214.30 Membership.
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/wi/chapter-214/214-30-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
214.30 Membership.
(a)A holder of a deposit account issued by a mutual savings bank shall be a member of the mutual savings bank. Joint ownership of an account constitutes one membership.
(b)A member has the right to share in the net profit of a mutual savings bank, after payment of creditors, if the savings bank liquidates. This right does not permit a member to claim a share of net profits absent a liquidation and does not permit a member to seek liquidation except in any manner permitted by the mutual savings bank’s articles of incorporation or bylaws.
(2)An owner of stock in a stock savings bank shall be an owner of the stock savings bank. Joint ownership of stock constitutes one ownership.