§ 17-23-106 — Legal proceedings

(a) A statutory trust may sue and be sued in its own name,
and service of process upon any one (1) of the trustees or upon
the registered agent shall be sufficient. A statutory trust may
be sued for debts and other obligations or liabilities
contracted or incurred by the trustees, or by the duly
authorized agents of the trustees, in the performance of their
respective duties under the governing instrument of the
statutory trust, and for any damages to persons or property
resulting from the negligence of the trustees or agents acting
in the performance of their respective duties. The property of a
statutory trust shall be subject to attachment and execution
pursuant to the Wyoming Code of Civil Procedure, as if it were a
corporation.
(b) Notwithstanding the provisions of subsection (a) of
this section, in the event that the governing instrument of a
statutory trust which is a registered investment company under
the Investment Company Act of 1940, as amended, creates one (1)
or more series as provided in W.S. 17-23-108(b)(ii), the debts,
liabilities, obligations and expenses incurred, contracted for
or otherwise existing with respect to a particular series shall
be enforceable against the assets of that series only, and not
against the assets of the statutory trust generally if:
(i) Separate and distinct records are maintained for
the series;
(ii) The assets associated with the series are held
and accounted for separately from the other assets of the
statutory trust, or any other series of that trust; and
(iii) The governing instrument so provides, and
notice of the limitation on liabilities of a series as
referenced in this subsection is set forth in the certificate of
trust of the statutory trust.
(c) A trustee of a statutory trust may be served with
process in the manner prescribed in subsection (d) of this
section in all civil actions or proceedings brought in this
state involving or relating to the activities of the statutory
trust or a violation by a trustee of a duty to the statutory
trust, or any beneficial owner, whether or not the trustee is a
trustee at the time suit is commenced. Every resident or
nonresident of the state who accepts election or appointment or
serves as a trustee of a statutory trust shall, by the
acceptance or service, have consented to the appointment of the
registered agent of the statutory trust required by W.S.
17-23-109 as that person's agent upon whom service of process
may be made as provided in this section. Any process served in
accordance with this section shall be of the same legal force
and validity as if served upon the trustee within the state and
the appointment of the registered agent shall be irrevocable.
(d) Service of process shall be effected by serving a
Wyoming trustee or registered agent of the statutory trust
required by W.S. 17-23-109, with one (1) copy of the process in
the manner provided by law for service of process.
(e) In the governing instrument or other writing, a
trustee may consent to be subject to the nonexclusive
jurisdiction of the courts of, or arbitration in, a specified
jurisdiction, or the exclusive jurisdiction of the courts of, or
the exclusivity of arbitration in, this state, and to be served
with legal process in the manner prescribed in the governing
instrument or other writing.
(f) Nothing in this section limits or affects the right to
serve process in any other manner provided by law. This section
is an extension of and not a limitation upon the right otherwise
existing of service of legal process upon nonresidents.
(g) A partnership, limited partnership, corporation,
limited liability company or other nonnatural person formed or
organized under the laws of any foreign country or other foreign
jurisdiction or the laws of any state other than the state of
Wyoming shall not be deemed to be doing business in the state
solely by reason of its being a trustee of a statutory trust.