Corporations-bearer shares.

AN ACT relating to corporations; prohibiting the issuance of bearer shares; and providing for an effective date.

Elections

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Corporations
Last action: 2007-02-14
Official status: enrolled
Effective date: 7/1/2007

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

HB0009HS001

Standing Committee • H07

Adopted

Plain English: Adopted Standing Committee by H07

This amendment summary is using official source text because generated interpretation was skipped for this run.
The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

Bill History

2007-02-14 LSO
Assigned Chapter Number - 19
2007-02-14 Governor
Governor Signed HEA0007
2007-02-12 Senate
S President Signed HEA No. 0007
2007-02-12 House
H Speaker Signed HEA No. 7
2007-02-09 LSO
Assigned Number HEA0007
2007-02-09 Senate
S Passed 3rd Reading
2007-02-08 Senate
S Passed 2nd Reading
2007-02-07 Senate
S Passed CoW
2007-02-06 Senate
S Placed on General File
2007-02-06 Senate
S07 Recommended Do Pass
2007-01-26 Senate
S Introduced and Referred to S07
2007-01-24 Senate
S Received for Introduction
2007-01-19 House
H Passed 3rd Reading
2007-01-18 House
H Passed 2nd Reading
2007-01-17 House
H Passed CoW
2007-01-17 House
H Amendments Adopted
2007-01-17 House
Amendment Adopted
2007-01-16 House
H Placed on General File
2007-01-16 House
H07 Recommended Amend and Do Pass
2007-01-09 House
H Introduced and Referred to H07
2007-01-09 House
H Received for Introduction
2006-11-27 LSO
Bill Number Assigned

Official Summary Text

2007 General Session Summary for HB0009

Bill No.:
HB0009
Drafter:

LGC

LSO No.:
07LSO-0155
Effective Date:

7/1/2007

Enrolled Act No.:
HEA0007

Chapter No.:
19

Prime Sponsor:
Joint Corporations, Elections and Political
Subdivisions Interim Committee

Catch Title:
Corporations-bearer
shares.

Subject:
Corporations
share certificate requirements.

Summary/Major Elements:

The act prohibits
corporations from issuing shares in bearer form, i.e., a form in which the
certificate is payable to the bearer of the certificate without endorsement.

The act requires corporations
to conform any shares outstanding by October 1, 2007.

Current Bill Text

Read the full stored bill text

WORKING DRAFT

ORIGINAL HOUSE

BILL

NO.
0009

ENROLLED ACT NO. 7, HOUSE OF REPRESENTATIVES

FIFTY-NINTH LEGISLATURE OF THE STATE OF WYOMING
2007 GENERAL SESSION

AN ACT relating to corporations; prohibiting the issuance of bearer shares; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.

W.S. 17
‑
16
‑
625 by creating a new subsection (f) is amended to read:

17
‑
16
‑
625.

Form and content of certificates.

(f)

In no case shall a corporation issue share certificates in bearer form. For purposes of this subsection "bearer form" means a form in which the certificate is payable to the bearer of the certificate according to its terms but not by reason of an endorsement.
If a corporation formed under this act or qualified to do business under this act has bearer shares outstanding, the entity shall conform those shares to comply with this section on or before October 1, 2007. Failure to do so shall be prima facie evidence of an ultra vires act pursuant to W.S. 17
‑
16
‑
304.

Section 2.

This act is effective July 1, 2007.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the House.

Chief Clerk

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