5-13-115. Purpose and jurisdiction.

(a) The chancery court shall be a court of limited jurisdiction established for the expeditious resolution of disputes involving commercial, business, trust and similar issues. The chancery court shall employ nonjury trials, alternative dispute resolution methods and limited motions practice and shall have broad authority to shape and expedite discovery as provided in the rules adopted by the supreme court to govern chancery courts.

(b) The chancery court shall have jurisdiction to hear and decide actions for equitable or declaratory relief and for actions where the prayer for money recovery is an amount exceeding fifty thousand dollars ($50,000.00), exclusive of claims for punitive or exemplary damages, prejudgment or post judgment interest, costs and attorney fees provided the cause of action arises from at least one (1) of the following:

(i) Breach of contract;

(ii) Breach of fiduciary duty;

(iii) Fraud;

(iv) Misrepresentation;

(v) A statutory or common law violation involving:

(A) The sale of assets or securities;

(B) A corporate restructuring;

(C) A partnership, shareholder, joint venture or other business agreement;

(D) Trade secrets; or

(E) Employment agreements not including claims that principally involve alleged discriminatory practices.

(vi) Transactions governed by the Uniform Commercial Code;

(vii) Shareholder derivative actions. The monetary threshold in subsection (b) of this section shall not apply to action brought under this paragraph;

(viii) Commercial class actions;

(ix) Business transactions involving or arising out of dealings with commercial banks and other financial institutions;

(x) A dispute concerning the internal affairs of business organizations;

(xi) A dispute concerning environmental insurance coverage;

(xii) A dispute concerning commercial insurance coverage;

(xiii) Dissolution of corporations, partnerships, limited liability companies, limited liability partnerships, joint ventures, banks and trust companies. The monetary threshold of subsection (b) of this section shall not apply to action brought under this paragraph;

(xiv) Transactions governed by the Wyoming Uniform Trust Code; or

(xv) Applications to stay or compel arbitration and affirm or disaffirm arbitration awards and related injunctive relief or appeals pursuant to W.S. 1-21-801 through 1-21-804 or 1-36-101 through 1-36-119, involving any of the foregoing enumerated issues. Where any applicable arbitration agreement provides for an arbitration to be heard outside the United States, the monetary threshold set forth in this subsection shall not apply.

(c) The chancery court shall have no supplemental ancillary jurisdiction over any cause of action not listed in subsection (b) of this section.

(d) All chancery court judges throughout the state shall have concurrent jurisdiction with all district court judges throughout the state only as to the causes of action enumerated in subsection (b) of this section.

(e) A chancery judge may submit to arbitration any matter pending in chancery court, upon agreement of the parties as provided by W.S. 1-21-801 through 1-21-804, or upon application of either party showing an arbitration agreement and refusal of the opposing party to arbitrate as provided by W.S. 1-36-101 through 1-36-119.

(f) A chancery judge may order mediation in any matter pending in chancery court.