SF 55 Wyoming House · 2026 Regular Session

Special purpose depository institution-amendments.

This Wyoming bill (SF 55) amends regulations for Special Purpose Depository Institutions (SPDIs) - financial institutions that handle specific types of deposits, like those for government entities or nonprofits. It increases minimum capital requirements ($5 million), shortens the timeframe for SPDIs to begin operations from 6 months to 1 year, and creates a new "resolution fund" funded by supervisory fees to address failures. SPDIs must pay annual fees based on assets, with a portion deposited into this fund for resolution costs. The bill also revises application rules, appeal processes, and repeals outdated contingency account requirements for SPDIs.

Bill status signed all 5 stages cleared

Introduction

Feb 2026

Committee Review

Mar 2026

Senate Passage

Feb 2026

House Passage

Mar 2026

Signed into Law

Mar 2026

Introduced Feb 10, 2026 Signed Mar 8, 2026

Maddy AI version diff · 1 comparison

What changed between versions

Introduced → Enrolled · 6 edits · Mar 8, 2026

MODERATE

The bill transitions from a draft version to an enrolled act, finalizing the text for signing into law. Substantively, it establishes new requirements for Special Purpose Depository Institutions, including a minimum initial capital of $5 million, a surplus fund requirement, and a timeline to commence business within one year. It also creates a resolution fund account funded by supervisory fees and designates the Chancery Court as the venue for appeals regarding banking decisions.

Scope change

The bill applies to Special Purpose Depository Institutions chartered under the State of Wyoming banking laws.

REQUIREMENT

Establishes a minimum initial capital stock requirement of $5,000,000 for new institutions.

Requires institutions to maintain a surplus fund of at least 20% of authorized capital and one year of estimated operating expenses before commencing business.

Requires institutions to pay annual supervisory fees to the newly created resolution fund account.

TIMELINE

Sets a one-year deadline for approved institutions to commence business after receiving a certificate of authority.

FISCAL

Creates a new 'Special Purpose Depository Institution Resolution Fund Account' to be funded by a portion of supervisory fees.

ENFORCEMENT

Designates the Chancery Court as the specific court for hearing appeals of banking commissioner decisions.

Floor votes · Senate Feb 23, 2026 · House Mar 5, 2026

How they voted

26–5

Passed

Total votes 31

Feb 23, 2026

D Democratic2

2 Yea

100% Yea

R Republican29

24 Yea 5 Nay

82% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 8, 2026

Signed into law

Governor Signed SEA No. 0054

legislature

Mar 5, 2026

Lower · Passed

H 3rd Reading:Passed 36-25-1-0-0

lower

Mar 4, 2026

Lower · Passed

H COW:Passed

lower

Mar 2, 2026

Lower · Passed

H09 - Minerals:Recommend Do Pass 7-1-1-0-0

lower

Feb 26, 2026

Introduced

H Introduced and Referred to H09 - Minerals

lower

Feb 23, 2026

Upper · Passed

S 3rd Reading:Passed 26-5-0-0-0

upper

Feb 20, 2026

Upper · Passed

S COW:Passed

upper

Feb 18, 2026

Upper · Passed

S09 - Minerals:Recommend Do Pass 5-0-0-0-0

upper

Feb 10, 2026

Introduced

S Introduced and Referred to S09 - Minerals 22-8-1-0-0

upper

1 primary · 6 co-sponsors