SF 54 Wyoming House · 2026 Regular Session

State banks and SPDI conversions.

SF 54 establishes a formal process for special purpose depository institutions (SPDIs) to convert into state banks and for state banks to convert into SPDIs. It requires institutions seeking conversion to submit detailed plans for handling assets and liabilities, obtain shareholder approval, and meet capital requirements before applying to the banking commissioner. The commissioner must review applications within 90 days and issue a certificate of authority for operation within 30 days of approval, with strict deadlines for denials or corrections. This bill directly affects SPDIs and state banks wishing to change their charter status under Wyoming law.

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 · 5 edits · Mar 8, 2026

MODERATE

This bill converts a draft legislative text into an official enrolled act, finalizing the conversion of special purpose depository institutions into state banks. The primary substantive change is the addition of a strict 30-day timeline for the state banking commissioner to issue or deny a certificate of authority after approval, replacing the previous lack of specific deadlines. It also clarifies that the converted bank must apply for this certificate within 30 days of approval and outlines specific procedures for denial and revocation if requirements are not met.

Scope change

The scope of the bill remains focused on the conversion process between special purpose depository institutions and state banks, but the enforcement mechanisms regarding the final certificate of authority have been tightened with specific time limits.

TIMELINE

Added a mandatory 30-day deadline for the state banking commissioner to approve or deny an application for a certificate of authority after a conversion is approved.

Added a rule that the state banking commissioner's failure to act within 30 days is automatically deemed as approval of the application.

Added a provision stating that the charter and certificate expire if the bank fails to commence business within one year of receiving the certificate or federal approval.

REQUIREMENT

Added a requirement that the converted institution must apply for a certificate of authority within 30 days of the conversion approval.

ENFORCEMENT

Expanded the consequences for non-compliance to include automatic revocation of the charter and certificate of authority if the institution fails to correct issues within 90 days of a denial notice.

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

How they voted

27–4

Passed

Total votes 31

Feb 23, 2026

D Democratic2

2 Yea

100% Yea

R Republican29

25 Yea 4 Nay

86% 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. 0053

legislature

Mar 5, 2026

Lower · Passed

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

lower

Mar 4, 2026

Lower · Passed

H COW:Passed

lower

Mar 2, 2026

Lower · Passed

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

lower

Feb 26, 2026

Introduced

H Introduced and Referred to H09 - Minerals

lower

Feb 23, 2026

Upper · Passed

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

upper

Feb 20, 2026

Upper · Passed

S COW:Passed

upper

Feb 18, 2026

Upper · Passed

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

upper

Feb 10, 2026

Introduced

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

upper

1 primary · 6 co-sponsors