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Can I offer a loyalty program for my customers in Wyoming? What are the requirements?

Loyalty Program Requirements in Wyoming

Based on the provided context documents, there are no specific regulations or requirements in Wyoming that prohibit offering a loyalty program for customers. However, businesses operating in Wyoming are subject to various regulations and requirements, including those related to record-keeping [3.2].

To ensure compliance with applicable laws and regulations, businesses offering loyalty programs should keep accurate records of transactions and customer information [3.2]. Additionally, businesses should ensure that their loyalty program does not violate any prohibitions or requirements related to marketing programs [5.2].

License Requirements

If you are offering a loyalty program that involves money transmission, you may need to obtain a license in Wyoming. According to WYST 40-22-103, no person shall engage in the business of money transmission without a license, with the exception of those persons exempt pursuant to W.S. 40-22-104 [2.2].

Additionally, each licensee shall at all times have a net worth of not less than twenty-five thousand dollars ($25,000.00), as calculated in accordance with generally accepted accounting principles [2.1].

Domestication of Foreign Corporations

If you are a foreign corporation and want to offer a loyalty program in Wyoming, you may need to become a domestic corporation by delivering or causing to be delivered to the secretary of state articles of domestication [4.2].

Conclusion

In conclusion, there are no specific requirements related to loyalty programs in Wyoming. However, if your loyalty program involves money transmission, you may need to obtain a license and meet certain net worth requirements. Additionally, if you are a foreign corporation, you may need to become a domestic corporation. As always, businesses should ensure that their program complies with all applicable laws and regulations.

Therefore, you can offer a loyalty program for your customers in Wyoming, but you should ensure that your program complies with all applicable laws and regulations, including those related to money transmission and domestication of foreign corporations.

Source(s):
Jurisdiction

Wyoming