From here: http://dnr.wi.gov/fish/faq/posses.htm
What is the possession limit? How does it vary from the bag limit?
Answer: The possession limit is the maximum number of a species that you can control, transport, etc., at any time. It is twice the daily bag limit.
The daily bag limit is the maximum number that you can keep in one day (i.e., 12:00 AM to 11:59 PM) of fishing. Fish not immediately released (i.e., prior to transport) are part of an angler's daily bag limit. An angler may not possess in excess of the daily bag limit for the water while on the waters, banks or shores of that water.
For example, if the daily bag limit for a species is 5, the most you could possess or control (i.e., in your freezer, cooler, vehicle, etc.) would be 10, no matter how many days you fished. Therefore, you could only bring home your possession limit of 10.
Once you reach your limit for a species, you must stop fishing for that species. This includes catch and release.
Exceptions:
•In the ceded territory, no person may exceed a total daily bag limit of 5 walleyes and no person may possess more than the possession limit of 10 walleyes. This enables anglers to fish multiple lakes with reduced bag limits. For example, if you fish a lake in the ceded territory with a bag limit of 3 walleye, you may then go on to a lake with a reduced bag limit and catch and harvest 2 more walleye. Thus, you would remain within the daily bag limit of 5 walleye. The possession limit remains 10 walleye.
•Also in the ceded territory, no person may possess fish on any water in excess of the daily bag limit or under the size limit for that water while fishing. Basically, this allows anglers to transport fish across waters with reduced daily bag lmits as long as they do not stop and fish.
Looks to me, if you are going to have more than 4 walleyes/person in the freezer, you better have the name of a nearby lake memorized, that has a 5-bag limit, just in case the possesion police show up!
HRG