§ 17-18-306 — Voting rights; resolution

Wyoming § 17-18-306

• Jurisdiction: Wyoming
• Title 17: Corporations, Partnerships and Associations
• Ch. 18: WYOMING MANAGEMENT STABILITY ACT
• Art. 3: CONTROL SHARE ACQUISITIONS

Text

(a) Control shares acquired in a control share acquisition
have the same voting rights accorded the shares before the
control share acquisition only to the extent granted by
resolution approved by the shareholders of the issuing public
corporation.
(b) The resolution required by subsection (a) of this
section shall be approved both by a majority of:
(i) All outstanding voting shares, including
interested shares; and
(ii) All outstanding shares, excluding interested
shares.
(c) In addition to the vote required by subsection (b) of
this section, in the event the holders of the outstanding shares
of a class are entitled to vote as a separate voting group and
the proposed control share acquisition would, if fully carried
out, result in any of the changes described in W.S.
17-16-1004(a), the resolution required by subsection (a) of this
section shall be approved both by:
(i) Each voting group entitled to vote separately on
a proposal by a majority of all votes entitled to be cast by
that voting group, including all interested shares; and
(ii) Each voting group entitled to vote separately on
a proposal by a majority vote of all the votes entitled to be
cast by that voting group excluding all interested shares.