Section 17-25-103 - Definition and election of close limited liability company status(a) A close limited liability company is a limited liability company whose articles of organization contain a statement that the company is a close limited liability company. (b) A limited liability company formed under W.S. 17-29-101 through 17-29-1102 may convert to a close limited liability company by amending its articles of organization to include the statement required by subsection (a) of this section.(c) A statement in substantially the following form shall appear conspicuously in the operating agreement and on any certificates of ownership in a close limited liability company: NOTICE OF RESTRICTIONS ON TRANSFERS AND WITHDRAWALS
The rights of members in a close limited liability company may differ materially from the rights of members in other limited liability companies. The Close Limited Liability Company Supplement, articles of organization, and operating agreement of a close limited liability company may restrict transfer of ownership interests, withdrawal or resignation from the company, return of capital contributions and dissolution of the company.