LRB-2136/1
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2001 - 2002 LEGISLATURE
March 28, 2001 - Introduced by Senators Huelsman, Roessler, Schultz and
Rosenzweig, cosponsored by Representatives Duff, Sykora, Albers, Kedzie,
Nass, Plale, Seratti, Vrakas, Hundertmark, Owens and Skindrud. Referred
to Committee on Judiciary, Consumer Affairs, and Campaign Finance
Reform.
SB119,1,2
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 employees.
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 employees for up to six months of work per employee.
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:
SB119, s. 1
3Section
1. 180.0622 (2) (a) of the statutes is renumbered 180.0622 (2) and
4amended to read:
SB119,1,85
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.
SB119, s. 2
1Section
2. 180.0622 (2) (b) of the statutes is repealed.
