Wisconsin Statutes 201.11 – Impaired capital
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Terms Used In Wisconsin Statutes 201.11
- 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.
Whenever the commission shall find that the capital of any public service corporation is impaired it may, after investigation and hearing, issue an order directing such public utility to cease paying dividends on its common stock until such impairment has been made good. Nothing in this section shall be construed to modify the requirements of ss. 180.0623 and 180.0640.