CHAPTER 182
MISCELLANEOUS CORPORATE PROVISIONS; TURNPIKE CORPORATIONS
182.001 Corporations and trusts prohibited from owning or carrying on farming operations.
182.004 Housing corporations.
182.005 Water reservoirs.
182.007 Charitable corporations and community funds, amending articles.
182.01 Business records; other duties of department of financial institutions.
182.011 Corporate powers.
182.012 Special power to transfer property of nonstock corporation.
182.0135 Public utility corporation directors; not to delegate duty to manage; removal by commission.
182.016 River improvement corporations may flow lands.
182.017 Transmission lines; privileges; damages.
182.0175 Damage to transmission facilities.
182.018 Wires over railroads.
182.019 Damages for nondelivery of message or power.
182.020 Driving park corporation.
182.027 Lyceum, libraries and art galleries.
182.028 School corporations.
182.029 Universities and colleges may unite.
182.030 Corporations having church affiliations.
182.031 Railway equipment companies.
182.104 Title to property after dissolution.
182.202 Mutual telecommunications company; quorum; proxies.
182.219 Mutual telecommunications company; dividends.
182.220 Examination by attorney general and legislature.
182.23 Facsimile signatures on corporate obligations.
182.24 Transfers from joint tenants.
182.25 Stock transfers on books, how compelled.
182.30 Turnpike act; title.
182.33 Additional powers.
182.34 Issuance of bonds.
182.35 Acquisition of lands and interests therein.
182.36 Authority to construct grade separations and relocate public roads, streets, highways, railroads and public utilities.
182.37 Rights of public utilities.
182.39 Use of state lands.
182.41 Corporation to be nonprofit.
182.42 Not to be considered public utilities.
182.43 Underpass authorized.
182.44 Limitations on powers.
182.47 Motor vehicle laws to apply.
182.48 State may acquire.
182.50 Establishment of foreign trade zones.
182.70 Wisconsin Valley Improvement Company.
182.71 The Chippewa and Flambeau Improvement Company.
182.001
182.001
Corporations and trusts prohibited from owning or carrying on farming operations. 182.001(1)(1)
Prohibition. No corporation or trust may own land on which to carry on farming operations under sub.
(3) or carry on farming operations under sub.
(3), unless the corporation or trust meets the following standards:
182.001(1)(a)
(a) Its shareholders or beneficiaries do not exceed 15 in number. Lineal ancestors and lineal descendants, whether by blood or by adoption, and aunts, uncles and 1st cousins thereof count collectively as one shareholder or beneficiary for purposes of this paragraph, but this collective authorization shall not be used for more than one family in a single corporation or trust.
182.001(1)(b)
(b) It does not have more than 2 classes of shares.
182.001(1)(c)
(c) All its shareholders or beneficiaries, other than any estate, are natural persons.
182.001(2)(a)
(a) Notwithstanding the prohibition in sub.
(1), a corporation or trust may own land on which to carry on farming operations if the land is acquired by bequest or devise or is acquired in the regular course of business in partial or full satisfaction of any mortgage, lien or other encumbrance held or owned by the corporation or trust on the land, provided the land is sold or otherwise transferred within 5 years after such acquisition and provided the sale or transfer can be made at fair market value.
182.001(2)(b)
(b) This section does not apply to a small business investment corporation, or to any corporation acting as a personal representative or trustee or in any similar fiduciary capacity where the trust meets the standards under sub.
(1).
182.001(2)(c)2.
2. Acquired by a corporation in the normal expansion of land owned by the corporation and used for agricultural purposes on June 5, 1974, provided that such expansion does not increase the acreage of such land by more than 20 percent in any 5-year period.
182.001(2)(c)3.
3. Acquired by a corporation to meet pollution control requirements.
182.001(2)(d)
(d) This section does not apply to farms engaged primarily in research, breeding operations or the production of any crop primarily for seed.
182.001(2)(e)
(e) This section does not apply to agricultural land acquired by a corporation or trust for expansion or other corporate or trust business purposes and such land may be used for farming operations if leased to a person not prohibited from engaging in farming operations under sub.
(3).
182.001(2)(f)
(f) This section does not apply to the use of land prohibited under sub.
(3) when such use is incidental to the principal purpose for which the property is held and which purpose is not prohibited by sub.
(3).
182.001(3)
(3) Prohibited activities. Those farming operations prohibited under this section are the production of dairy products not including the processing of such dairy products; the production of cattle, hogs and sheep; and the production of wheat, field corn, barley, oats, rye, hay, pasture, soybeans, millet, sorghum, and hemp.
182.001(4)
(4) Penalty for noncompliance. Any corporation or trust violating this section or any injunction or order issued under this section shall forfeit not more than $1,000 for each violation. Each day of violation shall constitute a separate offense. In addition, the district attorney of any county in which a corporation or trust has acquired land on which to carry on farming operations or in which a corporation or trust commences farming operations shall bring an action to enjoin such operations when it appears there is probable cause to believe that a violation of this section has occurred. The court may permit normal farming operations to be carried on when necessary to prevent loss or damage in any instance arising under this subsection. The action also shall request a court order requiring the corporation or trust to divest itself of such land within a reasonable period of time.
