SB349-SSA1, s. 18 4Section 18. 215.02 (16) (c) 1. of the statutes, as affected by 1995 Wisconsin Acts
527 and .... (this act), is repealed and recreated to read:
SB349-SSA1,6,96 215.02 (16) (c) 1. Before July 1 of each year the division and the review board
7shall fix a per-hour charge for the services of each examiner used in the examination
8of an association, for the next 12 months. The per-hour charge shall be the same for
9all associations.
SB349-SSA1, s. 19 10Section 19. 215.02 (16) (c) 2. of the statutes is amended to read:
SB349-SSA1,6,1411 215.02 (16) (c) 2. After the per diem per-hour charge for each examiner has
12been fixed by the commissioner and review board, each association shall be
13uniformly billed for examinations during the ensuing year on a fixed per diem
14per-hour basis for each examiner engaged in such an examination.
SB349-SSA1, s. 20 15Section 20. 215.02 (16) (c) 2. of the statutes, as affected by 1995 Wisconsin Acts
1627 and .... (this act), is repealed and recreated to read:
SB349-SSA1,6,1917 215.02 (16) (c) 2. After the per-hour charge for each examiner has been fixed,
18each association shall be uniformly billed for examinations during the ensuing year
19on a fixed per-hour basis for each examiner engaged in an examination.
SB349-SSA1, s. 21 20Section 21. 215.02 (16) (c) 3. of the statutes is amended to read:
SB349-SSA1,6,2321 215.02 (16) (c) 3. Every charge so made to an association Charges assessed
22under this paragraph
shall be paid within 30 days from the time date on which the
23association receives notice of the assessment.
SB349-SSA1, s. 22 24Section 22. 215.02 (16) (d) of the statutes is amended to read:
SB349-SSA1,7,6
1215.02 (16) (d) The commissioner shall charge any special costs and expenses
2incurred because of for special work required by the commissioner, caused by an
3association not having
because an association does not have proper or sufficient
4management or failing fails to keep its books, records and other matters in a
5standard and approved manner. An itemized statement of such special charges must
6be submitted to the association.
SB349-SSA1, s. 23 7Section 23. 215.02 (16) (d) of the statutes, as affected by 1995 Wisconsin Acts
827 and .... (this act), is repealed and recreated to read:
SB349-SSA1,7,139 215.02 (16) (d) The division shall charge any special costs and expenses
10incurred for special work required because an association does not have proper or
11sufficient management or fails to keep its books, records and other matters in a
12standard and approved manner. An itemized statement of special charges must be
13submitted to the association.
SB349-SSA1, s. 24 14Section 24. 215.02 (16) (e) of the statutes is amended to read:
SB349-SSA1,7,1915 215.02 (16) (e) Penalty for failure to pay examination costs. Any An association
16failing to shall pay the charges and assessments under pars. (c) and (d) shall be
17subject to the penalty under par. (b) for each day it fails to pay the charge or
18assessment after it becomes due
when due and shall pay interest at an annual rate
19of 12% on any portion of the charges and assessments that are past due
.
SB349-SSA1, s. 25 20Section 25. 215.03 (2) (b) of the statutes is amended to read:
SB349-SSA1,8,221 215.03 (2) (b) The commissioner may accept an examination-audit made by the
22federal home loan bank board deposit insurance corporation, a federal regulatory
23agency
or any other governmental agency authorized to make examination-audits
24of savings and loan associations pursuant to their rules and regulations. The

1examination-audit must comply with the procedure established by the
2commissioner.
SB349-SSA1, s. 26 3Section 26. 215.03 (2) (b) of the statutes, as affected by 1995 Wisconsin Acts
427 and .... (this act), is repealed and recreated to read:
SB349-SSA1,8,95 215.03 (2) (b) The division may accept an examination-audit made by the
6deposit insurance corporation, a federal regulatory agency or any other
7governmental agency authorized to make examination-audits of associations
8pursuant to their rules and regulations. The examination-audit must comply with
9the procedure established by the division.
SB349-SSA1, s. 27 10Section 27. 215.13 (26) (c) of the statutes is amended to read:
SB349-SSA1,8,1311 215.13 (26) (c) Savings accounts of savings and loan associations, located
12outside the state, providing such if those savings accounts are insured by an
13instrumentality of the United States
the deposit insurance corporation;
SB349-SSA1, s. 28 14Section 28. 215.13 (26) (em) of the statutes is created to read:
SB349-SSA1,8,1615 215.13 (26) (em) Shares of stock, whether purchased or otherwise acquired, in
16a corporation acquiring, placing and operating remote service units under sub. (46).
SB349-SSA1, s. 29 17Section 29. 215.13 (31) of the statutes is amended to read:
SB349-SSA1,8,2018 215.13 (31) Insurance of savings accounts. Insure the savings accounts of
19savers with the federal savings and loan deposit insurance corporation or with
20another instrumentality approved by the commissioner.
SB349-SSA1, s. 30 21Section 30. 215.13 (31) of the statutes, as affected by 1995 Wisconsin Acts 27
22and .... (this act), is repealed and recreated to read:
SB349-SSA1,8,2523 215.13 (31) Insurance of savings accounts. Insure the savings accounts of
24savers with the deposit insurance corporation or with another instrumentality
25approved by the division.
SB349-SSA1, s. 31
1Section 31. 215.21 (16) (a) (intro.) of the statutes is amended to read:
SB349-SSA1,9,32 215.21 (16) (a) (intro.) An association may not make a mortgage loan on the
3security of vacant land, except if the loan is any of the following:
SB349-SSA1, s. 32 4Section 32. 215.21 (16) (a) 5. of the statutes is created to read:
SB349-SSA1,9,65 215.21 (16) (a) 5. A loan to develop or to acquire and develop land for
6commercial or industrial use.
SB349-SSA1, s. 33 7Section 33. 215.21 (16) (d) of the statutes is created to read:
SB349-SSA1,9,98 215.21 (16) (d) An association may not make a mortgage loan on the security
9of or to finance the purchase of vacant land that is acquired or held for speculation.
SB349-SSA1, s. 34 10Section 34. 215.21 (28) of the statutes is amended to read:
SB349-SSA1,9,1811 215.21 (28) (title) Loans outside the lending area. Subject to the rules issued
12by
of the commissioner and without regard to the limitation set forth in sub. (2), an
13association may make or invest its funds in loans, originated and serviced by or
14through an institution, the accounts or deposits of which are insured by the federal
15savings and loan insurance corporation or the federal
deposit insurance corporation
16or by or through an approved federal housing administration mortgagee, in an
17aggregate amount not exceeding 10% of such association's assets on the security of
18real estate or leasehold interests.
SB349-SSA1, s. 35 19Section 35. 215.21 (28) of the statutes, as affected by 1995 Wisconsin Acts 27
20and .... (this act), is repealed and recreated to read:
SB349-SSA1,9,2421 215.21 (28) Loans. Subject to the rules of the division, an association may make
22or invest its funds in loans, originated and serviced by or through an institution, the
23accounts or deposits of which are insured by the deposit insurance corporation or by
24or through an approved federal housing administration mortgagee, in an aggregate

1amount not exceeding 10% of such association's assets on the security of real estate
2or leasehold interests.
SB349-SSA1, s. 36 3Section 36. 215.26 (8) (b) 3. of the statutes is amended to read:
SB349-SSA1,10,64 215.26 (8) (b) 3. Any The deposit insurance corporation or any federal agency
5or other instrumentality approved by the commissioner which is authorized to
6inspect and examine books and records of an insured association.
SB349-SSA1, s. 37 7Section 37. 215.26 (8) (b) 3. of the statutes, as affected by 1995 Wisconsin Acts
827 and .... (this act), is repealed and recreated to read:
SB349-SSA1,10,119 215.26 (8) (b) 3. The deposit insurance corporation or any federal agency or
10other instrumentality approved by the division which is authorized to inspect and
11examine books and records of an insured association.
SB349-SSA1, s. 38 12Section 38. 215.32 (15) (title) of the statutes is amended to read:
SB349-SSA1,10,1513 215.32 (15) (title) Procedure upon taking possession of association whose
14savings accounts are insured by
federal savings and loan deposit insurance
15corporation.
SB349-SSA1, s. 39 16Section 39. 215.32 (15) (a) of the statutes is amended to read:
SB349-SSA1,11,717 215.32 (15) (a) The commissioner may, if the commissioner takes possession
18of any association, the savings accounts of which are to any extent insured by the
19federal savings and loan deposit insurance corporation, tender to said the deposit
20insurance
corporation the appointment as statutory liquidator of such association.
21If the commissioner does not make such tender, the commissioner shall tender to said
22the deposit insurance corporation the appointment as statutory co-liquidator to act
23jointly with the commissioner, but such the co-liquidatorship shall not be for more
24than one year from the date of such tender, at the expiration of which time the
25commissioner shall become the sole liquidator except as herein otherwise provided.

1The commissioner shall tender to said the deposit insurance corporation the
2appointment as sole statutory liquidator of such association whenever said the
3deposit insurance
corporation has become subrogated to the rights of 90 per cent %
4of the liability of such the association on savings accounts. If the deposit insurance
5corporation becomes subrogated as to all the savings accounts in such the
6association, it may then exercise all the powers and privileges herein conferred upon
7it without court approval.
SB349-SSA1, s. 40 8Section 40. 215.32 (15) (a) of the statutes, as affected by 1995 Wisconsin Acts
927 and .... (this act), is repealed and recreated to read:
SB349-SSA1,11,2310 215.32 (15) (a) The division may, if the division takes possession of any
11association, the savings accounts of which are to any extent insured by the deposit
12insurance corporation, tender to the deposit insurance corporation the appointment
13as statutory liquidator of such association. If the division does not make such tender,
14the division shall tender to the deposit insurance corporation the appointment as
15statutory co-liquidator to act jointly with the division, but the co-liquidatorship
16shall not be for more than one year from the date of such tender, at the expiration
17of which time the division shall become the sole liquidator except as herein otherwise
18provided. The division shall tender to the deposit insurance corporation the
19appointment as sole statutory liquidator of such association whenever the deposit
20insurance corporation has become subrogated to the rights of 90% of the liability of
21the association on savings accounts. If the deposit insurance corporation becomes
22subrogated as to all the savings accounts in the association, it may then exercise all
23the powers and privileges conferred upon it without court approval.
SB349-SSA1, s. 41 24Section 41. 215.33 (3) (b) 2. of the statutes is amended to read:
SB349-SSA1,12,5
1215.33 (3) (b) 2. The accounts of the association are insured by the federal
2savings and loan
deposit insurance corporation or any other insurer acceptable to the
3commissioner, or that adequate and sufficient securities have been deposited with
4the state treasurer to assure that the association will meet its obligations to the
5residents of this state.
SB349-SSA1, s. 42 6Section 42. 215.33 (3) (b) 2. of the statutes, as affected by 1995 Wisconsin Acts
727 and .... (this act), is repealed and recreated to read:
SB349-SSA1,12,118 215.33 (3) (b) 2. The accounts of the association are insured by the deposit
9insurance corporation or any other insurer acceptable to the division, or that
10adequate and sufficient securities have been deposited with the state treasurer to
11assure that the association will meet its obligations to the residents of this state.
SB349-SSA1, s. 43 12Section 43. 215.33 (6) of the statutes is amended to read:
SB349-SSA1,12,2213 215.33 (6) Reciprocity. If the laws of another jurisdiction prohibit an
14association chartered by this state and insured by the federal savings and loan
15deposit insurance corporation from doing business in that jurisdiction, no
16association organized under the laws of that jurisdiction may be authorized to do
17business in this state. If the laws of another jurisdiction require the posting of
18securities or impose other additional requirements as a condition of permitting an
19association chartered by this state to do business in that jurisdiction, the
20commissioner may impose similar requirements on an association organized under
21the laws of that jurisdiction before issuing the association a certificate of authority
22to do business in this state.
SB349-SSA1, s. 44 23Section 44. 215.33 (6) of the statutes, as affected by 1995 Wisconsin Acts 27
24and .... (this act), is repealed and recreated to read:
SB349-SSA1,13,9
1215.33 (6) Reciprocity. If the laws of another jurisdiction prohibit an
2association chartered by this state and insured by the deposit insurance corporation
3from doing business in that jurisdiction, no association organized under the laws of
4that jurisdiction may be authorized to do business in this state. If the laws of another
5jurisdiction require the posting of securities or impose other additional requirements
6as a condition of permitting an association chartered by this state to do business in
7that jurisdiction, the division may impose similar requirements on an association
8organized under the laws of that jurisdiction before issuing the association a
9certificate of authority to do business in this state.
SB349-SSA1, s. 45 10Section 45. 215.35 (2) (b) of the statutes is amended to read:
SB349-SSA1,13,1311 215.35 (2) (b) Section 215.36 does not limit any authority of the federal home
12loan bank board or federal savings and loan
regulatory agency or deposit insurance
13corporation in connection with an acquisition under this section.
SB349-SSA1, s. 46 14Section 46. 215.36 (1) (d) of the statutes is amended to read:
SB349-SSA1,13,2015 215.36 (1) (d) "Regional savings and loan" means a foreign association, if its
16accounts are insured by the federal savings and loan deposit insurance corporation,
17or a federal savings and loan association, both having their home offices located in
18one of the regional states and that, if owned or controlled by a company, is owned or
19controlled by a regional state savings and loan holding company or by an in-state
20savings and loan holding company.
SB349-SSA1, s. 47 21Section 47. 215.40 (13) (a) 9. of the statutes is amended to read:
SB349-SSA1,13,2522 215.40 (13) (a) 9. That necessary action has been taken to obtain membership
23in the federal home loan bank, and
insurance of savings accounts from the federal
24savings and loan
deposit insurance corporation or other instrumentality approved
25by the commissioner.
SB349-SSA1, s. 48
1Section 48. 215.40 (13) (a) 9. of the statutes, as affected by 1995 Wisconsin Acts
227 and .... (this act), is repealed and recreated to read:
SB349-SSA1,14,53 215.40 (13) (a) 9. That necessary action has been taken to obtain insurance of
4savings accounts from the deposit insurance corporation or other instrumentality
5approved by the division.
SB349-SSA1, s. 49 6Section 49. 215.53 (title) of the statutes is amended to read:
SB349-SSA1,14,7 7215.53 (title) Absorption involving mutual associations.
SB349-SSA1, s. 50 8Section 50. 215.53 (1) (a) (intro.) of the statutes is amended to read:
SB349-SSA1,14,129 215.53 (1) (a) (intro.) With the consent of the commissioner and subject to any
10condition that the commissioner prescribes, a mutual association organized under
11this chapter may, by an affirmative vote of at least two-thirds of the board of each
12association institution, do any of the following:
SB349-SSA1, s. 51 13Section 51. 215.53 (1) (a) (intro.) of the statutes, as affected by 1995 Wisconsin
14Acts 27 and .... (this act), is repealed and recreated to read:
SB349-SSA1,14,1815 215.53 (1) (a) (intro.) With the consent of the division and subject to any
16condition that the division prescribes, a mutual association organized under this
17chapter may, by an affirmative vote of at least two-thirds of the board of each
18institution, do any of the following:
SB349-SSA1, s. 52 19Section 52. 215.53 (1) (a) 1. of the statutes is amended to read:
SB349-SSA1,14,2220 215.53 (1) (a) 1. Absorb a federal savings and loan association or federal
21savings bank or a state-chartered association or state-chartered savings bank
or be
22absorbed by any thrift institution
.
SB349-SSA1, s. 53 23Section 53. 215.53 (1) (a) 2. of the statutes is repealed.
SB349-SSA1, s. 54 24Section 54. 215.53 (1) (a) 3. of the statutes is repealed.
SB349-SSA1, s. 55 25Section 55. 215.53 (1) (b) of the statutes is amended to read:
SB349-SSA1,15,4
1215.53 (1) (b) The absorbed association, savings bank thrift institution, mutual
2savings and loan holding company or mutual savings bank holding company shall
3transfer its assets and liabilities to the absorbing association thrift institution but
4not to defeat or defraud creditors.
SB349-SSA1, s. 56 5Section 56. 215.53 (2) (a) of the statutes is amended to read:
SB349-SSA1,15,216 215.53 (2) (a) All the rights, franchises and property interests of the absorbed
7association or savings bank thrift institution or, subject to sub. (1) (a) 4., of the
8absorbed mutual savings and loan holding company or mutual savings bank holding
9company shall be deemed to be transferred to the absorbing association thrift
10institution
, which shall hold and enjoy same and all rights of property, franchises and
11interest in the same manner and to the same extent as was held and enjoyed by the
12absorbed association, savings bank thrift institution, mutual savings and loan
13holding company or mutual savings bank holding company. Except as provided in
14s. 215.01 (17), the savers of the absorbed association or savings bank thrift
15institution
or of a subsidiary of an absorbed mutual savings and loan holding
16company or mutual savings bank holding company shall be members of the
17absorbing association thrift institution or, if the absorbing association thrift
18institution
is a subsidiary of a mutual savings and loan holding company, members
19of the mutual savings and loan holding company, and possess and be subject to all
20rights, privileges and duties as provided in the bylaws of the absorbing association
21thrift institution or mutual savings and loan holding company.
SB349-SSA1, s. 57 22Section 57. 215.53 (2) (b) of the statutes is amended to read:
SB349-SSA1,16,323 215.53 (2) (b) Stockholders of an association or savings bank a thrift institution
24absorbed under this section may be compensated by converting the shares of the
25absorbed association or savings bank thrift institution into, in whole or in part:

1obligations or other securities of the absorbing association thrift institution or
2shares, obligations or other securities of any other association thrift institution or
3corporation; or cash or other thing of value.
SB349-SSA1, s. 58 4Section 58. 215.53 (3) of the statutes is amended to read:
SB349-SSA1,16,175 215.53 (3) Withdrawal requests. Any saver in an absorbed association or
6savings bank
thrift institution or in a subsidiary of an absorbed mutual savings and
7loan holding company or mutual savings bank holding company, who intends to file
8a written withdrawal request for savings accounts within one year after the date of
9approval of such absorption by the commissioner, may do so by giving 90 days'
10written notice of such intention, and the savings accounts shall be withdrawn as
11provided in s. 215.17. Any person who has filed such written withdrawal request
12shall remain a member and be subject to all rights, privileges and duties under this
13chapter and the bylaws and the rules and regulations of the absorbing association
14thrift institution or, if the absorbing association thrift institution is a subsidiary of
15a mutual savings and loan holding company, of the mutual savings and loan holding
16company, until the withdrawal value of the savings accounts has been paid to the
17person.
SB349-SSA1, s. 59 18Section 59. 215.53 (3) of the statutes, as affected by 1995 Wisconsin Acts 27
19and .... (this act), is repealed and recreated to read:
SB349-SSA1,17,620 215.53 (3) Withdrawal requests. Any saver in an absorbed thrift institution
21or in a subsidiary of an absorbed mutual savings and loan holding company or
22mutual savings bank holding company, who intends to file a written withdrawal
23request for savings accounts within one year after the date of approval of such
24absorption by the division, may do so by giving 90 days' written notice of such
25intention, and the savings accounts shall be withdrawn as provided in s. 215.17. Any

1person who has filed such written withdrawal request shall remain a member and
2be subject to all rights, privileges and duties under this chapter and the bylaws and
3the rules and regulations of the absorbing thrift institution or, if the absorbing thrift
4institution is a subsidiary of a mutual savings and loan holding company, of the
5mutual savings and loan holding company, until the withdrawal value of the savings
6accounts has been paid to the person.
SB349-SSA1, s. 60 7Section 60. 215.57 (1) (d) 1. of the statutes is amended to read:
SB349-SSA1,17,148 215.57 (1) (d) 1. Within 6 months after the adjournment of a meeting to convert
9into a federal association, the association shall do what is necessary to make it a
10federal association. Within 10 days after the receipt of the federal charter, the
11association shall file with the commissioner a copy of the federal charter certified by
12the federal home loan bank board deposit insurance corporation. Upon such filing
13the association shall cease to be a state-chartered association and shall thereafter
14be a federal association.
SB349-SSA1, s. 61 15Section 61. 215.57 (1) (d) 1. of the statutes, as affected by 1995 Wisconsin Acts
1627 and .... (this act), is repealed and recreated to read:
SB349-SSA1,17,2217 215.57 (1) (d) 1. Within 6 months after the adjournment of a meeting to convert
18into a federal association, the association shall do what is necessary to make it a
19federal association. Within 10 days after the receipt of the federal charter, the
20association shall file with the division a copy of the federal charter certified by the
21deposit insurance corporation. Upon such filing the association shall cease to be a
22state-chartered association and shall thereafter be a federal association.
SB349-SSA1, s. 62 23Section 62. 215.60 (11) (a) 7. of the statutes is amended to read:
SB349-SSA1,18,3
1215.60 (11) (a) 7. That insurance of savings accounts has been obtained from
2the federal savings and loan deposit insurance corporation or other instrumentality
3approved by the commissioner; and
SB349-SSA1, s. 63 4Section 63. 215.60 (11) (a) 7. of the statutes, as affected by 1995 Wisconsin Acts
527 and .... (this act), is repealed and recreated to read:
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