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Wisconsin Statutes Corporations (Ch. 180 to 188) § 186.06. Membership meetings, fiscal year

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) Manner of meeting. The annual meeting and any special meeting of the members of a credit union shall be held in the manner provided by the bylaws.

(1m) Voting. At a meeting, each member shall have one vote irrespective of the member's share total. Except as provided in sub. (2), a member may not vote by proxy.

(2) Representation. An organization, association or corporation member of a credit union may be represented by and have its vote cast by an authorized representative of its members or owners.

(2m) Voting eligibility. The bylaws shall prescribe the terms by which a member is eligible to vote at a meeting.

(3) Meeting issues. (a) At any meeting, if the notice so indicates, a majority of the members present may direct the board of directors to do any of the following:

1. Consider implementing any policy proposed by the members.

2. Reconsider any decision of the directors, officers or committees.

(b) At any meeting, if the notice so indicates, the members may, by a three-fourths vote of the members present, do any of the following:

1. Remove any member of the board of directors.

2. Amend the bylaws.

(4) Fiscal year. The fiscal year of every credit union shall end at the close of business on December 31.

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Cite this article: FindLaw.com - Wisconsin Statutes Corporations (Ch. 180 to 188) § 186.06. Membership meetings, fiscal year - last updated January 01, 2025 | https://codes.findlaw.com/wi/corporations-ch-180-to-188/wi-st-186-06/

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