HB0098 • 2017

LLC-dissolution distributions.

AN ACT relating to limited liability companies; clarifying that winding up distributions shall be paid in money or other property; and providing for an effective date.

Enacted

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

Sponsor: Representative Greear
Last action: 2017-03-06
Official status: enrolled
Effective date: 7/1/2017

Plain English Breakdown

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

Bill History

2017-03-06 Governor
Governor Signed HEA No. 0059
2017-03-06 LSO
Assigned Chapter Number
2017-02-27 Senate
S President Signed HEA No. 0059
2017-02-24 House
H Speaker Signed HEA No. 0059
2017-02-23 LSO
Assigned Number HEA No. 0059
2017-02-23 Senate
S 3rd Reading:Passed 30-0-0-0-0
2017-02-22 Senate
S 2nd Reading:Passed
2017-02-21 Senate
S COW:Passed
2017-02-16 Senate
S Placed on General File
2017-02-16 Senate
S07 - Corporations:Recommend Do Pass 4-0-1-0-0
2017-02-06 Senate
S Introduced and Referred to S07 - Corporations
2017-01-27 Senate
S Received for Introduction
2017-01-27 House
H 3rd Reading:Passed 57-0-3-0-0
2017-01-26 House
H 2nd Reading:Passed
2017-01-25 House
H COW:Passed
2017-01-23 House
H Placed on General File
2017-01-23 House
H09 - Minerals:Recommend Do Pass 9-0-0-0-0
2017-01-18 House
:Rerefer to H09 - Minerals
2017-01-12 House
H Introduced and Referred to H07 - Corporations
2017-01-09 House
H Received for Introduction
2017-01-07 LSO
Bill Number Assigned

Official Summary Text

Bill Summary

Bill No.:
HB0098
Effective
:
7/1/2017

LSO No.:
17LSO-0192

Enrolled Act No.:
HEA No. 0059

Chapter No.:
93

Prime Sponsor:
Greear

Catch Title:
LLC-dissolution distributions.

Subject:
Distribution of assets in winding up
a
limited liability company's activities
.

Summary/Major Elements:

This bill amends existing law to specify that upon dissolution,
after discharging obligations to creditors,
a
limited liability co
mpany may

distribute

any surplus
in
the form of
money or other property
.

Previously
,
the law only allowed for distributions
to be
paid in money.

NOTE: 2017 SENATE FILE 100 REPEALS THE STATUTORY PROVISION THIS BILL AMENDS,
W.S. 17-29-
708(d)
. The result is the same: there is no longer a requirement for distributions to be paid only in money.
The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill
.

Current Bill Text

Read the full stored bill text

ORIGINAL
House
Bill No
.
HB0098

ENROLLED ACT NO. 59,

HOUSE OF REPRESENTATIVES

SIXTY-FOURTH LEGISLATURE OF THE STATE OF WYOMING
2017 General Session

AN ACT relating to limited liability companies; clarifying that winding up distributions shall be paid in money or other property; and providing for an effective date.

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

Section 1
.

W.S. 17
‑
29
‑
708(
d
)
is
amended to read:

17
‑
29
‑
708
.

Distribution of assets in winding up limited liability company's activities.

(d)

All distributions made under subsections (b) and (c) of this section shall be
paid in money
or other property
.

Section

2
.

This
act is effective July 1,
201
7
.

(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

1