[{"_1":2,"_100":-5,"_101":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",5975304,"mediaKeyId","5843292-1754e82c56dc2bff56fea8871ebf4f9f","parentId",5843292,"title","Committee revises and advances changes to unincorporated nonprofit (Doona) statute","audioSeconds",1817,"startMs",5984000,"endMs",7801000,"viewUrl","/Search/View?dp=1&key=5843292-1754e82c56dc2bff56fea8871ebf4f9f&start=5984&end=7801","thumbnailUrl","https://assets.pipeline.soar.com/5843292-1754e82c56dc2bff56fea8871ebf4f9f/thumbnail_5984000.jpg","articleUrl","/articles/5975304/Wyoming/Committee-revises-and-advances-changes-to-unincorporated-nonprofit-Doona-statute","mediaUrl","https://secure.pipeline.soar.com/5975304-9402572e0565978f66200444569bd11b/orig.mp4?Expires=1775472390&Signature=kIgMNp~cZMPtwmqOC-idWcBkUEbQeLqIlFGw6sCizbX4b1iB5RFFzCkpH0aXhrq60r4Do1jVTirO~i1C3vR~gumadcAvKaKbMc93UruHeLRYyYCRRPXyt6VtdzAyc5IsYai4DXgTf2z0vHlxfi4taOfYhUH-2z4~7HSYqM3jXEeaYS~M1CgOMRAi2MOIWzmqdbytWsHlHnHm0AyslGD1whq6sCDVhO4a3jwZAlin80PL0yedZ~VU73eiCY-UqBQ1Zic2DXpTiBiPPoOWFkjgK7Gh4iH1nwP8NMid2AoIL-1zM1fw0r3qCZ7Yhyyrw-Vn7zXtobstQnesYle5myTMiQ__&Key-Pair-Id=KUT5TJCACFTXG","author","Wyoming Legislature","date","2025-09-24T06:49:20Z","article","The select committee approved a set of technical amendments to Wyoming’s statute for decentralized unincorporated nonprofit associations (DUNAs), clarifying definitions and adding procedural mechanics for how a DUNA and ordinary unincorporated nonprofit associations (UNAs) may interact with real‑property records and with each other.
LSO staff told the committee the draft “creates the definition of distributed ledger protocol” and clarifies that a DUNA may automatically convert to a UNA if the DUNA falls below the 100‑member requirement “unless the governing principles specify otherwise.” The draft also authorizes DUNAs and UNAs to file a statement of authority to transfer real property “in the office of the secretary of state,” a practice staff noted the secretary of state currently performs in some cases though county clerks historically handle land recording.
Why it matters: Wyoming’s DUNA statute has been used by several prominent decentralized projects. The changes are designed to reduce ambiguity for operators and counterparties (banks, title offices and others) and to make the statutes more consistent and easier to use in practice.
What the bill does and committee actions
- Definitions and harmonization: The draft adds and shifts definitions (including moving a “charitable purpose” definition so it appears in the statutory section where it is used) and instructs LSO to consider whether the word choice “solely” or “merely” should be made uniform across the UNA and DUNA statutes (the committee chose the Supreme Court‑tested “solely” wording for consistency).
- Member threshold and conversion: The statute will allow an automatic conversion from DUNA to UNA when membership drops below 100 unless the organization’s governing documents say otherwise. Stakeholders said the 100‑member threshold was set deliberately to distinguish more decentralized organizations from small private clubs and to limit unintended tax consequences.
- Recordation of statements of authority: The bill allows a DUNA or UNA to file statements of authority for real property; staff noted that county clerks are the customary recorder for land instruments and recommended follow‑up with county clerks and the secretary of state to align filing practice and to decide whether records should be maintained in both offices.
- Practical notes: Witnesses described active usage of the law by new decentralized organizations. A representative said several DUNAs have filed formation documents and are using the secretary of state filings and websites to show existence to banks and other counterparties. The committee discussed adding a certificate‑of‑existence process and a modest fee so the secretary of state could issue an official certificate of existence for UNAs and DUNAs.
Stakeholder input and concerns
- Practitioners from projects that have adopted the legal form said the statute functions as intended but benefits from clarifying language to ease banking and other commercial steps.
- Legislative staff and projects recommended aligning a distributed‑ledger definition with other bills (for example, the Genius/Token Taxonomy drafts) and making the DUNA definitions technology‑agnostic so the statute will not freeze a particular technical approach.
Next steps
The committee approved the draft (roll call recorded: 7 ayes, 1 excused) and requested staff to issue conforming edits (notably: adopting a consistent “solely”/“merely” approach and checking secretary‑of‑state vs. county clerk practices on recording property statements). Staff and stakeholders signaled willingness to return to the committee with a short technical follow‑up addressing recording practice and a possible certificate‑of‑existence proposal.
","mediaType","Video","parentTitle","Select Committee on Blockchain, Financial Tech. & Digital Innovation Tech., September 23, 2025 - AM","oneSentenceSummary","The select committee approved technical amendments to Wyoming’s DUNA law to clarify definitions, add conversion mechanics between UNAs and DUNAs, and to allow filing of statements of authority for real‑property transactions.","taxTitle","Select Committee on Blockchain, Financial Technology and Digital Innovation Technology, Select Committees & Task Force, Committees, Legislative, Wyoming","taxId",29269,"location","Wyoming","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},5975309,"Wyoming committee advances amendments to special‑purpose depository and state bank conversion rules",4269,144000,4413000,"/Search/View?dp=1&key=5843292-1754e82c56dc2bff56fea8871ebf4f9f&start=144&end=4413","https://assets.pipeline.soar.com/5843292-1754e82c56dc2bff56fea8871ebf4f9f/thumbnail_144000.jpg","/articles/5975309/Wyoming/Wyoming-committee-advances-amendments-to-specialpurpose-depository-and-state-bank-conversion-rules","https://secure.pipeline.soar.com/5975309-9265b3875b55311e009e69ece150659f/orig.mp4?Expires=1775472390&Signature=ee7QGXzftsKJpFIjfBCaW8BnOzVp44fPym7Y0ZfgUlthKxxpUlJc~gy2uBKqSURgRVihFP387YF7Qb88pX6nZvO6A8ErpMiMNOGYNpTmf-gXYC5m~QAGfLAG9GOXgaKkM4DciXuSQ6vEAHVrqikhaBZlWK0-wPEhFnwB44VHQWDBVur6l9FnxGkL91BHblaAEb4pkl1L0zUMayBhdHuTRLrRHCsB9Zz8k9AOXhSs10Uq446PV2G-Jl0jCmU5xqvxhvJ~gQVl5dGMJt6hajV5hl9tbDgTg~6njwoze8nrE3aLJaLJWTmVX9Q5u5HVJDmp8gbtsh0Jhf2lA27yC6UFtw__&Key-Pair-Id=KUT5TJCACFTXG","A legislative select committee moved Tuesday to support a draft that would set procedures for conversions between special‑purpose depository institutions and state banks and signaled support for combining three related SPDI bills into a single amendment package for the next session.
The committee — after presentations from Legislative Service Office staff and State Banking Commissioner Jeremiah Bishop — agreed to support one bill draft that would authorize conversion applications, set review criteria and require a certificate of authority before any converted bank may commence business.
The change was described by LSO staff as: “The bill draft authorizes the state banking commissioner with approval of the state banking board to convert the charter to a state bank and authorizes the charter to a state bank to be converted to a city.”
Why it matters: the bills are intended to clarify how emerging charter types convert between each other, reduce some start‑up frictions for SPDIs, and create a state‑level resolution fund to cover costs if an SPDI fails. Supporters said the changes will make Wyoming’s charter options more competitive for firms seeking U.S. regulatory shelter while keeping supervisory controls in place.
Key facts and outcomes
- The committee voted to register support for bill draft 26LSO13 (state bank and SPDI conversion language) by voice vote; the motion carried. The committee then voted to combine three other draft bills (amendments to SPDI capital and certificate timing, repeal of the SPDI contingency account, and a creation of an SPDI resolution fund account) into a single “Speedy Bank Amendments” draft and to support moving that draft forward.
- Commissioner Jeremiah Bishop described the conversion draft as following the same process as an initial charter application and said any converted entity still must meet the same requirements as a de novo charter to receive a certificate of authority.
- Major operational changes discussed in the SPDI amendment drafts include changing the initial capital calculation from a three‑year estimate of operating expenses to a one‑year estimate, extending the deadline to commence business after receipt of a certificate of authority from six months to 12 months (with the ability to request extensions), and clarifying the review timeline (for example, LSO noted review and appeal periods in the drafts such as a 90‑day review and 30‑day certificate decision windows).
- One draft would repeal the statutory requirement that SPDIs maintain a 2% contingency account backing deposits (Wyoming statute cited in the draft as 13 12 1 0 6), a requirement stakeholders said can be redundant to capital rules and an impediment to competitiveness.
- Another draft would create a “speedy resolution fund account” to collect a portion of supervisory fees and use those funds if an SPDI required involuntary dissolution, with staff noting the commissioner currently could set the percentage by rule (the draft as written would allow 1%–99%; staff suggested the committee may want a narrower specification; the commissioner and staff discussed the working assumption of 25% as used with trust companies).
Discussion points and conditions
- Appeals and court venue: committee members raised questions about whether appeals of agency decisions should go to the Chancery Court or to the district court and whether existing Chancery Court rules that permit parties to “opt out” of Chancery jurisdiction would still apply. The committee agreed to add conforming language to clarify the venue and to permit the existing opt‑out mechanisms under court rules.
- Certificate of authority sequencing: members asked that the statute be made explicit that the commissioner may set reasonable, institution‑specific requirements that must be satisfied before commencement of business even after a certificate of authority is issued; members requested a new subsection explicitly granting that authority to avoid ambiguity between existing subsections.
- Contingency account repeal: Commissioner Bishop and industry representatives said capital requirements and supervisory authority provide other tools to address risk; they argued the 2% contingency account is redundant and often funded by customers rather than capital, creating operational friction.
- Resolution fund: staff and Commissioner Bishop described the fund as a means to avoid pressing the general fund to pay for a protracted wind‑down of an SPDI; commissioner indicated the statutory pledge amount (currently described around $15,000,000 in the drafts) was an early estimate and may not reflect actual liquidation costs.
Stakeholder input
- Speedy charter applicants and industry participants testified in support. Julie Fellowes, cofounder and CEO of Bankwise, thanked the committee for the working‑group process and said the working group produced “good output.”
- A representative of Kraken Financial said the proposals would “improve clarity, reduce unnecessary capital friction and enhance Wyoming’s competitiveness” and noted that, anecdotally, operational capital in some firms was far larger than the minimum ratios regulators expect.
- The Wyoming Bankers Association testified in support of the committee’s suggested court‑venue amendment and of the overall drafts.
Next steps and implementation notes
- The committee asked staff to circulate the combined “Speedy Bank Amendments” draft, incorporate the clarifying language discussed in committee (court venue, explicit commissioner authority to set commencement requirements, and a clearer appeal path for denial of extensions), and offer the draft for member review prior to finalization.
- Legislators discussed where the prime sponsorship should originate and suggested the Senate as a potential place to start given House calendar constraints.
Ending note
Committee members described the drafts as “sensible, traditional cleanup” aimed at reducing ambiguity and improving competitiveness while retaining supervisory authority; the committee’s next step is to circulate the combined draft and finalize conforming language ahead of the session.
","A legislative select committee on financial technology advanced a package of amendments to state bank and special‑purpose depository institution (SPDI) law, moving to support a conversion framework and to combine three related SPDI bills into one draft for next session after stakeholder review and recommended wording changes.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},5975300,"Committee approves government data‑privacy draft with carve‑outs for public records",3396,10784000,14180000,"/Search/View?dp=1&key=5843292-1754e82c56dc2bff56fea8871ebf4f9f&start=10784&end=14180","https://assets.pipeline.soar.com/5843292-1754e82c56dc2bff56fea8871ebf4f9f/thumbnail_10784000.jpg","/articles/5975300/Wyoming/Committee-approves-government-dataprivacy-draft-with-carveouts-for-public-records","https://secure.pipeline.soar.com/5975300-2ceff8687791e7d1360ccd05419171d6/orig.mp4?Expires=1775472390&Signature=MpUVNllktfpQu9vISg8LNiHsfjbPhUqLphCSLw6Or3vnlFnEBCFMhE1nAT0Aa8JWZWB9E64XXgGwnwrthpTOp3FdBXEvE5s1JR6PQKrdq~Hz9-4U~u~dM7EzWTz-bfKhnoBpWF~4J0fZwLSwb8mw2Dpk29-yRAEMQotqKxte-tqhNDOJWpYJ7LZRlFOr9huFXPJO4IEa9smOdiGgpzg43LMVb-i7GlMUculYINLrMA7L2AdaUePEcIOQPKgymMoquBkCBh2sRw0ApeUnXpcDEJ5D4zYj0tSfTAb9P31wB7BpOJDyv9jW9lyFjdrULjGD~KDWnljyrjXZLeIOpJoYGA__&Key-Pair-Id=KUT5TJCACFTXG","A legislative select committee voted to advance a government data‑privacy bill that would, in general, prohibit state and local government entities from purchasing, selling, trading or transferring personal data without the natural person’s expressed consent — but would exempt records covered by the Public Records Act and several routine government uses.
The draft also gives Wyoming residents the right to request copies of their personal data from government entities and requires agencies that collect personal data to adopt policies on collection, retention, access, and security.
Why it matters: the draft aims to increase transparency and public trust in how government handles personally identifiable information (PII) while preserving standard public‑records access, court‑mandated disclosures and necessary operational data sharing (for example, between agencies, with vendors performing government services, and when federal law permits disclosure).
Key provisions and committee action
- Core prohibition and exceptions: The draft makes it unlawful for government entities to purchase, sell, trade or transfer personal data without the natural person’s consent, subject to enumerated exemptions and to any other statute that already authorizes disclosure. The committee added an explicit carve‑out confirming the bill does not restrict access to documents that are public records under Wyoming law.
- Access and consumer right: The bill grants current or former Wyoming residents (and their legally authorized representatives) the right to request a copy of personal data the government maintains; committee members asked staff to add language requiring agencies to verify a requester’s identity (due diligence) before releasing data.
- Data minimization and retention: The draft prohibits agencies from retaining more personal data than reasonably necessary for lawful functions and limits routine retention to three years unless the agency has a written policy justifying an extended retention period.
- Implementation and operational concerns: state IT staff and the University of Wyoming flagged administrative and technical costs. The university estimated rework of its primary administrative system could cost roughly $800,000 to manage required deletion/retention workflows. County clerks and election officials asked committee members to clarify how the bill would apply to voter rolls, recorded deeds and other public records; the committee added text to make public records governed by the Public Records Act explicitly out of scope for the new restrictions.
Stakeholder input
- TechNet (technology industry trade group) said the bill’s goals are sound but urged the committee to align its draft with other state privacy laws and to be careful about exemptions so government agencies can keep providing services that rely on third‑party data and federal law demands.
- The University of Wyoming asked the committee to note the administrative impacts of changes to retention and deletion requirements for core campus systems.
- County election official testimony highlighted that voter‑roll data is a public record and that routine public‑records access and archival requests must remain possible.
Next steps and guidance
Committee members adopted several technical clarifications (adding current/former resident language in the requester definition, adding a legally authorized‑representative clause, and explicitly exempting documents subject to the Public Records Act). Members asked staff to draft verifying‑identity/due‑diligence language before the bill moves into the formal bill‑draft process.
","A select committee advanced a draft prohibiting government entities from buying, selling, or transferring personal data without consent while creating an exceptions framework for public records, law enforcement, and other permitted uses; committee members requested clarifying language to avoid operational burdens on county clerks and agencies.","actionData","errors"]

Article not found

Committee revises and advances changes to unincorporated nonprofit (Doona) statute

Wyoming committee advances amendments to special‑purpose depository and state bank conversion rules

Committee approves government data‑privacy draft with carve‑outs for public records