185.21 Stock; authorization, issuance, control, use, rights.
92 words·~1 min read·
/wi/chapter-185/185-21A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
185.21 Stock; authorization, issuance, control, use, rights.
(1)A cooperative may be organized with or without capital stock.
(2)A cooperative organized with capital stock may issue the amount of stock stated in its articles. Such stock may be divided into 2 or more classes with such designations, preferences, limitations, and relative rights as shall be stated in the articles, except that:
(a)Stock as such has no voting power, except as stated in ss. 185.52 , 185.61 and 185.63 ;
(b)Stock without par value shall not be authorized or issued;