§ 17-23-105 — Liability of beneficial owners and trustees

Wyoming § 17-23-105

• Jurisdiction: Wyoming
• Title 17: Corporations, Partnerships and Associations
• Ch. 23: WYOMING STATUTORY TRUST ACT
• Art. 1: GENERAL PROVISIONS

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(a) Except to the extent otherwise provided in the
governing instrument, the beneficial owner shall be entitled to
any limitations of personal liability extended to shareholders
of private corporations for profit organized under the Wyoming
Business Corporation Act or extended to members of limited
liability companies organized under the Wyoming Limited
Liability Company Act.
(b) Except to the extent otherwise provided in the
governing instrument, a trustee, when acting in that capacity,
shall not be personally liable to any persons other than the
statutory trust or a beneficial owner for any act, omission or
obligation of the statutory trust or any trustee.
Notwithstanding the provisions of W.S. 17-23-113, trustees of a
statutory trust shall not be held to a more rigorous standard of
care than that imposed upon directors of a business corporation
under the Wyoming Business Corporation Act.