Wisconsin § 221.0507 Share dividends.

Wisconsin Statutes

§ 221.0507 — Share dividends.

Wisconsin § 221.0507

Ch. 221State banks

Subch.subch. V of ch. 221 SUBCHAPTER V

SHARES AND SHAREHOLDERS

This text of Wisconsin § 221.0507 (Share dividends.) is published on Counsel Stack Legal Research, covering Wisconsin primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wis. Stat. § 221.0507 (2026).

Text

221.0507 221.0507(1) (1) Definition. In this section, “share dividend” means shares issued proportionally and without consideration to the bank’s shareholders or to the shareholders of one or more classes or series. 221.0507(2) (2) Power to issue share dividends. Except as provided in sub.

(3)and unless the articles of incorporation provide otherwise, a bank may issue share dividends. 221.0507(3) (3) Limitations. 221.0507(3)(a) (a) A bank may not issue shares of one class or series as a share dividend in respect of shares of another class or series unless any of the following is satisfied: 221.0507(3)(a)1. 1. The articles of incorporation authorize the issuance. 221.0507(3)(a)2. 2. A majority of the votes entitled to be cast by the class or series to be issued approve the issuance. 221.05

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221.0507
221.0507(1) (1) Definition. In this section, “share dividend” means shares issued proportionally and without consideration to the bank’s shareholders or to the shareholders of one or more classes or series.
221.0507(2) (2) Power to issue share dividends. Except as provided in sub. (3) and unless the articles of incorporation provide otherwise, a bank may issue share dividends.
221.0507(3) (3) Limitations.
221.0507(3)(a) (a) A bank may not issue shares of one class or series as a share dividend in respect of shares of another class or series unless any of the following is satisfied:
221.0507(3)(a)1. 1. The articles of incorporation authorize the issuance.
221.0507(3)(a)2. 2. A majority of the votes entitled to be cast by the class or series to be issued approve the issuance.
221.0507(3)(a)3. 3. There are no outstanding shares of the class or series to be issued, as determined under par. (b) .
221.0507(3)(b) (b) If a security is outstanding that is convertible into or carries a right to subscribe for or acquire shares of the class or series to be issued, the holder of the security is considered a holder of the class or series to be issued for purposes of making the determination under par. (a) 3.
221.0507(4) (4) Record date. If the board of directors does not fix the record date for determining shareholders entitled to a share dividend, it is the date on which the board of directors authorizes the share dividend.