§ 17-18-308 — Rights of dissenters; "fair value" defined

Wyoming § 17-18-308

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

Text

(a) A shareholder of the issuing public corporation, other
than the acquiring person, who does not vote in favor of the
control share acquisition may dissent from any proposal to
accord voting rights to the control shares over which voting
power was or is to be acquired in the control share acquisition.
Each shareholder dissenting from the proposal is entitled to
receive the fair value of the shareholder's shares under W.S.
17-16-1301 through 17-16-1331 if the control shares acquired or
to be acquired in the control share acquisition are accorded
voting rights under W.S. 17-18-306 and the acquiring person has
or is authorized to have a majority of all voting power.
(b) For purposes of this section, the fair value to be
paid for a share of a dissenting shareholder may not be less
than the highest price paid for a share by the acquiring person
in the control share acquisition.
(c) The provisions of this section shall not apply to a
control share acquisition to which the provisions of this
article otherwise apply if, at the time the issuing public
corporation receives an acquiring person statement with respect
to the control share acquisition, the articles of incorporation
or bylaws of the issuing public corporation contain a provision
expressly electing not to be governed by this section.