Wyoming § 4-10-1012 Interest of trustee as general partner

Wyoming Statutes

§ 4-10-1012 — Interest of trustee as general partner

Wyoming § 4-10-1012

Title 04Fiduciaries

Ch. 10UNIFORM TRUST CODE

Art. 10LIABILITY OF FIDUCIARIES AND RIGHTS OF PERSONS

This text of Wyoming § 4-10-1012 (Interest of trustee as general partner) 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. § 4-10-1012 (2026).

Text

(a)Except as otherwise provided in subsection (c) of this section or unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust's acquisition of the interest if the fiduciary capacity was disclosed in the contract or in a statement previously filed pursuant to W.S. 17-14-201 through 17-14-209 or 17-21-101 through 17-21-1105.

(b)Except as otherwise provided in subsection (c) of this section, a trustee who holds an interest as a general partner is not personally liable for torts committed by the partnership or for obligations arising from ownership or control of the interest unless the trustee is personally at fault.

(c)

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(a) Except as otherwise provided in subsection (c) of this
section or unless personal liability is imposed in the contract,
a trustee who holds an interest as a general partner in a
general or limited partnership is not personally liable on a
contract entered into by the partnership after the trust's
acquisition of the interest if the fiduciary capacity was
disclosed in the contract or in a statement previously filed
pursuant to W.S. 17-14-201 through 17-14-209 or 17-21-101
through 17-21-1105.
(b) Except as otherwise provided in subsection (c) of this
section, a trustee who holds an interest as a general partner is
not personally liable for torts committed by the partnership or
for obligations arising from ownership or control of the
interest unless the trustee is personally at fault.
(c) The immunity provided by this section does not apply
if an interest in the partnership is held by the trustee in a
capacity other than that of trustee or is held by the trustee's
spouse or one (1) or more of the trustee's descendants,
siblings, or parents or the spouse of any of them.
(d) If the trustee of a revocable trust holds an interest
as a general partner, the settlor is personally liable for
contracts and other obligations of the partnership as if the
settlor were a general partner.