Wisconsin Statutes 180.0805 – Terms of directors generally
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Wisconsin Statutes 180.0805
- 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.
(1) The terms of the directors of a corporation, including the initial directors, expire at the next annual shareholders’ meeting unless their terms are staggered under s. 180.0806.
(2) A decrease in the number of directors may not shorten an incumbent director’s term.
(3) Despite the expiration of a director’s term, the director shall continue to serve, subject to ss. 180.0807, 180.0808 and 180.0809, until his or her successor is elected and, if necessary, qualifies or until there is a decrease in the number of directors.