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19
aug

U.S. takes steps to combat shell companies in Wyoming

State’s legislative committee voted to move ahead with a bill to ban stand-in nominee directors of corporations approved to do business in Wyoming

The bill presented by the secretary of state’s office would make any person named director of a corporation responsible and liable for corporation activities.

It is designed to combat Internet ads by companies that offer to set up corporations in Wyoming with “nominees” for absentee directors in order to dodge liability in case of lawsuits.

Secretary of State Max Maxfield said many major corporations do not have nominees listed in place of bona fide directors.
“We’re going after the bottom feeders,” Maxfield said.

The Joint Corporations, Elections and Political Subdivisions Committee voted unanimously to have a bill drafted for its next meeting.

source:trib.com