Wisconsin Statutes 186.06 – Membership meetings, fiscal year
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Terms Used In Wisconsin Statutes 186.06
- 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.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Officers: when applied to corporations include directors and trustees. See Wisconsin Statutes 990.01
- Year: means a calendar year, unless otherwise expressed; "year" alone means "year of our Lord". See Wisconsin Statutes 990.01
(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.