2019 Wyoming Statutes
Title 17 - Corporations, Partnerships and Associations
Chapter 30 - Wyoming Statutory Foundation Act
Article 9 - Termination
Section 17-30-904 - Administrative Forfeiture of Authority and Articles of Formation.
17-30-904. Administrative forfeiture of authority and articles of formation.
(a) If the registered agent of the statutory foundation has filed its resignation with the secretary of state and the foundation has not replaced its registered agent, or the statutory foundation is without a registered agent or registered office in this state for any reason, the foundation shall be deemed to be operating in this state without authority and to have forfeited any rights or privileges acquired under the laws of this state.
(b) A forfeiture under subsection (a) of this section shall be made effective as follows:
(i) The secretary of state shall mail by first class mail, or submit by electronic means if the statutory foundation has consented to receive notices electronically, a notice of the failure of the statutory foundation to comply with subsection (a) of this section; and
(ii) Unless compliance is made within sixty (60) days of mailing or electronic submission, the statutory foundation shall be deemed defunct and to have forfeited its articles of formation filed in this state.
(c) A statutory foundation, at any time within two (2) years after a forfeiture under subsection (a) or (b) of this section, may be revived and reinstated by filing the necessary statement under this act and paying a reinstatement fee established by the secretary of state by rule, together with a penalty of two hundred fifty dollars ($250.00). A reinstatement fee under this subsection shall not exceed the costs of providing the reinstatement service. The foundation shall retain its registered name during the two (2) year reinstatement period under this section.
(d) If a statutory foundation has failed to pay any fee required by the secretary of state under W.S. 17-30-704 or any penalties imposed under W.S. 17-28-109, the statutory foundation shall be deemed to be operating within this state without authority and to have forfeited any rights or privileges acquired under the laws of this state.
(e) A forfeiture under subsection (d) of this section shall be made effective as follows:
(i) The secretary of state shall provide notice to the statutory foundation at its last known mailing address by first class mail, or submit by electronic means if the statutory foundation has consented to receive notices electronically, a notice of the failure of the statutory foundation to comply; and
(ii) Unless compliance is made within sixty (60) days of the date of mailing of the notice, the statutory foundation shall be deemed defunct and to have forfeited its articles of formation filed in this state.
(f) A statutory foundation, at any time within two (2) years after a forfeiture under subsection (d) of this section, may be revived and reinstated by paying the delinquent fees.
(g) Upon reinstatement of a statutory foundation under this section, the reinstatement shall relate back to and take effect as of the date the forfeiture was made effective under this section and the statutory foundation may resume carrying on operations as if the forfeiture was never effective.
(h) A statutory foundation shall be deemed to be operating within this state without authority, to have forfeited any rights or privileges acquired under the laws of this state and shall be deemed to have forfeited its articles of formation filed in this state if:
(i) An organizer, founder or any other person authorized to act on behalf of the foundation signed a document he knew was false in any material respect with intent that the document be delivered to the secretary of state for filing;
(ii) The statutory foundation has failed to respond to a valid subpoena; or
(iii) The public interest is served by forfeiture and the statutory foundation, its founder or any other person authorized to act on behalf of the statutory foundation:
(A) Failed to provide records to the registered agent as required by this act;
(B) Provided fraudulent information or failed to correct false information upon request of the secretary of state on any filing under this act;
(C) Cannot be served by either the registered agent or by the secretary of state using mail and acting as the agent for process.
(j) The secretary of state may classify a statutory foundation as delinquent and as awaiting forfeiture of its articles of formation at the time the secretary of state mails any notice required under this section to the foundation.
