611.32 Promoter stock.
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/wi/chapter-611/611-32A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
611.32 Promoter stock.
(1)Mandatory purchase. During the period of effectiveness of the organization permit the incorporators, directors, and principal officers of a stock corporation shall among themselves subscribe and pay, at the public offering price, at least $100,000 in cash or in property of equivalent value approved by the commissioner, for shares offered by the corporation under the organization permit.