Section DFI-SL 10.03 - Optional board of directors' maximum age limitationsAn association may add limitations on the maximum age at which persons may be nominated to the board of directors or at which persons may continue to serve as a board member. The limitations shall be stated in the association's bylaws, within article 4.01 (1) (c) ("qualifications of directors"), using one of the following forms:
(1) In addition, no person may be nominated for the office of director if he or she is more than years of age.(2) In addition, except for directors serving on the board at the time of the adoption of this bylaw, no person may be nominated for the office of director if he or she is more than years of age.(3) In addition, no director may serve beyond the annual meeting of the association following the date on which he or she becomes years of age.(4) In addition, no director may serve beyond the annual meeting of the association following the date on which he or she becomes years of age, although persons serving as directors at the time of the adoption of this bylaw may continue to serve for the unexpired portion of their present terms.(5) In addition: (a) No person may be nominated for the office of director if he or she is more than years of age.(b) No director may serve beyond the annual meeting of the association following the date on which he or she becomes years of age.(6) In addition: (a) No person may be nominated for the office of director if he or she is more than years of age.(b) No director may serve beyond the annual meeting of the association following the date on which he or she becomes years of age, although persons serving as directors at the time of adoption of this bylaw may continue to serve for the unexpired portion of their present terms.(7) In addition: (a) Except for directors serving on the board at the time of the adoption of this bylaw, no person may be nominated for the office of director if he or she is more than years of age.(b) No director may serve beyond the annual meeting of the association following the date on which he or she becomes years of age.(8) In addition: (a) Except for persons serving as directors at the time of the adoption of this bylaw, no person may be nominated for the office of director if he or she is more than years of age.(b) No director may serve beyond the annual meeting of the association following the date on which he or she becomes years of age, although persons serving as directors at the time of the adoption of this bylaw may continue to serve for the unexpired portion of their present terms.(9) In addition, except for persons serving as directors at the time of the adoption of this bylaw:(a) No person may be nominated for the office of director if he or she is more than years of age.(b) No director may serve beyond the annual meeting of the association following the date on which he or she becomes years of age.Wis. Admin. Code Department of Financial Institutions DFI-SL 10.03
CR Register, June, 1989, No. 402, eff. 7-1-89.