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180.1022 Bylaw fixing quorum or voting requirements for directors.

WI Stat § 180.1022 (2019) (N/A)
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180.1022 Bylaw fixing quorum or voting requirements for directors.

(1) A bylaw that fixes a greater or lower quorum requirement or a greater voting requirement for the board of directors may be amended or repealed as follows:

(a) If originally adopted by the shareholders, only by the shareholders, unless the bylaw provides otherwise under sub. (2).

(b) If originally adopted by the board of directors, either by the shareholders or by the board of directors.

(2) A bylaw adopted or amended by the shareholders that fixes a greater or lower quorum requirement or a greater voting requirement for the board of directors may provide that it may be amended or repealed only by a specified vote of either the shareholders or the board of directors.

(3) Action by the board of directors to adopt or amend a bylaw that changes the quorum or voting requirement for the board of directors must meet the same quorum requirement and be adopted by the same vote required to take action under the quorum and voting requirement then in effect, unless a different voting requirement is specified under sub. (2).

History: 1989 a. 303.

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180.1021 Bylaw fixing quorum or voting requirements for shareholders.
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