Register January 2006 No. 601

Chapter DFI-SB 11

REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS

DFI-SB 11.01       Real estate owned and other repossessed assets.

Ch. DFI-SB 11 Note Note: Chapter SB 11 was renumbered ch. DFI-SB 11 under s. 13.93 (2m) (b) 1., Stats., and corrections made under s. 13.93 (2m) (b) 6. and 7., Stats., Register, November, 1997, No. 503.

DFI-SB 11.01 DFI-SB 11.01  Real estate owned and other repossessed assets.

DFI-SB 11.01(1) (1)  Value carried on books. Real estate and other assets repossessed by a savings bank shall be carried on the books at their estimated market value and in accordance with generally accepted accounting principles.

DFI-SB 11.01(2) (2) Appraisals. When real estate is repossessed, the savings bank shall have it appraised. The real estate shall be subsequently reappraised if:

DFI-SB 11.01(2)(a) (a) There is a material change in its use or condition; or

DFI-SB 11.01(2)(b) (b) Reappraisal is ordered by the division.

DFI-SB 11.01 Note Note: This section interprets or implements ss. 214.515 and 214.715, Stats.

DFI-SB 11.01 History History: Cr. Register, February, 1994, No. 458, eff. 3-1-94.