Wisconsin Statutes 181.1433 – Decree of dissolution
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Terms Used In Wisconsin Statutes 181.1433
- 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) Entering decree. If after a hearing the court determines that one or more grounds for judicial dissolution under s. 181.1430 exist, it may enter a decree dissolving the corporation and specifying the effective date of the dissolution, and the clerk of the court shall deliver a certified copy of the decree to the department, who shall file it.
(2) Effect of decree. After entering the decree of dissolution, the court shall direct the winding up and liquidation of the corporation’s affairs in accordance with s. 181.1405 and the notification of its claimants in accordance with ss. 181.1406 and 181.1407.