(a) A proposed business entity name shall not be the same as or deceptively similar to any trademark or service mark registered in this state and shall be distinguishable upon the records of the Secretary of State from other business names as provided in W.S. 17-16-401 and as determined by the Secretary of State.
(b) The use of statutory trust company names shall be restricted in the following manner: - (i) No person or entity shall organize under a name using any of the terms "bank," "banker," "bancorp," "bancorporation," "banc," "banque," "banquers," "banco," "banca," or words of similar import, whether in English or a foreign language, until they have fully complied with W.S. 1977 13-1-101 et seq., the banking laws of a United States jurisdiction, the Federal Bank Holding Act of 1956 (12 use 1841), or the federal Homeowners Loan Act ( 12 U.S.C. 1461 et. seq.). If good reason is shown for the use of the words "bancorp" or "bancorporation," the Secretary of State may at her discretion allow the use of the word(s), e.g., subsidiaries using parent company's name and parent company is regulated. If a proposed statutory trust company name uses any of the terms outlined in this subparagraph in a way which is clearly not related to banking, or any other financial endeavor, this subparagraph does not apply. (For example, "Wyoming Blood Bank".)
- (ii) The name must not imply that the statutory trust company name is a degree granting institution of higher learning until verifying that it is licensed by the Department of Education. If the Department of Education requires licensing and the company is not licensed, then the Secretary of State shall refuse to file the documents until licensing is completed. This rule does not apply to institutions of higher learning which are exempt from licensing under the Department of Education's statutes or rules or to non-educational entities such as "University Bookstore, Inc."
- (iii) Any statutory trust name in which the word "statutory" does not immediately precede the word "trust" will be rejected by the Secretary of State. A statutory trust name need not include the words "statutory trust".