§ 17-30-201 — Nature, purpose and duration of statutory foundations

(a) A statutory foundation shall be an entity distinct
from its founders, contributors, beneficiaries and any other
persons.
(b) Unless stated otherwise in the articles of formation,
a statutory foundation has perpetual duration.
(c) Except for those purposes provided in subsection (e)
of this section, a statutory foundation may be created for any
lawful purpose, whether the statutory foundation is for profit
or for charitable purposes, as defined in W.S. 17-30-102(a)(v).
(i) Repealed by Laws 2021, ch. 98, § 2.
(ii) Repealed by Laws 2021, ch. 98, § 2.
(d) In addition to those purposes provided in subsection
(c) of this section, a statutory foundation may be organized for
the purpose of holding or investing in other entities or assets,
including those entities or assets that are the property of the
statutory foundation.
(e) A statutory foundation may not be created to act as a
financial institution or an insurer, as defined in W.S. 26-1-
102(a)(xvi).
(f) The purpose of a statutory foundation shall not be
amended or restated unless the articles of formation expressly
provide that the purpose of the statutory foundation "may be
amended," "may be restated" or include words of similar import
or unless an amendment or restatement is required pursuant to a
court order.