Administrative Rule Review Report  #AR10-047

Legislative Service Office

27-Jul-10

AGENCY: Secretary of State Office.

DATE SUBMITTED: July 15, 2010.

SUBJECT: Chapter 1, General Provisions; and Chapter 4, Foreign Limited Liability Company.

NATURE OF RULES:                     Legislative and Procedural.

STATUTORY AUTHORITY:         W.S. 17-29-1102.

DETERMINATION OF PROCEDURAL COMPLIANCE BASED UPON INFORMATION SUBMITTED BY THE AGENCY TO LSO:  Procedural compliance appears complete to date.  Notice of the adoption of the new rules was provided by LSO to members of the Joint Corporations, Elections and Political Subdivisions Committee on July 20, 2010.  No comments have been received to date.

SUMMARY OF RULES:  The rules are amended to reflect changes to the Wyoming Limited Liability Act by 2010 Senate Enrolled Act No. 51.  The amendments correct references to newly created sections and set required fees.  The amendments also eliminate the requirements for reserving the use of a limited liability company name and the requirements for foreign limited liability companies to do business in Wyoming.  The rules are not necessary as Senate Enrolled Act No. 51 sets forth the requirements for reserving a name in W.S. 17-29-109 and sets forth the requirements for foreign limited liability companies in W.S. 17-16-1533.

FINDINGS:  The rules appear to be within the scope of statutory authority.

STAFF RECOMMENDATION:  That the rules be placed on the Consent List and approved by Management Council as submitted by the Agency.

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Lily Sharpe

Staff Attorney

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Dave Gruver

Assistant Director

LNS/