Section 9.03. Optional article of incorporation of capital stock associations.

  The following is an optional approved provision for articles of incorporation of capital stock associations:

Article 8. Pursuant to the requirements of the Federal Savings and Loan Insurance Corporation's Regulations, the association shall establish and maintain a liquidation account for the benefit of its savings account holders as of ("eligible savers"). In the event of a complete liquidation of the association, it shall comply with such Regulations with respect to the amount and the priorities on liquidation of each of the association's eligible saver's inchoate interest in the liquidation account, to the extent it is still in existence, provided that an eligible saver's inchoate interest in the liquidation account shall not entitle such eligible saver to any voting rights at meetings of the association's stockholders.

History: Cr. Register, June, 1989, No. 402 , eff. 7-1-89.

Note

This section interprets or implements s. 215.61 (1) , Stats. Microsoft Windows NT 6.1.7601 Service Pack 1