§ 17-30-103 — Governing law

Wyoming § 17-30-103

• Jurisdiction: Wyoming
• Title 17: Corporations, Partnerships and Associations
• Ch. 30: WYOMING STATUTORY FOUNDATION ACT
• Art. 1: GENERAL PROVISIONS

Text

(a) This act governs:
(i) The internal affairs of a statutory foundation;
and
(ii) The liability of a person as a founder or
contributor of a statutory foundation for the debts, obligations
or other liabilities of a statutory foundation.
(b) The transfer of property by a founder or a contributor
to the statutory foundation, or any disposition made subject to
the terms of the operating agreement of the statutory
foundation, shall not be void, voidable, set aside or defective
in any manner for any reason, including the following:
(i) The law of a foreign jurisdiction prohibits or
does not recognize the concept of a statutory foundation; or
(ii) The statutory foundation, a transfer of property
by a founder or a contributor to a foundation or a disposition
made subject to the terms of the operating agreement of the
statutory foundation avoids or defeats any forced heirship or
legitime right, claim or interest under the law of a foreign
jurisdiction.