181.0802 History History: 1997 a. 79.
181.0803 181.0803 Number of directors.
181.0803(1) (1)Minimum number. A board shall consist of 3 or more individuals, with the number specified in or fixed in accordance with the articles of incorporation or bylaws.
181.0803(2) (2)Changes in board size. The number of directors may be increased or, subject to sub. (1), decreased from time to time by amendment to, or in the manner provided in, the articles of incorporation or bylaws.
181.0803 History History: 1997 a. 79.
181.0804 181.0804 Election, designation and appointment of directors.
181.0804(1)(1)Corporation with members. If the corporation has members, all of the directors except the initial directors shall be elected at the first annual meeting of members, and at each annual meeting thereafter, unless the articles of incorporation or bylaws provide some other time or method of election, or provide that some of the directors are appointed by some other person or are designated.
181.0804(2) (2)Corporation without members. If the corporation does not have members, all of the directors except the initial directors shall be elected, appointed or designated as provided in the articles of incorporation or bylaws. If no method of designation or appointment is set forth in the articles of incorporation or bylaws, the directors other than the initial directors shall be elected by the board.
181.0804 History History: 1997 a. 79.
181.0805 181.0805 Terms of directors generally.
181.0805(1) (1)In general. The articles of incorporation or bylaws shall specify the term of a director. In the absence of any term specified in the articles of incorporation or bylaws, the term of a director shall be one year. Directors may be elected for successive terms.
181.0805(2) (2)Effect of changes on incumbent. A decrease in the number of directors or term of office does not shorten an incumbent director's term.
181.0805(3) (3)Vacancies. Except as provided in the articles of incorporation or bylaws, the term of a director filling a vacancy in the office of a director elected by members expires at the next election of directors by members and the term of a director filling any other vacancy expires at the end of the unexpired term that the director is filling.
181.0805(4) (4)Service after expiration of term. Except as provided in the articles of incorporation or bylaws, despite the expiration of a director's term, the director continues to serve, subject to ss. 181.0807 to 181.0810, until the director's successor is elected, designated or appointed and qualifies, or until there is a decrease in the number of directors.
181.0805 History History: 1997 a. 79.
181.0806 181.0806 Staggered terms for directors. Directors may be divided into classes and the terms of office of the several classes need not be uniform.
181.0806 History History: 1997 a. 79.
181.0807 181.0807 Resignation of directors.
181.0807(1) (1)Notice. A director may resign at any time by delivering written notice to the presiding officer of the board or to the president or secretary.
181.0807(2) (2)When effective. A resignation is effective when the notice is received unless the notice specifies a later effective date. If a resignation is made effective at a later date, the board may make the effective date earlier and fill the pending vacancy before the effective date if the board provides that the successor does not take office until the effective date.
181.0807 History History: 1997 a. 79.
181.0808 181.0808 Removal of directors elected by members or directors. Except as otherwise provided in the articles of incorporation or bylaws of a corporation, all of the following apply:
181.0808(1) (1)Removal in general. The members may remove, with or without cause, one or more directors elected by them.
181.0808(2) (2)Removal of directors elected by group. If a director is elected by a class, chapter or other organizational unit or by region or other geographic grouping, the director may be removed only by the members of that class, chapter, unit or grouping.
181.0808(3) (3)Number of votes needed to remove. Except as provided in sub. (8), a director may be removed under sub. (1) or (2) only if the number of votes cast to remove the director would be sufficient to elect the director at a meeting to elect directors.
181.0808(4) (4)Cumulative voting. If cumulative voting is authorized, a director may not be removed if the number of votes, or if the director was elected by a class, chapter, unit or grouping of members, the number of votes of that class, chapter, unit or grouping, sufficient to elect the director under cumulative voting is voted against the director's removal.
181.0808(5) (5)Meeting. A director elected by members may be removed by the members only at a meeting called for the purpose of removing the director and the meeting notice must state that the purpose, or one of the purposes, of the meeting is removal of the director.
181.0808(6) (6)Entire board. An entire board may be removed under subs. (1) to (5).
181.0808(7) (7)Board-elected directors. A director elected by the board may be removed without cause by the vote of a majority of the directors then in office or such other number as is set forth in the articles of incorporation or bylaws. However, a director elected by the board to fill the vacancy of a director elected by the members may be removed without cause by the members, but not the board.