186.10 Minors’ rights; shares in trust.
119 words·~1 min read·
/wi/chapter-186/186-10-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
186.10 Minors’ rights; shares in trust.
(1)Minors’ shares. Shares may be issued in the name of a minor, and may be withdrawn by such minor or by the minor’s agent under subch. I of ch. 705 . Minors’ eligibility to vote at the meetings of the members is at the discretion of the board of directors.
(2)Shares in trust. Shares may be issued in trust, subject to any conditions prescribed in the bylaws. Share accounts and deposit accounts may be held by a member in trust for a beneficiary, held by a nonmember in trust for a beneficiary who is a member or held by a nonmember custodian for a member under ss. 54.854 to 54.898 .