Dept. of Financial Institutions: Issues emergency guidance on annual meeting requirements

MADISON, Wis. – At the direction of Governor Tony Evers, the Wisconsin Department of Financial Institutions (DFI) issued emergency guidance today on annual meeting requirements for businesses formed under statues administered by DFI in Wisconsin.

“Among our many duties, DFI serves as the filing office for organizational documents and reports for most businesses, non-profit organizations, and other associations formed under the laws of this state,” said DFI Secretary Kathy Blumenfeld. “Due to the COVID-19 public health emergency, we’re construing statutes that require annual meetings of members, shareholders, directors and others to allow for those meetings to occur by virtual means, so long as they are conducted in a manner that follows all recordkeeping obligations and protects the rights granted in Wisconsin’s bylaws and statues.”

This emergency guidance applies to entities formed under Chapters 178 to 188, 214, 215, and 220 to 223 of the Wisconsin Statutes. To learn more, read DFI’s Emergency Guidance on Virtual Annual Meetings.