Wyoming Clauses Relating to Venture Ownership Interests
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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.
As of 2018, the following 31 states had adopted the new rule: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Florida,
Because the Rule Against Perpetuities is state law, states have the option of relaxing or eliminating its constraints. While Wyoming has not abolished the Rule Against Perpetuities, it does allow Trusts to last one thousand (1,000) years.
This additional filing fee is equal to the fee paid to file Articles of Organization with the Secretary. Wyoming is one of the few states that allows Series LLCs. You may also form Close Series LLCs as well. This is a cost effective, but relatively new, manner in which to form many companies at once.
In 2003, Wyoming's legislature adopted the Uniform Trust Code (UTC) with the intention of modernizing the state's trust laws.
Waiver; agreement to forego rights; settlement of claims; legal rate of interest; applicability. (a) Except as otherwise provided in this act, a buyer, lessee, or debtor may not waive or agree to forego rights or benefits under this act.
A Wyoming asset protection trust allows you to protect assets without losing control, naming third party beneficiaries or moving assets to an offshore trust. This protects you from lawsuits, creditors, divorces, the government and plain bad luck. Wyoming trust law is flexible and allows for a variety of trusts.
The lives selected to govern the time of vesting must not be so numerous nor so situated that evidence of their deaths is likely to be unreasonably difficult to obtain. It is intended by this subsection to make effective in this state the American common-law rule against perpetuities for interests in real property.