A statement of correction is effective as of the effective date of the filed record that it corrects except as to persons relying on the uncorrected filed record and adversely affected by the correction. For those purposes and as to those persons, the statement of correction is effective when filed.
History: 2021 a. 258
Duty of department to file; review of refusal to file; delivery of record by department. 181.0212(1)(1)
The department shall file a record delivered to the department for filing which satisfies this chapter. The duty of the department under this section is ministerial.
When the department files a record, the department shall record it as filed on the date of its delivery. After filing a record, the department shall deliver to the person that submitted the record a copy of the record with an acknowledgment of the date of filing.
If the department refuses to file a record, the department shall, not later than 5 business days after the record is delivered, do all of the following:
Return the record or notify the person that submitted the record of the refusal.
Provide a brief explanation in a record of the reason for the refusal.
If the department refuses to file a record, the person that submitted the record may petition the circuit court to compel filing of the record. The record and the explanation of the department of the refusal to file must be attached to the petition. The court may decide the matter in a summary proceeding.
If a record that has been refused for filing by the department is resubmitted and filed by the department, the effective date of the filed record is the date that the resubmitted record is received by the department for filing or a delayed effective date specified in the resubmitted record in accordance with s. 181.0209 (2)
The filing of or refusal to file a record does not create a presumption of any of the following:
That the record does or does not conform to the requirements of this chapter.
That the information contained in the record is correct or incorrect.
Except as otherwise provided by s. 181.0504
or by law other than this chapter, the department may deliver any record to a person by delivering it in any of the following ways:
To the e-mail or street address of the person's registered agent.
To another address the person provides to the department for delivery.
History: 2021 a. 258
Certificate of status. 181.0213(1)(1)
Any person may obtain from the department, upon request, a certificate of status for a domestic corporation or a foreign corporation.
A certificate of status shall include all of the following information:
The domestic corporation's corporate name or the foreign corporation's corporate name and fictitious name, if any, used in this state.
The domestic corporation is a corporation whose governing law is the law of this state, or the foreign corporation is authorized to transact business in this state.
The domestic corporation or foreign corporation has, during its most recently completed report year, filed with the department an annual report required by s. 181.0214
The domestic corporation has not filed articles of dissolution.
The domestic corporation's effective date of its articles of incorporation or the foreign corporation's effective date of its certificate of authority.
The certificate of status may include other facts of record in the department that are requested.
Subject to any qualification stated in a certificate of status issued by the department, the certificate is conclusive evidence that the corporation or foreign corporation is in existence or is authorized to transact business in this state.
Upon request by telephone or otherwise, the department shall confirm, by telephone, any of the information required in a certificate of status under sub. (2)
and may confirm any other information permitted under sub. (3)
History: 1997 a. 79
; 2021 a. 258
181.0214 Annual report for department. 181.0214(1)
A corporation or foreign corporation authorized to transact business in this state shall deliver to the department for filing an annual report that states all of the following:
The name of the corporation or foreign corporation.
The street and e-mail address of its registered office in this state and the name of its registered agent at that office.
The name and address of each director and principal officer.
In the case of a foreign corporation, the jurisdiction of its governing law and any fictitious name adopted under s. 181.1506 (1)
Information in the annual report must be current as of the date the report is signed by the corporation or foreign corporation.
A domestic corporation shall deliver its annual report to the department in each year following the calendar year in which the domestic corporation's articles of incorporation became effective, during the calendar year quarter in which the anniversary date of the articles' effective date occurs.
A foreign corporation authorized to transact business in this state shall deliver its annual report to the department during the first calendar quarter of each year following the calendar year in which the foreign corporation becomes authorized to transact business in this state.
If an annual report does not contain the information required by this section, the department promptly shall notify the reporting corporation or foreign corporation in a record and return the report to it for correction. If the annual report is corrected to contain the information required by this section and delivered to the department within 30 days after the effective date of such notice, the annual report is timely filed.
If an annual report contains a registered office or registered agent which differs from the information shown in the records of the department immediately before the report becomes effective, the differing information is considered a statement of change under s. 181.0502
PURPOSES AND POWERS
A corporation incorporated under this chapter has the purpose of engaging in any lawful activity unless a more limited purpose is set forth in the articles of incorporation.
(2) Effect of other regulation.
A corporation engaging in an activity that is subject to regulation under another statute of this state may incorporate under this chapter only if incorporation under this chapter is not prohibited by the other statute. The corporation shall be subject to all limitations of the other statute.
History: 1997 a. 79
Unless its articles of incorporation provide otherwise, a corporation has perpetual duration and succession in its corporate name and has the same powers as an individual to do all things necessary or convenient to carry out its affairs, including the power to do all of the following:
(1) Legal actions.
Sue and be sued, complain and defend in its corporate name.
(2) Corporate seal.
Have a corporate seal, which may be altered at will, and to use it, or a facsimile of it, by impressing or affixing it or in any other manner reproducing it.
Make and amend bylaws not inconsistent with its articles of incorporation or with the laws of this state, for regulating and managing the affairs of the corporation.
(4) Property acquisition.
Purchase, receive, lease or otherwise acquire, and own, hold, improve, use and otherwise deal with, property or any legal or equitable interest in property, wherever located.
(5) Disposition of property.
Sell, convey, mortgage, pledge, lease, exchange and otherwise dispose of all or any part of its property.
(6) Interests in other entities.
Purchase, receive, subscribe for or otherwise acquire, and own, hold, vote, use, sell, mortgage, lend, pledge or otherwise dispose of, and deal in and with, shares or other interests in, or obligations of, any other entity.
(7) Contracts and liabilities.
Make contracts and guarantees; incur liabilities; borrow money; issue notes, bonds and other obligations; and secure any of its obligations by mortgage or pledge of any of its property, franchises or income.
Lend money, invest and reinvest its funds and receive and hold property as security for repayment, except as limited by s. 181.0832
(9) Participation in other entities.
Be a promoter, partner, member, associate or manager of any entity.
(10) Exercise of powers.
Conduct its activities, locate offices and exercise the powers granted by this chapter in or outside this state.
(11) Directors, officers, employees and agents.
Elect or appoint directors, officers, employees and agents of the corporation, define their duties and fix their compensation.
(12) Pension and incentive plans.
Pay pensions and establish pension plans, pension trusts and other benefit and incentive plans for any of its current or former directors, officers, employees and agents of the corporation, its subsidiaries or its affiliates.
(13) Benefit plans.
Provide benefits or payments to directors, officers and employees of the corporation, its subsidiaries or its affiliates, and to their estates, families, dependents or beneficiaries, in recognition of the past services of the directors, officers and employees to the corporation, its subsidiaries or its affiliates.
Establish reasonable compensation for all directors for services to the corporation as directors, officers or otherwise. Unless otherwise provided in the articles of incorporation or bylaws, the board of directors, by the affirmative vote of a majority of the directors then in office and irrespective of any personal interest of any of its members, may establish reasonable compensation for all directors for such services or delegate this authority to an appropriate committee.
Make donations and otherwise devote its resources for the public welfare or for charitable, scientific, educational, humanitarian, philanthropic or religious purposes.
Impose dues, assessments, admission and transfer fees upon its members.
(17) Admission of members.
Establish conditions for admission of members, admit members and issue memberships.
Do all things necessary or convenient, not inconsistent with law, to further the activities and affairs of the corporation.
History: 1997 a. 79
In anticipation of or during an emergency, the board or members of a corporation may do all of the following:
Modify lines of succession to accommodate the incapacity of a director, officer, employee or agent.
Relocate the principal office, designate alternative principal offices or regional offices, or authorize the officers to do so.
Unless emergency bylaws adopted under s. 181.0207
provide otherwise, all of the following apply to a meeting of the board during an emergency:
The corporation need give notice of a meeting of the board only to those directors whom it is practicable to reach and the corporation may give notice in any practicable manner, including by publication and radio.
One or more officers of the corporation present at a meeting of the board may be considered to be a director for the meeting, in order of rank and within the same rank in order of seniority, as necessary to achieve a quorum.
(4) Action taken during emergency.
Corporate action taken in good faith during an emergency under this section to further the ordinary affairs of the corporation binds the corporation and may not be used to impose liability on a corporate director, officer, member, employee or agent.
History: 1997 a. 79
Effect of unauthorized corporate acts.
No act of a corporation and no conveyance or transfer of real or personal property to or by a corporation shall be invalid by reason of the fact that the corporation was without capacity or power to do such act or to make or receive such conveyance or transfer, except that lack of capacity or power may be asserted in all of the following cases:
(1) Proceedings by members or directors.
A proceeding by a member or director against the corporation to enjoin the doing of any act or the transfer of real or personal property by or to the corporation. If the unauthorized acts or transfer sought to be enjoined is being, or is to be, performed or made pursuant to any contract to which the corporation is a party, the court may, if all of the parties to the contract are parties to the proceeding, and if the court considers the same to be equitable, set aside and enjoin the performance of the contract. The court may allow to the corporation or to the other parties to the contract, as the case may be, compensation for the loss or damage sustained by either of them as a result of the action of the court in setting aside and enjoining the performance of the contract. Anticipated profits to be derived from the performance of the contract may not be awarded by the court as a loss or damage sustained.