Keeping owners, managers, and stakeholders up to date on issues affecting their businesses.
On April 15, 2022, Tony Evers signed Senate Bill 566/Act 258 into law. This article highlights certain changes in the WUPL that will be of interest to those doing business in Wisconsin.
When new entities such as limited liability companies (LLCs) are registered with the Wisconsin Department of Financial Institutions (WDFI), they may be put on a mailing list that can be purchased by third parties. We have had clients receive third-party solicitations within a day or two of their entity registering with WDFI.
When a party is holding property presumed to be abandoned, the holder must file a report with the Wisconsin Department of Revenue (DOR) summarizing the held property. Failure to file may lead to various financial penalties. Therefore, it is in a holder’s best interest to promptly file an appropriate report.