Wisconsin Statutes & Annotations
Chapter 221 - State banks.
221.0629 - Allowance of expenses as incurred.

221.0629 Allowance of expenses as incurred. Upon written request by a director or officer who is a party to a proceeding, a bank may pay or reimburse his or her reasonable expenses as incurred if the director or officer provides the bank with all of the following:
(1) Affirmation of good faith belief. A written affirmation of his or her good faith belief that he or she has not breached or failed to perform his or her duties to the bank.
(2) Undertaking to repay. A written undertaking, executed personally or on his or her behalf, to repay the allowance and, if required by the bank, to pay reasonable interest on the allowance to the extent that it is ultimately determined under s. 221.0631 that indemnification under s. 221.0627 (2) is not required and that indemnification is not ordered by a court under s. 221.0630 (2) (b). The undertaking under this subsection shall be an unlimited general obligation of the director or officer and may be accepted without reference to his or her ability to repay the allowance. The undertaking may be secured or unsecured.
History: 1995 a. 336.

Structure Wisconsin Statutes & Annotations

Wisconsin Statutes & Annotations

Chapter 221 - State banks.

221.0101 - Title.

221.0102 - Definitions.

221.0103 - Notice.

221.0104 - Applicability.

221.0105 - Fees.

221.0201 - Applicants.

221.0202 - Application.

221.0203 - Certificate of authority.

221.0204 - Temporary organization.

221.0205 - Capital stock.

221.02055 - Reserves.

221.0206 - Articles of incorporation.

221.0207 - Filed documents.

221.0208 - Charter.

221.0209 - Prohibition on transacting business.

221.0210 - Publication of charter.

221.0211 - Amendment of articles of incorporation.

221.0212 - Restated articles of incorporation.

221.0213 - Bylaws.

221.0214 - Amendment of bylaws by board of directors or shareholders.

221.0215 - Authorized stock.

221.0216 - Preferred stock.

221.0217 - Reorganization of a state bank as a national bank.

221.0218 - Reorganization of a national bank as a state bank.

221.0219 - Conversion of a credit union to a state bank.

221.0301 - General powers.

221.0302 - Branch banks and other facilities.

221.0303 - Customer bank communications terminals.

221.0304 - Safe deposits.

221.0305 - Memberships and investments in federal reserve bank.

221.0306 - Memberships and investments in federal home loan bank.

221.0307 - Memberships and investments in other state and federal agencies.

221.0308 - Benefits under federal law; Federal Deposit Insurance Corporation.

221.0309 - Investments in international banking and financial institutions.

221.0310 - Federal National Mortgage Association.

221.0311 - Investments in agricultural credit corporations.

221.0312 - Investments in development companies.

221.0313 - Information to division; stock holdings.

221.0314 - Sale of U.S. bonds.

221.0315 - Insurance activities.

221.0316 - Trust powers.

221.0317 - Securitization of assets.

221.0318 - Notes and debentures.

221.0319 - Real estate.

221.0320 - Limit of loans and investments.

221.0321 - Other loans and investments.

221.0322 - Additional banking authority.

221.0323 - Bank purchase of its own stock.

221.0324 - Assets not to be pledged as security.

221.0325 - Certified checks.

221.0326 - Bad debts.

221.0327 - Surplus fund.

221.0328 - Dividends.

221.0329 - Savings promotion prize programs.

221.0401 - State bank.

221.0402 - Use of “bank".

221.0403 - Bank names.

221.0404 - Deceptive or misleading use of bank name, logo, or symbol.

221.0501 - Quorum and voting requirements for voting groups.

221.0502 - Greater or lower quorum or greater voting requirements.

221.0503 - Bylaw fixing quorum or voting requirements for shareholders.

221.0504 - Number of shareholders.

221.0505 - Issued and outstanding shares.

221.0506 - Fractional shares.

221.0507 - Share dividends.

221.0508 - Form and content of certificates.

221.0509 - Restriction on transfer of shares and other securities.

221.0510 - Preemptive rights.

221.0511 - Annual meeting.

221.0512 - Special meeting.

221.0513 - Shareholder action without a meeting.

221.0514 - Notice of meeting.

221.0515 - Disclosure to shareholders.

221.0516 - Waiver of notice.

221.0517 - Record date.

221.0518 - Shareholders' list for meeting.

221.0519 - Proxies.

221.0520 - Shares held by nominees.

221.0521 - Acceptance of instruments showing shareholder action.

221.0522 - Voting for directors; cumulative voting.

221.0523 - Voting trusts.

221.0524 - Voting agreements.

221.0525 - Shares of stock, when not transferable.

221.0526 - Stock control of bank or trust company bank by other corporation.

221.0601 - Requirement for and duties of board of directors.

221.0602 - Qualifications of directors.

221.0603 - Number and election of directors.

221.0604 - Election of directors by certain classes of shareholders.

221.0605 - Terms of directors generally.

221.0606 - Staggered terms of directors.

221.0607 - Resignation of directors.

221.0608 - Removal of directors by shareholders.

221.0609 - Vacancy on board.

221.0610 - Meetings.

221.06105 - Board action without a meeting.

221.0611 - Response to examination.

221.0612 - Notice of meeting.

221.0613 - Waiver of notice.

221.0614 - Quorum and voting.

221.0615 - Committees.

221.0616 - Reliance by directors or officers.

221.0617 - Consideration of interests in addition to shareholders' interests.

221.0618 - Limited liability of directors.

221.0619 - Director conflict of interest.

221.0620 - Officers.

221.0621 - Duties of officers.

221.0622 - Resignation and removal of officers.

221.0623 - Contract rights of officers.

221.0624 - Signature of officers.

221.0625 - Loans to bank officials; penalty.

221.0626 - Definitions applicable to indemnification and insurance provisions.

221.0627 - Mandatory indemnification.

221.0628 - Bank may limit indemnification.

221.0629 - Allowance of expenses as incurred.

221.0630 - Court-ordered indemnification.

221.0631 - Determination of right to indemnification.

221.0632 - Indemnification and allowance of expenses of employees and agents.

221.0633 - Insurance.

221.0634 - Additional rights to indemnification and allowance of expenses.

221.0635 - Indemnification and insurance against securities law claims.

221.0636 - Theft.

221.0637 - Bank officers and employees not to take commissions.

221.0701 - Interest exchange.

221.0702 - Consolidation or merger of banks.

221.0703 - Cancellation of charter of merged bank.

221.0704 - Interim banks.

221.0705 - Definitions.

221.0706 - Right to dissent.

221.0707 - Dissent by shareholders and beneficial shareholders.

221.0708 - Notice of dissenters' rights.

221.0709 - Notice of intent to demand payment.

221.0710 - Dissenters' notice.

221.0711 - Duty to demand payment.

221.0712 - Restriction on uncertificated shares.

221.0713 - Payment.

221.0714 - Failure to take action.

221.0715 - After-acquired shares.

221.0716 - Procedure if dissenter is dissatisfied with payment or offer.

221.0717 - Court action.

221.0718 - Court costs and counsel fees.

221.0801 - Liquidation.

221.0802 - Banks may be placed in hands of division.

221.0803 - Charter, how forfeited.

221.0901 - Acquisitions of banks and bank holding companies.

221.0903 - In-state branches maintained by out-of-state banks.

221.0904 - Out-of-state banks establishing branches.

221.1001 - Stock book.

221.1002 - Reports.

221.1003 - Forfeiture.

221.1004 - False statements.

221.1005 - Refusal to permit inspection.

221.1006 - Fees for certified copies.

221.1007 - Legal process; how served.

221.1008 - Record search.

221.1101 - Bank service corporations.

221.1201 - Stock in bank-owned banks.

221.1202 - Bank-owned banks.