Wyo. Stat. Ann. § 17-29-603

Effect of person's dissociation as member

Known as the Wyoming Limited Liability Company Act

The act spans §§ 17-29-1001 to 17-29-906 (80 sections).

Applied in 1 court decision — leading case John A. Mccall, Jr. v. Best of the West Productions, Llc, a Wyoming Limited Liability Company; Huskemaw Optics, Llc, a Wyoming Limited Liability Company; Jack Peterson, Individually and as Manager of Best of the West Productions, Llc; and Botw Holdings, Llc, a Wyoming Limited Liability Company (2026)

Most recently applied in John A. Mccall, Jr. v. Best of the West Productions, Llc, a Wyoming Limited Liability Company; Huskemaw Optics, Llc, a Wyoming Limited Liability Company; Jack Peterson, Individually and as Manager of Best of the West Productions, Llc; and Botw Holdings, Llc, a Wyoming Limited Liability Company (February 2026)

(a) When a person is dissociated as a member of a limited liability company:

(i) The person's right to participate as a member in the management and conduct of the company's activities terminates;

(ii) If the company is member-managed, the person's fiduciary duties as a member end with regard to matters arising and events occurring after the person's dissociation; and (iii) Subject to W.S. 17-29-504 and article 10 of this chapter, any transferable interest owned by the person immediately before dissociation in the person's capacity as a member is owned by the person solely as a transferee.

(b) A person's dissociation as a member of a limited liability company does not of itself discharge the person from any debt, obligation or other liability to the company or the other members which the person incurred while a member.

Official source: Wyoming Legislature. Reproduced from public-domain Wyoming statutes; confirm against the official source for the current text. Not legal advice.