180.0631 Corporation’s acquisition of its own shares.
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/wi/chapter-180/180-0631A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
180.0631 Corporation’s acquisition of its own shares.
(1)Treasury shares shall be considered issued shares but not outstanding shares.
(2)A corporation may acquire its own shares and all shares so acquired after December 31, 1990, constitute treasury shares unless any of the following conditions exists:
(a)The articles of incorporation prohibit treasury shares or prohibit the reissuance of acquired shares.
(b)The board of directors, by resolution, cancels the acquired shares, in which event the shares are restored to the status of authorized but unissued shares.