612.12 Voting rights of members.

316 words·~1 min read·/wi/chapter-612/612-12-4

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

(1)Matters subject to vote. Members of town mutuals shall have the right to vote on the following matters:

(a)Election of directors;

(b)Amendment of articles;

(c)Merger, transfer of business under s. 612.24 , conversion and voluntary dissolution;

(d)Any decision by the town mutual to transact insurance for which reinsurance is required under s. 612.33

(2), unless such insurance is totally reinsured; and

(e)Other matters specified in the articles or bylaws.

(2)Special notices and majorities. No resolution on any of the matters specified in sub.

(c)or

(d)is effective unless notice of the matter has been given as required for a special meeting under s. 612.11

(b); nor unless it is approved by at least 25 members and by two-thirds of the members voting on the resolution.

(3)Nominating procedures. The articles or bylaws may provide for nominating committees, and for their procedures. Nominations from the floor may not be excluded.

(4)Voting procedures.

(a)Allocation of votes. Except under s. 612.10

(1), each member is entitled to one vote. No person may have more than one vote regardless of the number of policies issued to that person.

(b)Proxies. No member may vote by proxy.

(c)Mail voting. The articles or bylaws may provide that votes may be cast by mail, and may prescribe the voting procedure. If voting by mail is authorized, a ballot shall be sent to each member at least 30 days before the meeting at which the decision is to be made, setting out the exact question to be voted upon. A vote signed by a member and delivered before the meeting in accordance with the prescribed voting procedure is equivalent to a vote at the meeting. No question on which there is voting by mail may be amended in any way at the meeting.