LRB-5078/1
KSH:jlg:hmh
1997 - 1998 LEGISLATURE
March 18, 1998 - Introduced by Representative Jensen, cosponsored by Senator
Huelsman. Referred to Committee on Consumer Affairs.
AB929,1,2
1An Act to repeal 180.0622 (2) (b); and
to renumber and amend 180.0622 (2)
2(a) of the statutes;
relating to: liability of shareholders to corporate employes.
Analysis by the Legislative Reference Bureau
Current law imposes personal liability on each shareholder of a corporation, in
an amount up to the value of the shares that the shareholder owns, for any amount
owed by the corporation to its employes for up to 6 months of work per employe. This
bill eliminates this provision of current law. By cross-reference, the bill also applies
to stock insurance corporations.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB929, s. 1
3Section
1. 180.0622 (2) (a) of the statutes is renumbered 180.0622 (2) and
4amended to read:
AB929,1,85
180.0622
(2) Except as provided in par. (b) or unless Unless otherwise provided
6in the articles of incorporation, a shareholder of a corporation is not personally liable
7for the acts or debts of the corporation, except that a shareholder may become
8personally liable by his or her acts or conduct other than as a shareholder.
AB929, s. 2
1Section
2. 180.0622 (2) (b) of the statutes is repealed.
