Wisconsin Statutes 201.09 – Penalties
Current as of: 2024 | Check for updates
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Attorney's Note
Under the Wisconsin Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class I felony | up to 3 years 6 months | up to $10,000 |
Terms Used In Wisconsin Statutes 201.09
- Commission: means the office of the commissioner of railroads in the case of water carriers and the public service commission in the case of other public service corporations. See Wisconsin Statutes 201.01
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fraud: Intentional deception resulting in injury to another.
- Public service corporation: includes a holding company, as defined under…. See Wisconsin Statutes 201.01
- Securities: means capital stock and evidences of indebtedness of a public service corporation, but do not include any of the following:
(a) Any obligation of a public service corporation which is not a public utility as defined in the federal Power Act, falling due one year or less after its date and bearing date not later than the day of sale. See Wisconsin Statutes 201.01State: 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
(1) Any public service corporation, or any agent, director or officer of a public service corporation, who shall directly or indirectly, issue or cause to be issued, any securities for whose issuance a certificate is required contrary to the provisions of this chapter, or who shall apply the proceeds from the sale of the securities to any purpose other than that specified in the certificate of the commission, shall forfeit to the state not less than $500 nor more than $10,000 for each offense.
(2) Every director, president, secretary or other official or agent of any public service corporation, who shall practice fraud or knowingly make any false statement to secure a certificate of authority to issue any security, or issue under a certificate so obtained and with knowledge of such fraud, or false statement, or negotiate, or cause to be negotiated, any security, in violation of this chapter, is guilty of a Class I felony.