186.06 Membership meetings, fiscal year.
(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.
History: 1971 c. 193; 1973 c. 255; 1979 c. 282; 1981 c. 156; 1983 a. 369; 1995 a. 151; 2003 a. 63.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
