Wyoming Trust Company Bond Guide
If you’re opening a supervised trust company in Wyoming, you’ll likely need this surety bond.
Bond Overview
- Purpose: To protect the state and clients if a trust company becomes insolvent
- Who Needs It: Supervised trust company owners in Wyoming
- Regulating Body: The Commissioner of Banking of Wyoming
- Required Coverage: $1,000,000–$1,500,000
- Premium Rate: 1–10%, credit-based
Learn all about the bond requirements and process in this guide.
What Is a Wyoming Trust Company Bond?
A Wyoming trust company bond is a financial security instrument to cover potential costs to the commissioner if a supervised trust company is liquidated or entered into a receivership.
How Much Do Trust Company Bonds Cost?
Wyoming trust company bonds cost a small percentage of the coverage amount, typically 1–10%.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Trust Company Bond?
The Commissioner of Banking of Wyoming requires a minimum $1,000,000 bond as part of the licensing process for supervised trust companies in the state.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Wyoming trust company bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll email you the bond shortly after purchase. Be sure to file it with the Commissioner as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Wyoming Trust Company Bond Work?
A trust company bond creates a legal contract between these three parties:
- Principal: You, the trust company owner filing the bond
- Obligee: The Commissioner of Banking of Wyoming requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of Wyoming Statutes § 13-12-122.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your trust company bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.