Section 17-11-112 – Depository of Funds.
17-11-112. Depository of funds. The corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of any director who is an officer or director […]
Section 17-11-113 – Examination by Director; Reports.
17-11-113. Examination by director; reports. The corporation shall be examined at least once annually by the director of the state department of audit or his designee and shall make reports of its condition annually to director, who in turn shall make copies of such reports available to the governor; and the corporation shall also furnish […]
Section 17-11-114 – First Meeting.
17-11-114. First meeting. (a) The first meeting of the corporation shall be called by a notice signed by three (3) or more of the incorporators, stating the time, place, and purpose of the meeting, a copy of which notice shall be mailed or delivered to each incorporator at least five (5) days before the day […]
Section 17-11-115 – Perpetual Existence.
17-11-115. Perpetual existence. The period of existence of the corporation shall be perpetual, subject to the right of the shareholders and the members to dissolve the corporation prior to the expiration of said period as provided in W.S. 17-11-116.
Section 17-11-116 – Dissolution.
17-11-116. Dissolution. The corporation may upon the affirmative vote of two-thirds (2/3) of the votes to which the shareholders shall be entitled and two-thirds (2/3) of the votes to which the members shall be entitled to dissolve said corporation. Upon any dissolution of the corporation, none of the corporation’s assets shall be distributed to the […]
Section 17-11-117 – Corporations Designated “State Development Companies” for Purposes of Federal Law.
17-11-117. Corporations designated “state development companies” for purposes of federal law. Any corporation organized under the provisions of this act shall be a state development company, as defined in the Small Business Investment Act of 1958, Public Law 85-699, 85th Congress, or any similar federal legislation, and shall be authorized to operate on a statewide […]
Section 17-11-118 – Exemption From Securities Registration.
17-11-118. Exemption from securities registration. Corporations organized under the provisions of this act shall be exempt from registration under, or compliance with, the Wyoming Uniform Securities Act, W.S. 17-4-101 through 17-4-701.
Section 17-11-119 – Tax Exemptions, Credits or Privileges.
17-11-119. Tax exemptions, credits or privileges. Any tax exemptions, tax credits, or tax privileges granted to banks, savings and loan associations, trust companies, and other financial institutions by any general laws are granted to corporations organized pursuant to this act.
Section 17-11-120 – Filing Fees.
17-11-120. Filing fees. Corporations organized for profit under the provisions of this act shall pay the filing fees required by W.S. 17-16-122 and 17-16-1630, and nonprofit corporations shall pay the filing fees required by W.S. 17-19-122 and 17-19-1630.
Section 17-11-110 – Board of Directors.
17-11-110. Board of directors. (a) The business and affairs of the corporation shall be managed and conducted by a board of directors, which shall consist of not less than five (5) nor more than seven (7) members. One (1) member of the board shall be the chief executive officer of the Wyoming business council or […]