Wisconsin Statutes 181.1132 – Plan of interest exchange
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 181.1132
- Acquire: when used in connection with a grant of power to any person, includes the acquisition by purchase, grant, gift or bequest. See Wisconsin Statutes 990.01
- 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
- Property: includes real and personal property. See Wisconsin Statutes 990.01
(1) The plan of interest exchange must be in a record and contain all of the following:
(a) As to both the acquiring entity and the acquired entity, its name, type of entity, and governing law.
(b) The terms and conditions of the interest exchange.
(c) The manner and basis of exchanging the interests to be acquired for interests, securities, or obligations of the surviving entity, rights to acquire such interests or securities, money, other property, or any combination of the foregoing.
(d) Any proposed amendments to the organizational documents of the acquiring or acquired entity that will take effect when the interest exchange becomes effective.
(e) Any other matters required under the governing law of the acquired or acquiring entity.
(f) A statement whether s. 181.1180 applies to the interest exchange.
(2) In addition to the requirements of sub. (1), a plan of interest exchange may contain any other provision relating to the interest exchange and not prohibited by law.