Wyoming Offer to Purchase Assets of a Corporation

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Multi-State
Control #:
US-02525BG
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Description

A corporation may purchase the assets of another business. This would not be a merger or consolidation. In an acquisition situation, the purchaser does not necessarily become liable for the obligations of the business whose assets are being purchased unless the acquiring corporation agrees to be liable.

Pursuant the Model Business Corporation Act, a sale of all of the assets of a corporation requires approval of the corporation's shareholders if the disposition would leave the corporation without a significant continuing business activity.
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FAQ

Authority to transact business required. (a) A foreign corporation may not transact business in this state until it obtains a certificate of authority from the secretary of state.

17-16-401. Corporate name. (c) A corporation may apply to the secretary of state for authorization to use a name that is not distinguishable upon the secretary of state's records from one (1) or more of the names described in subsection (b) of this section.

Wyoming Sunshine Law The Wyoming Sunshine Lawis a series of laws designed to guarantee that the public has access to public records of government bodies at all levels.

(a) When traffic-control signals are not in place or not in operation, the driver of a vehicle shall yield the right-of-way by slowing down or stopping if need be to yield, to any pedestrian within or entering a crosswalk at either edge of the roadway.

Action without meeting. (a) Unless the articles of incorporation or bylaws provide otherwise, action required or permitted by this act to be taken at a board of directors' meeting may be taken without a meeting if the action is taken by the requisite number of members of the board.

Action without meeting. (a) Unless the articles of incorporation or bylaws provide otherwise, action required or permitted by this act to be taken at a board of directors' meeting may be taken without a meeting if the action is taken by the requisite number of members of the board.

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Wyoming Offer to Purchase Assets of a Corporation