226.025 Qualification of foreign utility holding companies; exceptions.

313 words·~1 min read·/wi/chapter-226/226-025

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

(1)Within the meaning of this chapter, every foreign corporation shall be deemed to be doing business within the state if, directly or indirectly, through agents, trustees or any other means, it furnishes to any affiliated public utility for use in intrastate operations in this state, any of the following:

(a)Any managerial, supervisory, engineering, legal, accounting, or financial service.

(b)Any equipment, facilities, or commodities, by sale, lease, exchange, conveyance, license, or similar arrangement.

(2)Within the meaning of this section the term “affiliated” shall have the same meaning as the term “affiliated interests” as defined in s. 196.52

(1). Provided, however, that the mere ownership of stock and receipt of dividends thereon shall not constitute doing business. This section shall not have the effect of imposing upon the corporation described in s. 196.52

(1)a duty to pay fees. The provisions of this section shall apply to interstate commerce only so far as the constitution and laws of the United States permit.

(3)The appointment of the department of financial institutions or the designation of a resident agent as attorney for the service of summons, notice, pleadings or process under s. 180.1507 shall be applicable only to actions or proceedings against the foreign corporations described in this section (unless such corporations have been admitted to this state for purposes other than those mentioned in this section) where the cause of action or proceeding arises out of transactions between such foreign corporations and public utilities operating in this state with which such foreign corporations are affiliated; and to actions or proceedings by or before the public service commission or office of the commissioner of railroads involving the transactions described in sub.

(1), or involving the relation between such foreign corporations and public utilities operating in this state with which they are affiliated.