Wyoming § 17-10-220 Limitation of director's liability

Wyoming Statutes

§ 17-10-220 — Limitation of director's liability

Wyoming § 17-10-220

Title 17Corporations, Partnerships and Associations

Ch. 10COOPERATIVE MARKETING ASSOCIATIONS

Art. 2PROCESSING COOPERATIVE

This text of Wyoming § 17-10-220 (Limitation of director's liability) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 17-10-220 (2026).

Text

(a)A director's personal liability to the cooperative or members for monetary damages for breach of fiduciary duty as a director may be eliminated or limited in the articles except as provided in subsection (b) of this section.

(b)The articles may not eliminate or limit the liability of a director:

(i)For a breach of the director's duty of loyalty to the cooperative or its members;

(ii)For acts or omissions that are not in good faith or involve intentional misconduct or a knowing violation of law;

(iii)For a transaction from which the director derived an improper personal benefit; or

(iv)For an act or omission occurring before the date when the provision in the articles eliminating or limiting liability becomes effective.

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(a) A director's personal liability to the cooperative or
members for monetary damages for breach of fiduciary duty as a
director may be eliminated or limited in the articles except as
provided in subsection (b) of this section.
(b) The articles may not eliminate or limit the liability
of a director:
(i) For a breach of the director's duty of loyalty to
the cooperative or its members;
(ii) For acts or omissions that are not in good faith
or involve intentional misconduct or a knowing violation of law;
(iii) For a transaction from which the director
derived an improper personal benefit; or
(iv) For an act or omission occurring before the date
when the provision in the articles eliminating or limiting
liability becomes effective.