185.53 Filing and recording amendments; effect thereof.

194 words·~1 min read·/wi/chapter-185/185-53

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Amendments to articles shall be signed by the president or a vice president and the secretary or an assistant secretary, shall be sealed with the cooperative’s seal, and shall set forth:

(a)The name of the cooperative, and the county of the cooperative’s principal office or of its registered agent.

(b)The amendment and date of adoption.

(c)The number of members.

(d)The number of member votes cast for and against the amendment.

(e)If affected stockholders have the right to vote under s. 185.52 , the number of votes of affected stockholders cast for and against the amendment.

(2)The amendment shall be filed and recorded as provided in s. 185.82 . The amendment becomes effective upon filing, and the department may then issue a certificate of amendment.

(3)No amendment may affect any existing cause of action or proceeding to which the cooperative is a party, or existing rights of persons other than members or stockholders.

(4)No action may be maintained to invalidate any amendment because of the manner of its adoption unless commenced within 2 years after the date of filing.