATE OF WYOMING 26LSO-0013 may require, including demonstration of how assets and liabilities will be disposed, the timetable for effecting disposition or transfer of the assets and liabilities and a proposal for addressing any claims that are asserted after conversion has been completed;
Additionally, the application for ORIGINAL SENATE FILE NO.
7 (iii) The commissioner shall examine the application for compliance with this section, the requirements of W.S.
SF0054 ENROLLED ACT NO.
53, SENATE SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING BUDGET SESSION conversion shall include other evidence, certifications, affidavits, documents or information as the commissioner may require, including demonstration of how assets and liabilities will be disposed, the timetable for effecting disposition or transfer of the assets and liabilities and a proposal for addressing any claims that are asserted after conversion has been completed;
(iii) The commissioner shall examine the application for compliance with this section, the requirements of W.S.
SF0054 STATE OF WYOMING 26LSO-0013 2 (c) The application shall not be approved under this section until the board or commissioner, as applicable, has ascertained to the board's or commissioner's satisfaction that the proposed special purpose depository institution satisfies all criteria under W.S.
(c) The application shall not be approved under this section until the board or commissioner, as applicable, has ascertained to the board's or commissioner's satisfaction that the proposed special purpose depository institution satisfies all criteria under W.S.
(d) If the application is approved and a charter is granted by the board or commissioner, the converting state bank shall not commence business as a special purpose depository institution before receiving a certificate of authority to operate as a special purpose depository institution from the state banking commissioner.
ORIGINAL SENATE FILE NO.
Upon approval of an application, the converting state bank shall apply for a certificate of authority to the state banking commissioner and shall certify that the capital and surplus have been paid in, the address at which the converting state bank will operate as a special purpose depository institution and that all of the bylaws adopted have been SF0054 STATE OF WYOMING 26LSO-0013 attached as an exhibit to the application for a certificate of authority.
SF0054 ENROLLED ACT NO.
53, SENATE SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING BUDGET SESSION (d) If the application is approved and a charter is granted by the board or commissioner, the converting state bank shall not commence business as a special purpose depository institution before receiving a certificate of authority to operate as a special purpose depository institution from the state banking commissioner.
Upon approval of an application, the converting state bank shall apply for a certificate of authority to the state banking commissioner and shall certify that the capital and surplus have been paid in, the address at which the converting state bank will operate as a special purpose depository institution and that all of the bylaws adopted have been attached as an exhibit to the application for a certificate of authority.
If the converted special purpose depository institution fails to comply with requirements of the notice of denial within ninety (90) days from the receipt of the notice, the SF0054 STATE OF WYOMING 26LSO-0013 approval of the application and articles of incorporation previously issued to the converted special purpose depository institution shall be revoked by the state banking commissioner.
If the converted special purpose depository institution fails to comply with requirements of the notice of denial within ORIGINAL SENATE FILE NO.
SF0054 ENROLLED ACT NO.
53, SENATE SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING BUDGET SESSION ninety (90) days from the receipt of the notice, the approval of the application and articles of incorporation previously issued to the converted special purpose depository institution shall be revoked by the state banking commissioner.
12 SF0054 STATE OF WYOMING 26LSO-0013 (f) The commissioner shall adopt all rules necessary to implement this section.
(f) The commissioner shall adopt all rules necessary to implement this section.
4 Section 2.
Section 2.
6 13-12-102.
13-12-102.
Show all 53 changed rows (13 more)
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8 (b) The following provisions of this title shall not apply to this chapter:
(b) The following provisions of this title shall not apply to this chapter:
(iv) W.S.
ORIGINAL SENATE FILE NO.
SF0054 ENROLLED ACT NO.
53, SENATE SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING BUDGET SESSION (iv) W.S.
13 SF0054 STATE OF WYOMING 26LSO-0013 Section 4.
ORIGINAL SENATE FILE NO.
3 (a) Except as otherwise provided by subsection (b) of this section, this act is effective July 1, 2026.
SF0054 ENROLLED ACT NO.
6 (b) Sections 3 and 4 of this act are effective immediately upon completion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constitution.
53, SENATE SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING BUDGET SESSION Section 4.
(END) SF0054
(a) Except as otherwise provided by subsection (b) of this section, this act is effective July 1, 2026.
(b) Sections 3 and 4 of this act are effective immediately upon completion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constitution.
(END) Speaker of the House President of the Senate Governor TIME APPROVED:
_________ DATE APPROVED:
_________ I hereby certify that this act originated in the Senate.
Chief Clerk 10
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Action History

  1. Governor Signed SEA No. 0053

  2. Assigned Chapter Number 74

  3. H Speaker Signed SEA No. 0053

  4. H 3rd Reading:Passed 37-24-1-0-0

  5. Assigned Number SEA No. 0053

  6. S President Signed SEA No. 0053

  7. H COW:Passed

  8. H 2nd Reading:Passed

  9. H09 - Minerals:Recommend Do Pass 8-0-1-0-0

  10. H Placed on General File

  11. H Introduced and Referred to H09 - Minerals

  12. S 3rd Reading:Passed 27-4-0-0-0

  13. H Received for Introduction

  14. S COW:Passed

  15. S 2nd Reading:Passed

  16. S09 - Minerals:Recommend Do Pass 4-0-1-0-0

  17. S Placed on General File

  18. S Introduced and Referred to S09 - Minerals 26-4-1-0-0

  19. S Received for Introduction

  20. Bill Number Assigned

Sponsors

Sponsorship breakdown

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1 sponsors · 6 co-sponsors · 86 not signed on

Sponsors (1)

Co-sponsors (6)

Not signed on (86)

86 members have not signed on to this bill.

Show all 86 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance technology
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SF 54 do?
This act creates a process for a special purpose depository institution to convert its charter from a special purpose depository institution to a state bank. This act creates a process for a state bank to convert its charter from a state bank to a special purpose depository institution.
Who sponsors SF 54?
SF 54 is sponsored by Chris Rothfuss (Democrat), Jared Olsen (Republican), Tara Nethercott (Republican), Barry Crago (Republican), Mike Yin (Democrat), Daniel Singh (Republican), and Lee Filer (Republican).
What is the current status of SF 54?
This bill has been enacted into law. Introduced January 27, 2026. Enacted.
Where can I track SF 54?
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