Statutes > Wisconsin Statutes > Chapter 215. Savings and loan associations. > 215.51 Officers of a mutual association.

215.51 Officers of a mutual association.

215.51

215.51 Officers of a mutual association.

215.51(1)

(1) General officers.

215.51(1)(a)

(a) The general officers of a mutual association shall be:

215.51(1)(a)1.

1. A president;

215.51(1)(a)2.

2. One or more vice presidents;

215.51(1)(a)3.

3. A secretary;

215.51(1)(a)4.

4. A treasurer; and

215.51(1)(a)5.

5. Such other officers as the directors by resolution designate.

215.51(1)(b)

(b) The president shall also be a director.

215.51(2)

(2) When elected. Immediately following each annual meeting of members, the directors shall convene and elect general officers for the ensuing year, in accordance with the bylaws.

215.51(3)

(3) Duties of officers. The officers shall, in addition to the duties and functions prescribed in the articles of incorporation and the bylaws, perform such other duties as are delegated by the directors.

215.51(4)

(4) Filling vacancies. Whenever any vacancy occurs in any general office, the directors shall, as soon as practicable, fill such vacancy by an election for the then unexpired term.

215.51 - ANNOT.

History: 1975 c. 359 ss. 20, 51; Stats. 1975 s. 215.51; 1983 a. 167.