reglab/housing_qa huggingface dataset:
WI Stat § 180.0721 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0721 - Voting entitlement of shares.

180.0721  Voting entitlement of shares. (1) Except as provided in subs. (2) and (4) and s. 180.1150, or unless the articles of incorporation provide otherwise, each outstanding share, regardless of class, is entitled to one vote on each matter voted on at a shareholders' meeting. Only shares are entitled to vote. (2) The shares of a domestic corporation are not entitled to vote if they are owned, directly or indirectly, by a 2nd domestic corporation or foreign corporation and the first domestic corporation owns, directly or indirectly, a sufficient number of shares entitled to elect a majority of the directors of the 2nd domestic corporation or foreign corporation. (3) Subsection (2) does not limit the power of a domestic corporation or foreign corporation to vote any shares, including its shares, held by it in a fiduciary capacity. (4) Redeemable shares are not entitled to vote after written notice of redemption that complies with s. 180.0141 is mailed to the holders and a sum sufficient to redeem the shares has been deposited with a bank, trust company or other financial institution under an irrevocable obligation to pay the holders the redemption price on surrender of the shares.History:  1989 a. 303; 1991 a. 16.
WI Stat § 180.0723 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0723 - Shares held by nominees.

180.0723  Shares held by nominees. (1) A corporation may establish a procedure by which the beneficial owner of shares that are registered in the name of a nominee is recognized by the corporation as the shareholder. The extent of this recognition may be determined in the procedure. (2) The procedure may set forth all of the following:(a) The types of nominees to which it applies.(b) The rights or privileges that the corporation recognizes in a beneficial owner.(c) The manner in which the nominee selects the procedure.(d) The information that must be provided when the procedure is selected.(e) The period for which selection of the procedure is effective.(f) Other aspects of the rights and duties created.History:  1989 a. 303.
WI Stat § 180.0724 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0724 - Acceptance of instruments showing shareholder action.

180.0724  Acceptance of instruments showing shareholder action. (1) If the name signed on a vote, consent, waiver or proxy appointment corresponds to the name of a shareholder, the corporation, if acting in good faith, may accept the vote, consent, waiver or proxy appointment and give it effect as the act of the shareholder. (2) If the name signed on a vote, consent, waiver or proxy appointment does not correspond to the name of its shareholder, the corporation, if acting in good faith, may accept the vote, consent, waiver or proxy appointment and give it effect as the act of the shareholder if any of the following apply:(a) The shareholder is an entity and the name signed purports to be that of an officer or agent of the entity.(b) The name signed purports to be that of a personal representative, guardian, or conservator representing the shareholder and, if the corporation requests, evidence of fiduciary status acceptable to the corporation is presented with respect to the vote, consent, waiver, or proxy appointment.(c) The name signed purports to be that of a receiver or trustee in bankruptcy of the shareholder and, if the corporation requests, evidence of this status acceptable to the corporation is presented with respect to the vote, consent, waiver or proxy appointment.(d) The name signed purports to be that of a pledgee, beneficial owner, or attorney-in-fact of the shareholder and, if the corporation requests, evidence acceptable to the corporation of the signatory's authority to sign for the shareholder is presented with respect to the vote, consent, waiver or proxy appointment.(e) Two or more persons are the shareholder as cotenants or fiduciaries and the name signed purports to be the name of at least one of the co-owners and the person signing appears to be acting on behalf of all co-owners. (3) The corporation may reject a vote, consent, waiver or proxy appointment if the secretary or other officer or agent of the corporation who is authorized to tabulate votes, acting in good faith, has reasonable basis for doubt about the validity of the signature on it or about the signatory's authority to sign for the shareholder. (4) The corporation and its officer or agent who accepts or rejects a vote, consent, waiver or proxy appointment in good faith and in accordance with this section or s. 180.0722 (2) are not liable in damages to the shareholder for the consequences of the acceptance or rejection. (5) Corporate action based on the acceptance or rejection of a vote, consent, waiver or proxy appointment under this section or s. 180.0722 (2) is valid unless a court of competent jurisdiction determines otherwise.History:  1989 a. 303; 1999 a. 9; 2001 a. 102.
WI Stat § 180.0725 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0725 - Quorum and voting requirements for voting groups.

180.0725  Quorum and voting requirements for voting groups. (1) Shares entitled to vote as a separate voting group may take action on a matter at a meeting only if a quorum of those shares exists with respect to that matter. Unless the articles of incorporation, bylaws adopted under authority granted in the articles of incorporation or this chapter provides otherwise, a majority of the votes entitled to be cast on the matter by the voting group constitutes a quorum of that voting group for action on that matter. (2) Once a share is represented for any purpose at a meeting, other than for the purpose of objecting to holding the meeting or transacting business at the meeting, it is considered present for purposes of determining whether a quorum exists, for the remainder of the meeting and for any adjournment of that meeting unless a new record date is or must be set for that adjourned meeting. (3) If a quorum exists, action on a matter, other than the election of directors under s. 180.0728, by a voting group is approved if the votes cast within the voting group favoring the action exceed the votes cast opposing the action, unless the articles of incorporation, bylaws adopted under authority granted in the articles of incorporation or this chapter requires a greater number of affirmative votes.History:  1989 a. 303; 1991 a. 16.
WI Stat § 180.0726 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0726 - Action by single and multiple voting groups.

180.0726  Action by single and multiple voting groups. (1) If the articles of incorporation or this chapter provides for voting by a single voting group on a matter, action on that matter is taken when voted upon by the voting group as provided in s. 180.0725. (2) If the articles of incorporation or this chapter provides for voting by 2 or more voting groups on a matter, action on that matter is taken only when voted upon by each of those voting groups counted separately as provided in s. 180.0725. Action may be taken by one voting group on a matter even though no action is taken by another voting group entitled to vote on the matter. (3) A voting group described in s. 180.0103 (19) (b) constitutes a single voting group for purposes of voting on the matter on which the shares are entitled to vote.History:  1989 a. 303.
WI Stat § 180.0727 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0727 - Greater or lower quorum or greater voting requirements.

180.0727  Greater or lower quorum or greater voting requirements. (1) The articles of incorporation may provide, or authorize the bylaws under s. 180.1021 to provide, for a greater or lower quorum requirement or a greater voting requirement for shareholders or voting groups of shareholders than is provided by this chapter. (2) An amendment to the articles of incorporation that adds, changes or deletes a greater or lower quorum requirement or a greater voting requirement must meet the same quorum requirement and be adopted by the same vote and voting groups required to take action under the quorum and voting requirements then in effect.History:  1989 a. 303.
WI Stat § 180.0728 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0728 - Voting for directors; cumulative voting.

180.0728  Voting for directors; cumulative voting. (1) Unless otherwise provided in the articles of incorporation, directors are elected by a plurality of the votes cast by the shares entitled to vote in the election at a meeting at which a quorum is present. In this subsection, “plurality" means that the individuals with the largest number of votes are elected as directors up to the maximum number of directors to be chosen at the election. (2) Shareholders do not have a right to cumulate their votes for directors unless the articles of incorporation provide for cumulative voting. If the articles of incorporation contain a statement indicating that all or a designated voting group of shareholders are entitled to cumulate their votes for directors, the shareholders so designated are entitled to multiply the number of votes that they are entitled to cast by the number of directors for whom they are entitled to vote and cast the product for a single candidate or distribute the product among 2 or more candidates. (3) (a) Except as provided in par. (c), shares entitled under sub. (2) to vote cumulatively may not be voted cumulatively at a particular meeting unless any of the following notice requirements are satisfied:1. The meeting notice or proxy statement accompanying the notice states conspicuously that cumulative voting is authorized.2. A shareholder who has the right to cumulate his or her votes gives notice that complies with s. 180.0141 to the corporation not less than 48 hours before the time set for the meeting of his or her intent to cumulate his or her votes during the meeting.(b) If one shareholder gives notice under par. (a) 2., all other shareholders in the same voting group participating in the election are entitled to cumulate their votes without giving further notice.(c) If shares of a corporation that is a close corporation under s. 180.1801 are entitled under sub. (2) to vote cumulatively, the shares may not be voted cumulatively at a particular meeting unless the notice requirement of par. (a) 1. or 2. is satisfied or unless shares were voted cumulatively in the last election of directors. (4) For purposes of this section, votes against a candidate are not given legal effect and are not counted as votes cast in an election of directors.History:  1989 a. 303; 1991 a. 16.
WI Stat § 180.0730 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0730 - Voting trusts.

180.0730  Voting trusts. (1) One or more shareholders may create a voting trust, conferring on a trustee the right to vote or otherwise act for them, by signing an agreement setting out the provisions of the trust and transferring their shares to the trustee. The voting trust agreement may include any provision consistent with the voting trust's purpose. When a voting trust agreement is signed, the trustee shall prepare a list of the names and addresses of all owners of beneficial interests in the trust, together with the number and class of shares each transferred to the trust, and deliver copies of the list and agreement to the corporation's principal office. (2) A voting trust becomes effective on the date that the first shares subject to the trust are registered in the trustee's name.History:  1989 a. 303.
WI Stat § 180.0731 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0731 - Voting agreements.

180.0731  Voting agreements. (1) Two or more shareholders may provide for the manner in which they will vote their shares by signing an agreement for that purpose. A voting agreement created under this section is not subject to s. 180.0730. (2) A voting agreement created under this section is specifically enforceable.History:  1989 a. 303.
WI Stat § 180.0740 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0740 - Definitions applicable to ss. 180.0740 to 180.0747.

180.0740  Definitions applicable to ss. 180.0740 to 180.0747. In ss. 180.0740 to 180.0747: (1) “Beneficial owner" means a person whose shares are held in a voting trust or held by a nominee on the person's behalf. (2) “Derivative proceeding" means a civil suit in the right of a domestic corporation or, to the extent provided in ss. 180.0743 and 180.0745 to 180.0747, in the right of a foreign corporation.History:  1989 a. 303; 1991 a. 16.
WI Stat § 180.0741 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0741 - Standing.

180.0741  Standing. A shareholder or beneficial owner may not commence or maintain a derivative proceeding unless the shareholder or beneficial owner satisfies all of the following: (1) Was a shareholder or beneficial owner of the corporation at the time of the act or omission complained of or became a shareholder or beneficial owner through transfer by operation of law from a person who was a shareholder or beneficial owner at that time. (2) Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.History:  1989 a. 303; 1991 a. 16.A plaintiff does not fairly and adequately represent the interest of the corporation when a derivative action is used for personal advantage. Whether or not a personal agenda exists is determined by the trial court. Read v. Read, 205 Wis. 2d 558, 561 N.W.2d 768 (Ct. App. 1996), 95-2453.To bring an individual claim for breach of fiduciary duty, the complaint must allege facts sufficient, if proved, to show an injury personal to the complainant, rather than primarily to the corporation. The plaintiff must also show that each defendant had a fiduciary duty to the plaintiff in respect to corporate affairs that to each defendant constitutes a breach. Generally a claim of waste of corporate assets must be brought in a derivative action and not as a direct action. Reget v. Paige, 2001 WI App 73, 242 Wis. 2d 278, 626 N.W.2d 302, 99-0838.Derivative claims are those a corporation could bring because the corporation's assets are affected. If the injury is one primarily to the corporation, a plaintiff must allege that it was a registered shareholder at the time of the transaction of which it complains. The failure to plead registered shareholder status requires the dismissal of derivative claims. Borne v. Gonstead Advanced Techniques, Inc., 2003 WI App 135, 266 Wis. 2d 253, 667 N.W.2d 709, 01-2624.To have standing pursuant to this section, one must be a current shareholder to initiate a claim on behalf of the corporation. Krier v. Vilione, 2009 WI 45, 317 Wis. 2d 288, 766 N.W.2d 517, 06-1573.
WI Stat § 180.0742 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0742 - Demand.

180.0742  Demand. No shareholder or beneficial owner may commence a derivative proceeding until all of the following occur: (1) A written demand is made upon the corporation to take suitable action. (2) Ninety days expire from the date on which the demand was made, unless the shareholder or beneficial owner is notified before the expiration of 90 days that the corporation has rejected the demand or unless irreparable injury to the corporation would result by waiting for the expiration of the 90-day period.History:  1989 a. 303; 1991 a. 16.
WI Stat § 180.0743 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0743 - Stay of proceedings.

180.0743  Stay of proceedings. If the domestic corporation or foreign corporation commences an inquiry into the allegations made in the demand or complaint, the court may stay any derivative proceeding for the period that the court considers appropriate.History:  1989 a. 303; 1991 a. 16.
WI Stat § 180.0745 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0745 - Discontinuance or settlement.

180.0745  Discontinuance or settlement. A derivative proceeding may not be discontinued or settled without the court's approval. If the court determines that a proposed discontinuance or settlement will substantially affect the interests of the beneficial owners, the shareholders or a class of shareholders of the domestic corporation or foreign corporation, the court shall direct that notice be given to the shareholders and beneficial owners affected.History:  1989 a. 303.
WI Stat § 180.0746 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0746 - Payment of expenses.

180.0746  Payment of expenses. On termination of the derivative proceeding, the court may do any of the following: (1) Notwithstanding s. 814.04 (1), order the domestic corporation or foreign corporation to pay the plaintiff's reasonable expenses, including attorney fees, incurred in the derivative proceeding by the shareholder or beneficial owner who commenced or maintained the derivative proceeding if the court finds that the derivative proceeding has resulted in a substantial benefit to the domestic corporation or foreign corporation. (2) Order the shareholder or beneficial owner who commenced or maintained the derivative proceeding to pay any defendant's reasonable expenses, including attorney fees, notwithstanding s. 814.04 (1), incurred in defending the derivative proceeding if it finds that the derivative proceeding was commenced or maintained without reasonable cause or for an improper purpose.History:  1989 a. 303; 1991 a. 16.
WI Stat § 180.0747 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0747 - Applicability to foreign corporations.

180.0747  Applicability to foreign corporations. In any derivative proceeding in the right of a foreign corporation, the matters covered by ss. 180.0741, 180.0742 and 180.0744 shall be governed by the laws of the jurisdiction of incorporation of the foreign corporation.History:  1989 a. 303; 1991 a. 16.
WI Stat § 180.0801 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0801 - Requirement for and duties of board of directors.

180.0801  Requirement for and duties of board of directors. (1) Except as provided in s. 180.1821, a corporation shall have a board of directors. (2) All corporate powers shall be exercised by or under the authority of, and the business and affairs of the corporation managed under the direction of, its board of directors, subject to any limitation set forth in the articles of incorporation.History:  1989 a. 303.
WI Stat § 180.0802 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0802 - Qualifications of directors.

180.0802  Qualifications of directors. The articles of incorporation or bylaws may prescribe qualifications for directors. A director need not be a resident of this state or a shareholder of the corporation unless the articles of incorporation or bylaws so prescribe.History:  1989 a. 303.
WI Stat § 180.0803 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0803 - Number and election of directors.

180.0803  Number and election of directors. (1) A board of directors shall consist of one or more natural persons, with the number specified in or fixed in accordance with the articles of incorporation or bylaws. (2) The number of directors may be increased or, subject to s. 180.0805 (2), decreased from time to time by amendment to, or in the manner provided in, the articles of incorporation or the bylaws. (3) Directors shall be elected at the first annual shareholders' meeting and at each annual meeting thereafter unless their terms are staggered under s. 180.0806.History:  1989 a. 303.
WI Stat § 180.0804 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0804 - Election of directors by certain classes of shareholders.

180.0804  Election of directors by certain classes of shareholders. If the articles of incorporation authorize dividing the shares into classes, the articles of incorporation may also authorize the election of all or a specified number of directors by the holders of one or more authorized classes of shares. A class or classes of shares entitled to elect one or more directors shall be a separate voting group for purposes of the election of directors.History:  1989 a. 303.
WI Stat § 180.0805 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0805 - Terms of directors generally.

180.0805  Terms of directors generally. (1) The terms of the directors of a corporation, including the initial directors, expire at the next annual shareholders' meeting unless their terms are staggered under s. 180.0806. (2) A decrease in the number of directors may not shorten an incumbent director's term. (3) Despite the expiration of a director's term, the director shall continue to serve, subject to ss. 180.0807, 180.0808 and 180.0809, until his or her successor is elected and, if necessary, qualifies or until there is a decrease in the number of directors.History:  1989 a. 303.
WI Stat § 180.0806 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0806 - Staggered terms of directors.

180.0806  Staggered terms of directors. The articles of incorporation or the bylaws, if the articles of incorporation so provide, may provide for staggering the terms of the directors by dividing the total number of directors into 2 or 3 groups. In that event, the terms of directors in the first group expire at the first annual shareholders' meeting after their election, the terms of the 2nd group expire at the 2nd annual shareholders' meeting after their election, and the terms of the 3rd group, if any, expire at the 3rd annual shareholders' meeting after their election. At each annual shareholders' meeting held thereafter, the number of directors equal to the number of the group whose term expires at the time of the meeting shall be chosen for a term of 2 years, if there are 2 groups, or a term of 3 years, if there are 3 groups.History:  1989 a. 303.
WI Stat § 180.0807 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 180 - Business corporations.|180.0807 - Resignation of directors.

180.0807  Resignation of directors. (1) A director may resign at any time by delivering written notice that complies with s. 180.0141 to the board of directors, to the chairperson of the board of directors or to the corporation. (2) A resignation is effective when the notice is delivered unless the notice specifies a later effective date.History:  1989 a. 303.