Chapter 204 — BENEFIT CORPORATIONS
11 sections in this chapter.
Wis. Stat. § 204.101 Application and effect of chapter
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204.101 Application and effect of chapter. (1) GENERAL RULE. This chapter shall be applicable to all benefit corporations. (2) APPLICATION OF BUSINESS CORPORATION LAW GENERALLY. The existence of a provision of this chapter shall not of itself create an implication that a contrary…
Wis. Stat. § 204.102 Definitions
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204.102 Definitions. Unless the context clearly indicates otherwise, in this chapter: (1) “Benefit corporation” means a business corporation that has elected to become subject to this chapter and whose status as a benefit corporation has not been terminated under s. 204.105. (2) …
Wis. Stat. § 204.103 Formation of benefit corporations
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204.103 Formation of benefit corporations. A benefit corporation shall be formed in accordance with ch. 180, except that its articles shall also state that it is a benefit corporation. History: 2017 a. 77.
Wis. Stat. § 204.104 Election of an existing business corporation to become a benefit corporation
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204.104 Election of an existing business corporation to become a benefit corporation. (1) AMENDMENT. An existing business corporation may become a benefit corporation under this chapter by amending its articles so that they contain, in addition to the requirements of s. 180.0202,…
Wis. Stat. § 204.105 Termination of benefit corporation status
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204.105 Termination of benefit corporation status. A benefit corporation may terminate its status as such and cease to be subject to this chapter by amending its articles to delete the provision required by ss. 204.103 and 204.104 to be stated in the articles of a benefit corpora…
Wis. Stat. § 204.201 Corporate purposes
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204.201 Corporate purposes. 204.301 204.302 204.303 204.304 204.401 SUBCHAPTER III ACCOUNTABILITY Standard of conduct for directors. Benefit director. Standard of conduct for officers. Benefit officer. SUBCHAPTER IV TRANSPARENCY Annual benefit statement. (d) Improving human healt…
Wis. Stat. § 204.301 Standard of conduct for directors
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204.301 Standard of conduct for directors. (1) CONSIDERATION OF INTERESTS. (a) Notwithstanding ss. 180.0302 (15) and 180.0827, in discharging the duties of their respective positions, the board of directors, committees of the board, and individual directors of a benefit corporati…
Wis. Stat. § 204.302 Benefit director
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204.302 Benefit director. (1) GENERAL RULE. The board of directors of a benefit corporation shall include one director who shall be designated the “benefit director” and shall have, in addition to all of the powers, duties, rights, and immunities of the other directors of the ben…
Wis. Stat. § 204.303 Standard of conduct for officers
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204.303 Standard of conduct for officers. (1) GENERAL RULE. Each officer of a benefit corporation shall consider the interests and factors described in s. 204.301 (1) in the manner provided in that subsection when the officer has discretion to act with respect to a matter and it …
Wis. Stat. § 204.304 Benefit officer
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204.304 Benefit officer. (1) DESIGNATION. A benefit corporation may have an officer designated the “benefit officer.” (2) FUNCTIONS. A benefit officer shall have the powers and duties, as provided in the bylaws and as determined by the board of directors, relating to the benefit …
Wis. Stat. § 204.401 Annual benefit statement
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204.401 Annual benefit statement. (1) A benefit corpo- BENEFIT CORPORATIONS 204.401 ration shall annually provide its shareholders, within 30 days of the end of the benefit corporation’s fiscal year, with a statement as to the benefit corporation’s promotion of general public ben…