reglab/housing_qa huggingface dataset:
WI Stat § 193.551 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.551 - Patron member voting based on patronage.

193.551  Patron member voting based on patronage. (1) Additional vote permitted.  (a) The articles or bylaws may authorize patron members to have an additional vote in determining the collective vote of patron members under s. 193.545 (1) (a) as provided in this subsection.(b) The articles or bylaws may grant a patron member an additional vote under par. (a) if the issue to be voted upon relates to a specified amount of business transacted between the patron member and the cooperative.(c) The articles or bylaws may grant additional votes under par. (a) to a specified number of patron members who are also patron members of another cooperative that is itself a member of the cooperative.(d) The articles or bylaws may grant additional votes under par. (a) to a patron member that is a cooperative, based on the amount of equity allocated to or held by the patron member in the cooperative. (2)  Additional votes for delegates.  (a) For a cooperative with districts or other units of patron members, the articles or bylaws may authorize a delegate elected by patron members to have additional votes as provided in this subsection in determining the collective vote of patron members under s. 193.545 (1) (a).(b) The articles or bylaws may grant a delegate an additional vote under par. (a) based on a specified amount of business transacted between the patron members represented by the delegate and the cooperative.(c) The articles or bylaws may grant a delegate an additional vote under par. (a) based upon the amount of equity allocated to or held by the patron members represented by the delegate.History:  2005 a. 441.
WI Stat § 193.553 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.553 - Voting rights limited to members as of date certain.

193.553  Voting rights limited to members as of date certain. The board may establish a date for the determination of membership interests entitled to notice of and entitled to vote at a members' meeting. The date established by the board may not be more than 60 days before the date of the meeting. If a date is established under this subsection, only members as of that date are entitled to notice of and may vote at that meeting.History:  2005 a. 441.
WI Stat § 193.555 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.555 - Voting rights of nonmembers.

193.555  Voting rights of nonmembers. The articles or bylaws may authorize any nonmember or class of nonmembers to vote at a members' meeting in the same manner as patron members are permitted to vote. The articles or bylaws may prescribe the manner by which persons are authorized to vote under this section.History:  2005 a. 441.
WI Stat § 193.557 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.557 - Voting of jointly owned membership interests.

193.557  Voting of jointly owned membership interests. If a membership interest is owned jointly by 2 or more persons, any one of the owners may vote based upon that membership interest, unless the cooperative receives written notice from any of the owners denying the authority of that person to vote based upon that membership interest.History:  2005 a. 441.
WI Stat § 193.559 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.559 - Cumulative voting by members.

193.559  Cumulative voting by members. Except as provided in ss. 193.411 (4m) and 193.557, a member with more than one vote that is entitled to vote may allocate the member's votes in any way the member chooses. If such a member votes without designating an allocation, the member is considered to have voted all of the member's votes in that way.History:  2005 a. 441.
WI Stat § 193.561 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.561 - Voting by business entities, subsidiaries, legal representatives, and holders of security interests.

193.561  Voting by business entities, subsidiaries, legal representatives, and holders of security interests. (1) Membership interests held by a business entity. If a member entitled to vote is a business entity, the chairperson of the board, chief executive officer, or other authorized agent of the member may cast the member's votes. (2)  Membership interest held by subsidiary of cooperative. Except as provided in the articles or bylaws or sub. (3), if a member is a subsidiary of the cooperative, the member may not vote. (3)  Membership interest held in fiduciary capacity by cooperative. Membership interests held in a fiduciary capacity by the cooperative or a subsidiary of the cooperative are not entitled to vote, except to the extent that the settlor or beneficiary is entitled to vote and either exercises the right to vote or instructs the cooperative or subsidiary on how to vote. (4)  Membership interest controlled by certain representatives. Except as provided in subs. (3) and (5), if a person, in the capacity of a personal representative, administrator, executor, guardian, or conservator, or in a similar capacity, controls the membership interest of a member entitled to vote, the person may vote on behalf of the member. (5)  Membership interest controlled by trustee in bankruptcy or receiver. If a trustee in bankruptcy or a receiver controls the membership interest of a member entitled to vote, the trustee or receiver may vote on behalf of the member if authorized to do so by the court appointing the trustee or receiver. (7)  Holders of security interest. The granting of a security interest in a membership interest does not entitle the holder of the security interest to vote.History:  2005 a. 441.
WI Stat § 193.571 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.571 - Member authority concerning certain cooperative property.

193.571  Member authority concerning certain cooperative property. Except as provided in s. 193.443, a cooperative may sell, lease, transfer, or otherwise dispose of all or substantially all of its property and assets, including its good will, not in the usual and regular course of its business, upon those terms and conditions that the board considers expedient, when approved by the affirmative vote of the members owning a majority of the voting power of the interests entitled to vote and by the board. Notwithstanding s. 193.511 (6), 193.515 (3), and 193.553, written notice of any members' meeting at which a vote will be taken under this section shall be given to all members. The written notice shall state that a purpose of the meeting is to consider the sale, lease, transfer, or other disposition of all or substantially all of the property and assets of the cooperative.History:  2005 a. 441.
WI Stat § 193.605 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.605 - Cooperative securities.

193.605  Cooperative securities. (1) Applicability of ch. 408 to cooperative securities. To the extent that the provisions of this chapter concerning the authorization, issuance, control, use, and rights of membership interests or concerning the stock of a cooperative are inconsistent with ch. 408, the provisions of this chapter apply. (2)  Liability of cooperative for wrongful transfers of its securities.  (a) In this subsection:1. “Proper person" means the registered owner or last prior transferee, whether or not described as fiduciary for another, or his or her authorized agent or legal representative or the successor to his or her interest by operation of law.2. “Transfer" includes a redemption or recall of stock.3. “Wrongful transfer" means a transfer which is in excess of the authorization or capacity of the transferor, or which is made in breach of the transferor's fiduciary duty.(b) A cooperative may not be held liable for acting upon wrongful transfers of its securities which are not “securities" as defined in s. 408.102, unless it has notice that the certificate was not transferred by a proper person or has notice that the transfer was a wrongful transfer. (3)  Missing securities or records.  (a) When a security issued by a cooperative, which is not a “security" as defined in s. 408.102, is missing, the cooperative shall issue a duplicate security if the owner so requests and furnishes an indemnity acceptable to the cooperative.(b) When records showing ownership of securities or apportionment of equity or membership interests are missing and the information therein contained is necessary to a proposed redemption of the interest, the cooperative may give notice and redeem by satisfying all of the following:1. The cooperative shall set aside an amount equal to the value of the interests to be redeemed.2. The cooperative shall give notice of such redemption to all owners of interests of which the cooperative has knowledge.3. If there are interests, the ownership of which is unknown to the cooperative, it shall publish notice of the redemption at least once a month for 4 months in a publication circulated among members of cooperatives in the area, and also publish a class 3 notice, under ch. 985.History:  2005 a. 441.
WI Stat § 193.611 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.611 - Assignment of financial rights.

193.611  Assignment of financial rights. (1) Assignment of financial rights permitted. Except as provided in sub. (3), a member's financial rights in a cooperative are transferable in whole or in part. (2)  Effect of assignment of financial rights. An assignment of a member's financial rights under sub. (1) entitles the assignee to receive, to the extent assigned, only the share of profits and losses and the distributions to which the assignor would otherwise be entitled. An assignment of a member's financial rights under sub. (1) does not dissolve the cooperative and does not entitle or empower the assignee to become a member, to exercise any governance rights, to receive any notices from the cooperative, or to cause dissolution. The assignment may not allow the assignee to control the member's exercise of governance or voting rights. (3)  Restrictions on assignment of financial rights.  (a) A restriction on the assignment of financial rights in a cooperative may be imposed in the articles, in the bylaws, in a member control agreement, by a resolution adopted by the members at a members' meeting, or by an agreement among members and the cooperative. A restriction is not binding with respect to financial rights reflected in the required records of the cooperative before the adoption of the restriction, unless the owners of those financial rights are parties to the agreement or voted in favor of the restriction.(b) Subject to par. (c), a restriction under par. (a) is enforceable only if the restriction is not manifestly unreasonable under the circumstances and is noted conspicuously in the required records of the cooperative. Such a restriction may be enforced against the owner of the restricted financial rights or a successor or transferee of the owner, including a pledgee or a legal representative.(c) A restriction on an assignment of financial rights under par. (a) which is otherwise valid and in effect at the time of the issuance of a statement of membership interest issued by the cooperative under s. 193.615 but which is not reflected in that statement is ineffective against an assignee who takes an assignment in reliance on the statement.(d) A security interest in a member's financial rights may be foreclosed and otherwise enforced, and a secured party may assign a member's financial rights in accordance with ch. 408, without the consent or approval of the member whose financial rights are subject to the security interest.History:  2005 a. 441.
WI Stat § 193.625 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.625 - Replacement certificates.

193.625  Replacement certificates. (1) Issuance. A cooperative may issue a replacement certificate of membership interest under s. 193.621 using the procedure specified in s. 408.405 (1), if the owner of the membership interest represented in a certificate claims that the certificate has been lost, destroyed or wrongfully taken. (2)  Not an overissue. The issuance of a replacement certificate under sub. (1) is not an overissue of the membership interest it represents.History:  2005 a. 441.
WI Stat § 193.631 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.631 - Restriction on transfer or registration of membership interests.

193.631  Restriction on transfer or registration of membership interests. (1) How imposed. A restriction on the transfer, including registration, of a membership interest may be imposed in the articles, in the bylaws, in a member control agreement, by a resolution adopted by the members, or by an agreement among or other written action by members or among them and the cooperative. A restriction imposed by a member control agreement or other written action of members is effective only against the parties to the agreement or written action or the members who assent pursuant to a member resolution. A restriction is not binding with respect to membership interests issued prior to the adoption of the restriction, unless the holders of those membership interests are parties to the agreement or voted in favor of the restriction. (2)  Restrictions permitted. (a) A restriction under sub. (1) is enforceable only if the restriction is not manifestly unreasonable under the circumstances and any of the following apply:1. The restriction is noted conspicuously on a certificate of membership interest representing the membership interest or the existence of the restriction is noted on the certificate and reference is made to a separate document creating or describing the restriction.2. The restriction is imposed under this chapter or is included in the articles or bylaws.3. The restriction relates to an uncertificated membership interest and is included in information sent to the holders of such a membership interest.(b) A restriction that is enforceable under par. (a) may be enforced against the holder of the restricted membership interest or a successor or transferee of the holder, including a pledgee or a legal representative.History:  2005 a. 441.
WI Stat § 193.701 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.701 - Authorization, form, and acceptance.

193.701  Authorization, form, and acceptance. (1) Board may authorize. If authorized by the board, a cooperative may accept contributions, make contribution agreements under s. 193.711, and make contribution rights agreements under s. 193.715. (2)  Permissible forms. A person may make a contribution to a cooperative by any of the following means:(a) By paying money or transferring the ownership of an interest in property to the cooperative, or performing services to or for the benefit of the cooperative.(b) Through a written obligation that is signed by the person and requires the person to pay money or transfer ownership of an interest in property to the cooperative or to perform services to or for the benefit of the cooperative. (3)  Acceptance of contributions. No purported contribution is to be treated as or considered to be a contribution, unless all of the following apply:(a) The board accepts the contribution on behalf of the cooperative and in that acceptance describes the contribution, including terms of future performance, if any, and states the value being accorded to the contribution.(b) The acceptance of the contribution and the contribution's accorded value are both reflected in the required records of the cooperative.History:  2005 a. 441.
WI Stat § 193.702 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.702 - Valuation; presumption and liability.

193.702  Valuation; presumption and liability. The determinations of the board as to a contribution's accorded value under s. 193.701 (3) (a) and the fairness to the cooperative of a contribution and any terms of payment or performance applicable to the contribution, the terms of any contribution agreement under s. 193.711, and the terms of any contribution rights agreement under s. 193.715 are presumed to be proper if the determinations are made in good faith and on the basis of methods that are reasonable under the circumstances. Directors who are present and entitled to vote, and who, intentionally or without reasonable investigation, fail to vote against approving a consideration that is unfair to the cooperative, or who overvalue property or services received or to be received by the cooperative as a contribution, are jointly and severally liable to the cooperative for the benefit of the members then existing who did not consent to and are damaged by the consideration or overvaluing of property or services, to the extent of the damages to those members. A director against whom a claim is asserted pursuant to this section, except in a case of knowing participation in a deliberate fraud, is entitled to contribution on an equitable basis from other directors who are liable under this section.History:  2005 a. 441.
WI Stat § 193.705 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.705 - Restated value of previous contributions.

193.705  Restated value of previous contributions. (1) Definition. In this section, “old contributions" means all contributions reflected in the required records of a cooperative immediately before the time the cooperative accepts a new contribution. (2)  Restatement required. If a cooperative accepts a new contribution, the board shall restate the value of all old contributions. (3)  Restatement method for same series or class.  (a) Unless otherwise provided in the articles or bylaws, the board shall restate the value of old contributions of the same series or class of the new contribution by following all of the following steps in numerical order:1. State the value accorded to the new contribution under s. 193.701 (3) (a).2. Determine what the total value will be, after the restatement under this subsection, of all contributions of same series or class as the new contribution.3. Subtract the value stated under subd. 1. from the value determined under subd. 2., yielding the total value, after the restatement under this subsection, of all the old contributions of the particular series or class.4. Subtract the value, as reflected in the required records before the restatement under this subsection, of the old contributions from the value determined under subd. 3., yielding the value to be allocated among and added to the old contributions of the particular series or class.5. Allocate the value determined under subd. 4. proportionally among the old contributions of the particular series or class, add the allocated values to the values of those old contributions, and change the required records accordingly.(b) The values determined under par. (a) 4. and allocated and added under par. (a) 5. may be positive, negative, or zero. (4)  Restatement method for different series or class. Unless otherwise provided in the articles or bylaws, the board shall restate the value of old contributions of a series or class different from that of the new contribution by following all of the following steps in alphanumerical order:(a) Determine the percentage by which any restatement under sub. (3) has changed the total contribution value reflected in the required records for the series or class of the new contribution.(b) As to each old contribution of a different series or class, change the value reflected in the required records by the percentage determined under par. (a). The percentage determined under par. (a) may be positive, negative, or zero. (5)  Aggregating new contributions. If a cooperative accepts more than one new contribution of the same series or class at the same time, then for the purpose of the restatement required by this section the board may consider all such new contributions as if they were a single contribution.History:  2005 a. 441.
WI Stat § 193.715 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.715 - Contribution rights agreements.

193.715  Contribution rights agreements. (1) Contribution rights agreements permitted. Pursuant to s. 193.701 (1) and subject to any restrictions in the articles or bylaws, a cooperative may enter into an agreement that provides a person rights to contribute goods, services, or money to the cooperative. (2)  Writing required; terms included by reference. A contribution rights agreement shall be in writing. Terms of the agreement may be included by reference. (3)  Restrictions on assignment. Unless the articles or bylaws provide otherwise, a person may not assign, in whole or in part, that person's rights under a contribution rights agreement to a person who is not a member at the time of the assignment, unless all the members consent to the assignment in writing.History:  2005 a. 441.
WI Stat § 193.721 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 193 - Unincorporated cooperative associations.|193.721 - Allocations of profits and distributions of cash and other assets.

193.721  Allocations of profits and distributions of cash and other assets. (1) Allocation of profits and losses. Except as otherwise provided in this subsection and the articles or bylaws, profits and losses shall be allocated between patron membership interests collectively and nonpatron membership interests collectively on the basis of the value of contributions received from patron membership interests collectively and nonpatron membership interests collectively. The allocation of profits to patron membership interests collectively in a fiscal year may not be less than 51 percent of the total profits for that fiscal year, except that the allocation of profits to patron membership interests collectively in a fiscal year may not be less than 30 percent of the total profits for that fiscal year if any of the following apply:(a) The articles were amended to provide for the reduced percentage and, notwithstanding s. 193.221 (1) and (3), the amendment was approved by the affirmative vote of the patron members.(b) The bylaws provide for the reduced percentage and were approved by an affirmative vote of the patron members.(c) The bylaws were amended to provide for the reduced percentage and the amendment was approved by the affirmative vote of the patron members. (2)  Distribution of cash or other assets. If not stated in the articles, the bylaws shall prescribe the distribution of cash or other assets of the cooperative among the membership interests of the cooperative. Unless the articles or bylaws provide otherwise, the cooperative shall distribute cash or other assets to patron membership interests collectively and nonpatron membership interests collectively on the basis of the value of contributions received by the cooperative from patron membership interests collectively and nonpatron membership interests collectively. The distributions to patron membership interests collectively in any fiscal year may not be less than 51 percent of the total distributions for that fiscal year, except that distributions to patron membership interests collectively in a fiscal year may not be less than 30 percent of the total distributions for that fiscal year if any of the following apply:(a) The articles provide for the reduced percentage and that provision was not included in the articles via amendment under s. 193.221 (3).(b) The bylaws provide for the reduced percentage and were adopted by an affirmative vote of the members.(c) The bylaws were amended to provide for the reduced percentage and the amendment was adopted by the affirmative vote of the members.History:  2005 a. 441.