Wisconsin Statutes 180.1817 – Effect of termination of statutory close corporation status
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Terms Used In Wisconsin Statutes 180.1817
- 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.
(1) The termination of statutory close corporation status does not affect the rights of any shareholder or the corporation under an agreement or the corporation’s articles of incorporation, except to the extent that the agreement or the articles of incorporation are invalid under this chapter.
(2) The corporation shall adopt bylaws if it has no bylaws on termination of statutory close corporation status.