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

(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.