17-30-303. Formation of statutory foundation; articles of formation.

(a) One (1) or more persons may act as an organizer to form a statutory foundation by signing and delivering articles of formation to the secretary of state. Articles of formation shall be accompanied by a written consent of appointment signed by a registered agent.

(b) Articles of formation shall state:

(i) The name of the statutory foundation, which shall comply with W.S. 17-30-301; and

(ii) The street address of the statutory foundation's initial registered office and the name of its initial registered agent at that office.

(c) Articles of formation may state:

(i) The names and addresses of the individuals who are to serve as the initial directors;

(ii) The name and address of the individual who is to serve as the initial protector;

(iii) Other provisions not inconsistent with law, which may include:

(A) The purpose for which the statutory foundation is organized;

(B) An express statement that the purpose of the statutory foundation "may be amended", "may be restated" or words of similar import, pursuant to W.S. 17-30-201(f);

(C) A statement of the duration of the statutory foundation;

(D) Any provision under this act that is required or permitted to be stated in the operating agreement.

(d) A statutory foundation is formed when the articles of formation become effective. The filing of articles of formation by the secretary of state is conclusive proof that the organizer has satisfied all conditions required for the formation of a statutory foundation, except in a civil action commenced by the state of Wyoming to terminate a statutory foundation. In that case, a court may require other additional evidence as it determines appropriate.