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Wyoming · Through 2026 Budget Session; as of 2026-07-01

Wyo. Stat. § 17-19-853: Advance for expenses.

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Where this section sits in the code
  1. TITLE 17 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS
  2. CHAPTER 19 - WYOMING NONPROFIT CORPORATION ACT
  3. ARTICLE 8 - DIRECTORS AND OFFICERS

(a) A corporation may pay for or reimburse the reasonable expenses incurred by a director who is a party to a proceeding in advance of final disposition of the proceeding if:

(i) The director furnishes the corporation a written undertaking, executed personally or on the director's behalf, to repay the advance if the director is not wholly successful; and

(ii) A determination is made that the facts then known to those making the determination would not preclude indemnification under this subarticle.

(b) The undertaking required by paragraph (a)(i) of this section shall be an unlimited general obligation of the director but need not be secured and may be accepted without reference to financial ability to make repayment.

Collected 2026-09-04T00:16:32Z. Source file · JSON

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