221.0705 Definitions.

WI Stat § 221.0705 (2019) (N/A)

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221.0705 Definitions. In ss. 221.0705 to 221.0718:

(1) “Bank" means the issuer bank or, if a corporate action giving rise to dissenters' rights under s. 221.0706 is a merger or share exchange that has been effectuated, the surviving bank of the merger or the acquiring corporation or bank of the share exchange.

(2) “Beneficial shareholder" means a person who is a beneficial owner of shares held by a nominee as the shareholder.

(3) “Dissenter" means a shareholder or beneficial shareholder who is entitled to dissent from corporate action under s. 221.0706 and who exercises that right when and in the manner required by ss. 221.0709 to 221.0716.

(4) “Fair value", with respect to a dissenter's shares, means the value of the shares immediately before the effectuation of the corporate action to which the dissenter objects, excluding any appreciation or depreciation in anticipation of the corporate action unless the exclusion would be inequitable.

(5) “Interest" means interest from the effectuation date of the corporate action until the date of payment, at a rate that is fair and equitable under all of the circumstances.

(6) “Issuer bank" means a bank that is the issuer of the shares held by a dissenter before the corporate action.

History: 1995 a. 336.

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221.0706 Right to dissent.