2011 Wisconsin Laws 221.0605 – Terms of directors generally
Current as of: 2011 | Check for updates
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221.0605(2)
(2) Effect of decrease in number. A decrease in the number of directors may not shorten an incumbent director’s term.
221.0605
221.0605 Terms of directors generally.
221.0605(1)
(1) Expiration of term. The terms of the directors of a bank, including the initial directors, expire at the next annual shareholders’ meeting unless their terms are staggered under § 221.0606.
221.0605(3)
(3) Effect of expiration of term. Despite the expiration of a director’s term, the director shall continue to serve, subject to §§ 221.0607 and 221.0608, until his or her successor is elected and, if necessary, qualifies or until there is a decrease in the number of directors.