(a) A decentralized unincorporated nonprofit association shall have perpetual existence unless its governing principles otherwise specify. (b) A decentralized unincorporated nonprofit association may be dissolved by any of the following methods: (i) If the governing principles of the decentralized unincorporated nonprofit association provide a time or method for dissolution, by that method; (ii) If the governing principles of the decentralized unincorporated nonprofit association do not provide a method for dissolution, by approval of its members in accordance with W.S. 17-32-120; (iii) If membership in the decentralized unincorporated nonprofit association falls below one hundred (100) members and the decentralized unincorporated nonprofit association does not meet the requirements of a Wyoming unincorporated nonprofit association under W.S. 17-22-101 through 17-22-115. In the event membership in the decentralized unincorporated nonprofit association falls below one hundred (100) members and the decentralized unincorporated nonprofit association meets the requirements of a Wyoming unincorporated nonprofit association under W.S. 17-22-101 through 17-22-115, the entity automatically converts to a Wyoming unincorporated nonprofit association unless the governing principles otherwise specify; (iv) By court order. (c) After dissolution, a decentralized unincorporated nonprofit association continues in existence until its activities have been wound up and terminated pursuant to W.S. 17-32-126.
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