Title 17, Title 17 — Corporations, Partnerships And Associations

Articles of organization. The articles of organization of a close limited liability company shall include a statement that the company is a close limited liability company and shall set forth the matters required by W.S. 17-29-201.

Management. Management of a close limited liability company shall be vested in its members which, unless otherwise provided in the operating agreement, shall be in proportion to the division of profits and losses among members. If provision is made for it in the articles of organ…

Withdrawal of members and return of members' contributions to capital. (a) A member may only withdraw from a close limited liability company upon the terms and conditions set forth in the operating agreement. If no terms and conditions for withdrawal of a member are set forth in …

Dissolution. (a) A close limited liability company organized under this chapter shall be dissolved upon the occurrence of any of the following events: (i) When the period fixed for the duration of the company expires; (ii) By the unanimous written agreement of all members; or (ii…

Sharing of profits and losses; distributions. (a) A close limited liability company may divide and allocate the profits and losses of its business among the members and transferees of the company upon the basis provided in the operating agreement. If the operating agreement does …

Transferability of interest. All interests in a close limited liability company, including transferable interests, shall only be transferred as provided in the operating agreement. If the operating agreement does not so provide, no transfer of a close limited liability company in…