Wyoming § 17-16-833 Director's liability for unlawful
distributions

Wyoming Statutes

§ 17-16-833 — Director's liability for unlawful distributions

Wyoming·Title 17 Corporations, Partnerships and Associations·Ch. 16 WYOMING BUSINESS CORPORATION ACT·Art. 8 DIRECTORS AND OFFICERS

(a)A director who votes for or assents to a distribution in excess of what may be authorized and made pursuant to W.S. 17-16-640 or 17-16-1409(a) is personally liable to the corporation for the amount of the distribution that exceeds what could have been distributed without violating W.S. 17-16-640 or 17-16-1409(a) if the party asserting liability establishes that when taking the action the director did not comply with W.S.

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(a) A director who votes for or assents to a distribution
in excess of what may be authorized and made pursuant to W.S.
17-16-640 or 17-16-1409(a) is personally liable to the
corporation for the amount of the distribution that exceeds what
could have been distributed without violating W.S. 17-16-640 or
17-16-1409(a) if the party asserting liability establishes that
when taking the action the director did not comply with W.S.

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