Special Meeting For Removal of Board of Directors
Friday June 1st 2007 in the Loft at 7:00 p.m.
Your Vote is Important.
All Lot Owners are Encouraged to Attend.
Chapter 181.0808 of Wisconsin Law:
(001) 181.0808 Removal of directors elected by members or directors.
(002) Except as otherwise provided in the articles of incorporation or bylaws of a corporation, all of the following apply:
(003) (1 ) REMOVAL IN GENERAL.
(004) The members may remove, with or without cause, one or more directors elected by them.
(005) (2) REMOVAL OF DIRECTORS ELECTED BY GROUP.
(006) If a director is elected by a class, chapter or other organizational unit or by region or other geographic grouping, the director may be removed only by the members of that class, chapter, unit or grouping.
(007) (3) NUMBER OF VOTES NEEDED TO REMOVE.
(008) Except as provided in sub. (8), a director may be removed under sub. (1) or (2) only if the number of votes cast to remove the director would be sufficient to elect the director at a meeting to elect directors.
(009) (4) CUMULATIVE VOTING.
(010) If cumulative voting is authorized, a director may not be removed if the number of votes, or if the director was elected by a class, chapter, unit or grouping of members, the number of votes of that class, chapter, unit or grouping, sufficient to elect the director under cumulative voting is voted against the director's removal.
(011) (5) MEETING.
(012) A director elected by members may be removed by the members only at a meeting called for the purpose of removing the director and the meeting notice must state that the purpose, or one of the purposes, of the meeting is removal of the director.
(013) (6) ENTIRE BOARD.
(014) An entire board may be removed under subs. (1) to (5).