Wyoming § 17-29-401 Becoming a member

Wyoming Statutes

§ 17-29-401 — Becoming a member

Wyoming § 17-29-401

Title 17Corporations, Partnerships and Associations

Ch. 29WYOMING LIMITED LIABILITY COMPANY ACT

Art. 4RELATIONS OF MEMBERS TO EACH OTHER AND TO THE

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Bluebook

Wyo. Stat. Ann. § 17-29-401 (2026).

Text

(a)If a limited liability company is to have only one (1) member upon formation, the person becomes a member as determined by that person and the organizer of the company. That person and the organizer may be, but need not be, different persons. If different, the organizer acts on behalf of the initial member.

(b)If a limited liability company is to have more than one (1) member upon formation, those persons become members as agreed by them. The organizer acts on behalf of the persons in forming the company and may be, but need not be, one of the persons.

(c)Reserved.

(d)After formation of a limited liability company, a person becomes a member:

(i)As provided in the operating agreement;

(ii)As the result of a transaction effective under article 10 of this chapter;

(iii)With the cons

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(a) If a limited liability company is to have only one (1)
member upon formation, the person becomes a member as determined
by that person and the organizer of the company. That person
and the organizer may be, but need not be, different persons.
If different, the organizer acts on behalf of the initial
member.
(b) If a limited liability company is to have more than
one (1) member upon formation, those persons become members as
agreed by them. The organizer acts on behalf of the persons in
forming the company and may be, but need not be, one of the
persons.
(c) Reserved.
(d) After formation of a limited liability company, a
person becomes a member:
(i) As provided in the operating agreement;
(ii) As the result of a transaction effective under
article 10 of this chapter;
(iii) With the consent of all the members; or
(vi) If, within ninety (90) consecutive days after
the company ceases to have any members:
(A) The last person to have been a member, or
the legal representative of that person, designates a person to
become a member; and
(B) The designated person consents to become a
member.
(e) A person may become a member without acquiring a
transferable interest and without making or being obligated to
make a contribution to the limited liability company.