AB100-engrossed,1604,96
170.12
(6) (e) The procedure and times when the permit holder shall tender to
7the board, on behalf of the state,
any amounts due the state for its net share of the
8value of any logs raised.
The amounts due the state for its net share of the value of
9logs described under par. (dm) shall be separately identified by tribal mark or brand.
AB100-engrossed,1604,1211
170.12
(6) (g) Any requirements
imposed recommended under s. 44.47 (5r) (b)
12that the board determines should be a condition of the permit.
AB100-engrossed,1605,314
170.12
(7) Permit renewal. If a permit holder wishes to renew a permit issued
15under this section, the permit holder shall submit a request for renewal, together
16with a $500 renewal fee, to the board at least 30 days before the expiration date of
17the permit. The board shall renew the permit for a 5-year period unless the board
18determines, after notice to the permit holder and an opportunity for the permit
19holder to be heard, that the permit holder has knowingly or wilfully violated the
20terms, conditions or requirements of the permit; this section; s. 44.47; or rules
21promulgated under this section or s. 44.47. If the board determines that there are
22environmental or archaeological facts affecting the location specified in the permit
23that were unknown at the time that the original permit was granted, the board may
24attach additional conditions or restrictions to the permit. If the board determines
25that the permit holder has knowingly or wilfully violated the terms, conditions or
1requirements of the permit or a provision under this section or s. 44.47, the board
2may deny the renewal or may attach conditions or restrictions to the renewal
3necessary to ensure compliance with the requirements of the original permit.
AB100-engrossed,1605,65
170.12
(8m) Duties of permit holders. (a) A holder of a permit issued under
6this section shall do all of the following:
AB100-engrossed,1605,107
1. At the written request of the historical society, provide directly to the
8historical society a representative sample of company logging marks by sawing off
9the ends of the logs bearing the marks and by delivering them to the historical
10society.
AB100-engrossed,1605,1211
2. Allow a historical society designee to observe log recovery activities under
12the permit.
AB100-engrossed,1605,1413
(b) A person may not do any of the following while engaging in log recovery
14activities pursuant to a permit issued under this section:
AB100-engrossed,1605,1515
1. Remove any object, as defined in s. 44.47 (1) (f).
AB100-engrossed,1605,1616
2. Disturb any discernible archaeological site, as defined in s. 44.47 (1) (b).
AB100-engrossed,1605,1717
3. Disturb any crib or dock.
AB100-engrossed,1605,2519
170.12
(9) Transfer of title. At such times as a permit holder tenders to the
20board
any the amounts due under the state's reservation of value, pursuant to the
21terms and conditions of the permit, title to any logs covered by such tender shall pass
22to the permit holder.
If the permit provides for an offset under sub. (6) (d), the board
23shall issue written findings at the conclusion of the term of the permit which describe
24the board's findings regarding compliance with the term of the permit and establish
25the proportion of the authorized offset to which the permit holder is entitled.
AB100-engrossed,1606,72
170.12
(9m) Use of revenue from program. (a) The board shall credit the
3amounts due the state for its net share of the value of logs described under sub. (6)
4(dm) to the appropriation account under s. 20.507 (1) (j). For each type of tribal mark
5or brand, the board shall identify the American Indian tribe or band which made the
6tribal mark or brand and shall distribute the moneys received for the state's net
7share of the value of those logs to that American Indian tribe or band.
AB100-engrossed,1606,108
(b) The application fee under sub. (3) (g), the renewal fee under sub. (7) and all
9amounts due the state for its net share of the value of logs not described under sub.
10(6) (dm) shall be deposited in the general fund as follows:
AB100-engrossed,1606,1111
1. The first $100,000 in a fiscal year, as general purpose revenue — earned.
AB100-engrossed,1606,1312
2. The next $300,000 in a fiscal year, as a credit to the appropriation account
13under s. 20.245 (4) (j).
AB100-engrossed,1606,1414
3. Any remaining money in a fiscal year, as general purpose revenue — earned.
AB100-engrossed,1606,1616
170.12
(10) (title)
Forfeiture Forfeitures and remedies.
AB100-engrossed,1606,2219
170.12
(10) (a) Any logs subject to this section which are
raised removed in
20violation of this section, or in violation of a permit issued under this section, shall be
21returned to the lakebed as directed by the board or shall be confiscated by the board
22and forfeited to the state.
AB100-engrossed,1607,324
170.12
(10) (b) Any person who removes for commercial gain sunken logs on
25submerged state lands without a permit issued under this section may be required
1to forfeit $500 or an amount equal to 2 times the gross value of the removed logs,
2whichever is greater, plus the reasonably incurred costs of investigation and
3prosecution.
AB100-engrossed,1607,85
170.12
(10) (c) Any person who intentionally interferes with a log recovery
6operation for which a permit has been issued under this section is liable to the permit
7holder for any actual losses resulting from the interference and may be required to
8forfeit not less than $100 nor more than $500.
AB100-engrossed,1607,1110
180.0122
(1) (r) Application for reinstatement following administrative
11dissolution,
$10 $90.
AB100-engrossed,1607,1513
180.0722
(8) (b) Shall be solicited and appointed apart from the sale of or offer
14to purchase shares of the
issuing public resident domestic corporation, as defined in
15s.
180.1150 (1) (a) 180.1150 (1) (c).
AB100-engrossed,1607,2017
180.0722
(8) (c) May not be solicited sooner than 30 days before the meeting
18called under s. 180.1150 (5), unless otherwise agreed in writing by the person acting
19under s. 180.1150 and the directors of the
issuing public resident domestic 20corporation, as defined in s. 180.1150 (1)
(a) (c).
AB100-engrossed,1608,222
180.1130
(1) (a) An organization, other than the
issuing public resident
23domestic corporation or a subsidiary of the i
ssuing public resident domestic 24corporation, of which the person is an officer, director, manager or partner or is,
1directly or indirectly, the beneficial owner of 10% or more of a class of voting
2securities.
AB100-engrossed,1608,74
180.1130
(1) (c) A relative or spouse of the person, or a relative of the spouse,
5who has the same principal residence as the person who is a director or officer of the
6issuing public resident domestic corporation or of an affiliate of the
issuing public 7resident domestic corporation.
AB100-engrossed,1608,119
180.1130
(2) (b) The existence of an option from, or other arrangement with,
10an issuing public a resident domestic corporation to acquire securities of the
issuing
11public resident domestic corporation.
AB100-engrossed,1608,1813
180.1130
(3) (a) (intro.) Unless the merger or share exchange is subject to s.
14180.1104, does not alter the contract rights of the shares as set forth in the articles
15of incorporation or does not change or convert in whole or in part the outstanding
16shares of the
issuing public resident domestic corporation, a merger or share
17exchange of the
issuing public resident domestic corporation or a subsidiary of the
18issuing public resident domestic corporation with any of the following:
AB100-engrossed,1609,220
180.1130
(3) (b) A sale, lease, exchange or other disposition, other than a
21mortgage or pledge if not made to avoid the requirements of ss. 180.1130 to 180.1134,
22to a significant shareholder, other than the
issuing public resident domestic 23corporation or a subsidiary of the
issuing public
resident domestic corporation, or to
24an affiliate of the significant shareholder, of all or substantially all of the property
1and assets, with or without goodwill, of
an issuing public a resident domestic 2corporation, if not made in the usual and regular course of its business.
AB100-engrossed,1609,75
180.1130
(9) (a) 4. If no report or quote is available under subd. 1., 2. or 3., the
6fair market value as determined in good faith by the board of directors of the
issuing
7public resident domestic corporation.
AB100-engrossed,1609,129
180.1130
(10m) "Resident domestic corporation" means a resident domestic
10corporation, as defined in s. 180.1140 (9), if that corporation does not have a class of
11voting stock that is registered or traded on a national securities exchange or that is
12registered under section 12 (g) of the Securities Exchange Act.
AB100-engrossed,1610,314
180.1130
(11) "Significant shareholder", with respect to
an issuing public a
15resident domestic corporation, means a person that is the beneficial owner, directly
16or indirectly, of 10% or more of the voting power of the outstanding voting shares of
17the
issuing public resident domestic corporation; or is an affiliate of the
issuing
18public resident domestic corporation and within the 2-year period immediately
19before the date in question was the beneficial owner, directly or indirectly, of 10% or
20more of the voting power of the then outstanding voting shares of the
issuing public 21resident domestic corporation. For the purpose of determining whether a person is
22a significant shareholder, the number of voting shares considered to be outstanding
23includes shares considered to be owned by the person as the beneficial owner but does
24not include any other voting shares which may be issuable under an agreement,
25arrangement or understanding, or upon exercise of conversion rights, warrants or
1options, or otherwise. In this paragraph, "person" includes 2 or more individuals or
2persons acting as a group for the purpose of acquiring, holding or voting securities
3of
an issuing public a resident domestic corporation.
AB100-engrossed,1610,125
180.1130
(13) (intro.) "Take-over offer" means the offer to acquire or the
6acquisition of any equity security, as defined in s. 552.01 (2), of
an issuing public a
7resident domestic corporation, pursuant to a tender offer or request or invitation for
8tenders, if after the acquisition thereof the offer or, as defined in s. 552.01 (3), would
9be directly or indirectly a beneficial owner of more than 5% of any class of the
10outstanding equity securities of the issuer. "Take-over offer" does not include an
11offer or acquisition of any equity security of
an issuing public a resident domestic 12corporation pursuant to:
AB100-engrossed,1610,1614
180.1130
(13) (d) An offer made to all the shareholders of the
issuing public 15resident domestic corporation, if the number of its shareholders does not exceed 100
16at the time of the offer.
AB100-engrossed,1610,1918
180.1130
(13) (f) An offer by the
issuing public resident domestic corporation
19to acquire its own equity securities.
AB100-engrossed,1610,24
21180.1131 Shareholder vote. (intro.) In addition to a vote otherwise required
22by law or the articles of incorporation of the
issuing public resident domestic 23corporation, a business combination must be approved by the affirmative vote of at
24least all of the following, except as provided in s. 180.1132:
AB100-engrossed,1611,4
1180.1132
(1) (a) (intro.) The aggregate amount of the cash and the market value
2as of the valuation date of consideration other than cash to be received per share by
3shareholders of the
issuing public resident domestic corporation in the business
4combination is at least equal to the highest of the following:
AB100-engrossed,1611,136
180.1132
(2) (c)
An issuing public
A resident domestic corporation whose
7shareholders adopt an amendment to the articles of incorporation on or after April
824, 1984, by a vote of at least 80% of the votes entitled to be cast by outstanding shares
9of voting shares of the
issuing public resident domestic corporation, voting together
10as a single voting group and by two-thirds of the votes entitled to be cast by persons,
11if any, who are not significant shareholders of the
issuing public resident domestic 12corporation, voting together as a single voting group, expressly electing not to be
13governed by ss. 180.1130 to 180.1134.
AB100-engrossed,1611,2015
180.1132
(3) Opt-in for certain corporations. A corporation that is not
an
16issuing public a resident domestic corporation may elect, by express provision in its
17articles of incorporation, to be subject to ss. 180.1130 to 180.1134 as if it were
an
18issuing public a resident domestic corporation unless its articles of incorporation
19contain a provision stating that the corporation is a close corporation under ss.
20180.1801 to 180.1837.
AB100-engrossed,1612,5
22180.1134 Actions during take-over offer. (intro.) In addition to a vote
23otherwise required by law or the articles of incorporation of the
issuing public 24resident domestic corporation, approval by vote of holders of a majority of the shares
25of the
issuing public resident domestic corporation entitled to vote on the proposal
1is required at a shareholders' meeting held in conformance with ss. 180.0705 and
2180.0725 before any of the following actions may be taken by the officers or board of
3directors of the
issuing public resident domestic corporation, while a take-over offer
4is being made, or after a take-over offer has been publicly announced and before it
5is concluded, for the
issuing public resident domestic corporation's voting shares:
AB100-engrossed,1612,127
180.1134
(1) Acquiring more than 5% of the
issuing public resident domestic 8corporation's voting shares at a price above the market value from any individual
9who or organization which holds more than 3% of the voting shares and has held the
10shares for less than 2 years, unless the
issuing public resident domestic corporation
11makes at least an equal offer to acquire all voting shares and all securities which may
12be converted into voting shares.
AB100-engrossed,1612,1714
180.1134
(2) Selling or optioning assets of the
issuing public resident domestic 15corporation which amount to at least 10% of the market value of the
issuing public 16resident domestic corporation. This subsection does not apply to
an issuing public 17a resident domestic corporation if all of the following are satisfied:
AB100-engrossed,1612,2018
(a) The
issuing public resident domestic corporation has at least 3 directors who
19are not either officers or employes of the
issuing public resident domestic 20corporation.
AB100-engrossed,1612,2321
(b) A majority of the directors who are not either officers or employes of the
22issuing public resident domestic corporation vote to not be governed by this
23subsection.
AB100-engrossed,1613,7
1180.1150
(1) (b) "Person" includes 2 or more individuals or persons acting as
2a group for the purpose of acquiring or holding securities of
an issuing public a
3resident domestic corporation, but does not include a bank, broker, nominee, trustee
4or other person that acquires or holds shares in the ordinary course of business for
5others in good faith and not for the purpose of avoiding this section unless the person
6may exercise or direct the exercise of votes with respect to the shares at a meeting
7of shareholders without further instruction from another.
AB100-engrossed,1613,109
180.1150
(1) (c) "Resident domestic corporation" has the meaning given in s.
10180.1130 (10m).
AB100-engrossed,1613,1812
180.1150
(2) Unless otherwise provided in the articles of incorporation of
an
13issuing public a resident domestic corporation and except as provided in sub. (3) or
14as restored under sub. (5), the voting power of shares of
an issuing public a resident
15domestic corporation held by any person, including shares issuable upon conversion
16of convertible securities or upon exercise of options or warrants, in excess of 20% of
17the voting power in the election of directors shall be limited to 10% of the full voting
18power of those shares.
AB100-engrossed,1613,2220
180.1150
(3) (intro.) Shares of
an issuing public a resident domestic corporation
21held, acquired or to be acquired in any of the following circumstances are excluded
22from the application of this section:
AB100-engrossed,1614,3
1180.1150
(3) (e) Shares acquired under s. 180.1101, 180.1102, 180.1104 or
2180.1107 if the
issuing public resident domestic corporation is a party to the merger
3or share exchange.
AB100-engrossed,1614,65
180.1150
(3) (f) Shares acquired from the
issuing public resident domestic 6corporation.