LRBa1597/1
ARG:wlj:rs
2013 - 2014 LEGISLATURE
SENATE AMENDMENT 1,
TO SENATE BILL 520
February 3, 2014 - Offered by Senator Lasee.
SB520-SA1,1,4
32. Page 1, line 8: after "Institutions" insert ", providing an exemption from
4rule-making procedures, and requiring the exercise of rule-making authority".
SB520-SA1,1,10
7"
(2) (a) The office of credit unions shall promulgate a rule establishing a list
8of activities and powers incidental to the business of a credit union that are
9authorized for federally chartered credit unions as of the effective date of this
10paragraph .... [LRB inserts date].
SB520-SA1,2,211
(b) The office of credit unions shall submit the proposed rule under par. (a) to
12the legislative reference bureau in an electronic format approved by the legislative
1reference bureau, and the legislative reference bureau shall publish the proposed
2rule in the notice section of the Wisconsin administrative register under s. 35.93.
SB520-SA1,2,83
(c) Sections 227.114 (4) and (6), 227.115, 227.135, 227.137, 227.14 (2) (a) 6., (2g),
4(4), and (4m), 227.15, 227.16, 227.17, 227.18, 227.185, 227.19, and 227.30 do not
5apply to the office of credit unions in promulgating a rule under par. (a) or to any rule
6promulgated by the office of credit unions under par. (a). Guidelines prescribed by
7executive order of the governor do not apply to the office of credit unions in
8promulgating a rule under par. (a).".
SB520-SA1,2,15
11"(b) 1. The office of credit unions shall promulgate a rule adding an activity or
12power to the list of activities and powers established under sub. (2) (a) if the office
13of credit unions determines under par. (a) that the activity or power authorized for
14federally chartered credit unions should also be authorized for credit unions
15organized under s. 186.02.
SB520-SA1,2,1916
2. The office of credit unions shall submit the proposed rule under subd. 1. to
17the legislative reference bureau in an electronic format approved by the legislative
18reference bureau, and the legislative reference bureau shall publish the proposed
19rule in the notice section of the Wisconsin administrative register under s. 35.93.
SB520-SA1,3,220
3. Sections 227.114 (4) and (6), 227.115, 227.135, 227.137, 227.14 (2) (a) 6., (2g),
21(4), and (4m), 227.15, 227.16, 227.17, 227.18, 227.185, 227.19, and 227.30 do not
22apply to the office of credit unions in promulgating a rule under subd. 1. or to any rule
23promulgated by the office of credit unions under subd. 1. Guidelines prescribed by
1executive order of the governor do not apply to the office of credit unions in
2promulgating a rule under subd. 1.
SB520-SA1,3,5
3(4) The office of credit unions shall publish and maintain on the department
4of financial institutions' Internet site the list of activities and powers under sub. (2)
5(a).
SB520-SA1,3,8
6(5) If the office of credit unions promulgates a rule listing an activity or power
7as provided in sub. (2) (a) or (3) (b) 1., subs. (2) (b) and (c) and (3) (b) 2. and 3. do not
8apply to any subsequent rule modifying or eliminating the listed activity or power.".
SB520-SA1,3,12
12"
Section 22m. 227.10 (2m) of the statutes is amended to read:
SB520-SA1,3,1913
227.10
(2m) No agency may implement or enforce any standard, requirement,
14or threshold, including as a term or condition of any license issued by the agency,
15unless that standard, requirement, or threshold is explicitly required or explicitly
16permitted by statute or by a rule that has been promulgated in accordance with this
17subchapter
, except as provided in s. 186.118 (2) (c) and (3) (b) 3. The governor, by
18executive order, may prescribe guidelines to ensure that rules are promulgated in
19compliance with this subchapter.".
SB520-SA1,3,21
21"
Section 23d. 227.14 (2) (a) 8. of the statutes is amended to read:
SB520-SA1,4,222
227.14
(2) (a) 8. The place where comments on the proposed rule should be
23submitted and the deadline for submitting those comments, if the deadline is known
24at the time the proposed rule is submitted to the legislative council staff under s.
1227.15
or, for a rule promulgated under s. 186.118 (2) (a) or (3) (b) 1., submitted as
2provided in s. 186.118 (2) (b) or (3) (b) 2.
SB520-SA1,23t
3Section 23t. 227.20 (3) (c) of the statutes is amended to read:
SB520-SA1,4,54
227.20
(3) (c) That all of the rule-making procedures required by this chapter
5were complied with
, except as provided in s. 186.118 (2) (c) or (3) (b) 3.".
SB520-SA1,4,13
13"
Section 39g. DFI-CU 60.03 (2) of the administrative code is repealed.
SB520-SA1,39r
14Section 39r. DFI-CU 60.03 (3) and (4) of the administrative code are amended
15to read:".
SB520-SA1,5,3
2219. Page 18, line 20: delete the material beginning with "Early" and ending
23with "associations." on line 23 and substitute "
Early withdrawal penalties may be
1enforced up to the maximum permitted by the depository institutions deregulation
2committee for similar types of accounts held in banks and savings and loan
3associations.".
SB520-SA1,5,9
9"
Section 49m. Chapter DFI-CU 67 of the administrative code is repealed.".
SB520-SA1,5,12
11"
Section 60d. Chapter DFI-CU 74 (title) of the administrative code is
12amended to read:
SB520-SA1,5,13
13Chapter DFI-CU 74
SB520-SA1,5,18
14INCIDENTAL POWERS ACTIVITY
15
AUTHORITY PARITY WITH FEDERAL
16
CREDIT UNIONS - DEBT CANCELLATION
17
CONTRACTS AND DEBT SUSPENSION
18
AGREEMENTS
SB520-SA1,60h
19Section 60h. DFI-CU 74.01 of the administrative code is repealed.
SB520-SA1,60j
20Section 60j. DFI-CU 74.02 (7) of the administrative code is repealed.
