Business entities-registered agents.
In one sentence
Not clearly identified in the stored source.
No additional limitations are listed.
Official record
2008 General Session Summary for SF0026 Bill No.: SF0026 Drafter: LGC LSO No.: 08LSO-0025 Effective Date: Enrolled Act No.: <enrnum> Chapter No.: <chptnum> Prime Sponsor: Joint Corporations, Elections and Political Subdivisions Interim Committee Catch Title: Business entities-registered agents. Subject: Transfers statutes providing for registered agents into one section that applies to all business entities and places new restrictions and requirements on registered agents. Summary/Major Elements: The act requires business entities to continuously maintain a registered office which is a physical location where the registered agent of the entity can accept service of process. A registered agent may be an individual, a domestic or foreign business entity if it has a written agreement creating an agency relationship with an individual whereby the individual may accept service of process. The act renumbers statutes providing a process for changing registered offices or registered agents and dealing with the resignation of a registered agent. The act puts the following new requirements on registered agents: o A business entity must provide its registered agent and keep current the name, address and telephone number of a natural person who is an officer, director, employee or designated agent of the entity who is authorized to receive communications from the registered agent; o A registered agent must maintain at its office the following information which must be current within sixty days of any change until the business entity's first annual report and thereafter when the annual report is due: Names and addresses of the business entity's directors, officers, managers, managing partners, trustees or persons serving in a similar capacity; The name, address and phone number of the person designated to receive communications for the entity; and A copy of the contract creating the agency relationship with a natural person for acceptance of service of process. The agent and the entity may agree that the names and addresses required to be maintained may be filed with the secretary of state by the entity instead. A registered agent may also comply with these requirements by requesting the information from the entity and, if the entity does not provide the information, the registered agent notifies the secretary of state and resigns as registered agent of the entity. o Only commercial registered agents need to be registered with the secretary of state. The act defines a commercial registered agent as a person or entity that serves as a registered agent for more than ten business entities. A commercial registered agent may not have been convicted of a felony, have any officer, director, partner, manager or other managing person who was convicted of a felony, may not engage in conduct in connection with acting as a registered agent which is intended to deceive or defraud the public and may not have any officer, director, partner, manager or other managing person who has had their commercial registered agent registration revoked. Comment: Final action on this bill was not taken at the time this summary was prepared. Should changes be made to the bill upon final passage, an updated summary will be transmitted to all legislators.
Public statements
Last checked Aug 11, 6:56 PM
R · S30
Why they voted this way
The speaker opposes concurring with the amendments because removing the requirement for registered agents to contact entities annually renders the bill ineffective against criminal misuse of business entities.
Why they voted this way
The lawmaker opposes the amendment because it removes protections needed to track down responsible parties in fraudulent corporations, citing FBI testimony that investigations often hit dead ends when registered agents lack specific information.
Why they voted this way
The lawmaker opposes the amendment because removing the burden from registered agents to know their clients enables anonymity that allows bad actors to use Wyoming's reputation for fraudulent activities.
Why they voted this way
The lawmaker opposes the amendment by stating it is not an undue burden for registered agents who charge fees to maintain information about their clients, which provides necessary protection in the current environment.
Why they voted this way
The lawmaker opposes the amendment because he believes registered agents have no duty beyond accepting service of process, and imposing extra duties risks terminating that protection for plaintiffs.
Why they voted this way
The lawmaker supports the bill because it addresses worldwide criminal activities using Wyoming corporations, a problem highlighted by the Secretary of State that harms the state's reputation.
R · S25
Why they voted this way
The lawmaker supports the bill because it establishes a known place for service of process and puts a face on corporations, which is necessary to know more about companies using Wyoming's name.
S03
Why they voted this way
The lawmaker opposes the amendment because he believes it imposes extra duties and costs on registered agents without effectively stopping fraudulent practices, arguing instead that requirements should be placed directly on corporations.
R · S30
Why they voted this way
The lawmaker urges defeating the amendment because it is essential for law enforcement to maintain a current trail to locate corporations involved in criminal activity, which requires registered agents to successfully contact them.
Why they voted this way
The lawmaker predicts that honest registered agents will resign from entities they do not personally know due to liability exposure, which would ultimately reduce the number of available agents and hinder service of process.
Wyoming roll calls
9 roll calls
Official activity
Changes
14 stored
Filed 2nd reading by SIMPSON
Adopted 2nd reading by SIMPSON
Failed 2nd reading by SIMPSON
Adopted, Corrected Committee of the Whole by ILLOWAY
Adopted Standing Committee by H07
Withdrawn 3rd reading by PERKINS
Adopted 3rd reading by PERKINS
Failed 3rd reading by PERKINS
Failed 3rd reading by PERKINS
Adopted Committee of the Whole by SCOTT
Filed Standing Committee by CASE
Adopted, Corrected Standing Committee by CASE
Failed Standing Committee by CASE
Adopted Standing Committee by NICHOLAS