Wyoming § 17-17-113 Attempted share transfer in breach of
prohibition

Wyoming Statutes

§ 17-17-113 — Attempted share transfer in breach of prohibition

Wyoming § 17-17-113

Title 17Corporations, Partnerships and Associations

Ch. 17CLOSE CORPORATION SUPPLEMENT

Art. 1PROVISIONS

This text of Wyoming § 17-17-113 (Attempted share transfer in breach of prohibition) 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. § 17-17-113 (2026).

Text

(a)An attempt to transfer shares in a statutory close corporation in violation of a prohibition against transfer binding on the transferee is ineffective.

(b)An attempt to transfer shares in a statutory close corporation in violation of a prohibition against transfer that is not binding on the transferee, either because the notice required by W.S. 17-17-110 was not given or because the prohibition is held unenforceable by a court, gives the corporation an option to purchase the shares from the transferee for the same price and on the same terms that he purchased them. To exercise its option, the corporation must give the transferee written notice within thirty (30) days after they are presented for registration in the transferee's name. The corporation may specifically enforce the transf

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(a) An attempt to transfer shares in a statutory close
corporation in violation of a prohibition against transfer
binding on the transferee is ineffective.
(b) An attempt to transfer shares in a statutory close
corporation in violation of a prohibition against transfer that
is not binding on the transferee, either because the notice
required by W.S. 17-17-110 was not given or because the
prohibition is held unenforceable by a court, gives the
corporation an option to purchase the shares from the transferee
for the same price and on the same terms that he purchased them.
To exercise its option, the corporation must give the transferee
written notice within thirty (30) days after they are presented
for registration in the transferee's name. The corporation may
specifically enforce the transferee's sale obligation upon
exercise of its purchase option.