§ 17-16-603 — Issued and outstanding shares

(a) A corporation may issue the number of shares of each
class or series authorized by the articles of incorporation.
Shares that are issued are outstanding shares until they are
reacquired, redeemed, converted, or cancelled.
(b) The reacquisition, redemption, or conversion of
outstanding shares is subject to the limitations of subsection
(c) of this section and to W.S. 17-16-640.
(c) At all times that shares of the corporation are
outstanding, one (1) or more shares that together have unlimited
voting rights and one (1) or more shares that together are
entitled to receive the net assets of the corporation upon
dissolution shall be outstanding.