221.0504 Number of shareholders. (1) METHOD OF COUNTING. For purposes of this chapter, any of the following constitutes one shareholder if identified as a shareholder in a bank’s current record of shareholders: (a) Three or fewer co-owners. (b) An entity. (c) The trustees, guardians, custodians or other fiduciaries of a single trust, estate or account. (2) SUBSTANTIALLY SIMILAR NAMES. For purposes of this chapter, shareholdings registered in substantially similar names constitute one shareholder if it is reasonable to believe that the names represent the same person. History: 1995 a. 336.
221.0505
Issued and outstanding shares. (1) ISSUED A bank may issue the number of shares of each class or series authorized by the articles of incorporation. Shares that are issued are outstanding shares until they are reacquired, redeemed, converted or canceled. (2) SHARE REQUIREMENTS. At all times that shares of the bank are outstanding, there must be outstanding one or more shares that together have unlimited voting rights and one or more shares, which may be the same share or shares as those with unlimited voting rights, that together are entitled to receive the net assets of the bank upon dissolution. AND OUTSTANDING SHARES.
History: 1995 a. 336. to be issued, the holder of the security is considered a holder of the class or series to be issued for purposes of making the determination under par. (a) 3. (4) RECORD DATE. If the board of directors does not fix the record date for determining shareholders entitled to a share dividend, it is the date on which the board of directors authorizes the share dividend. History: 1995 a. 336.