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221.0508 Form and content of certificates.

WI Stat § 221.0508 (2019) (N/A)
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221.0508 Form and content of certificates.

(1) Contents. At a minimum, a share certificate shall state on its face all of the following:

(a) The name of the issuing bank and that the bank is organized under the laws of this state.

(b) The name of the person to whom issued.

(c) The number and class of shares and the designation of the series, if any, that the certificate represents.

(2) Classes and series requirements. If the issuing bank is authorized to issue different classes of shares or different series within a class, the front or back of each certificate shall contain any of the following:

(a) A summary of the designations, relative rights, preferences and limitations applicable to each class, and the variations in rights, preferences and limitations determined for each series and the authority of the board of directors to determine variations for future series.

(b) A conspicuous statement that the bank will furnish the shareholder the information described in par. (a) on request, in writing and without charge.

(3) Signature.

(a) Each share certificate shall be signed either manually or in facsimile, by the officer or officers designated in the bylaws or by the board of directors.

(b) The validity of a share certificate is not affected if a person who signed the certificate no longer holds office when the certificate is issued.

History: 1995 a. 336.

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