183.0302 Statement of authority.

481 words·~2 min read·/wi/chapter-183/183-0302-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A limited liability company may deliver to the department for filing a statement of authority.

(b)The statement of authority must include the name of the company, the street address of the company’s registered office in this state, and the name and e-mail address of its registered agent at that office.

(c)The statement of authority may state any of the following:

1. With respect to any position that exists in or with respect to the company, the authority, or limitations on the authority, of all persons holding the position to do any of the following:

a. Sign an instrument transferring real property held in the name of the company.

b. Enter into other transactions on behalf of, or otherwise act for or bind, the company.

2. The authority, or limitations on the authority, of a specific person to do any of the following:

a. Sign an instrument transferring real property held in the name of the company.

b. Enter into other transactions on behalf of, or otherwise act for or bind, the company.

(2)To amend or cancel a statement of authority filed by the department, a limited liability company must deliver to the department for filing an amendment or cancellation stating all of the following:

(a)The name of the company.

(b)The street address of the company’s registered office in this state and the name and e-mail address of its registered agent at that office.

(c)The date the statement being affected became effective.

(d)The contents of the amendment or a declaration that the statement is canceled.

(a)A statement of authority is renewable for successive 5-year periods. To renew a statement of authority filed by the department, a limited liability company must deliver to the department for filing, during the 3 months before the cancellation would occur under sub.

(10), a statement of renewal that includes all of the following:

1. The name of the company.

2. The street address of the company’s registered office in this state and the name and e-mail address of its registered agent at that office.

3. The statement of authority being affected.

4. A declaration that the statement of authority is being renewed.

(b)When filed, a statement of renewal that complies with par.

(a)renews the statement of authority for a 5-year period commencing with the date of filing of the statement of renewal.

(3)A statement of authority affects only the power of a person to bind a limited liability company to persons that are not members.

(4)Subject to sub.

(3)and s. 183.0103

(4), and except as otherwise provided in subs.

(6)to

(8), a limitation on the authority of a person or a position contained in an effective statement of authority is not by itself evidence of any person’s knowledge or notice of the limitation.