221.0506 Fractional shares.
221.0506
221.0506 Fractional shares.221.0506(1)
(1) Issuance and disposition. A bank may do any of the following:221.0506(1)(a)
(a) Issue fractions of a share or pay in money the value of fractions of a share.221.0506(1)(b)
(b) Arrange for disposition of fractional shares by the shareholders.221.0506(2)
(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.221.0506 - ANNOT.
History: 1995 a. 336.