Wisconsin Statutes 185.81 – Admission of foreign cooperatives
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Terms Used In Wisconsin Statutes 185.81
- Cooperative: means an association incorporated under this chapter. See Wisconsin Statutes 185.01
- Foreign cooperative: means an association incorporated under a cooperative law of another state which has members residing within this state and which is operating on the following cooperative basis:
(a) No member of the foreign cooperative who is an individual is allowed more than one vote because of the amount of stock or membership capital the member owns therein; and
(b) The foreign cooperative shall not deal in the products of or for nonmembers to an amount greater in value than such as are handled by it for members; and
(c) The foreign cooperative distributes its proceeds according to either…. See Wisconsin Statutes 185.01State: when applied to states of the United States, includes the District of Columbia, the commonwealth of Puerto Rico and the several territories organized by Congress. See Wisconsin Statutes 990.01
A foreign cooperative is entitled to all rights, exemptions and privileges of a cooperative organized under this chapter, if it is authorized to do business in this state under ch. 180. Such foreign cooperative may qualify under ch. 180 whether or not formed for profit and whether or not formed with stock. Any such foreign cooperative claiming to be subject to s. 71.26 (1) (a) or 71.45 (1) (a) may be required to furnish the department of revenue with such facts as said department shall deem necessary to establish the foreign cooperative’s rights thereunder.