Terms Used In Wisconsin Statutes > Chapter 179 > Subchapter V - Contributions and Distributions

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• 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.
• Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
• Property: includes real and personal property. See Wisconsin Statutes 990.01
• 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
• Year: means a calendar year, unless otherwise expressed; "year" alone means "year of our Lord". See Wisconsin Statutes 990.01