221.0214 Amendment of bylaws by board of directors or shareholders. (1) Amendment by board of directors. A bank’s board of directors may amend or repeal the bank’s bylaws or adopt new bylaws, except to the extent that any of the following applies:(a) The articles of incorporation, s. 221.0503 or any other provision of this chapter reserve that power exclusively to the shareholders.(b) The shareholders, in adopting, amending or repealing a particular bylaw, provided in the bylaws that the board of directors may not amend, repeal or readopt that bylaw.(2) Amendment by shareholders. A bank’s shareholders may amend or repeal the bank’s bylaws or adopt new bylaws, even though the board of directors may also amend or repeal the bank’s bylaws or adopt new bylaws.History: 1995 a. 336.
Wisconsin Legal Code