221.0506 Fractional shares.
(1) Issuance and disposition. A bank may do any of the following:
(a) Issue fractions of a share or pay in money the value of fractions of a share.
(b) Arrange for disposition of fractional shares by the shareholders.
(2) Rights of holders of fractional shares. The holder of a fractional share may exercise the rights of a shareholder, including the right to vote, to receive dividends and to participate in the assets of the bank upon liquidation.
History: 1995 a. 336.
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