Wyoming § 17-17-114 Compulsory purchase of shares after death of
shareholder

Wyoming Statutes

§ 17-17-114 — Compulsory purchase of shares after death of shareholder

Wyoming § 17-17-114

Title 17Corporations, Partnerships and Associations

Ch. 17CLOSE CORPORATION SUPPLEMENT

Art. 1PROVISIONS

This text of Wyoming § 17-17-114 (Compulsory purchase of shares after death of shareholder) 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. § 17-17-114 (2026).

Text

(a)This section, and W.S. 17-17-115 through 17-17-117, apply to a statutory close corporation only if so provided in its articles of incorporation. If these sections apply, the personal representative of the estate or the surviving joint tenant of a deceased shareholder may require the corporation to purchase or cause to be purchased all, but not less than all, of the decedent's shares or jointly owned shares or to be dissolved.

(b)The provisions of W.S. 17-17-115 through 17-17-117 may be modified only if the modification is set forth or referred to in the articles of incorporation.

(c)An amendment to the articles of incorporation to provide for application of W.S. 17-17-115 through 17-17-117, or to modify or delete the provisions of these sections, must be approved by the holders of at

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(a) This section, and W.S. 17-17-115 through 17-17-117,
apply to a statutory close corporation only if so provided in
its articles of incorporation. If these sections apply, the
personal representative of the estate or the surviving joint
tenant of a deceased shareholder may require the corporation to
purchase or cause to be purchased all, but not less than all, of
the decedent's shares or jointly owned shares or to be
dissolved.
(b) The provisions of W.S. 17-17-115 through 17-17-117 may
be modified only if the modification is set forth or referred to
in the articles of incorporation.
(c) An amendment to the articles of incorporation to
provide for application of W.S. 17-17-115 through 17-17-117, or
to modify or delete the provisions of these sections, must be
approved by the holders of at least two-thirds (2/3) of the
votes of each class or series of shares of the statutory close
corporation, voting as separate voting groups, whether or not
otherwise entitled to vote on amendments. If the corporation
has no shareholders when the amendment is proposed, it must be
approved by at least two-thirds (2/3) of the subscribers for
shares, if any, or, if none, by all of the incorporators.
(d) A shareholder who votes against an amendment to modify
or delete the provisions of W.S. 17-17-115 through 17-17-117 is
entitled to dissenters' rights under W.S. 17-16-1301 through
17-16-1331 if the amendment upon adoption terminates or
substantially alters his existing rights under these sections to
have his shares purchased.
(e) A shareholder may waive his and his estate's rights
under W.S. 17-17-115 through 17-17-117 by a signed writing.
(f) W.S. 17-17-115 through 17-17-117 do not prohibit any
other agreement providing for the purchase of shares upon a
shareholder's death, nor do they prevent a shareholder from
enforcing any remedy he has independent of these sections.