Wisconsin Statutes Corporations (Ch. 180 to 188) § 185.01. Definitions

(1) “Articles” means the articles of incorporation of a cooperative unless the context otherwise requires.

(1g) “Association” includes both cooperatives and foreign cooperatives.

(1m) “Board” means the board of directors of a cooperative.

(1r) “Bylaws” means the bylaws of a cooperative.

(2) “Cooperative” means an association incorporated under this chapter.

(3) “Corporation” means all corporations not associations.

(3m) “Department”, except in s. 185.45(3)(c) and (4)(b), means the department of financial institutions.

(4) “Foreign cooperative” means an association incorporated under a cooperative law of another state which has members residing within this state and which is operating on the following cooperative basis:

(5) “Member” means a person who has been qualified and accepted for membership in an association. If a cooperative has one or more classes of members not entitled to vote, “member” or “members”, as used in this chapter with respect to the right of a member to vote, voting procedure, the required proportion of member votes, actions that must or may be taken by members, the number of members required for a quorum and the eligibility of directors, means a member or members entitled to vote, unless the bylaws provide otherwise.

(6) “Membership stock” means any class of stock, continuous ownership of which is required for membership in a cooperative.

(6m) “Patronage” means business done by a patron with a cooperative and, if the bylaws provide, labor performed for a cooperative by a patron.

(7) “Security” as used in ss. 185.23 and 185.24 means any indebtedness, capital stock or other equity interest in a cooperative's assets.