236 Relating to: long-term name reservation by a limited liability company (suggested as remedial legislation by the Department of Financial Institutions).

Date of enactment: May 5, 2010
2009 Assembly Bill 564 Date of publication*: May 19, 2010

* Section 991.11, Wisconsin Statutes 2007-08 : Effective date of acts. "Every act and every portion of an act enacted by the legislature over the governor's partial veto which does not expressly prescribe the time when it takes effect shall take effect on the day after its date of publication as designated" by the secretary of state [the date of publication may not be more than 10 working days after the date of enactment].

2009 WISCONSIN ACT 236

An Act to amend 183.0104 (2) and 183.0104 (4); and to create 183.0104 (1m) of the statutes; relating to: long-term name reservation by a limited liability company (suggested as remedial legislation by the Department of Financial Institutions).

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

Section 1 . 183.0104 (1m) of the statutes is created to read:

183.0104 (1m) A domestic limited liability company or a foreign limited liability company authorized to transact business in this state may, upon merger, change of name, or dissolution, register its company name for no more than 10 years by delivering to the department for filing an application, executed by the domestic limited liability company or foreign limited liability company, simultaneously with the delivery for filing of the articles of merger or dissolution, the articles of amendment or restated articles that change the company name or an application for an amended certificate of registration that changes the company name.

Section 2 . 183.0104 (2) of the statutes is amended to read:

183.0104 (2) A person who has the right to exclusive use of a reserved name under sub. (1) or (1m) may transfer the reservation to another person by delivering to the department a written and signed notice of the transfer that states the name and address of the transferee.

Section 3 . 183.0104 (4) of the statutes is amended to read:

183.0104 (4) A name is registered under sub. (1) , (1m), or (3) for the applicant's exclusive use on the effective date of the application.