Wyoming § 17-17-131 Termination of statutory close corporation
status

Wyoming Statutes

§ 17-17-131 — Termination of statutory close corporation status

Wyoming § 17-17-131

Title 17Corporations, Partnerships and Associations

Ch. 17CLOSE CORPORATION SUPPLEMENT

Art. 1PROVISIONS

This text of Wyoming § 17-17-131 (Termination of statutory close corporation status) 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. § 17-17-131 (2026).

Text

(a)A statutory close corporation may terminate its statutory close corporation status by amending its articles of incorporation to delete the statement that it is a statutory close corporation. If the statutory close corporation has elected to operate without a board of directors under W.S. 17-17-121, the amendment must either comply with W.S. 17-16-801 or delete the statement dispensing with the board of directors from its articles of incorporation.

(b)An amendment terminating statutory close corporation status 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 corporation, voting as separate voting groups, whether or not the holders are otherwise entitled to vote on amendments.

(c)If an amendment to terminate statutory cl

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(a) A statutory close corporation may terminate its
statutory close corporation status by amending its articles of
incorporation to delete the statement that it is a statutory
close corporation. If the statutory close corporation has
elected to operate without a board of directors under W.S.
17-17-121, the amendment must either comply with W.S. 17-16-801
or delete the statement dispensing with the board of directors
from its articles of incorporation.
(b) An amendment terminating statutory close corporation
status 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
corporation, voting as separate voting groups, whether or not
the holders are otherwise entitled to vote on amendments.
(c) If an amendment to terminate statutory close
corporation status is adopted, each shareholder who voted
against the amendment is entitled to assert dissenters' rights
under W.S. 17-16-1301 through 17-16-1331.