{"data":{"id":"us-wy/wyo.-stat.-17-30-506","jurisdiction":"us-wy","citation":"Wyo. Stat. § 17-30-506","heading":"Conflict of interest transactions.","body":"(a) A sale, encumbrance or other transaction involving the investment or management of the property of the statutory foundation which is entered into by a director or protector for the personal account of the director or protector or which is otherwise affected by a conflict between the fiduciary or personal interests of the director or protector is voidable by a beneficiary affected by the transaction unless:\n(i) The transaction was authorized by the terms of the operating agreement;\n(ii) The transaction was approved by a court;\n(iii) The beneficiary did not commence a judicial proceeding within the time specified by W.S. 4-10-1005;\n(iv) The beneficiary consented to the transaction, ratified the transaction or released the director or protector pursuant to W.S. 4-10-1009; or\n(v) The transaction involves a contract entered into, or claim acquired by the director or protector, before the person became or contemplated becoming a director or protector.","path":["TITLE 17 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS","CHAPTER 30 - WYOMING STATUTORY FOUNDATION ACT","ARTICLE 5 - DIRECTORS AND PROTECTORS"],"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":"106ea4a74f84896476817c3ff9ee1b343462258b2190ba65e8cc6d862ecd836d","source_id":"us-wy","stale":false,"prev":"us-wy/wyo.-stat.-17-30-505","next":"us-wy/wyo.-stat.-17-30-601"},"notice":"GroundRules: Original legal text. Not legal advice."}