Wyoming § 17-19-853 Advance for expenses

Wyoming Statutes

§ 17-19-853 — Advance for expenses

Wyoming § 17-19-853

Title 17Corporations, Partnerships and Associations

Ch. 19WYOMING NONPROFIT CORPORATION ACT

Art. 8DIRECTORS AND OFFICERS

This text of Wyoming § 17-19-853 (Advance for expenses) 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. § 17-19-853 (2026).

Text

(a)A corporation may pay for or reimburse the reasonable expenses incurred by a director who is a party to a proceeding in advance of final disposition of the proceeding if:

(i)The director furnishes the corporation a written undertaking, executed personally or on the director's behalf, to repay the advance if the director is not wholly successful; and

(ii)A determination is made that the facts then known to those making the determination would not preclude indemnification under this subarticle.

(b)The undertaking required by paragraph (a)(i) of this section shall be an unlimited general obligation of the director but need not be secured and may be accepted without reference to financial ability to make repayment.

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(a) A corporation may pay for or reimburse the reasonable
expenses incurred by a director who is a party to a proceeding
in advance of final disposition of the proceeding if:
(i) The director furnishes the corporation a written
undertaking, executed personally or on the director's behalf, to
repay the advance if the director is not wholly successful; and
(ii) A determination is made that the facts then
known to those making the determination would not preclude
indemnification under this subarticle.
(b) The undertaking required by paragraph (a)(i) of this
section shall be an unlimited general obligation of the director
but need not be secured and may be accepted without reference to
financial ability to make repayment.