AB650, s. 81
19Section
81. 180.1302 (1) (cm) of the statutes is created to read:
AB650,37,2020
180.1302
(1) (cm) Consummation of a plan of conversion.
AB650, s. 82
21Section
82. 180.1421 (1) and (2) of the statutes are amended to read:
AB650,38,222
180.1421
(1) If the department determines that one or more grounds exist
23under s. 180.1420 for dissolving a corporation, the department shall
serve give the
24corporation under s.
180.0504 with written 180.0141 notice of the determination.
1Notwithstanding s. 180.0141 (2) (b), (3), and (4), the notice shall be in writing and
2addressed to the registered office of the corporation.
AB650,38,6
3(2) (a) Within 60 days after
service of the notice
is perfected takes effect under
4s.
180.0504 180.0141 (5) (a), the corporation shall correct each ground for dissolution
5or demonstrate to the reasonable satisfaction of the department that each ground
6determined by the department does not exist.
AB650,38,147
(b) If the corporation fails to satisfy par. (a), the department shall
8administratively dissolve the corporation
by issuing a certificate of dissolution that
9recites each ground for dissolution and its effective date. The department shall
file
10the original of the certificate and serve a copy on the corporation under s. 180.0504 11enter a notation in its records to reflect each ground for dissolution and the effective
12date of dissolution and shall give the corporation under s. 180.0141 notice of those
13facts. Notwithstanding s. 180.0141 (2) (b), (3), and (4), the notice shall be in writing
14and addressed to the registered office of the corporation.
AB650, s. 83
15Section
83. 180.1421 (2m) of the statutes is created to read:
AB650,38,2016
180.1421
(2m) (a) If a notice under sub. (1) or (2) (b) is returned to the
17department as undeliverable, the department shall again give notice to the
18corporation under s. 180.0141. Notwithstanding s. 180.0141 (2) (b), (3), and (4) and
19except as provided under par. (b), the notice under this paragraph shall be in writing
20and addressed to the principal office of the corporation.
AB650,38,2421
(b) If the notice under par. (a) is returned to the department as undeliverable
22or if the corporation's principal office cannot be determined from the records of the
23department, the department shall give the notice by publishing a class 2 notice under
24ch. 985 in the official state newspaper.
AB650, s. 84
25Section
84. 180.1504 (1) (intro.) and (b) of the statutes are amended to read:
AB650,39,3
1180.1504
(1) (intro.) A foreign corporation authorized to transact business in
2this state shall obtain an amended certificate of authority from the department if
it 3the foreign corporation changes any of the following:
AB650,39,44
(b)
The Its date of incorporation or the period of its duration.
AB650, s. 85
5Section
85. 180.1507 (2) of the statutes is amended to read:
AB650,39,96
180.1507
(2) A domestic corporation, a nonstock corporation
, a limited
7partnership, a registered limited liability partnership, or a limited liability company
8incorporated
, registered, or organized in this state, whose business office is identical
9with the registered office.
AB650, s. 86
10Section
86. 180.1507 (3) of the statutes is amended to read:
AB650,39,1411
180.1507
(3) A foreign corporation
, nonstock corporation, limited partnership,
12registered limited liability partnership, or limited liability company authorized to
13transact business in this state, whose business office is identical with the registered
14office.
AB650, s. 87
15Section
87. 180.1530 (1m) and (2) of the statutes are amended to read:
AB650,39,2016
180.1530
(1m) If the department receives a certificate under sub. (1) (f) and a
17statement by the foreign corporation that the certificate is submitted by the foreign
18corporation to terminate its authority to transact business in this state, the
19department shall
issue a certificate of revocation
revoke the foreign corporation's
20certificate of authority under s. 180.1531 (2) (b).
AB650,39,24
21(2) A court may revoke under s. 946.87 the certificate of authority of a foreign
22corporation authorized to transact business in this state. The court shall notify the
23department of the action, and the department shall
issue a certificate of revocation 24revoke the foreign corporation's certificate of authority under s. 180.1531 (2) (b).
AB650, s. 88
25Section
88. 180.1531 (1) and (2) (a) and (b) of the statutes are amended to read:
AB650,40,5
1180.1531
(1) If the department determines that one or more grounds exist
2under s. 180.1530 (1) for revocation of a certificate of authority, the department shall
3serve give the foreign corporation under s.
180.1510 with written 180.0141 notice of
4the determination.
Notwithstanding s. 180.0141 (2) (b), (3), and (4), the notice shall
5be in writing and addressed to the registered office of the foreign corporation.
AB650,40,9
6(2) (a) Within 60 days after
service of the notice
is perfected takes effect under
7s.
180.1510 180.0141 (5) (a), the foreign corporation shall correct each ground for
8revocation or demonstrate to the reasonable satisfaction of the department that each
9ground determined by the department does not exist.
AB650,40,1710
(b) If the foreign corporation fails to satisfy par. (a), the department may revoke
11the foreign corporation's certificate of authority by
issuing a certificate of revocation
12that recites entering a notation in the department's records to reflect each ground for
13revocation and
its the effective date
of the revocation. The department shall
file the
14original of the certificate and serve a copy on give the foreign corporation under s.
15180.1510 180.0141 notice of each ground for revocation and the effective date of the
16revocation. Notwithstanding s. 180.0141 (2) (b), (3), and (4), the notice shall be in
17writing and addressed to the registered office of the foreign corporation.
AB650, s. 89
18Section
89. 180.1531 (2m) of the statutes is created to read:
AB650,40,2319
180.1531
(2m) (a) If a notice under sub. (1) or (2) (b) is returned to the
20department as undeliverable, the department shall again give notice to the
21corporation under s. 180.0141. Notwithstanding s. 180.0141 (2) (b), (3), and (4) and
22except as provided under par. (b), the notice under this paragraph shall be in writing
23and addressed to the principal office of the foreign corporation.
AB650,41,224
(b) If the notice under par. (a) is returned to the department as undeliverable
25or if the corporation's principal office cannot be determined from the records of the
1department, the department shall give the notice by publishing a class 2 notice under
2ch. 985 in the official state newspaper.
AB650, s. 90
3Section
90. 180.1532 (1) of the statutes is amended to read:
AB650,41,114
180.1532
(1) A foreign corporation may appeal the department's revocation of
5its certificate of authority under s. 180.1530 (1) to the circuit court for the county
6where the foreign corporation's principal office or, if none in this state, its registered
7office is located, within 30 days after
service of the certificate the notice of revocation
8is perfected takes effect under s.
180.1510 180.0141 (5) (a). The foreign corporation
9shall appeal by petitioning the court to set aside the revocation and attaching to the
10petition copies of its certificate of authority and the department's
certificate notice 11of revocation.
AB650, s. 91
12Section
91. 180.1709 of the statutes is repealed.
AB650, s. 92
13Section
92. 181.0103 (7) of the statutes is repealed and recreated to read:
AB650,41,1614
181.0103
(7) "Deliver" means deliver by hand, mail, commercial delivery
15service, electronic transmission, or any other method of delivery used in
16conventional commercial practice.
AB650, s. 93
17Section
93. 181.0103 (10m) and (10p) of the statutes are created to read:
AB650,41,1918
181.0103
(10m) "Electronic" means relating to technology having electrical,
19digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.
AB650,41,22
20(10p) "Electronic signature" means an electronic sound, symbol, or process,
21attached to or logically associated with a writing and executed or adopted by a person
22with intent to authenticate the writing.
AB650, s. 94
23Section
94. 181.0103 (23) of the statutes is repealed and recreated to read:
AB650,41,2524
181.0103
(23) "Sign" means to execute or adopt a manual, facsimile, conformed,
25or electronic signature or any symbol with intent to authenticate a writing.
AB650, s. 95
1Section
95. 181.0121 (1) (a) 4. of the statutes is created to read:
AB650,42,32
181.0121
(1) (a) 4. An application for a certificate of conversion under s.
3181.1161 (5).
AB650, s. 96
4Section
96. 181.0122 (1) (intro.) of the statutes is amended to read:
AB650,42,85
181.0122
(1) Filing fee schedule. (intro.)
The Except as provided under sub.
6(5), the department shall collect the following fees when the documents described in
7this subsection are delivered to the department for filing or, under pars. (e) and (f),
8when the telephone applications are made:
AB650, s. 97
9Section
97. 181.0122 (1) (j) of the statutes is amended to read:
AB650,42,1210
181.0122
(1) (j) Subject to sub. (3) (e), domestic corporation's or foreign
11corporation's statement of change of
a registered agent or a registered office
, or both,
12$10.
AB650, s. 98
13Section
98. 181.0122 (1) (o) of the statutes is repealed and recreated to read:
AB650,42,1414
181.0122
(1) (o) Articles of merger, $150.
AB650, s. 99
15Section
99. 181.0122 (1) (yr) of the statutes is created to read:
AB650,42,1616
181.0122
(1) (yr) A certificate of conversion, $150.
AB650, s. 100
17Section
100. 181.0122 (5) of the statutes is created to read:
AB650,42,1918
181.0122
(5) The department, by rule, may specify a larger fee for filing
19documents described in sub. (1) in paper format.
AB650, s. 101
20Section
101. 181.0402 (1) of the statutes is amended to read:
AB650,43,721
181.0402
(1) Reservation of names. A person may reserve the exclusive use
22of a corporate name, including a fictitious name for a foreign corporation whose
23corporate name is not available, by delivering an application to the department for
24filing or by making a telephone application. The application shall include the name
25and address of the applicant and the name proposed to be reserved. If the
1department finds that the corporate name applied for under this subsection is
2available, the department shall reserve the name for the applicant's exclusive use for
3a 120-day period, which may be renewed by the applicant or a transferee under sub.
4(2) from time to time.
If an application to reserve a name or to renew a reserved name
5is made by telephone, the department shall cancel the reservation or renewal if the
6department does not receive the fee required under s. 181.0122 (1) (e) or (f) within
715 business days after the application is made.
AB650, s. 102
8Section
102. 181.0501 (2) of the statutes is amended to read:
AB650,43,129
181.0501
(2) Domestic entities. A domestic corporation, stock corporation
,
10limited partnership, registered limited liability partnership, or limited liability
11company, incorporated
, registered, or organized in this state, whose business office
12is identical with the registered office.
AB650, s. 103
13Section
103. 181.0501 (3) of the statutes is amended to read:
AB650,43,1714
181.0501
(3) Foreign entities. A foreign corporation, stock corporation
,
15limited partnership, registered limited liability partnership, or limited liability
16company, authorized to transact business in this state, whose business office is
17identical with the registered office.
AB650, s. 104
18Section
104. Subchapter XI (title) of chapter 181 [precedes 181.1100] of the
19statutes is amended to read:
AB650,43,2020
Chapter 181
AB650,43,2221
Subchapter Xi
22
Merger
; conversion
AB650, s. 105
23Section
105. 181.1100 of the statutes is created to read:
AB650,43,24
24181.1100 Definitions. In this subchapter:
AB650,44,2
1(1) "Business entity" means a domestic business entity and a foreign business
2entity.
AB650,44,5
3(2) "Domestic business entity" means a corporation, as defined in s. 180.0103
4(5), a limited liability company, as defined in s. 183.0102 (10), a limited partnership,
5as defined in s. 179.01 (7), or a corporation, as defined in s. 181.0103 (5).
AB650,44,9
6(3) "Foreign business entity" means a foreign limited liability company, as
7defined in s. 183.0102 (8), a foreign limited partnership, as defined in s. 179.01 (4),
8a foreign corporation, as defined in s. 180.0103 (9), or a foreign corporation, as
9defined in s. 181.0103 (13).
AB650, s. 106
10Section
106. 181.1101 (1) of the statutes is amended to read:
AB650,44,1611
181.1101
(1) In general. One or more corporations may merge
into a
12corporation or a stock corporation, with or into one or more other business entities 13if the plan of merger is approved as provided in s. 181.1103
and if the merger is
14permitted under the applicable law of the jurisdiction that governs each other
15business entity that is a party to the merger and each business entity approves the
16plan of merger in the manner required by the laws applicable to the business entity.
AB650, s. 107
17Section
107. 181.1101 (2) (a) of the statutes is amended to read:
AB650,44,2218
181.1101
(2) (a) The name
of each corporation, form of business entity, and
19identity of the jurisdiction governing each business entity planning to merge and the
20name
, form of business entity, and identity of the jurisdiction of the surviving
21corporation business entity into which each other
corporation business entity plans
22to merge.
AB650, s. 108
23Section
108. 181.1101 (2) (d) of the statutes is amended to read:
AB650,45,324
181.1101
(2) (d) The manner and basis, if any, of converting
memberships of
25each merging corporation into memberships, obligations or the shares or other
1interests in each business entity that is a party to the merger into shares, interests,
2obligations, or other securities of the surviving
business entity or any other
3corporation business entity or into cash or other property in whole or part.
AB650, s. 109
4Section
109. 181.1101 (3) (a) of the statutes is amended to read:
AB650,45,85
181.1101
(3) (a)
If the surviving corporation is a domestic corporation,
6amendments Amendments to the articles of incorporation or
bylaws other similar
7governing document of the surviving
corporation to be effected by the planned
8merger business entity.
AB650, s. 110
9Section
110. 181.1103 (6) of the statutes is amended to read:
AB650,45,1610
181.1103
(6) Abandonment of planned merger. After a merger is adopted, and
11at any time before articles of merger are filed, the planned merger may be
12abandoned, subject to any contractual rights, without further action by members or
13other persons who approved the plan
, in accordance with the procedure set forth in
14the plan of merger or, if none is set forth, in the manner determined by the board
or
15other similar governing body of any other business entity that is a party to the
16merger.
AB650, s. 111
17Section
111. 181.1104 (title) of the statutes is amended to read:
AB650,45,18
18181.1104 (title)
Merger of subsidiary
or parent.
AB650, s. 112
19Section
112. 181.1104 (1) of the statutes is amended to read:
AB650,45,2420
181.1104
(1) Member approval not required. A parent corporation that is a
21member with at least 90% of the voting rights in a subsidiary corporation may merge
22the subsidiary into
itself the parent or the parent into the subsidiary without
23approval of the members of the parent or
the members or other owners of the 24subsidiary.
AB650, s. 113
25Section
113. 181.1104 (2) (b) of the statutes is amended to read:
AB650,46,4
1181.1104
(2) (b) The manner and basis of converting the memberships of the
2subsidiary
or parent into memberships
or other interests of the
parent surviving
3business entity or any other
corporation business entity or into cash or other
4property in whole or part.
AB650, s. 114
5Section
114. 181.1104 (3) of the statutes is amended to read:
AB650,46,86
181.1104
(3) Notice requirement. The parent shall mail a copy or summary
7of the plan of merger to each member
or other owner of the
subsidiary merging
8business entity who does not waive the mailing requirement in writing.
AB650, s. 115
9Section
115. 181.1104 (4) of the statutes is amended to read:
AB650,46,1310
181.1104
(4) Filing with department. The parent may not deliver articles of
11merger to the department for filing until at least
30
10 days after the date on which
12it mailed a copy of the plan of merger to each member
or other owner of the
subsidiary 13merging business entity who did not waive the mailing requirement.
AB650, s. 116
14Section
116. 181.1105 (intro.) of the statutes is amended to read:
AB650,46,20
15181.1105 Articles of merger. (intro.) After a plan of merger is approved by
16the board, and, if required under s. 181.1103, by the members and any other persons,
17and by each other business entity that is a party to the merger in the manner
18required by the laws applicable to the business entity, the surviving or acquiring
19corporation business entity shall deliver to the department for filing articles of
20merger that include all of the following information:
AB650, s. 117
21Section
117. 181.1105 (2) of the statutes is amended to read:
AB650,46,2522
181.1105
(2) If member approval not required. If approval of members was
23not required, a statement to that effect and a statement that the plan was approved
24by a sufficient vote of the board
and by each other business entity that is a party to
25the merger in the manner required by the laws applicable to the business entity.
AB650, s. 118
1Section
118. 181.1105 (3) (c) of the statutes is created to read:
AB650,47,42
181.1105
(3) (c) A statement that the plan was approved by each other business
3entity that is a party to the merger in the manner required by the laws applicable
4to the business entity.
AB650, s. 119
5Section
119. 181.1105 (5) of the statutes is created to read: