The bill amends several sections of Wyoming law to update the definition of "financial institution" and repeals certain provisions related to disclosures on checks and other instruments. Specifically, it replaces the previous definition of "financial institution" with a broader one that includes any bank, savings and loan association, trust company, or credit union operating in Wyoming, regardless of whether they are chartered under state or federal laws. Additionally, the new definition encompasses Wyoming branches of out-of-state banks resulting from interstate mergers, as well as broker-dealers and investment advisers.

Furthermore, the bill repeals W.S. 13-1-401 and 13-1-402, which likely contained outdated or redundant definitions and provisions. The effective date for these changes is set for July 1, 2024. Overall, the bill aims to modernize the legal framework governing financial institutions in Wyoming by clarifying definitions and removing obsolete regulations.

Statutes affected:
Introduced: 1-15-102, 13-1-701, 40-14-505, 13-1-401, 13-1-402