Wisconsin Statutes 181.1008 – Effect of amendment and restatement of articles of incorporation
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Terms Used In Wisconsin Statutes 181.1008
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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
(1) Rights and proceedings not affected. An amendment to a corporation‘s articles of incorporation, including a restatement of its articles of incorporation under s. 181.1006 that includes an amendment to its articles of incorporation, does not affect any of the following:
(a) A cause of action existing against or in favor of the corporation.
(b) A civil, criminal, administrative or investigatory proceeding to which the corporation is a party.
(c) The existing rights of persons other than members of the corporation.
(2) Proceedings not abated. An amendment, or a restatement including an amendment, changing a corporation’s name does not abate a civil, criminal, administrative or investigatory proceeding brought by or against the corporation in its former name.