Free Wisconsin Convertible Promissory Note Forms

Wisconsin Convertible Promissory Note Overview

A convertible promissory note in Wisconsin is a debt instrument commonly used in startup financing that converts into equity upon a triggering event. As a security, it must comply with both federal regulations (SEC Rule 506 under Regulation D) and Wisconsin's state securities laws. The primary state exemption is: Section 551.23 exemption.

Wisconsin requires Form D filing required when issuing convertible notes. The state provides standard protections for note holders through its securities regulatory framework. The interest rate must comply with Wisconsin's 5% usury limit, though most convertible note rates (2-8%) fall well below this threshold. Companies should work with an attorney familiar with Wisconsin securities law to ensure full compliance.

Wisconsin Requirements

Wisconsin has specific requirements for convertible promissory notes that both parties should understand before entering into the agreement.

• Interest Rate: Must not exceed Wisconsin's usury limit of 5%
• Written Agreement: Must be in writing and signed by the borrower (maker)
• Clear Terms: Principal amount, interest rate, payment schedule, and maturity date must be clearly stated
• Default Terms: Late fees, grace periods, and acceleration clause must comply with Wisconsin law
• Governing Law: The note should specify Wisconsin as the governing jurisdiction

How to Create a Wisconsin Convertible Promissory Note

Follow these steps to create a Wisconsin-compliant convertible promissory note using our template.

Securities Compliance in Wisconsin

When issuing convertible promissory notes in Wisconsin, you must comply with the state securities exemption (Section 551.23 exemption), file the required Form D filing required, ensure the interest rate stays within the 5% usury limit, and follow Wisconsin's investor protection requirements (standard protections). Federal Form D must be filed with the SEC within 15 days of the first sale. Our Wisconsin-specific template ensures compliance with both state and federal securities regulations.

Wisconsin Convertible Promissory Note FAQ

Answers to common questions about convertible promissory notes in Wisconsin.

Official Wisconsin Resources

Use these official resources to verify Wisconsin requirements for your convertible promissory note.

Other Wisconsin Promissory Note Types

Need a different type of promissory note for Wisconsin? We offer state-specific templates for every type of promissory note.