Changes Made To Shell Corporation Regulation Bill
The State Senate continues working on a pair of bills intended to give the Secretary of State more power to regulate shell corporations or those who operate without significant investments or operations in the state. Senator Phil Nicholas successfully lowered possible penalties for people in Wyoming who act as registered agents, and says that’s because they are not the people likely to commit fraud.
“For those folks who have agreed to be a registered agent in their own individual name and they live here and have an office here,” says Nicholas. “There is no threat, those people are not becoming registered agents for those people they don’t know and they can’t locate.
But Senator Cale Case feared that the change weakens the bill at a time when they are trying to strengthen Wyoming’s laws in this area. The Senate will debate the bill for a final time Friday.