WI crowdfunding law takes effect on Sunday - WKOW 27: Madison, WI Breaking News, Weather and Sports

WI crowdfunding law takes effect on Sunday

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MADISON (AP) -- Fledgling Wisconsin companies can sell stocks online through Internet crowdfunding sites starting on Sunday.

The Legislature unanimously passed the law last year, and Governor Scott Walker signed the bill allowing for the sale of stocks through crowdfunding.

Patricia Struck, administrator of the state Department of Financial Institution's Division of Securities, encourages consumers to make sure the investment is right for them.

Supporters of the new law say it's a simple way to help small businesses by opening them up to a wide pool of potential investors.

Most consumers will be limited to investing $10,000 in a single crowdfunding offering.

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