2017 Wyoming Statutes
TITLE 17 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS
CHAPTER 18 - WYOMING MANAGEMENT STABILITY ACT
ARTICLE 2 - BONDHOLDER PROTECTION PROVISIONS
SECTION 17-18-203 - Bondholder protection provision; amendments.
17-18-203. Bondholder protection provision; amendments.
(a) At any time any amendment may be made to the bondholder protection provisions with the consent of the percentage of bondholders required for action as stated in the notice of bondholder protection. Such an amendment shall be effective upon filing the bondholder's consent and notice of amendment with the secretary of state. However, the effective date shall be specified in the notice and shall be at least two (2) years and not more than six (6) years after filing the bondholder's consent and notice of the amendment with the secretary of state for amendments which:
(i) Change the time period for revocations to be effective;
(ii) Decrease the percentage of bondholders required for approval of an action;
(iii) Eliminate the requirement of bondholder approval for a specific action; or
(iv) Otherwise decrease the protection available to bondholders.
(b) The bondholder's consent shall be in writing signed by the bondholder or his lawful agent or trustee. Unless otherwise specified in W.S. 17-18-201 through 17-18-206 the consent is valid until revoked by the bondholder. The sale of the bond or debt instrument by the bondholder revokes the consent effective upon notification of the corporation or transfer agent of the sale.
