Wisconsin Statutes 182.0135 – Public utility corporation directors; not to delegate duty to manage; removal by commission
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Terms Used In Wisconsin Statutes 182.0135
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Property: includes real and personal property. See Wisconsin Statutes 990.01
(1) The directors of corporations which are public utilities shall not, directly or indirectly, delegate or in any manner, temporarily or permanently, relinquish or surrender their duty to manage and direct the stock, property, affairs and business of such corporation.
(2) Any director violating the provisions of this section may be removed by the public service commission, after notice and hearing. If a director of a public utility is removed by the commission, the director shall be ineligible for a period of 2 years to serve as a director of said public utility.
(3) This section does not apply to a telecommunications utility, as defined in s. 196.01 (10).