Terms Used In Wisconsin Statutes 181.0124

  • 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.
  • Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
  • seal: includes the word "seal" the letters "L S" and a scroll or other device intended to represent a seal, if any is affixed in the proper place for a seal, as well as an impression of a seal on the instrument. See Wisconsin Statutes 990.01
   (1)    When a document may be corrected. A domestic corporation or foreign corporation may correct a document that is filed by the department before, on or after January 1, 1999, if the document contains a statement that was incorrect at the time of filing or was defectively executed, including defects in any attestation, seal, verification or acknowledgment.
   (2)   How document corrected. To correct a document under sub. (1), a domestic corporation or foreign corporation shall prepare and deliver to the department for filing articles of correction that satisfy all of the following:
      (a)    Describe the document, including its filing date, or include a copy of the document.
      (b)    Specify the incorrect statement and the reason that it is incorrect, or specify the manner in which the execution was defective, whichever is applicable.
      (c)    Correct the incorrect statement or defective execution.
   (3)   Effective date.
      (a)    Except as provided in par. (b), articles of correction are effective on the effective date of the document that they correct.
      (b)    With respect to persons relying on the uncorrected document and adversely affected by the correction, the articles of correction are effective when filed.