Wyoming § 17-16-861 Judicial action

Wyoming Statutes

§ 17-16-861 — Judicial action

Wyoming § 17-16-861

Title 17Corporations, Partnerships and Associations

Ch. 16WYOMING BUSINESS CORPORATION ACT

Art. 8DIRECTORS AND OFFICERS

This text of Wyoming § 17-16-861 (Judicial action) 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. § 17-16-861 (2026).

Text

(a)A transaction effected or proposed to be effected by the corporation, or by an entity controlled by the corporation, may not be the subject of equitable relief, or give rise to an award of damages or other relief against a director of the corporation, in a proceeding by a shareholder or by or in the right of the corporation, on the ground that the director has an interest respecting the transaction, if it is not a director's conflicting interest transaction.

(b)A director's conflicting interest transaction may not be the subject of equitable relief, or give rise to an award of damages or other relief against a director of the corporation, in a proceeding by a shareholder or by or in the right of the corporation, on the ground that the director has an interest respecting the transactio

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(a) A transaction effected or proposed to be effected by
the corporation, or by an entity controlled by the corporation,
may not be the subject of equitable relief, or give rise to an
award of damages or other relief against a director of the
corporation, in a proceeding by a shareholder or by or in the
right of the corporation, on the ground that the director has an
interest respecting the transaction, if it is not a director's
conflicting interest transaction.
(b) A director's conflicting interest transaction may not
be the subject of equitable relief, or give rise to an award of
damages or other relief against a director of the corporation,
in a proceeding by a shareholder or by or in the right of the
corporation, on the ground that the director has an interest
respecting the transaction, if:
(i) Directors' action respecting the transaction was
taken in compliance with W.S. 17-16-862 at any time; or
(ii) Shareholders' action respecting the transaction
was taken in compliance with W.S. 17-16-863 at any time; or
(iii) The transaction, judged according to the
circumstances at the relevant time, is established to have been
fair to the corporation.