Skip to main content
Find a Lawyer

Wisconsin Statutes Transportation (Ch. 189 to 195) § 193.705. Restated value of previous contributions

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) Definition. In this section, “old contributions” means all contributions reflected in the required records of a cooperative immediately before the time the cooperative accepts a new contribution.

(2) Restatement required. If a cooperative accepts a new contribution, the board shall restate the value of all old contributions.

(3) Restatement method for same series or class. (a) Unless otherwise provided in the articles or bylaws, the board shall restate the value of old contributions of the same series or class of the new contribution by following all of the following steps in numerical order:

1. State the value accorded to the new contribution under s. 193.701(3)(a).

2. Determine what the total value will be, after the restatement under this subsection, of all contributions of same series or class as the new contribution.

3. Subtract the value stated under subd. 1. from the value determined under subd. 2., yielding the total value, after the restatement under this subsection, of all the old contributions of the particular series or class.

4. Subtract the value, as reflected in the required records before the restatement under this subsection, of the old contributions from the value determined under subd. 3., yielding the value to be allocated among and added to the old contributions of the particular series or class.

5. Allocate the value determined under subd. 4. proportionally among the old contributions of the particular series or class, add the allocated values to the values of those old contributions, and change the required records accordingly.

(b) The values determined under par. (a)4. and allocated and added under par. (a)5. may be positive, negative, or zero.

(4) Restatement method for different series or class. Unless otherwise provided in the articles or bylaws, the board shall restate the value of old contributions of a series or class different from that of the new contribution by following all of the following steps in alphanumerical order:

(a) Determine the percentage by which any restatement under sub. (3) has changed the total contribution value reflected in the required records for the series or class of the new contribution.

(b) As to each old contribution of a different series or class, change the value reflected in the required records by the percentage determined under par. (a). The percentage determined under par. (a) may be positive, negative, or zero.

(5) Aggregating new contributions. If a cooperative accepts more than one new contribution of the same series or class at the same time, then for the purpose of the restatement required by this section the board may consider all such new contributions as if they were a single contribution.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Wisconsin Statutes Transportation (Ch. 189 to 195) § 193.705. Restated value of previous contributions - last updated January 01, 2025 | https://codes.findlaw.com/wi/transportation-ch-189-to-195/wi-st-193-705/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard