AB100-ASA1,1384,84 170.12 (6) (a) The boundaries of the location where sunken logs may be raised
5pursuant to the permit. The area covered by the permit shall be contiguous and may
6not exceed 160 acres. A permit may not cover submerged lands that are not
7contained within Lake Michigan or Lake Superior. No location may be covered by
8more than one permit under this section.
AB100-ASA1, s. 2317 9Section 2317. 170.12 (6) (d) of the statutes is repealed.
AB100-ASA1, s. 3126e 10Section 3126e. 170.12 (6) (dm) of the statutes is created to read:
AB100-ASA1,1384,1411 170.12 (6) (dm) That the applicant shall implement procedures to determine
12whether a raised log bears an American Indian tribal mark or brand, to identify the
13tribal mark or brand, and to track the value realized from the sale of logs separately
14for logs that bear a particular tribal mark or brand.
AB100-ASA1, s. 3126m 15Section 3126m. 170.12 (6) (e) of the statutes is amended to read:
AB100-ASA1,1384,1916 170.12 (6) (e) The procedure and times when the permit holder shall tender to
17the board, on behalf of the state, any amounts due the state for its net share of the
18value of any logs raised. The amounts due the state for its net share of the value of
19logs described under par. (dm) shall be separately identified by tribal mark or brand.
AB100-ASA1, s. 3126p 20Section 3126p. 170.12 (6) (g) of the statutes is amended to read:
AB100-ASA1,1384,2221 170.12 (6) (g) Any requirements imposed recommended under s. 44.47 (5r) (b)
22that the board determines should be a condition of the permit
.
AB100-ASA1, s. 3126s 23Section 3126s. 170.12 (7) of the statutes is repealed and recreated to read:
AB100-ASA1,1385,1324 170.12 (7) Permit renewal. If a permit holder wishes to renew a permit issued
25under this section, the permit holder shall submit a request for renewal, together

1with a $500 renewal fee, to the board at least 30 days before the expiration date of
2the permit. The board shall renew the permit for a 5-year period unless the board
3determines, after notice to the permit holder and an opportunity for the permit
4holder to be heard, that the permit holder has knowingly or wilfully violated the
5terms, conditions or requirements of the permit; this section; s. 44.47; or rules
6promulgated under this section or s. 44.47. If the board determines that there are
7environmental or archaeological facts affecting the location specified in the permit
8that were unknown at the time that the original permit was granted, the board may
9attach additional conditions or restrictions to the permit. If the board determines
10that the permit holder has knowingly or wilfully violated the terms, conditions or
11requirements of the permit or a provision under this section or s. 44.47, the board
12may deny the renewal or may attach conditions or restrictions to the renewal
13necessary to ensure compliance with the requirements of the original permit.
AB100-ASA1, s. 3128m 14Section 3128m. 170.12 (8m) of the statutes is created to read:
AB100-ASA1,1385,1615 170.12 (8m) Duties of permit holders. (a) A holder of a permit issued under
16this section shall do all of the following:
AB100-ASA1,1385,2017 1. At the written request of the historical society, provide directly to the
18historical society a representative sample of company logging marks by sawing off
19the ends of the logs bearing the marks and by delivering them to the historical
20society.
AB100-ASA1,1385,2221 2. Allow a historical society designee to observe log recovery activities under
22the permit.
AB100-ASA1,1385,2423 (b) A person may not do any of the following while engaging in log recovery
24activities pursuant to a permit issued under this section:
AB100-ASA1,1385,2525 1. Remove any object, as defined in s. 44.47 (1) (f).
AB100-ASA1,1386,1
12. Disturb any discernible archaeological site, as defined in s. 44.47 (1) (b).
AB100-ASA1,1386,22 3. Disturb any crib or dock.
AB100-ASA1, s. 2318 3Section 2318. 170.12 (9) of the statutes is amended to read:
AB100-ASA1,1386,104 170.12 (9) Transfer of title. At such times as a permit holder tenders to the
5board any the amounts due under the state's reservation of value, pursuant to the
6terms and conditions of the permit, title to any logs covered by such tender shall pass
7to the permit holder. If the permit provides for an offset under sub. (6) (d), the board
8shall issue written findings at the conclusion of the term of the permit which describe
9the board's findings regarding compliance with the term of the permit and establish
10the proportion of the authorized offset to which the permit holder is entitled.
AB100-ASA1, s. 3129c 11Section 3129c. 170.12 (9m) of the statutes is created to read:
AB100-ASA1,1386,1712 170.12 (9m) Use of revenue from program. (a) The board shall credit the
13amounts due the state for its net share of the value of logs described under sub. (6)
14(dm) to the appropriation account under s. 20.507 (1) (j). For each type of tribal mark
15or brand, the board shall identify the American Indian tribe or band which made the
16tribal mark or brand and shall distribute the moneys received for the state's net
17share of the value of those logs to that American Indian tribe or band.
AB100-ASA1,1386,2018 (b) The application fee under sub. (3) (g), the renewal fee under sub. (7) and all
19amounts due the state for its net share of the value of logs not described under sub.
20(6) (dm) shall be deposited in the general fund as follows:
AB100-ASA1,1386,2121 1. The first $100,000 in a fiscal year, as general purpose revenue — earned.
AB100-ASA1,1386,2322 2. The next $300,000 in a fiscal year, as a credit to the appropriation account
23under s. 20.245 (4) (j).
AB100-ASA1,1386,2424 3. Any remaining money in a fiscal year, as general purpose revenue — earned.
AB100-ASA1, s. 3129g 25Section 3129g. 170.12 (10) (title) of the statutes is amended to read:
AB100-ASA1,1387,1
1170.12 (10) (title) Forfeiture Forfeitures and remedies.
AB100-ASA1, s. 3129m 2Section 3129m. 170.12 (10) of the statutes is renumbered 170.12 (10) (a) and
3amended to read:
AB100-ASA1,1387,74 170.12 (10) (a) Any logs subject to this section which are raised removed in
5violation of this section, or in violation of a permit issued under this section, shall be
6returned to the lakebed as directed by the board or shall be confiscated by the board
7and forfeited to the state.
AB100-ASA1, s. 3129r 8Section 3129r. 170.12 (10) (b) of the statutes is created to read:
AB100-ASA1,1387,139 170.12 (10) (b) Any person who removes for commercial gain sunken logs on
10submerged state lands without a permit issued under this section may be required
11to forfeit $500 or an amount equal to 2 times the gross value of the removed logs,
12whichever is greater, plus the reasonably incurred costs of investigation and
13prosecution.
AB100-ASA1, s. 3129w 14Section 3129w. 170.12 (10) (c) of the statutes is created to read:
AB100-ASA1,1387,1815 170.12 (10) (c) Any person who intentionally interferes with a log recovery
16operation for which a permit has been issued under this section is liable to the permit
17holder for any actual losses resulting from the interference and may be required to
18forfeit not less than $100 nor more than $500.
AB100-ASA1, s. 3131b 19Section 3131b. 180.0122 (1) (r) of the statutes is amended to read:
AB100-ASA1,1387,2120 180.0122 (1) (r) Application for reinstatement following administrative
21dissolution, $10 $90.
AB100-ASA1, s. 3131bm 22Section 3131bm. 180.0722 (8) (b) of the statutes is amended to read:
AB100-ASA1,1387,2523 180.0722 (8) (b) Shall be solicited and appointed apart from the sale of or offer
24to purchase shares of the issuing public resident domestic corporation, as defined in
25s. 180.1150 (1) (a) 180.1150 (1) (c).
AB100-ASA1, s. 3131bs
1Section 3131bs. 180.0722 (8) (c) of the statutes is amended to read:
AB100-ASA1,1388,52 180.0722 (8) (c) May not be solicited sooner than 30 days before the meeting
3called under s. 180.1150 (5), unless otherwise agreed in writing by the person acting
4under s. 180.1150 and the directors of the issuing public resident domestic
5corporation, as defined in s. 180.1150 (1) (a) (c).
AB100-ASA1, s. 3131c 6Section 3131c. 180.1130 (1) (a) of the statutes is amended to read:
AB100-ASA1,1388,117 180.1130 (1) (a) An organization, other than the issuing public resident
8domestic
corporation or a subsidiary of the issuing public resident domestic
9corporation, of which the person is an officer, director, manager or partner or is,
10directly or indirectly, the beneficial owner of 10% or more of a class of voting
11securities.
AB100-ASA1, s. 3131cm 12Section 3131cm. 180.1130 (1) (c) of the statutes is amended to read:
AB100-ASA1,1388,1613 180.1130 (1) (c) A relative or spouse of the person, or a relative of the spouse,
14who has the same principal residence as the person who is a director or officer of the
15issuing public resident domestic corporation or of an affiliate of the issuing public
16resident domestic corporation.
AB100-ASA1, s. 3131d 17Section 3131d. 180.1130 (2) (b) of the statutes is amended to read:
AB100-ASA1,1388,2018 180.1130 (2) (b) The existence of an option from, or other arrangement with,
19an issuing public a resident domestic corporation to acquire securities of the issuing
20public
resident domestic corporation.
AB100-ASA1, s. 3131e 21Section 3131e. 180.1130 (3) (a) (intro.) of the statutes is amended to read:
AB100-ASA1,1389,222 180.1130 (3) (a) (intro.) Unless the merger or share exchange is subject to s.
23180.1104, does not alter the contract rights of the shares as set forth in the articles
24of incorporation or does not change or convert in whole or in part the outstanding
25shares of the issuing public resident domestic corporation, a merger or share

1exchange of the issuing public resident domestic corporation or a subsidiary of the
2issuing public resident domestic corporation with any of the following:
AB100-ASA1, s. 3131em 3Section 3131em. 180.1130 (3) (b) of the statutes is amended to read:
AB100-ASA1,1389,104 180.1130 (3) (b) A sale, lease, exchange or other disposition, other than a
5mortgage or pledge if not made to avoid the requirements of ss. 180.1130 to 180.1134,
6to a significant shareholder, other than the issuing public resident domestic
7corporation or a subsidiary of the issuing public resident domestic corporation, or to
8an affiliate of the significant shareholder, of all or substantially all of the property
9and assets, with or without goodwill, of an issuing public a resident domestic
10corporation, if not made in the usual and regular course of its business.
AB100-ASA1, s. 3131f 11Section 3131f. 180.1130 (8) of the statutes is repealed.
AB100-ASA1, s. 3131g 12Section 3131g. 180.1130 (9) (a) 4. of the statutes is amended to read:
AB100-ASA1,1389,1513 180.1130 (9) (a) 4. If no report or quote is available under subd. 1., 2. or 3., the
14fair market value as determined in good faith by the board of directors of the issuing
15public
resident domestic corporation.
AB100-ASA1, s. 3131gm 16Section 3131gm. 180.1130 (10m) of the statutes is created to read:
AB100-ASA1,1389,2017 180.1130 (10m) "Resident domestic corporation" means a resident domestic
18corporation, as defined in s. 180.1140 (9), if that corporation does not have a class of
19voting stock that is registered or traded on a national securities exchange or that is
20registered under section 12 (g) of the Securities Exchange Act.
AB100-ASA1, s. 3131h 21Section 3131h. 180.1130 (11) of the statutes is amended to read:
AB100-ASA1,1390,1122 180.1130 (11) "Significant shareholder", with respect to an issuing public a
23resident domestic
corporation, means a person that is the beneficial owner, directly
24or indirectly, of 10% or more of the voting power of the outstanding voting shares of
25the issuing public resident domestic corporation; or is an affiliate of the issuing

1public
resident domestic corporation and within the 2-year period immediately
2before the date in question was the beneficial owner, directly or indirectly, of 10% or
3more of the voting power of the then outstanding voting shares of the issuing public
4resident domestic corporation. For the purpose of determining whether a person is
5a significant shareholder, the number of voting shares considered to be outstanding
6includes shares considered to be owned by the person as the beneficial owner but does
7not include any other voting shares which may be issuable under an agreement,
8arrangement or understanding, or upon exercise of conversion rights, warrants or
9options, or otherwise. In this paragraph, "person" includes 2 or more individuals or
10persons acting as a group for the purpose of acquiring, holding or voting securities
11of an issuing public a resident domestic corporation.
AB100-ASA1, s. 3131i 12Section 3131i. 180.1130 (13) (intro.) of the statutes is amended to read:
AB100-ASA1,1390,2013 180.1130 (13) (intro.) "Take-over offer" means the offer to acquire or the
14acquisition of any equity security, as defined in s. 552.01 (2), of an issuing public a
15resident domestic
corporation, pursuant to a tender offer or request or invitation for
16tenders, if after the acquisition thereof the offer or, as defined in s. 552.01 (3), would
17be directly or indirectly a beneficial owner of more than 5% of any class of the
18outstanding equity securities of the issuer. "Take-over offer" does not include an
19offer or acquisition of any equity security of an issuing public a resident domestic
20corporation pursuant to:
AB100-ASA1, s. 3131im 21Section 3131im. 180.1130 (13) (d) of the statutes is amended to read:
AB100-ASA1,1390,2422 180.1130 (13) (d) An offer made to all the shareholders of the issuing public
23resident domestic corporation, if the number of its shareholders does not exceed 100
24at the time of the offer.
AB100-ASA1, s. 3131j 25Section 3131j. 180.1130 (13) (f) of the statutes is amended to read:
AB100-ASA1,1391,2
1180.1130 (13) (f) An offer by the issuing public resident domestic corporation
2to acquire its own equity securities.
AB100-ASA1, s. 3131k 3Section 3131k. 180.1131 (intro.) of the statutes is amended to read:
AB100-ASA1,1391,7 4180.1131 Shareholder vote. (intro.) In addition to a vote otherwise required
5by law or the articles of incorporation of the issuing public resident domestic
6corporation, a business combination must be approved by the affirmative vote of at
7least all of the following, except as provided in s. 180.1132:
AB100-ASA1, s. 3131km 8Section 3131km. 180.1132 (1) (a) (intro.) of the statutes is amended to read:
AB100-ASA1,1391,129 180.1132 (1) (a) (intro.) The aggregate amount of the cash and the market value
10as of the valuation date of consideration other than cash to be received per share by
11shareholders of the issuing public resident domestic corporation in the business
12combination is at least equal to the highest of the following:
AB100-ASA1, s. 3131L 13Section 3131L. 180.1132 (2) (c) of the statutes is amended to read:
AB100-ASA1,1391,2114 180.1132 (2) (c) An issuing public A resident domestic corporation whose
15shareholders adopt an amendment to the articles of incorporation on or after April
1624, 1984, by a vote of at least 80% of the votes entitled to be cast by outstanding shares
17of voting shares of the issuing public resident domestic corporation, voting together
18as a single voting group and by two-thirds of the votes entitled to be cast by persons,
19if any, who are not significant shareholders of the issuing public resident domestic
20corporation, voting together as a single voting group, expressly electing not to be
21governed by ss. 180.1130 to 180.1134.
AB100-ASA1, s. 3131m 22Section 3131m. 180.1132 (3) of the statutes is amended to read:
AB100-ASA1,1392,323 180.1132 (3) Opt-in for certain corporations. A corporation that is not an
24issuing public
a resident domestic corporation may elect, by express provision in its
25articles of incorporation, to be subject to ss. 180.1130 to 180.1134 as if it were an

1issuing public
a resident domestic corporation unless its articles of incorporation
2contain a provision stating that the corporation is a close corporation under ss.
3180.1801 to 180.1837.
AB100-ASA1, s. 3131n 4Section 3131n. 180.1134 (intro.) of the statutes is amended to read:
AB100-ASA1,1392,13 5180.1134 Actions during take-over offer. (intro.) In addition to a vote
6otherwise required by law or the articles of incorporation of the issuing public
7resident domestic corporation, approval by vote of holders of a majority of the shares
8of the issuing public resident domestic corporation entitled to vote on the proposal
9is required at a shareholders' meeting held in conformance with ss. 180.0705 and
10180.0725 before any of the following actions may be taken by the officers or board of
11directors of the issuing public resident domestic corporation, while a take-over offer
12is being made, or after a take-over offer has been publicly announced and before it
13is concluded, for the issuing public resident domestic corporation's voting shares:
AB100-ASA1, s. 3131nm 14Section 3131nm. 180.1134 (1) of the statutes is amended to read:
AB100-ASA1,1392,2015 180.1134 (1) Acquiring more than 5% of the issuing public resident domestic
16corporation's voting shares at a price above the market value from any individual
17who or organization which holds more than 3% of the voting shares and has held the
18shares for less than 2 years, unless the issuing public resident domestic corporation
19makes at least an equal offer to acquire all voting shares and all securities which may
20be converted into voting shares.
AB100-ASA1, s. 3131o 21Section 3131o. 180.1134 (2) of the statutes is amended to read:
AB100-ASA1,1392,2522 180.1134 (2) Selling or optioning assets of the issuing public resident domestic
23corporation which amount to at least 10% of the market value of the issuing public
24resident domestic corporation. This subsection does not apply to an issuing public
25a resident domestic corporation if all of the following are satisfied:
AB100-ASA1,1393,3
1(a) The issuing public resident domestic corporation has at least 3 directors who
2are not either officers or employes of the issuing public resident domestic
3corporation.
AB100-ASA1,1393,64 (b) A majority of the directors who are not either officers or employes of the
5issuing public resident domestic corporation vote to not be governed by this
6subsection.
AB100-ASA1, s. 3131p 7Section 3131p. 180.1150 (1) (a) of the statutes is repealed.
AB100-ASA1, s. 3131pm 8Section 3131pm. 180.1150 (1) (b) of the statutes is amended to read:
AB100-ASA1,1393,159 180.1150 (1) (b) "Person" includes 2 or more individuals or persons acting as
10a group for the purpose of acquiring or holding securities of an issuing public a
11resident domestic
corporation, but does not include a bank, broker, nominee, trustee
12or other person that acquires or holds shares in the ordinary course of business for
13others in good faith and not for the purpose of avoiding this section unless the person
14may exercise or direct the exercise of votes with respect to the shares at a meeting
15of shareholders without further instruction from another.
AB100-ASA1, s. 3131r 16Section 3131r. 180.1150 (1) (c) of the statutes is created to read:
AB100-ASA1,1393,1817 180.1150 (1) (c) "Resident domestic corporation" has the meaning given in s.
18180.1130 (10m).
AB100-ASA1, s. 3131s 19Section 3131s. 180.1150 (2) of the statutes is amended to read:
AB100-ASA1,1394,220 180.1150 (2) Unless otherwise provided in the articles of incorporation of an
21issuing public
a resident domestic corporation and except as provided in sub. (3) or
22as restored under sub. (5), the voting power of shares of an issuing public a resident
23domestic
corporation held by any person, including shares issuable upon conversion
24of convertible securities or upon exercise of options or warrants, in excess of 20% of

1the voting power in the election of directors shall be limited to 10% of the full voting
2power of those shares.
AB100-ASA1, s. 3131sm 3Section 3131sm. 180.1150 (3) (intro.) of the statutes is amended to read:
AB100-ASA1,1394,64 180.1150 (3) (intro.) Shares of an issuing public a resident domestic corporation
5held, acquired or to be acquired in any of the following circumstances are excluded
6from the application of this section:
AB100-ASA1, s. 3131t 7Section 3131t. 180.1150 (3) (e) of the statutes is amended to read:
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