Service Corporation-Issued Securities
Statute: § 551.22(11), Wis. Stats.
Note: This securities exemption no longer exists under the current Wisconsin Uniform Securities Law. Consequently, review the separate provisions at www.wdfi.org/fi/securities/regexemp/exemptions/default.htm to determine if the security qualifies for a different registration exemption.
Used for: Any shares of common stock issued by a service corporation organized under §§ 180.1901 to 180.1921, Wis. Stats.
Filing requirement: Self-Executing. No filing or Consent to Service of Process is necessary in order to claim this exemption.
Frequently asked questions:
Q: Is the exemption self-executing?
A: Yes. No filing or Consent to Service of Process is required.
History: Adopted on January 1, 1970. No parallel section in the Uniform Securities Act.