Wyoming § 17-19-1806 Transition of for profit corporations to
nonprofit status

Wyoming Statutes

§ 17-19-1806 — Transition of for profit corporations to nonprofit status

Wyoming·Title 17 Corporations, Partnerships and Associations·Ch. 19 WYOMING NONPROFIT CORPORATION ACT·Art. 18 TRANSITION PROVISIONS

(a)Any corporation as defined by W.S. 17-16-140 and incorporated under the Wyoming Business Corporation Act may become a corporation pursuant to this act by filing amended articles of incorporation complying with this act if:

(i)The corporation is or determines to become upon filing the amended articles of incorporation, a public benefit, mutual benefit or religious corporation;

(ii)All shareholders are entitled to the same notice and rights of dissent provided under W.S. 17-16-1320 through 17-16-1331 and notice of any known tax consequences under the Internal Revenue Code;

(iii)All shareholders in a business corporation which is or becomes a mutual benefit corporation shall become members entitled to a number of votes, rights to benefits and unequal obligations for assessments and rig

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(a) Any corporation as defined by W.S. 17-16-140 and
incorporated under the Wyoming Business Corporation Act may
become a corporation pursuant to this act by filing amended
articles of incorporation complying with this act if:
(i) The corporation is or determines to become upon
filing the amended articles of incorporation, a public benefit,
mutual benefit or religious corporation;
(ii) All shareholders are entitled to the same notice
and rights of dissent provided under W.S. 17-16-1320 through
17-16-1331 and notice of any known tax consequences under the
Internal Revenue Code;
(iii) All shareholders in a business corporation
which is or becomes a mutual benefit corporation shall become
members entitled to a number of votes, rights to benefits and
unequal obligations for assessments and rights upon dissolution
in proportion to their number of shares at the time of filing
the amended articles of incorporation, unless the amended
articles of incorporation provide otherwise;
(iv) The transition to nonprofit status shall not
impair any obligations or liabilities to others existing at the
time of the transition.

Wyoming § 17-19-1806 (Transition of for profit corporations to nonprofit status) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.