Wisconsin Statutes > Chapter 180 > Subchapter XII – Sale of Assets
Current as of: 2024 | Check for updates
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Other versions
| § 180.1201 | Sale of assets in regular course of business; mortgage of assets; transfer of assets to subsidiary |
| § 180.1202 | Sale of assets other than in regular course of business |
Terms Used In Wisconsin Statutes > Chapter 180 > Subchapter XII - Sale of Assets
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Embalming: means disinfecting or preserving dead human bodies, entire or in part, by the use of chemical substances, fluids or gases in the body, or by the introduction of same into the body by vascular or hypodermic injection, or by direct application into the organs or cavities for the purpose of preservation or disinfection. See Wisconsin Statutes 445.01
- Examining board: means the funeral directors examining board. See Wisconsin Statutes 445.01
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- funeral director: means any of the following:
(a) A person engaged in or conducting, or holding himself or herself out, in whole or in part, as being engaged in any of the following:
1. See Wisconsin Statutes 445.01Funeral establishment: means any building or part of a building used and held out to the public as being used for caring or preparing for the burial or transportation of dead human bodies or for holding or conducting of funeral services. See Wisconsin Statutes 445.01 Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses. Person: includes firm, corporation, partnership, cooperative, unincorporated cooperative association, and association of individuals. See Wisconsin Statutes 445.01 Property: includes real and personal property. See Wisconsin Statutes 990.01 Qualified: when applied to any person elected or appointed to office, means that such person has done those things which the person was by law required to do before entering upon the duties of the person's office. See Wisconsin Statutes 990.01 Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC State: 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