Wisconsin Statutes 182.01 – Business records; other duties of department of financial institutions
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Terms Used In Wisconsin Statutes 182.01
- 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.
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- 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.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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
- Officers: when applied to corporations include directors and trustees. See Wisconsin Statutes 990.01
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
- Service of process: The service of writs or summonses to the appropriate party.
- State: when applied to states of the United States, includes the District of Columbia, the commonwealth of Puerto Rico and the several territories organized by Congress. See Wisconsin Statutes 990.01
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
(1) Definition. In this section, “department” means the department of financial institutions.
(2) Record keeping responsibility. The department shall receive and maintain business formation records.
(3) Name of drafter on documents. No articles of incorporation, articles of organization, articles of amendment, articles of merger, consolidation, interest exchange, conversion, or domestication, articles of dissolution, restated articles of incorporation, certificate of abandonment, or statement or articles of revocation of voluntary dissolution, provided for pursuant to ch. 180, 181, 185, 187, or 193; no articles of organization, amended or restated articles of organization, statement of dissolution, statement of rescission of dissolution or statement of withdrawal of a statement of dissolution, articles of merger, conversion, interest exchange, or domestication, or statement of abandonment, provided for pursuant to ch. 183; no statement of qualification or amendment or cancellation of a statement of qualification under s. 178.0901 or articles of merger, interest exchange, conversion, or domestication under ch. 178; and no certificate of limited partnership, restated or amended certificate of limited partnership, statement of dissolution, statement of termination, or articles of merger, interest exchange, conversion, or domestication, provided for pursuant to ch. 179, shall be filed by the department unless the name of the individual who, or the governmental agency which, drafted such document is printed, typewritten, stamped or written thereon in a legible manner. A document complies with this subsection if it contains a statement in the following form: “This document was drafted by…. (Name)”. This subsection shall not apply to a document executed prior to December 1, 1967, or to:
(a) A decree, order, judgment or writ of any court;
(b) A document executed or acknowledged outside this state.
(4) Preparation of copies, issuance of certificates, and performance of services. The department shall establish by rule the fees for all of the following:
(a) Providing electronic access to, or preparing and supplying copies or certified copies of, any resolution, deed, bond, record, document, or paper deposited with or kept by the department under this section.
(b) Issuing certificates or statements, in any form, relating to the results of searches of records and files of the department.
(c) Processing any service of process, notice, or demand served on the department.
(d) Processing, in an expeditious manner, a document required or permitted to be filed with the department, except that the fee to expedite processing to within one hour of filing shall be $500 and the fee to expedite processing to within 4 hours of filing shall be $250.
(e) Providing, in an expeditious manner, electronic access to any resolution, deed, bond, record, document, or paper deposited with or kept by the department under this section.
(f) Preparing, in an expeditious manner, any copies, certified copies, certificates, or statements provided under this section.
(5) Conditional acceptance of filing fees. Before actually filing any document by making an endorsement on that document, the department may accept and deposit the filing fee submitted with that document upon the condition that if subsequent examination of the document establishes that it does not meet the requirements for filing, the fee may be refunded and upon the condition that if a discrepancy in the amount of the fee is subsequently discovered the department may then demand further payment of a shortage or refund an overpayment subject to s. 20.905 (3).
(6) Discrimination by corporations or limited liability companies. If a complaint is made to the department that any corporation or limited liability company authorized to do business in this state is guilty of discrimination under s. 100.22, refer the matter to the department of agriculture, trade and consumer protection, which shall, if the facts justify it in its judgment, cause appropriate administrative or judicial proceedings to be commenced against the corporation or limited liability company and its officers or managers and members.
(7) Homeowners’ association filing system.
182.01(7)(a) (a) The department shall establish and maintain a statewide searchable filing system for notices filed under s. 710.18 (3) (e). The department shall design the system to function in a manner similar to the department’s corporate record filing system, including display of search result information in a manner similar to the way search results are displayed in the department’s corporate record filing system. The department shall establish a process to allow corporate filings to be accomplished simultaneously or in conjunction with filings under s. 710.18 (3).
(b) The department may establish a fee not exceeding $25 for filing a notice under s. 710.18 (3) (e). The department’s system shall allow public users to search the system’s database of filings without charge.
(c) The department shall prescribe a form for filing notices under s. 710.18 (3) (e) that includes all information specified in s. 710.18 (3) (e) 1. to 4.