This Closing Statement is for a real estate transaction where the transaction is a cash sale or provides for owner financing. This settlement statement is verified and signed by both the seller and the buyer.
Wisconsin Business Closing Law
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In factories and mercantile establishments, Wisconsin sets limits in which employees must have one day of rest somewhere in a seven-day workweek, by the "One Day of Rest in Seven" law. This law also exempts certain specific employments from coverage.
Covered employers must provide written notice 60 calendar days in advance of a business closing or mass layoff or reduction in hours. An employer may provide notice that is contingent on the occurrence or nonoccurrence of an event, such as the renewal of a contract (excluding labor contracts).
Worker Adjustment and Retraining Notification Act (WARN) (29 USC 2100 et. seq.) - Protects workers, their families and communities by requiring most employers with 100 or more employees to provide notification 60 calendar days in advance of plant closings and mass layoffs.
The federal Worker Adjustment and Retraining Act (WARN), 20 C.F.R. § 639, was enacted to provide employees with sufficient advance notice of plant closings and mass layoffs so that they could seek other employment or retraining opportunities.
WARN Act - Overview. WARN protects employees, their families, and communities by requiring employers to give a 60-day notice to the affected employees and both state and local representatives before a plant closing or mass layoff.