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If the enforcing authority issues an order with respect to a discriminatory housing practice that occurs in the course of a business subject to a licensing or regulation by a governmental agency, the enforcing authority, not later than the thirtieth day after the date the order is issued, shall send copies of the findings and the order to the governmental agency and recommend to the governmental agency appropriate disciplinary action.
Propose a changeIf the enforcing authority issues an order against a respondent against whom another order was issued within the preceding five (5) years under W.S. 40-26-133, the enforcing authority shall send a copy of each order to the attorney general.
Propose a changeIf a timely election is made under W.S. 40-26-130, the attorney general may file not later than the thirtieth day after the date of the election a claim for relief in a district court. Venue for an action is in the county in which the alleged discriminatory housing practice occurred or is about to occur. An aggrieved person may intervene in the action. If the court finds that a discriminatory housing practice has occurred or is about to occur, the court may grant as relief any relief that a court may grant in a civil action under W.S. 40-26-129 through 40-26-143. If monetary relief is sought for the benefit of an aggrieved person who does not intervene in the civil action, the court may not award the monetary relief if that aggrieved person has not complied with discovery orders entered by the court.
Propose a change(a) The attorney general may file a claim for relief in district court for appropriate relief if the enforcing authority has reasonable cause to believe that a person is engaged in a pattern or practice of resistance to the full enjoyment of a right granted under this chapter or a person has been denied a right granted by this chapter and that denial raises an issue of general public importance. (b) In an action under this section, the court may: (i) Award preventive relief, including a permanent or temporary injunction, restraining order, or other order against the person responsible for a violation of this chapter as necessary to assure the full enjoyment of the rights granted by this chapter; (ii) Award other appropriate relief, including monetary damages, reasonable attorney's fees, and court costs; and (iii) To vindicate the public interest, assess a civil penalty against the respondent in an amount that does not exceed fifty thousand dollars ($50,000.00) for a first violation and one hundred thousand dollars ($100,000.00) for a second or subsequent violation. (c) A person may intervene in an action under this section if the person is a person aggrieved by the discriminatory housing practice or a party to a conciliation agreement concerning the discriminatory housing practice.
Propose a changeThe enforcing authority or another party at whose request a subpoena is issued under this chapter, may enforce the subpoena in appropriate proceedings in district court.
Propose a change(a) An aggrieved person may file a civil action in district court not later than the second year after the date of the occurrence or the termination of an alleged discriminatory housing practice or the breach of a conciliation agreement entered under this chapter, whichever occurs last, to obtain appropriate relief with respect to the discriminatory housing practice or breach. (b) The two (2) year period does not include any time during which an administrative hearing under this chapter is pending with respect to a complaint or charge under this chapter based on the discriminatory housing practice. This subsection does not apply to actions arising from the breach of a conciliation agreement. (c) An aggrieved person may file a claim for relief whether a complaint has been filed under W.S. 40-26-118 and without regard to the status of any complaint filed under that section. (d) If the enforcing authority has obtained a conciliation agreement with the consent of an aggrieved person, the aggrieved person may not file a claim for relief with respect to the alleged discriminatory housing practice that forms the basis of the complaint except to enforce the terms of the agreement. (e) An aggrieved person may not file a claim for relief with respect to an alleged discriminatory housing practice that forms the basis of a charge issued by the enforcing authority if the enforcing authority has begun a hearing on the record under this chapter with respect to the charge.
Propose a changeIf the court finds that a discriminatory housing practice has occurred or is about to occur, the court may award to the plaintiff actual and punitive damages, reasonable attorney's fees, court costs, and subject to W.S. 40-26-142, a permanent or temporary injunction, temporary restraining order, or other order, including an order enjoining the defendant from engaging in the practice or ordering appropriate affirmative action.
Propose a changeRelief granted under W.S. 40-26-139 through 40-26-143 does not affect a contract, sale, encumbrance or lease that is consummated before the granting of the relief and involves a bona fide purchaser, encumbrancer or tenant who did not have actual notice of the filing of a complaint or civil action under this chapter.
Propose a changeThe attorney general may intervene in an action under W.S. 40-26-139 through 40-26-143 if the attorney general certifies that the case is of general public importance. The attorney general may obtain the same relief as is available to the attorney general under W.S. 40-26-137(b).
Propose a changeA court in an action brought under this chapter or the enforcing authority in an administrative hearing under W.S. 40-26-131 may award reasonable attorney's fees to the prevailing party and assess court costs against the nonprevailing party.
Propose a change(a) A person commits an offense if the person, without regard to whether the person is acting under color of law, by force or threat of force, intentionally intimidates or interferes with an individual: (i) Because of the individual's race, color, religion, sex, disability, age, familial status, national origin or status with respect to marriage or public assistance and because the individual is or has been selling, purchasing, renting, financing, occupying or contracting or negotiating for the sale, purchase, rental, financing or occupation of any dwelling or applying for or participating in a service, organization or facility relating to the business of selling or renting dwellings; or (ii) Because the individual is or has been or to intimidate the individual from: (A) Participating, without discrimination because of race, color, religion, sex, disability, familial status or national origin in an activity, service, organization or facility described by paragraph (i) of this subsection; (B) Affording another individual opportunity or protection to so participate; or (C) Lawfully aiding or encouraging other individuals to participate, without discrimination because of race, color, religion, sex, disability, familial status or national origin, or status with respect to marriage or public assistance, in an activity, service, organization, or facility described in paragraph (i) of this subsection. (b) It is a discriminatory practice to coerce, intimidate, threaten or interfere with any individual in the exercise or enjoyment of, or on account of the individual having exercised or enjoyed, or on account of the individual having aided or encouraged any other individual in the exercise or enjoyment of, any right granted or protected by this chapter. (c) An offense under subsection (a) or (b) of this section is a misdemeanor.
Propose a changeA complaint filed with the enforcing authority under W.S. 40-26-118 is an open record. Information obtained during an investigation conducted by the enforcing authority under this chapter can be used in any judicial proceedings or administrative hearing relating to the complaint under this chapter or before the administrative closure of a complaint by the enforcing authority. The enforcing authority may disclose to the complainant or the respondent, or representatives of the complainant or respondent, information obtained during an investigation if deemed necessary by the enforcing authority for securing an appropriate resolution of a complaint. The enforcing authority may disclose information obtained during an investigation to a federal agency if necessary for the processing of complaints under an agreement with the agency. Individually identifiable health information obtained during an investigation may not be disclosed by the enforcing authority except to a federal agency if necessary for the processing of complaints under an agreement with the agency. Statements made or actions taken during conciliation efforts relating to a complaint under this chapter may not be disclosed by the enforcing authority, except to a federal agency if necessary for the processing of complaints under an agreement with the agency, and may not be used as evidence in a subsequent proceeding under this chapter without the written consent of the parties to the conciliation. A conciliation agreement is an open record unless the complainant and respondent agree that it is not and the enforcing authority determines that disclosure is not necessary to further the purposes of this chapter.
Propose a change(a) A person commits a civil trespass to unlawfully collect resource data from private land if he: (i) Enters onto private land for the purpose of collecting resource data; and (ii) Does not have: (A) An ownership interest in the real property or statutory, contractual or other legal authorization to enter the private land to collect the specified resource data; or (B) Written or verbal permission of the owner, lessee or agent of the owner to enter the private land to collect the specified resource data. (b) A person commits a civil trespass of unlawfully collecting resource data if he enters onto private land and collects resource data from private land without: (i) An ownership interest in the real property or, statutory, contractual or other legal authorization to enter the private land to collect the specified resource data; or (ii) Written or verbal permission of the owner, lessee or agent of the owner to enter the private land to collect the specified resource data. (c) Repealed by Laws 2023, ch. 52, § 2. (d) A person who trespasses to unlawfully collect resource data or a person who unlawfully collects resource data under this section shall be liable in a civil action by the owner or lessee of the land for all consequential and economic damages proximately caused by the trespass. In a civil action brought under this section, in addition to damages, a successful claimant shall be awarded litigation costs. For purposes of this subsection, "litigation costs" shall include, but are not limited to, court costs, expert witness fees, other witness fees, costs associated with depositions and discovery, reasonable attorney fees and the reasonably necessary costs of identifying the trespasser, of obtaining effective service of process on the trespasser and of successfully effecting the collection of any judgment against the trespasser. (e) Repealed by Laws 2016, ch. 115, § 2. (f) Resource data unlawfully collected on private land under this section is not admissible in evidence in any civil, criminal or administrative proceeding, other than a civil action for trespassing under this section or a criminal prosecution for trespassing under W.S. 6-3-414. (g) Resource data unlawfully collected on private land under this section in the possession of any governmental entity as defined by W.S. 1-39-103(a)(i) shall be expunged by the entity from all files and data bases, and it shall not be considered in determining any agency action. (h) As used in this section: (i) "Collect" means to take a sample of material, acquire, gather, photograph or otherwise preserve information in any form and the recording of a legal description or geographical coordinates of the location of the collection; (ii) "Peace officer" means as defined by W.S. 7-2-101; (iii) "Resource data" means data relating to land or land use, including but not limited to data regarding agriculture, minerals, geology, history, cultural artifacts, archeology, air, water, soil, conservation, habitat, vegetation or animal species. "Resource data" does not include data: (A) For surveying to determine property boundaries or the location of survey monuments; (B) Used by a state or local governmental entity to assess property values; (C) Collected or intended to be collected by a peace officer while engaged in the lawful performance of his official duties.
Propose a change(a) This act may be cited as the "Medical Digital Innovation Sandbox Act". (b) As used in this act: (i) "Department" means the department of health; (ii) "Sandbox" means a time limited test environment or program in which innovative technologies, products or services may be developed or explored and made available to consumers prior to general authorized use or deployment; (iii) "Sandbox period" means the period of time, initially not longer than twenty-four (24) months, in which the department or the appropriate licensing board or authority has authorized an innovative medical digital assessment product or service to be made available to consumers. The sandbox period shall also encompass any extension granted under W.S. 40-28-107; (iv) "This act" means W.S. 40-28-101 through 40-28-108.
Propose a changeapplicability of criminal statutes; referrals; civil liability. (a) Notwithstanding any other provision of law, a person who makes an innovative medical digital assessment product or service available to consumers in the medical digital innovation sandbox may be granted a waiver from specified requirements imposed by statute or rule, or portions thereof, if these statutes or rules do not currently permit the product or service to be made available to consumers. A waiver under this subsection shall be no broader than necessary to accomplish the purposes and standards set forth in this act, as determined by the department or the appropriate licensing board or authority under the chapters listed in this subsection. The statutes within the following chapters of title 33 of the Wyoming statutes, and the rules adopted under them, or portions thereof, may be waived by the department and the appropriate licensing boards or authorities, upon receipt and approval of an application made to the department pursuant to W.S. 40-28-103: (i) Chapter 1, licensing generally; (ii) Chapter 9, podiatrists; (iii) Chapter 10, chiropractors; (iv) Chapter 15, dentists and dental hygienists; (v) Chapter 21, nurses; (vi) Chapter 23, optometrists; (vii) Chapter 25, physical therapists; (viii) Chapter 26, physicians and surgeons; (ix) Chapter 27, psychologists; (x) Chapter 32, eye care practitioners; (xi) Chapter 33, speech language pathologists and audiologists; (xii) Chapter 34, clinical laboratories and blood banks; (xiii) Chapter 35, hearing aid specialists; (xiv) Chapter 36, emergency medical services; (xv) Chapter 37, radiologic technologists; (xvi) Chapter 40, occupational therapy; (xvii) Chapter 43, respiratory care practitioners; (xviii) Chapter 46, midwives; (xix) Chapter 47, dietetics. (b) A person who makes an innovative medical digital assessment product or service available to consumers in the medical digital innovation sandbox is: (i) Not immune from civil damages for acts and omissions relating to this act; and (ii) Subject to all criminal laws. (c) The department may refer suspected violations of law relating to this act to appropriate state or federal agencies for investigation, prosecution, civil penalties and other appropriate enforcement actions.
Propose a change(a) A person shall apply to the department to make an innovative medical digital assessment product or service available to consumers in the medical digital innovation sandbox, based on the licensing board or authority that administers the statute or rule, or portion thereof, for which a waiver is sought. If an application is filed with a licensing board or authority that does not administer the statute or rule for which a waiver is sought, the receiving board or authority shall forward the application to the correct board or authority. The person shall specify in an application the statutory or rule requirements for which a waiver is sought and the reasons why these requirements prohibit the innovative medical digital assessment product or service from being made available to consumers. The application shall also contain the elements required for authorization which are set forth in subsection (f) of this section. The department shall, by rule, prescribe a method of application. (b) A business entity making an application under this section shall be a domestic corporation or other organized domestic entity with a physical presence, other than that of a registered office or agent, in Wyoming. (c) Before an employee applies on behalf of an institution, firm or other entity intending to make an innovative medical digital assessment product or service available through the medical digital innovation sandbox, the employee shall obtain the consent of the institution, firm or entity before filing an application under this section. (d) The individual filing an application under this section and the individuals who are substantially involved in the development, operation or management of the innovative medical digital assessment product or service shall, if requested by the department as a condition of the application, submit to a criminal history background check pursuant to W.S. 7-19-201. (e) An application made under this section shall be accompanied by a fee of five hundred dollars ($500.00). The fee shall be deposited into the medical digital innovation account as provided in W.S. 40-28-104. (f) The department shall authorize or deny a medical digital innovation sandbox application in writing within ninety (90) days of receiving the application. The department and the person who has made an application may jointly agree to extend the time beyond ninety (90) days. The department may impose conditions on any authorization, consistent with this act. In deciding to authorize or deny an application under this subsection, the department shall consider each of the following: (i) The nature of the innovative medical digital assessment product or service proposed to be made available to consumers in the sandbox, including all relevant technical details; (ii) The potential risk to consumers and methods which will be used to protect consumers and resolve complaints during the sandbox period; (iii) A prototyping, use case or scaling plan proposed by the person, including a statement of arranged capital; (iv) Whether the person has the necessary personnel, adequate medical digital and technical expertise and a sufficient plan to test, monitor and assess the innovative medical digital assessment product or service; (v) Whether any person substantially involved in the development, operation or management of the innovative medical digital assessment product or service has: (A) Been convicted of or is currently under investigation for federal or state crimes; (B) Had any professional license revoked or suspended. (g) If an application is authorized under subsection (f) of this section, the department shall specify the statutory or rule requirements, or portions thereof, for which a waiver is granted and the length of the initial sandbox period. The department shall also post notice of the approval of a sandbox application under this subsection, a summary of the innovative medical digital assessment product or service and the contact information of the person making the product or service available through the sandbox on the internet website of the department. (h) A person authorized under subsection (f) of this section to enter into the medical digital innovation sandbox shall post a consumer protection bond with the department as security for potential losses suffered by consumers who use an innovative medical digital assessment product or service offered by the person. The bond amount shall be determined by the department in an amount not less than ten thousand dollars ($10,000.00) and shall be commensurate with the risk profile of the innovative medical digital assessment product or service. The department may require that a bond under this subsection be increased or decreased at any time based on risk profile. Unless a bond is enforced under W.S. 40-28-108(b)(ii), the department shall cancel or allow the bond to expire two (2) years after the date of the conclusion of the sandbox period. (j) Authorization under subsection (f) of this section shall not be construed to create a property right.
Propose a change(a) There is created the medical digital innovation account. Funds within the account shall only be expended by legislative appropriation. All funds within the account shall be invested by the state treasurer and all investment earnings from the account shall be credited to the general fund. (b) Subject to legislative appropriation, application fees remitted to the account pursuant to W.S. 40-28-103(e), and any additional funds appropriated by the legislature, shall be used by the department only for the purposes of administering this act, including processing of sandbox applications and monitoring, examination and enforcement activities relating to this act.
Propose a change(a) Except as otherwise provided by W.S. 40-28-107, a person authorized under W.S. 40-28-103(f) to enter into the medical digital innovation sandbox may make an innovative medical digital assessment product or service available to consumers during the sandbox period. (b) Before a consumer purchases or enters into an agreement to receive an innovative medical digital assessment product or service through the medical digital innovation sandbox, the person making the product or service available shall provide a written statement of the following to the consumer: (i) The name and contact information of the person making the product or service available to consumers; (ii) That the product or service has been authorized to be made available to consumers for a temporary period by the department and the appropriate licensing board or authority, as applicable, under the laws of Wyoming; (iii) That the state of Wyoming does not endorse the product or service and is not subject to liability for losses or damages caused by the product or service; (iv) That the product or service is undergoing testing, may not function as intended and may entail medical assessment risk; (v) That the person making the product or service available to consumers is not immune from civil liability for any losses or damages caused by the product or service; (vi) The expected end date of the sandbox period; (vii) The name and contact information of the department and board or authority, as applicable, and notification that suspected legal violations, complaints or other comments related to the product or service may be submitted to the department; (viii) Any other statements or disclosures required by rule of the department which are necessary to further the purposes of this act. (c) A person authorized to make an innovative medical digital assessment product or service available to consumers in the medical digital innovation sandbox shall maintain comprehensive records relating to the innovative medical digital assessment product or service. The person shall keep these records for not less than five (5) years after the conclusion of the sandbox period. The department may specify further records requirements under this subsection by rule. (d) The department or licensing board or authority, as applicable, may examine the records maintained under subsection (c) of this section at any time, with or without notice. All direct and indirect costs of an examination conducted under this subsection shall be paid by the person making the innovative medical digital assessment product or service available in the medical digital innovation sandbox. Records made available under this subsection shall be confidential and shall not be subject to disclosure under the Wyoming Public Records Act but may be released to appropriate state and federal agencies for the purposes of investigation. (e) Unless granted an extension pursuant to W.S. 40-28-107, not less than thirty (30) days before the conclusion of the sandbox period, a person who makes an innovative medical digital assessment product or service available in the medical digital innovation sandbox shall provide written notification to consumers regarding the conclusion of the sandbox period and shall not make the product or service available to any new consumers after the conclusion of the sandbox period until legal authority outside of the sandbox exists to make the product or service available to consumers. The person shall wind down operations with existing consumers within sixty (60) days after the conclusion of the sandbox period, except that, after the sixtieth day, the person may: (i) Collect and receive money owed to the person, based on agreements with consumers made before the conclusion of the sandbox period; (ii) Take necessary legal action; and (iii) Take other actions authorized by the department by rule which are not inconsistent with this subsection. (f) The department may enter into agreements with state, federal or foreign regulatory agencies to allow persons who make an innovative medical digital assessment product or service available in Wyoming through the medical digital innovation sandbox to make their products or services available in other jurisdictions and to allow persons operating in similar medical digital innovation sandboxes in other jurisdictions to make innovative medical digital assessment products and services available in Wyoming under the standards of this act.
Propose a change(a) The department may, by order, revoke or suspend authorization granted to a person under W.S. 40-28-103(f) if: (i) The person has violated or refused to comply with this act or any lawful rule, order or decision adopted by the department; (ii) A fact or condition exists that, if it had existed or become known at the time of the medical digital innovation sandbox application, would have warranted denial of the application or the imposition of material conditions; (iii) A material error, false statement, misrepresentation or material omission was made in the medical digital innovation sandbox application; or (iv) After consultation with the person, continued testing of the innovative medical digital assessment product or service would: (A) Be likely to harm consumers; or (B) No longer serve the purposes of this act because of the medical digital or operational failure of the product or service. (b) Written notification of a revocation or suspension order made under subsection (a) of this section shall be served using any means authorized by law, and if the notice relates to a suspension, include any conditions or remedial action which shall be completed before the suspension will be lifted by the department.
Propose a change(a) A person granted authorization under W.S. 40-28-103(f) may apply for an extension of the initial sandbox period for not more than twelve (12) additional months. An application for an extension shall be made not later than sixty (60) days before the conclusion of the initial sandbox period specified by the department. The department shall approve or deny the application for extension in writing not later than thirty-five (35) days before the conclusion of the initial sandbox period. An application for extension by a person shall cite one (1) of the following reasons as the basis for the application and provide all relevant supporting information that: (i) Statutory or rule amendments are necessary to conduct business in Wyoming on a permanent basis; (ii) An application for a license or other authorization required to conduct business in Wyoming on a permanent basis has been filed with the appropriate office and approval is currently pending.
Propose a changerestitution; applicability of Wyoming Administrative Procedure Act. (a) The department shall adopt rules to implement this act. (b) The department may issue: (i) All necessary orders to enforce this act, including ordering the payment of restitution, and enforce these orders in any court of competent jurisdiction; (ii) An order under paragraph (i) of this subsection to enforce the bond posted under W.S. 40-28-103(h), or a portion of this bond, and use proceeds from the bond to offset losses suffered by consumers as a result of an innovative medical digital assessment product or service. (c) All actions of the department under this act shall be subject to the Wyoming Administrative Procedure Act.
Propose a changeThis act may be cited as the "Financial Technology Sandbox Act."
Propose a change(a) As used in this act: (i) "Blockchain" means a digital ledger or database which is chronological, consensus-based, decentralized and mathematically verified in nature; (ii) "Commissioner" means the state banking commissioner; (iii) "Consumer" means a person, whether a natural person or a legal entity, in Wyoming who purchases or enters into an agreement to receive an innovative financial product or service made available through the financial technology sandbox; (iv) "Financial product or service" means a product or service related to finance, including banking, securities, consumer credit or money transmission, which is subject to statutory or rule requirements identified in W.S. 40-29-103(a) and is under the jurisdiction of the commissioner or secretary; (v) "Financial technology sandbox" means the program created by this act which allows a person to make an innovative financial product or service available to consumers during a sandbox period through a waiver of existing statutory and rule requirements, or portions thereof, by the commissioner or secretary; (vi) "Innovative" means new or emerging technology, or new uses of existing technology, that provides a product, service, business model or delivery mechanism to the public and has no substantially comparable, widely available analogue in Wyoming, including blockchain technology; (vii) "Sandbox period" means the period of time, initially not longer than twenty-four (24) months, in which the commissioner or secretary has authorized an innovative financial product or service to be made available to consumers, which shall also encompass any extension granted under W.S. 40-29-108; (viii) "Secretary" means the secretary of state; (ix) "This act" means W.S. 40-29-101 through 40-29-109.
Propose a changeapplicability of criminal and consumer protection statutes; referral to investigatory agencies; civil liability. (a) Notwithstanding any other provision of law, a person who makes an innovative financial product or service available to consumers in the financial technology sandbox may be granted a waiver of specified requirements imposed by statute or rule, or portions thereof, if these statutes or rules do not currently permit the product or service to be made available to consumers. A waiver under this subsection shall be no broader than necessary to accomplish the purposes and standards set forth in this act, as determined by the commissioner or secretary. The following statutes, and the rules adopted under them, or portions of these statutes and rules, may be waived by the commissioner or secretary for the sandbox period, upon receipt and approval of an application made pursuant to W.S. 40-29-104: (i) W.S. 13-1-101 through 13-2-904; (ii) W.S. 13-5-301 through 13-5-703; (iii) W.S. 17-4-201 through 17-4-412; (iv) W.S. 17-16-101 through 17-16-1810, provided that no provisions relating to the liability of incorporators, directors and officers shall be eligible for a waiver; (v) W.S. 17-28-101 through 17-28-111; (vi) W.S. 17-29-101 through 17-29-1105, provided that no provisions relating to the liability of organizers, managers and members shall be eligible for a waiver; (vii) W.S. 40-14-101 through 40-14-649; (viii) W.S. 40-21-101 through 40-21-119; (ix) W.S. 40-22-101 through 40-22-129; (x) W.S. 40-23-101 through 40-23-133. (b) A person who makes an innovative financial product or service available to consumers in the financial technology sandbox is: (i) Not immune from civil damages for acts and omissions relating to this act; and (ii) Subject to all criminal and consumer protection laws, including W.S. 40-12-101 through 40-12-114. (c) The commissioner or secretary may refer suspected violations of law relating to this act to appropriate state or federal agencies for investigation, prosecution, civil penalties and other appropriate enforcement actions. (d) If service of process on a person making an innovative financial product or service available to consumers in the financial technology sandbox is not feasible, service on the secretary of state shall be deemed service on the person.
Propose a change(a) A person shall apply to the commissioner or secretary to make an innovative financial product or service available to consumers in the financial technology sandbox, based on the office that administers the statute or rule, or portion thereof, for which a waiver is sought. If both the commissioner and the secretary jointly administer a statute or rule, or if the appropriate office is not known, an application may be filed with either the commissioner or the secretary. If an application is filed with an office that does not administer the statute or rule for which a waiver is sought, the receiving office shall forward the application to the correct office. The person shall specify in an application the statutory or rule requirements for which a waiver is sought, and the reasons why these requirements prohibit the innovative financial product or service from being made available to consumers. The application shall also contain the elements required for authorization which are set forth in subsection (f) of this section. The commissioner and secretary shall each, by rule, prescribe a method of application. (b) A business entity making an application under this section shall be a domestic corporation or other organized domestic entity with a physical presence, other than that of a registered office or agent, in Wyoming. (c) Before an employee applies on behalf of an institution, firm or other entity intending to make an innovative financial product or service available through the financial technology sandbox, the employee shall obtain the consent of the institution, firm or entity before filing an application under this section. (d) The individual filing an application under this section and the individuals who are substantially involved in the development, operation or management of the innovative financial product or service shall, as a condition of an application, submit to a criminal history background check pursuant to W.S. 7-19-201. (e) An application made under this section shall be accompanied by a fee of five hundred dollars ($500.00). The fee shall be deposited into the financial technology innovation account as provided in W.S. 40-29-105. (f) The commissioner or secretary, as applicable, shall authorize or deny a financial technology sandbox application in writing within ninety (90) days of receiving the application. The commissioner or secretary and the person who has made an application may jointly agree to extend the time beyond ninety (90) days. The commissioner or secretary may impose conditions on any authorization, consistent with this act. In deciding to authorize or deny an application under this subsection, the commissioner or secretary shall consider each of the following: (i) The nature of the innovative financial product or service proposed to be made available to consumers in the sandbox, including all relevant technical details, which may include whether the product or service utilizes blockchain technology; (ii) The potential risk to consumers and methods which will be used to protect consumers and resolve complaints during the sandbox period; (iii) A business plan proposed by the person, including a statement of arranged capital; (iv) Whether the person has the necessary personnel, adequate financial and technical expertise and a sufficient plan to test, monitor and assess the innovative financial product or service; (v) Whether any person substantially involved in the development, operation or management of the innovative financial product or service has been convicted of, or is currently under investigation for, fraud, state or federal securities violations or any property based offense; (vi) A copy of the disclosures required under W.S. 40-29-106(c) that will be provided to consumers; (vii) Any other factor that the commissioner or secretary determines to be relevant. (g) If an application is authorized under subsection (f) of this section, the commissioner or secretary shall specify the statutory or rule requirements, or portions thereof, for which a waiver is granted and the length of the initial sandbox period, consistent with W.S. 40-29-102(a)(vii). The commissioner or secretary shall also post notice of the approval of a sandbox application under this subsection, a summary of the innovative financial product or service and the contact information of the person making the product or service available through the sandbox on the internet website of the commissioner or secretary. (h) A person authorized under subsection (f) of this section to enter into the financial technology sandbox shall post a consumer protection bond with the commissioner or secretary as security for potential losses suffered by consumers. The bond amount shall be determined by the commissioner or secretary in an amount not less than ten thousand dollars ($10,000.00) and shall be commensurate with the risk profile of the innovative financial product or service. The commissioner or secretary may require that a bond under this subsection be increased or decreased at any time based on risk profile. Unless a bond is enforced under W.S. 40-29-109(b)(ii), the commissioner or secretary shall cancel or allow the bond to expire two (2) years after the date of the conclusion of the sandbox period. (j) A person authorized under subsection (f) of this section to enter into the financial technology sandbox shall be deemed to possess an appropriate license for the purposes of federal law requiring state licensure or authorization. (k) Authorization under subsection (f) of this section shall not be construed to create a property right. (m) Any fee charged and collected under this section by the commissioner shall be in accordance with W.S. 13-1-603(d) through (f).
Propose a change(a) There is created the financial technology innovation account. Funds within the account shall only be expended by legislative appropriation. All funds within the account shall be invested by the state treasurer and all investment earnings from the account shall be credited to the general fund. The account shall be divided into two (2) subaccounts controlled by the commissioner and secretary, respectively, for the purposes of administrative management. For the purposes of accounting and investing only, the subaccounts shall be treated as separate accounts. (b) Subject to legislative appropriation, application fees remitted to the account pursuant to W.S. 40-29-104(e) shall be deposited into the subaccount controlled by the commissioner or secretary, as applicable, based on the receiving official. These funds, and any additional funds appropriated by the legislature, shall be used only for the purposes of administering this act, including processing of sandbox applications and monitoring, examination and enforcement activities relating to this act.
Propose a change(a) Except as otherwise provided by W.S. 40-29-108, a person authorized under W.S. 40-29-104(f) to enter into the financial technology sandbox may make an innovative financial product or service available to consumers during the sandbox period. (b) The commissioner or secretary may, on a case by case basis, specify the maximum number of consumers permitted to receive an innovative financial product or service, after consultation with the person authorized under W.S. 40-29-104(f) to make the product or service available in the financial technology sandbox. (c) Before a consumer purchases or enters into an agreement to receive an innovative financial product or service through the financial technology sandbox, the person making the product or service available shall provide a written statement of the following to the consumer: (i) The name and contact information of the person making the product or service available to consumers; (ii) That the product or service has been authorized to be made available to consumers for a temporary period by the commissioner or secretary, as applicable, under the laws of Wyoming; (iii) That the state of Wyoming does not endorse the product or service and is not subject to liability for losses or damages caused by the product or service; (iv) That the product or service is undergoing testing, may not function as intended and may entail financial risk; (v) That the person making the product or service available to consumers is not immune from civil liability for any losses or damages caused by the product or service; (vi) The expected end date of the sandbox period; (vii) The name and contact information of the commissioner or secretary, as applicable, and notification that suspected legal violations, complaints or other comments related to the product or service may be submitted to the commissioner or secretary; (viii) Any other statements or disclosures required by rule of the commissioner or secretary which are necessary to further the purposes of this act. (d) A person authorized to make an innovative financial product or service available to consumers in the financial technology sandbox shall maintain comprehensive records relating to the innovative financial product or service. The person shall keep these records for not less than five (5) years after the conclusion of the sandbox period. The commissioner and secretary may specify further records requirements under this subsection by rule. (e) The commissioner or secretary, as applicable, may examine the records maintained under subsection (d) of this section at any time, with or without notice. All direct and indirect costs of an examination conducted under this subsection shall be paid by the person making the innovative financial product or service available in the financial technology sandbox. Records made available to the commissioner or secretary under this subsection shall be confidential and shall not be subject to disclosure under the Wyoming Public Records Act but may be released to appropriate state and federal agencies for the purposes of investigation. (f) Unless granted an extension pursuant to W.S. 40-29-108, not less than thirty (30) days before the conclusion of the sandbox period, a person who makes an innovative financial product or service available in the financial technology sandbox shall provide written notification to consumers regarding the conclusion of the sandbox period and shall not make the product or service available to any new consumers after the conclusion of the sandbox period until legal authority outside of the sandbox exists to make the product or service available to consumers. The person shall wind down operations with existing consumers within sixty (60) days after the conclusion of the sandbox period, except that, after the sixtieth day, the person may: (i) Collect and receive money owed to the person and service loans made by the person, based on agreements with consumers made before the conclusion of the sandbox period; (ii) Take necessary legal action; and (iii) Take other actions authorized by the commissioner or secretary by rule which are not inconsistent with this subsection. (g) The commissioner and the secretary may, jointly or separately, enter into agreements with state, federal or foreign regulatory agencies to allow persons who make an innovative financial product or service available in Wyoming through the financial technology sandbox to make their products or services available in other jurisdictions and to allow persons operating in similar financial technology sandboxes in other jurisdictions to make innovative financial products and services available in Wyoming under the standards of this chapter.
Propose a change(a) The commissioner or secretary may, by order, revoke or suspend authorization granted to a person under W.S. 40-29-104(f) if: (i) The person has violated or refused to comply with this act or any lawful rule, order or decision adopted by the commissioner or secretary; (ii) A fact or condition exists that, if it had existed or become known at the time of the financial technology sandbox application, would have warranted denial of the application or the imposition of material conditions; (iii) A material error, false statement, misrepresentation or material omission was made in the financial technology sandbox application; or (iv) After consultation with the person, continued testing of the innovative financial product or service would: (A) Be likely to harm consumers; or (B) No longer serve the purposes of this act because of the financial or operational failure of the product or service. (b) Written notification of a revocation or suspension order made under subsection (a) of this section shall be served using any means authorized by law, and if the notice relates to a suspension, include any conditions or remedial action which shall be completed before the suspension will be lifted by the commissioner or secretary.
Propose a change(a) A person granted authorization under W.S. 40-29-104(f) may apply for an extension of the initial sandbox period for not more than twelve (12) additional months. An application for an extension shall be made not later than sixty (60) days before the conclusion of the initial sandbox period specified by the commissioner or secretary. The commissioner or secretary shall approve or deny the application for extension in writing not later than thirty-five (35) days before the conclusion of the initial sandbox period. An application for extension by a person shall cite one (1) of the following reasons as the basis for the application and provide all relevant supporting information that: (i) Statutory or rule amendments are necessary to conduct business in Wyoming on a permanent basis; or (ii) An application for a license or other authorization required to conduct business in Wyoming on a permanent basis has been filed with the appropriate office and approval is currently pending.
Propose a changerestitution; applicability of Wyoming Administrative Procedure Act. (a) The commissioner and secretary shall each adopt rules to implement this act. The rules adopted by the commissioner and secretary under this subsection shall be as consistent as reasonably possible, but shall account for differences in the statutes and programs administered by the commissioner and secretary. (b) The commissioner or secretary may issue: (i) All necessary orders to enforce this act, including ordering the payment of restitution, and enforce these orders in any court of competent jurisdiction; (ii) An order under paragraph (i) of this subsection to enforce the bond posted under W.S. 40-29-104(h), or a portion of this bond, and use proceeds from the bond to offset losses suffered by consumers as a result of an innovative financial product or service. (c) All actions of the commissioner or secretary under this act shall be subject to the Wyoming Administrative Procedure Act.
Propose a change(a) As used in this chapter: (i) "Personal digital identity" means as defined in W.S. 8-1-102(a)(xviii); (ii) "Organizational digital identity" means as defined in W.S. 8-1-102(a)(xix).
Propose a change(a) Consistent with the provisions of W.S. 40-21-109: (i) Acts taken through a personal digital identity are attributable to a natural person if they were the act of the natural person. The act of the natural person may be established in any manner, including a showing of the efficacy of any security procedure applied to determine the natural person to which an electronic record or electronic signature or other act was attributable; (ii) Acts taken through an organizational digital identity are attributable to the organization if they were the act of the organization. The act of the organization may be established in any manner, including a showing of the efficacy of any security procedure applied to determine the organization to which an electronic record or electronic signature or other act was attributable; (iii) The effect of an electronic record or electronic signature or other act attributed to a natural person or organization under paragraphs (i) and (ii) of this subsection shall be determined from the context and surrounding circumstances at the time of its creation, execution or adoption, including the parties' agreement, if any, and as otherwise provided by law.
Propose a change(a) Any person with a personal or organizational digital identity may proceed by suit to enjoin the use of any impersonations, counterfeits or imitations thereof and any court of competent jurisdiction may grant injunctions to restrain such use as may be by the said court deemed just and reasonable, and may require the defendants to pay to such person all profits derived from or all damages suffered by reason of such wrongful use. The court, in its discretion, may enter judgment for an amount not to exceed three (3) times any profits or damages and reasonable attorneys' fees of the prevailing party in cases where the court finds the other party committed wrongful acts with knowledge or in bad faith or otherwise as according to the circumstances of the case. (b) The enumeration of any right or remedy herein shall not affect a person's right to prosecute under any penal law of this state.
Propose a changeThis act shall be known and may be cited as the "Wyoming Stable Token Act."
Propose a change(a) As used in this act: (i) "Commission" means the Wyoming stable token commission created by W.S. 40-31-103; (ii) "Board" means the board of the Wyoming stable token commission; (iii) "Director" means the director of the Wyoming stable token commission; (iv) "Financial institution" means any entity approved by the commission to act as a manager or otherwise to manage, operate and maintain Wyoming stable tokens; (v) "Notional value" means face value; (vi) "Token holder" means a person who lawfully owns any portion of a Wyoming stable token; (vii) "Treasurer" means the state treasurer; (viii) "Wyoming stable token" means the virtual currency issued by the commission pursuant to this act; (ix) "Virtual currency" means as defined in W.S. 34-29-101(a)(iv); (x) "This act" means W.S. 40-31-101 through 40-31-110.
Propose a change(a) There is created the Wyoming stable token commission, which is a body politic and corporate operating as an instrumentality of the state of Wyoming, with authority to adopt an official seal and to sue and be sued. The commission may enter into agreements with other states for the purposes of consulting, coordinating and facilitating the use of Wyoming stable tokens issued by the commission under this act. (b) The commission shall be governed by a board composed of: (i) The governor or the governor's designee; (ii) The auditor or the auditor's designee; (iii) The treasurer or the treasurer's designee; (iv) Not more than four (4) subject matter experts in virtual currency and financial technology appointed by a majority vote of the members of the board designated in paragraphs (i) through (iii) of this subsection, and serving at the discretion of those members. Only subject matter experts who are free from conflict of interest in performing the duties of the board shall be appointed to, or serve on, the board. Each subject matter expert shall be required to furnish fingerprints for submission to the federal bureau of investigation or any governmental agency or entity authorized to receive fingerprints for a state, national and international criminal history background check. (c) Members of the board appointed pursuant to paragraph (b)(iv) of this section shall receive the same per diem, expenses and travel allowance as members of the legislature under W.S. 28-5-101 while in attendance at meetings of the board and while performing their duties as members of the board. (d) The commission is subject to the requirements of: (i) W.S. 16-3-101 through 16-3-105; (ii) W.S. 16-4-201 through 16-4-205; (iii) W.S. 16-4-401 through 16-4-408.
Propose a changeA Wyoming stable token is a virtual currency representative of and redeemable for one (1) United States dollar held in trust by the state of Wyoming as provided by W.S. 40-31-106. Stable tokens shall only be issued in exchange for United States dollars.
Propose a change(a) This act shall be administered by the commission in accordance with this act. (b) The commission shall adopt rules and regulations as necessary to administer this act and to ensure compliance with all applicable state and federal law. (c) The commission may: (i) Issue Wyoming stable tokens as provided in this act, and provide for matters related to the issuance of Wyoming stable tokens, including the types of Wyoming stable tokens to be issued, the supply characteristics for each type, the means used to issue, maintain and manage the Wyoming stable tokens and the manner of and requirements for redemption; (ii) Retain professional services, if necessary, including accountants, auditors, consultants and other experts; (iii) Make and enter into any contracts, agreements or arrangements and retain, employ and contract for the services of financial institutions, financial service providers and research, technical and other services as necessary to implement this act; (iv) Select the financial institutions to manage the Wyoming stable tokens; (v) Seek rulings and other guidance from the United States department of the treasury, the United States internal revenue service, the United States securities and exchange commission and any other relevant federal agency relating to this act; (vi) Utilize the services of the state treasurer's office in investing and managing the Wyoming stable token trust account; (vii) Employ a director and employees as it deems necessary for the performance of its duties. The commission shall prescribe the powers and duties and fix the compensation of the director and employees. The director shall be required to furnish fingerprints for submission to the federal bureau of investigation or any governmental agency or entity authorized to receive fingerprints for a state, national and international criminal history background check. (d) The commission shall: (i) Notwithstanding W.S. 9-4-716, maintain, invest and reinvest the funds received for issuing Wyoming stable tokens and any earnings from those investments in accordance with investment policies established by rule and regulation of the commission in consultation with the treasurer and according to this act; (ii) Oversee the review and audit of the operations and transactions implemented pursuant to this act to include the commissioning of independent audits as necessary. Costs incurred to perform independent audits and reviews of the implementation of this act shall be deemed operational costs. (e) Before publicly issuing any fully reserved Wyoming stable tokens, the director shall provide a comprehensive report to the select committee on blockchain, financial technology and digital innovation technology and the joint minerals, business and economic development interim committee on all actions taken under this act.
Propose a change(a) The Wyoming stable token trust account is created. The commission shall deposit all funds received for the issuance of Wyoming stable tokens into the account. Funds within the account received from the sale of Wyoming stable tokens shall be held in trust to support the redemption of Wyoming stable tokens, and shall not be expended for any other purpose but shall be expended to redeem Wyoming stable tokens. The commission shall invest funds within the account exclusively in cash, United States treasury securities with a maturity of three hundred sixty-five (365) days or less, United States treasury security repurchase agreements with a term of thirty (30) days or less or in compliance with 17 C.F.R. part 270.2a-7. By creation of this trust, the state does not create any fiduciary duty to token holders. Investment earnings generated by the funds in the account may be deposited in the Wyoming stable token administration account as provided in subsection (b) of this section. (b) Not less than one hundred percent (100%) of the notional value of all outstanding issued Wyoming stable tokens shall be maintained in the Wyoming stable token trust account. All earnings paid on funds and investments in the account shall be deposited in the account. Investment earnings on funds in the account in excess of one hundred percent (100%) of the notional value of all outstanding issued Wyoming stable tokens shall be transferred to the Wyoming stable token administration account. (c) The Wyoming stable token administration account is created. Funds received into the account from any source shall be retained, expended or transferred and are continuously appropriated for the following: (i) To pay for the operational costs of this act until all operational costs of this act are fully paid; (ii) After payment of operational costs, to be transferred to the Wyoming stable token liquidity account created in subsection (d) of this section in amounts necessary to maintain in the liquidity account an amount equal to two percent (2%) of the notional value of all outstanding issued Wyoming stable tokens; (iii) From any funds remaining after the expenditures and transfers required by paragraphs (i) and (ii) of this subsection, funds in the administration account shall be retained in the administration account for savings in an amount consistent with rules set by the commission to provide for future expenditures under paragraph (i) of this subsection; (iv) Amounts remaining in the administration account after the application of paragraphs (i) through (iii) of this subsection shall be distributed on a quarterly basis into the public school foundation program account created by W.S. 21-13-306(a). (d) The Wyoming stable token liquidity account is created. The commission shall maintain in the liquidity account an amount equal to two percent (2%) of the notional value of all outstanding issued Wyoming stable tokens as a reserve amount. Funds in the liquidity account are continuously appropriated to the commission for the purpose of maintaining a reserve amount as required by this subsection and for transferring funds to the Wyoming stable token trust account to mitigate losses incurred in the liquidation of assets held in the trust account and to support the redemption of Wyoming stable tokens as provided by this act. Nothing in this subsection shall be construed to prohibit the commission from transferring funds from the liquidity account to the Wyoming stable token trust account for redemption support. For purposes of this act, funds in the Wyoming stable token liquidity account shall not be treated as part of the Wyoming stable token trust account. (e) The commission may, subject to rules promulgated by the commission, accept federal grants and other contributions, grants, gifts, transfers, bequests and donations from any source for deposit into any account created in this section, provided that funds deposited into an account under this section shall be subject to the requirements of that account.
Propose a changeOne (1) Wyoming stable token shall be redeemable for one (1) United States dollar upon demand as set forth by rule of the commission. The value of the Wyoming stable token upon redemption shall be one (1) United States dollar for each one (1) Wyoming stable token, unless the interest rate of United States treasury bills at the time of redemption is negative or the total assets available in the Wyoming stable token trust account divided by the number of outstanding Wyoming stable tokens is less than one (1) dollar, in which case the value of the Wyoming stable token upon redemption shall be the liquidated value of the United States treasury bill redeemed to pay the demand for the Wyoming stable token as determined by rule of the commission. In no case shall the redemption result in the state paying a higher amount than the total assets in the Wyoming stable token trust account divided by the number of outstanding Wyoming stable tokens after all expenses have been paid as determined by the commission and auditor as provided by rules and regulations of the commission.
Propose a change