Wisconsin Statutes 180.1835 – Limited liability
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 180.1835
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The failure of a statutory close corporation to observe usual corporate formalities or requirements relating to the exercise of its corporate powers or the management of its business and affairs is not grounds for imposing personal liability on the shareholders for obligations of the corporation.