§ 221.0601 Requirement for and duties of board of directors
§ 221.0602 Qualifications of directors
§ 221.0603 Number and election of directors
§ 221.0604 Election of directors by certain classes of shareholders
§ 221.0605 Terms of directors generally
§ 221.0606 Staggered terms of directors
§ 221.0607 Resignation of directors
§ 221.0608 Removal of directors by shareholders
§ 221.0609 Vacancy on board
§ 221.0610 Meetings
§ 221.06105 Board action without a meeting
§ 221.0611 Response to examination
§ 221.0612 Notice of meeting
§ 221.0613 Waiver of notice
§ 221.0614 Quorum and voting
§ 221.0615 Committees
§ 221.0616 Reliance by directors or officers
§ 221.0617 Consideration of interests in addition to shareholders’ interests
§ 221.0618 Limited liability of directors
§ 221.0619 Director conflict of interest
§ 221.0620 Officers
§ 221.0621 Duties of officers
§ 221.0622 Resignation and removal of officers
§ 221.0623 Contract rights of officers
§ 221.0624 Signature of officers
§ 221.0625 Loans to bank officials; penalty
§ 221.0626 Definitions applicable to indemnification and insurance provisions
§ 221.0627 Mandatory indemnification
§ 221.0628 Bank may limit indemnification
§ 221.0629 Allowance of expenses as incurred
§ 221.0630 Court-ordered indemnification
§ 221.0631 Determination of right to indemnification
§ 221.0632 Indemnification and allowance of expenses of employees and agents
§ 221.0633 Insurance
§ 221.0634 Additional rights to indemnification and allowance of expenses
§ 221.0635 Indemnification and insurance against securities law claims
§ 221.0636 Theft
§ 221.0637 Bank officers and employees not to take commissions

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Wisconsin Statutes > Chapter 221 > Subchapter VI - Directors, Officers and Employees

  • Acquire: when used in connection with a grant of power to any person, includes the acquisition by purchase, grant, gift or bequest. See Wisconsin Statutes 990.01
  • Acquittal:
    1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
    2. A verdict of "not guilty."
     
  • Adult: means a person who has attained the age of 18 years, except that for purposes of investigating or prosecuting a person who is alleged to have violated any state or federal criminal law or any civil law or municipal ordinance, "adult" means a person who has attained the age of 17 years. See Wisconsin Statutes 990.01
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Allegation: something that someone says happened.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Anabolic steroid: means any drug or hormonal substance, chemically or pharmacologically related to testosterone, except estrogens, progestin, and corticosteroids, that promotes muscle growth. See Wisconsin Statutes 961.01
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Arrest: Taking physical custody of a person by lawful authority.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • Bailiff: a court officer who enforces the rules of behavior in courtrooms.
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • Cannabidiol product: means a derivative or extract of the plant Cannabis sativa L. See Wisconsin Statutes 961.01
  • Civil forfeiture: The loss of ownership of property used to conduct illegal activity.
  • Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Controlled substance: means a drug, substance or immediate precursor included in schedules I to V of subch. See Wisconsin Statutes 961.01
  • Controlled substance analog: means a substance the chemical structure of which is substantially similar to the chemical structure of a controlled substance included in schedule I or II and:
         1. See Wisconsin Statutes 961.01
  • Conviction: A judgement of guilt against a criminal defendant.
  • 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.
  • Counterfeit substance: means a controlled substance which, or the container or labeling of which, without authorization, bears the trademark, trade name or other identifying mark, imprint, number or device, or any likeness thereof, of a manufacturer, distributor or dispenser other than the person who in fact manufactured, distributed or dispensed the substance. See Wisconsin Statutes 961.01
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Dentist: means a person who is licensed as a dentist under subch. See Wisconsin Statutes 990.01
  • Dependent: A person dependent for support upon another.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Dispense: means to deliver a controlled substance to an ultimate user or research subject by or pursuant to the lawful order of a practitioner, including the prescribing, administering, packaging, labeling or compounding necessary to prepare the substance for that delivery. See Wisconsin Statutes 961.01
  • Dispenser: means a practitioner who dispenses. See Wisconsin Statutes 961.01
  • Distribute: means to deliver other than by administering or dispensing a controlled substance or controlled substance analog. See Wisconsin Statutes 961.01
  • Distributor: means a person who distributes. See Wisconsin Statutes 961.01
  • Diversion: means the transfer of any controlled substance from a licit to an illicit channel of distribution or use. See Wisconsin Statutes 961.01
  • Docket: A log containing brief entries of court proceedings.
  • Drug: means any of the following:
  •          1. See Wisconsin Statutes 961.01
  • Drug enforcement administration: means the drug enforcement administration of the U. See Wisconsin Statutes 961.01
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiduciary: A trustee, executor, or administrator.
  • Fire fighter: includes a person serving under…. See Wisconsin Statutes 990.01
  • 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
  • Forbearance: A means of handling a delinquent loan. A
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Gamma-butyrolactone: means gamma-butyrolactone as packaged, marketed, manufactured, or promoted for human consumption, but does not include gamma-butyrolactone intended for use or consumption in or for mechanical, industrial, manufacturing, or scientific applications or purposes. See Wisconsin Statutes 961.01
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.
  • Highway: includes all public ways and thoroughfares and all bridges upon the same. See Wisconsin Statutes 990.01
  • Immediate precursor: means a substance which the controlled substances board has found to be and by rule designates as being the principal compound commonly used or produced primarily for use, and which is an immediate chemical intermediary used or likely to be used in the manufacture of a controlled substance, the control of which is necessary to prevent, curtail or limit manufacture. See Wisconsin Statutes 961.01
  • in writing: includes any representation of words, letters, symbols or figures. See Wisconsin Statutes 990.01
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • isomer: includes any geometric isomer; in…. See Wisconsin Statutes 961.01
  • Jail or correctional facility: means any of the following:
  •       (a)    A Type 1 prison, as defined in…. See Wisconsin Statutes 961.01
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Juror: A person who is on the jury.
  • Land: includes lands, tenements and hereditaments and all rights thereto and interests therein. See Wisconsin Statutes 990.01
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Liquid-filled pseudoephedrine gelcap: means a soft, liquid-filled gelatin capsule that is intended to be sold at retail and that contains pseudoephedrine or any of its salts, isomers, or salts of isomers. See Wisconsin Statutes 961.01
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Live birth: means the complete expulsion or extraction from his or her mother, of a human being, at any stage of development, who, after the expulsion or extraction, breathes or has a beating heart, pulsation of the umbilical cord, or definite movement of voluntary muscles, regardless of whether the umbilical cord has been cut, and regardless of whether the expulsion or extraction occurs as a result of natural or induced labor, a cesarean section, or an abortion, as defined in…. See Wisconsin Statutes 990.01
  • Manufacture: means the production, preparation, propagation, compounding, conversion or processing of, or to produce, prepare, propagate, compound, convert or process, a controlled substance or controlled substance analog, directly or indirectly, by extraction from substances of natural origin, chemical synthesis or a combination of extraction and chemical synthesis, including to package or repackage or the packaging or repackaging of the substance, or to label or to relabel or the labeling or relabeling of its container. See Wisconsin Statutes 961.01
  • Marijuana: means all parts of the plants of the genus Cannabis, whether growing or not; the seeds thereof; the resin extracted from any part of the plant; and every compound, manufacture, salt, derivative, mixture or preparation of the plant, its seeds or resin, including tetrahydrocannabinols. See Wisconsin Statutes 961.01
  • Minor: means a person who has not attained the age of 18 years, except that for purposes of investigating or prosecuting a person who is alleged to have violated a state or federal criminal law or any civil law or municipal ordinance, "minor" does not include a person who has attained the age of 17 years. See Wisconsin Statutes 990.01
  • Month: means a calendar month unless otherwise expressed. See Wisconsin Statutes 990.01
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Multiunit public housing project: means a public housing project that includes 4 or more dwelling units in a single parcel or in contiguous parcels. See Wisconsin Statutes 961.01
  • Municipality: includes cities and villages; it may be construed to include towns. See Wisconsin Statutes 990.01
  • Narcotic drug: means any of the following, whether produced directly or indirectly by extraction from substances of vegetable origin, or independently by means of chemical synthesis, or by a combination of extraction and chemical synthesis:
  •       (a)    Opium and substances derived from opium, and any compound, derivative or preparation of opium or substances derived from opium, including any of their salts, isomers and salts of isomers that are theoretically possible within the specific chemical designation. See Wisconsin Statutes 961.01
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Oath: A promise to tell the truth.
  • Oath: includes affirmation in all cases where by law an affirmation may be substituted for an oath. See Wisconsin Statutes 990.01
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Officers: when applied to corporations include directors and trustees. See Wisconsin Statutes 990.01
  • Opiate: includes opium, substances derived from opium and synthetic opiates. See Wisconsin Statutes 961.01
  • Opium poppy: means any plant of the species Papaver somniferum L. See Wisconsin Statutes 961.01
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
  • Personal property: All property that is not real property.
  • Personal property: includes money, goods, chattels, things in action, evidences of debt and energy. See Wisconsin Statutes 990.01
  • Personal representative: means a person, however denominated, who is authorized to administer a decedent's estate. See Wisconsin Statutes 990.01
  • Physician assistant: means a person who is licensed as a physician assistant under subch. See Wisconsin Statutes 990.01
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Police officer: includes a person serving under…. See Wisconsin Statutes 990.01
  • Poppy straw: means all parts, except the seeds, of the opium poppy, after mowing. See Wisconsin Statutes 961.01
  • Population: means that shown by the most recent regular or special federal census. See Wisconsin Statutes 990.01
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Practitioner: means :
  •       (a)    A physician, advanced practice nurse, dentist, veterinarian, podiatrist, optometrist, scientific investigator or, subject to…. See Wisconsin Statutes 961.01
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Preceding: when used by way of reference to any statute section, means the section next preceding that in which the reference is made. See Wisconsin Statutes 990.01
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Promulgate: when used in connection with a rule, as defined under…. See Wisconsin Statutes 990.01
  • Property: includes real and personal property. See Wisconsin Statutes 990.01
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Pseudoephedrine liquid: means a product that is intended to be sold at retail, that is a liquid at room temperature, and that contains pseudoephedrine or any of its salts, isomers, or salts of isomers. See Wisconsin Statutes 961.01
  • Pseudoephedrine product: means a material, compound, mixture, or preparation containing any quantity of pseudoephedrine or any of its salts, isomers, or salts of isomers but does not include such a product if any of the following applies:
  •       (a)    The product is a pseudoephedrine liquid or a liquid-filled pseudoephedrine gelcap. See Wisconsin Statutes 961.01
  • Psychologist: means a psychologist who is licensed under…. See Wisconsin Statutes 990.01
  • Public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
  • Public housing project: means any housing project or development administered by a housing authority, as defined in…. See Wisconsin Statutes 961.01
  • Qualified: when applied to any person elected or appointed to office, means that such person has done those things which the person was by law required to do before entering upon the duties of the person's office. See Wisconsin Statutes 990.01
  • Quorum: The number of legislators that must be present to do business.
  • Registered nurse: includes a registered nurse who holds a multistate license, as defined in…. See Wisconsin Statutes 990.01
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • seal: includes the word "seal" the letters "L S" and a scroll or other device intended to represent a seal, if any is affixed in the proper place for a seal, as well as an impression of a seal on the instrument. See Wisconsin Statutes 990.01
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to states of the United States, includes the District of Columbia, the commonwealth of Puerto Rico and the several territories organized by Congress. See Wisconsin Statutes 990.01
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Subpoena: A command to a witness to appear and give testimony.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Sworn: includes "affirmed" in all cases where by law an affirmation may be substituted for an oath. See Wisconsin Statutes 990.01
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Town: may be construed to include cities, villages, wards or districts. See Wisconsin Statutes 990.01
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.
  • Ultimate user: means an individual who lawfully possesses a controlled substance for that individual's own use or for the use of a member of that individual's household or for administering to an animal owned by that individual or by a member of that individual's household. See Wisconsin Statutes 961.01
  • United States: includes the District of Columbia, the states, the commonwealth of Puerto Rico and the territories organized by congress. See Wisconsin Statutes 990.01
  • Vehicle: has the meaning given in…. See Wisconsin Statutes 961.01
  • Verdict: The decision of a petit jury or a judge.
  • Village: means incorporated village. See Wisconsin Statutes 990.01
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
  • Year: means a calendar year, unless otherwise expressed; "year" alone means "year of our Lord". See Wisconsin Statutes 990.01
  • Youth center: means any center that provides, on a regular basis, recreational, vocational, academic or social services activities for persons younger than 21 years old or for those persons and their families. See Wisconsin Statutes 961.01