214.265 Temporary organization and capital subscriptions.
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/wi/chapter-214/214-265-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
214.265 Temporary organization and capital subscriptions.
(a)If the division approves an application to organize, the division shall issue to the incorporators a certificate of authority to effect a temporary organization.
(b)Under a temporary organization, the incorporators shall do all of the following:
1. Elect directors and a chairperson, secretary and treasurer.
2. Conduct meetings.
3. If a stock savings bank open subscription books for the sale of stock.
4. Open subscription books for deposit accounts.
(2)During the temporary organization, incorporators of a savings bank may exercise such other powers as are conferred upon the incorporators of other corporations, if those powers are not in conflict with this chapter.