This bill amends existing laws governing corporations, partnerships, and associations in Wyoming by introducing new grounds for administrative dissolution, revocation, and forfeiture. Specifically, it adds provisions that allow the Secretary of State to take action against entities that are owned or controlled by foreign adversaries, as defined by the United States Secretary of Commerce and specified in federal regulations. The new language includes the insertion of criteria that identifies foreign government or foreign nongovernment ownership or control as a basis for administrative actions, while also removing previous criteria related to service of process and fraudulent information.

The bill applies to various types of business entities, including domestic and foreign corporations, nonprofit corporations, limited liability companies, and statutory foundations. The effective date for these changes is set for July 1, 2025. This legislative action reflects a growing concern regarding national security and the influence of foreign adversaries on domestic business operations.

Statutes affected:
Draft 25LSO-0116: 17-16-1420, 17-16-1530, 17-19-1530, 17-29-705, 17-30-904