218.163 Transfer of ownership.
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/wi/chapter-218/218-163A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
218.163 Transfer of ownership.
(1)If a dealer desires to make a change in ownership by the sale of business assets, stock transfer, or otherwise, the dealer shall give the manufacturer or distributor written notice at least 10 business days before the closing, along with all supporting documentation as may be reasonably required by the manufacturer or distributor to determine if an objection to the sale may be made. In the absence of a breach by the selling dealer of its dealer agreement or this subchapter, the manufacturer or distributor may not object to the proposed change in ownership unless any of the following applies to the prospective transferee:
(a)The transferee has previously been terminated for cause by the manufacturer.
(b)The transferee has been convicted of a felony or any crime of fraud, deceit, or moral turpitude.
(c)The transferee lacks any license required by law.