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Keeping owners, managers, and stakeholders up to date on issues affecting their businesses.

Viewing posts in "New LLC Law - Senate Bill 566/​Act 258".

Deadline Approaching to File Statement of Nonapplicability with WDFI to Opt Out of Wisconsin's New LLC Law

WDFI's last business day of 2022 with office hours is Friday, December 30, 2022 from 7:45am to 4:30pm. If you are planning to file a Statement of Nonapplicability with WDFI to opt out of Wisconsin's New LLC Law, acceptable Statements should be received by WDFI before then to be considered timely filed (notwithstanding that the instructions on the form say to file no later than December 31, 2022). WDFI's processing time is about five business days.

Wisconsin's New Limited Liability Company Statutes: Key Updates and Provisions

On April 15, 2022, Tony Evers signed Senate Bill 566/Act 258 into law, repealing and recreating Chapter 183 (the Wisconsin Uniform Limited Liability Company Law, or "WULLCL"), which governs limited liability companies. Among the Act's various provisions, it generally adopts the Revised Uniform Limited Liability Company Act, subject to certain intentional differences. This article highlights certain changes in the WULLCL that will be of interest to those doing business in Wisconsin.