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Reorganizations Approved Judicially

Statute:  ยง 551.202(22)(2), Wis. Stats.

Used for:  (b) Transactions incident to a judicially approved reorganization in which a security is issued in exchange for one or more outstanding securities, claims, or property interests.

Filing requirement: Self-Executing. No filing or Consent to Service of Process is necessary in order to claim this exemption.

Administrative Code references: None

Frequently asked questions:

Q: Is this exemption self-executing?

    A: Yes. No filing or Consent to Service of process is required.

Q: May a non-corporate entity claim this exemption?

    A:  Yes. The exemption language does not limit the type of business organization of the issuer seeking to claim the exemption.

History: Predecessor statute 551.23(13), Wis Stats., adopted January 1, 1970. Renumbered effective January 1, 2009.


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