{"data":{"id":"us-wy/wyo.-stat.-17-29-502","jurisdiction":"us-wy","citation":"Wyo. Stat. § 17-29-502","heading":"Transfer of transferable interest.","body":"(a) A transfer, in whole or in part, of a transferable interest:\n(i) Is permissible;\n(ii) Except as otherwise provided in this chapter, does not by itself cause a member's dissociation or a dissolution and winding up of the limited liability company's activities; and\n(iii) Subject to W.S. 17-29-504, does not entitle the transferee to:\n(A) Participate in the management or conduct of the company's activities; or\n(B) Except as otherwise provided in subsection (c) of this section, have access to records or other information concerning the company's activities.\n(b) A transferee has the right to receive, in accordance with the transfer, distributions to which the transferor would otherwise be entitled.\n(c) In a dissolution and winding up of a limited liability company, a transferee is entitled to an account of the company's transactions only from the date of dissolution.\n(d) A transferable interest may be evidenced by a certificate of the interest issued by the limited liability company in a record, and, subject to this section, the interest represented by the certificate may be transferred by a transfer of the certificate.\n(e) A limited liability company need not give effect to a transferee's rights under this section until the company has notice of the transfer.\n(f) A transfer of a transferable interest in violation of a restriction on transfer contained in the operating agreement is ineffective as to a person having notice of the restriction at the time of transfer.\n(g) Except as otherwise provided in W.S. 17-29-602(a)(iv)(B), when a member transfers a transferable interest, the transferor retains the rights of a member other than the interest in distributions transferred and retains all duties and obligations of a member.\n(h) When a member transfers a transferable interest to a person that becomes a member with respect to the transferred interest, the transferee is liable for the member's obligations under W.S. 17-29-403 and 17-29-406(c) known to the transferee when the transferee becomes a member.","path":["TITLE 17 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS","CHAPTER 29 - WYOMING LIMITED LIABILITY COMPANY ACT","ARTICLE 5 - TRANSFERABLE INTERESTS AND RIGHTS OF TRANSFEREES"],"source_url":"https://wyoleg.gov/statutes/compress/title17.pdf","current_through":"2026 Budget Session; as of 2026-07-01","vintage":"","retrieved_at":"2026-09-04T00:16:32Z","sha256":"cf4f7988320bb8cec612b7a83f44a1d10417cbd1643830829b29824a708a5764","source_id":"us-wy","stale":false,"prev":"us-wy/wyo.-stat.-17-29-501","next":"us-wy/wyo.-stat.-17-29-503"},"notice":"GroundRules: Original legal text. Not legal advice."}