Wyoming Statutory Trust Act

Wyoming · Corporations, Partnerships and Associations · §§ 17-23-101 to 17-23-302 · 24 sections

Overview

The act establishes the statutory trust as a distinct form of unincorporated business entity recognized and governed by state law rather than by common-law trust principles alone. It addresses how such a trust comes into legal existence, the roles and duties of the trustees who manage it, the beneficial interests held by those on whose behalf it is administered, and the extent to which trustees and beneficial owners are shielded from personal liability for the trust's obligations. It further supplies default governance rules that a trust's own governing instrument may in large part displace, together with procedures for amending, restructuring, and terminating the trust.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.

Sections covered

Wyo. Stat. Ann. § 17-23-101Short title
Wyo. Stat. Ann. § 17-23-103Purpose
Wyo. Stat. Ann. § 17-23-104Contributions by beneficial owners
Wyo. Stat. Ann. § 17-23-105Liability of beneficial owners and trustees
Wyo. Stat. Ann. § 17-23-106Legal proceedings
Wyo. Stat. Ann. § 17-23-107Rights of beneficial owners in trust property
Wyo. Stat. Ann. § 17-23-108Management of statutory trust
Wyo. Stat. Ann. § 17-23-109Registered office and registered agent to be maintained
Wyo. Stat. Ann. § 17-23-110CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS › WYOMING STATUTORY TRUST ACT › GENERAL PROVISIONS
Wyo. Stat. Ann. § 17-23-111Failure to maintain registered agent or registered office or pay annual fee
Wyo. Stat. Ann. § 17-23-112Existence of statutory trust
Wyo. Stat. Ann. § 17-23-113Applicability of trust law
Wyo. Stat. Ann. § 17-23-114Certificate of trust; amendment; cancellation
Wyo. Stat. Ann. § 17-23-115Execution of certificate
Wyo. Stat. Ann. § 17-23-116Filing of certificate; effective date; fee; organization
Wyo. Stat. Ann. § 17-23-117Administration; filing, service and copying fees; annual fee
Wyo. Stat. Ann. § 17-23-118Effective time and date of document
Wyo. Stat. Ann. § 17-23-119Reserved name
Wyo. Stat. Ann. § 17-23-120Derivative actions
Wyo. Stat. Ann. § 17-23-121Indemnification
Wyo. Stat. Ann. § 17-23-201Merger and consolidation
Wyo. Stat. Ann. § 17-23-202Continuance of foreign statutory trusts
Wyo. Stat. Ann. § 17-23-301Reserved power of state to amend or repeal chapter
Wyo. Stat. Ann. § 17-23-302Construction and application of chapter and governing instrument

Enacted in other states

Connecticut, Delaware, Maryland

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