There is a newer version of the Wisconsin Statutes & Annotations
2011 Wisconsin Code
Chapter 180. Business corporations.
180.1819 Payment for shares.
180.1819
180.1819 Payment for shares.180.1819(1)
(1) A compromise or forgiveness of a note or other obligation to transfer money or other property to a statutory close corporation in payment for shares is valid only if approved by all of the shareholders of the corporation, unless the articles of incorporation or a final judgment in a proceeding brought to enforce the obligation provides otherwise.180.1819(2)
(2) In the absence of fraud, the judgment of the persons responsible for the issuance of shares as to the value of the consideration received for shares is conclusive.180.1819 - ANNOT.
History: 1989 a. 303.Disclaimer: These codes may not be the most recent version. Wisconsin may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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