Wyoming § 17-18-202 Bondholder protection provision; adoption
requirements; revocation

Wyoming Statutes

§ 17-18-202 — Bondholder protection provision; adoption requirements; revocation

Wyoming § 17-18-202

Title 17Corporations, Partnerships and Associations

Ch. 18WYOMING MANAGEMENT STABILITY ACT

Art. 2BONDHOLDER PROTECTION PROVISIONS

This text of Wyoming § 17-18-202 (Bondholder protection provision; adoption requirements; revocation) 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. § 17-18-202 (2026).

Text

(a)The corporation utilizes a bondholder protection provision by adopting and filing with the secretary of state a notice of bondholder protection as provided in this section.

(b)The notice of bondholder protection shall specify the percentage of bondholders whose consent is required for any action on that protection. The percentage may be different for different purposes. The percentage shall be not less than fifty percent (50%) nor greater than ninety percent (90%). The percentage shall be a percentage of the value at maturity of the bonds or other debt instruments issued and outstanding.

(c)Notices of bondholder protection shall be approved by the corporation in the same manner as changes in corporate bylaws except that the articles of incorporation may specify a different manner of

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(a) The corporation utilizes a bondholder protection
provision by adopting and filing with the secretary of state a
notice of bondholder protection as provided in this section.
(b) The notice of bondholder protection shall specify the
percentage of bondholders whose consent is required for any
action on that protection. The percentage may be different for
different purposes. The percentage shall be not less than fifty
percent (50%) nor greater than ninety percent (90%). The
percentage shall be a percentage of the value at maturity of the
bonds or other debt instruments issued and outstanding.
(c) Notices of bondholder protection shall be approved by
the corporation in the same manner as changes in corporate
bylaws except that the articles of incorporation may specify a
different manner of approval. The notices shall be filed with
the trustee or transfer agent, if any, for the bonds and with
the secretary of state. The notice filed with the secretary of
state shall be accompanied by the administrative fee specified
by regulation to recover the administrative costs of the state
of Wyoming. The notice shall be effective as of the date of
filing with the secretary of state. The corporation shall send
to each known bondholder by first class mail either the full
notice of bondholder protection or a summary of the notice and
information as to how the full notice may be obtained from the
company. This notice to the bondholders shall be given no later
than the due date of the first interest payment due more than
thirty (30) days after the bondholder protection notice is filed
with the secretary of state and may be included with the mailing
of the interest payment.
(d) Bondholder protections may be revoked by the
corporation in the same manner that notices of bondholder
protection are issued and filed except that the revocation is
effective as of a date specified in the notice filed with the
secretary of state. The effective date shall be at least two
(2) years and not more than six (6) years after filing the
notice of revocation with the secretary of state.