RULES AND REGULATIONS OF THE COMMISSIONER

CHAPTER 1

GENERAL MATTERS AND DEFINITIONS   

  Section 1. Authority.

  (a) Generally, these Rules and Regulations (herein after referred to as the "Rules") are promulgated pursuant to W.S. 16-3-102(a)(i). Some Chapters are also promulgated pursuant to other, more specific statutory authority, as specified in such Chapter.

  (b) This Chapter provides for matters that apply generally to residential mortgage loans and supplies general information that is basic and common to the balance of these Rules.

  Section 2. Definitions.

  (a) When used in these Rules, Chapters 1 through 5, the following definitions apply:

    (i) "Appeal period" means the period of twenty (20) days after the notice date.

    (ii) "Cease and desist order" means an order that instructs the ordered person to cease and desist from proscribed activity.

    (iii) "Commissioner" means the State Banking Commissioner of the state of Wyoming.

    (iv) "Contested case" means any formal or investigative hearing before the Commissioner.

    (v) "Division" means the Department of Audit, Division of Banking.

    (vi) "Hearing" means a public hearing before the Commissioner on an application as provided in W.S. 40-23-107(d) or W.S. 40-23-126(c), or an appeal from the Commissioner's notice of intent.

    (vii) "Hearing date" means the date set by the hearing officer for the hearing. The hearing date shall be no less than ten (10) days and no more than ninety (90) days from the date the appeal is filed with the Commissioner. Upon agreement of the parties and the hearing officer, the hearing date may be extended past ninety (90) days from the date the appeal is filed.

    (viii) "Hearing notice" means the notice of the hearing given by the hearing officer to the respondent.

    (ix) "Hearing officer" means the any person appointed by the Commissioner to preside over a contested case.

    (x) "Notice date" means the date on which the ordered person is served with a notice of intent, which shall conclusively be the date shown on the return receipt or other reliable report of service.

    (xi) "Notice of intent" means the notice given by the Commissioner that he intends to issue a final order.

    (xii) "Order" means a cease and desist order, consent order, penalty order, order to show cause, adjustment order, or any other order issued by the Commissioner.

    (xiii) "Ordered person" means a person who or which is the subject of an order and upon whom or which the order is to operate directly.

    (xiv) "Penalty order" means an order, or such portion of an order, that imposes a civil monetary penalty.

    (xv) "Person" means an individual, sole proprietorship, partnerships, corporation, limited liability company or other entity, public or private.

    (xvi) "Proscribed activity" means, as determined by the Commissioner, any action or inaction that violates the Wyoming Residential Mortgage Practices Act.

    (xvii) "Residential mortgage loan" means a first mortgage loan made primarily for personal, family or household use and primarily secured by a security interest on residential real property in Wyoming upon which is constructed or intended to be constructed a dwelling.

    (xviii) "Respondent" means the person whose legal rights, duties, privileges, or conduct are the subject of a hearing before the Commissioner.

  Section 3. Filing.

  (a) All papers, records and all other property of the division shall be maintained and filed in the office of the Commissioner.

  (b) All communications shall be made to the Commissioner and the records of such communications kept in said office.

  Section 4. Computation of Time.

  Unless otherwise stated, in computing any time period prescribed by these Rules, the day of the act or event from which the time period begins to run shall not be included. The last day of the period so computed shall be included, unless it is a Saturday, a Sunday, or a legal holiday, in which event the period runs until the end of the next day which is not a Saturday, a Sunday, or a legal holiday. When the period is less than eleven (11) days, Saturdays, Sundays, and legal holidays shall be excluded in the computation.

  Section 5. Rules of Construction.

  (a) Unless the content clearly indicates otherwise, this Chapter applies to all Chapters.

  (b) Unless the context clearly indicates otherwise, these Rules shall be construed as follows:

    (i) Words and phrases shall be taken in their ordinary and usual use, but technical words and phrases having a peculiar and appropriate meaning in law or in the residential mortgage loan industry shall be understood according to their technical import.

    (ii) Reference to "Wyoming Statutes" or the abbreviation "W.S." means the Wyoming Statutes as published from time to time and, pending reduction to published form and subject to applicable effective dates, all supplements, additions and other modifications enacted by the Legislature of the State of Wyoming. Reference to a named act or rule shall be treated correspondingly.

    (iii) Words in the present tense include the future tense;

    (iv) Words in the plural form include the singular and words in the singular form include the plural;

    (v) Words expressed using one gender include the other genders;

    (vi) Use of the term "includes" or "including" means that the list of items is not exhaustive but instead is illustrative.

    (vii) If any provision of the Act or these Rules or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the Act or Rules which can be given effect without the invalid provision or application, and to this end the provisions are severable.

  Section 6. Records.  

  If any book, log, journal, document, record or information relevant and necessary to the examination or investigation is kept or maintained electronically, the business examined or investigated shall provide such data or access to data in an electronic format when requested by the Commissioner.