AB150-engrossed,1811,1010
215.02
(6) (a) 4. (intro.) The
commissioner division may:
AB150-engrossed,1811,1512
215.02
(6) (a) 4. a. Furnish to the federal home loan bank board or federal
13savings and loan insurance corporation or to any official or examiner thereof a copy
14of any examination made by the
office division of any association or of any report
15made by such association and filed with the
office
division.
AB150-engrossed,1811,2117
215.02
(6) (a) 4. b. Give access to and disclose to the federal home loan bank
18board, federal savings and loan insurance corporation or to any official or examiner
19thereof any information possessed by the
commissioner
division about the conditions
20or affairs of any association whose savings accounts are insured by the federal
21savings and loan insurance corporation.
AB150-engrossed,1812,223
215.02
(6) (a) 5. The
commissioner
division may give access to and disclose to
24an instrumentality insuring the savings accounts of an association, or to the official
1examiner of the instrumentality, any information possessed by the
commissioner 2division about the conditions or affairs of the association.
AB150-engrossed,1812,84
215.02
(6) (a) 6. The
commissioner
division may disclose to any regulatory
5authority of this state or another state for financial institutions, mortgage bankers,
6insurance or securities facts and information obtained in the course of examinations
7by the
office division, if the regulatory authority agrees to keep the facts and
8information confidential.
AB150-engrossed,1812,1010
215.02
(7) (title)
Commissioner to issue orders; reasonable Orders and rules.
AB150-engrossed,1812,1512
215.02
(7) (a) In addition to performing the duties prescribed in this chapter,
13the
commissioner division shall, with the approval of the review board, issue orders
14prescribing reasonable rules for conducting the business of associations, subject to
15the requirements of ch. 227.
AB150-engrossed,1813,817
215.02
(7) (c) If the
commissioner
division, as a result of any examination or
18report made to the
commissioner division, finds that any association is violating the
19provisions of the articles or bylaws of the association, or the laws of this state, or the
20laws of the United States, or any lawful rule or order promulgated by the
21commissioner division and review board or any order of the
commissioner division,
22the
commissioner division shall deliver a formal written order to the board of
23directors of the association in which the facts known to the
commissioner division are
24set forth, demanding the discontinuance of the violation and, where applicable, order
25the association to institute corrective action thereon. The association affected by the
1order may within 10 days after the order has been delivered to the association
2request a review of the findings and order before the
commissioner division, at which
3time any pertinent evidence may be presented. After review, the
commissioner 4division, on the basis of the evidence presented and any matters of record in the
office 5division's offices, shall continue, modify or set aside the order. The enforcement of
6any order issued under this paragraph shall be stayed pending review before the
7commissioner division, and during the period of any subsequent review under s.
8215.04 (4).
AB150-engrossed,1813,1510
215.02
(7) (d) Any association which wilfully violates par. (c) or any order issued
11thereunder shall, for each violation, forfeit not more than $250 per day for each day
12the violation continues. Assessment of any forfeiture shall become effective 20 days
13from the date of delivery of the order, 20 days from the date of review by the
14commissioner division, if requested, or 20 days from the date of the decision of the
15review board, if an appeal is taken pursuant to s. 215.04 (4).
AB150-engrossed,1813,2217
215.02
(8) Revocation of certificate of incorporation or license. Whenever
18it appears to the
commissioner division that any association or corporation which has
19received a certificate of incorporation or a license to do business in this state is
20conducting its business in violation of this chapter, the
commissioner division shall
21report the facts to the department of justice which may bring an action to revoke the
22certificate of incorporation or license of such association or corporation.
AB150-engrossed,1814,524
215.02
(9) Approval of acts. Whenever any association requests approval of
25the
commissioner division for any act, which by statute requires such approval, the
1commissioner division shall have 90 days in which to grant or deny such approval.
2If the
commissioner division fails to act, approval shall be deemed to have been
3granted. In matters which require the holding of public hearings, the 90-day period
4shall not commence until the conclusion of the hearing and the date set by the
5commissioner division for receipt of briefs.
AB150-engrossed,1814,87
215.02
(10) (a) 1. (intro.) The
commissioner division may remove an officer,
8director or employe of an association if either of the following applies:
AB150-engrossed,1814,1210
215.02
(10) (a) 1. b. The officer, director or employe violates or permits the
11violation of this chapter, a rule promulgated under this chapter or an order of the
12commissioner division.
AB150-engrossed,1814,1714
215.02
(10) (a) 2. The
commissioner
division may issue an order removing an
15officer, director or employe under subd. 1. only after the officer, director or employe
16is afforded a hearing before the review board and the review board approves the
17order.
AB150-engrossed,1815,419
215.02
(10) (a) 3. An order of removal takes effect on the date issued. A copy
20of the order shall be served upon the association and upon the officer, director or
21employe in the manner provided by law for service of a summons in a court of record
22or by mailing a copy to the association and officer, director or employe at their
23last-known post-office addresses. Any removal under this subsection has the same
24effect as if made by the board of directors or the members or stockholders of the
25association. An officer, director or employe removed from office or employment under
1this subsection may not be elected as an officer or director of, or be employed by, an
2association without the approval of the
commissioner
division and the review board.
3An order of removal under this subsection is a final order or determination of the
4review board under s. 215.04 (6).
AB150-engrossed,1815,86
215.02
(10) (b) The
commissioner
division may appoint any person to fill the
7vacancies caused by removal of officers or directors. Any person so appointed shall
8hold office until the next annual meeting of the members or stockholders.
AB150-engrossed,1815,1510
215.02
(11) (a) The
commissioner
division shall submit to the governor and the
11chief clerk of each house of the legislature for distribution to the legislature under
12s. 13.172 (2) an annual report on the general conduct and condition of associations
13doing business in this state. The report shall be based upon the individual annual
14reports of associations filed with the
commissioner
division, and shall also include
15the information required in ss. 215.32 (7) (a), 215.56 (7) (a) and 215.76 (7) (a).
AB150-engrossed,1815,1917
215.02
(11) (b) The
commissioner
division shall designate the number of copies
18of the report to be made available for distribution. Each association is entitled to one
19copy.
AB150-engrossed,1815,2321
215.02
(12) Disposition of obsolete records. The
commissioner division may
22turn over obsolete departmental records to the secretary of administration, pursuant
23to s. 16.61.
AB150-engrossed,1815,2525
215.02
(14) (title)
Fees for office publications.
AB150-engrossed,1816,62
215.02
(14) (a) Whenever extra copies of statutory reprints of this chapter, the
3annual report of savings and loan associations or any other publication published by
4the
office division are requested, such extra copies shall be furnished upon payment
5of such fee as the
commissioner division determines. All such fees shall be paid by
6the
commissioner division into the general fund to the credit of the
office division.
AB150-engrossed,1816,108
215.02
(15) (a) 1. (intro.) Within 10 days after any of the following petitions
9have been filed with the
commissioner division, the
commissioner division shall
10proceed to hear the same:
AB150-engrossed,1816,1612
215.02
(15) (b) At the time and place so fixed, unless by stipulation some other
13time and place is fixed, the
commissioner division shall hear all parties interested
14and shall cause the testimony given to be reduced to writing
, or the commissioner
15may designate some person employed in the commissioner's office to take testimony,
16hear the petition and file the testimony with the commissioner.
AB150-engrossed,1816,2018
215.02
(15) (c) The
commissioner
division shall within a reasonable time make
19findings as to all matters covered by the petition and make such order as the
20commissioner division deems just and reasonable.
AB150-engrossed,1816,2322
215.02
(15) (d) The findings and order of the
commissioner division shall be
23final unless modified by the court.
AB150-engrossed,1817,4
1215.02
(16) (a)
Annual fee. Associations organized under this chapter shall, on
2or before July 15, pay an annual fee as determined by the
commissioner division and
3the review board, but not exceeding 12 cents per $1,000 of assets or fraction thereof,
4as of the close of the preceding calendar year.
AB150-engrossed,1817,86
215.02
(16) (b)
Penalty for failure to pay fee. An association failing to pay the
7annual fee to the
commissioner division by July 15 of each year shall, if ordered by
8the
commissioner division, forfeit $10 for each day it fails to pay the fee.
AB150-engrossed,1817,1410
215.02
(16) (c) 1. On or before June 30 of each year the
commissioner division 11and the review board shall fix a per diem charge for the services of each examiner
12used in the examination of an association, for the next 12 months. Such per diem
13charge shall be the same for all associations. The hours constituting a day shall be
14that which is fixed for state employes by s. 230.35.
AB150-engrossed,1817,1916
215.02
(16) (c) 2. After the per diem charge for each examiner has been fixed
17by the
commissioner division and review board, each association shall be uniformly
18billed for examinations during the ensuing year on a fixed per diem basis for each
19examiner engaged in such examination.
AB150-engrossed,1818,221
215.02
(16) (d)
Special examination costs. The
commissioner division shall
22charge any special costs and expenses incurred because of special work required by
23the
commissioner division, caused by an association not having proper or sufficient
24management or failing to keep its books, records and other matters in a standard and
1approved manner. An itemized statement of such charges must be submitted to the
2association.
AB150-engrossed,1818,54
215.02
(17) (a) The
office division may, in relation to any matter within its
5powers, issue subpoenas and take testimony.
AB150-engrossed,1818,127
215.02
(17) (b) Witnesses shall be entitled to the same fees as are allowed to
8witnesses in courts of record. Such fees shall be audited and paid by the state in the
9same manner as other expenses of the
office division are audited and paid. No
10witness subpoenaed at the instance of any party other than the
office division shall
11be entitled to payment of fees by the state, unless the
office division certifies that the
12testimony of the witness was material to the hearing or proceeding.
AB150-engrossed,1818,2514
215.02
(18) Authority to grant certain powers. Unless the
commissioner 15division is expressly restricted by statute from acting under this subsection with
16respect to a specific power, right or privilege, the
commissioner division by rule may,
17with the approval of the review board, authorize associations to exercise any power
18under the notice, disclosure or procedural requirements governing federally
19chartered associations or to make any loan or investment or exercise any right, power
20or privilege of federally chartered associations permitted under a federal law,
21regulation or interpretation. Notice, disclosure and procedures prescribed by statute
22which may be modified by a rule adopted under this subsection include, but are not
23limited to, those provided under s. 138.056. A rule adopted under this subsection
24may not affect s. 138.041 or chs. 421 to 428 or restrict powers specifically granted
25associations under this chapter.
AB150-engrossed,1819,62
215.03
(1) (title)
Types of associations supervised and controlled by the
3commissioner. All associations organized under this chapter or similar laws, or
4permitted by license to transact, in this state, a business similar to that authorized
5by this chapter, shall be under the supervision and control of the
commissioner 6division.
AB150-engrossed,1819,168
215.03
(2) (a) At least once within every 18-month period, the
commissioner 9division shall examine the cash, bills, collaterals, securities, assets, books of account,
10condition and affairs of all such associations and for that purpose the
commissioner 11division or the
division's examiners
appointed by the commissioner shall have access
12to, and may compel the production of, all their books, papers, securities and moneys,
13administer oaths to and examine their officers and agents as to their affairs.
Neither
14the commissioner nor any An employe of the
office shall division may not examine
15an association in which the
commissioner employe is interested as an officer or
16director.
AB150-engrossed,1819,2218
215.03
(2) (b) The
commissioner division may accept an examination-audit
19made by the federal home loan bank board or any other governmental agency
20authorized to make examination-audits of savings and loan associations pursuant
21to their rules and regulations. The examination-audit must comply with the
22procedure established by the
commissioner division.
AB150-engrossed,1819,2524
215.03
(5) (title)
Accounting and bookkeeping procedure prescribed by
25commissioner.
AB150-engrossed,1820,62
215.03
(5) (a) Whenever it appears to the
commissioner division that any
3association does not keep books and accounts in such manner as to enable the
4commissioner division to readily ascertain its true condition, the
commissioner 5division may require the officers of such associations or any of them to open and keep
6such books or accounts as the
commissioner division prescribes.
AB150-engrossed,1820,128
215.03
(5) (b) Any association that fails to open books or keep books or accounts
9as prescribed by the
commissioner division, shall, at the discretion of the
10commissioner division, forfeit $10 for each day it so fails. If the association fails to
11pay the forfeiture, the
commissioner division may institute proceedings to recover
12such forfeitures.
AB150-engrossed,1820,1714
215.03
(6) (a) 1. Not later than February 1 of each year each association subject
15to the supervision and control of the
commissioner
division shall file with the
16commissioner division a report of its activities of the preceding year, upon forms
17furnished by the
commissioner division.
AB150-engrossed,1820,2019
215.03
(6) (a) 2. c. Such other information as the
commissioner division 20requires.
AB150-engrossed,1821,422
215.03
(6) (a) 3. Attached to the annual report shall be a copy of a printed
23statement of condition and operations as of the end of the association's most recent
24fiscal year, which shall be available to the public. The reports shall be published as
25a class 1 notice, under ch. 985, where the association is located, in the condensed form
1as the
commissioner division prescribes. Proof of publication shall be furnished to
2the
commissioner division within 45 days after the date of the report. The printed
3statement shall contain such information as the
commissioner division may by rule
4prescribe.
AB150-engrossed,1821,106
215.03
(6) (b) If such association fails or refuses to furnish the report herein
7required, it shall be subject, at the discretion of the
commissioner division, to a
8forfeiture of $10 per day for each day of default, and the
commissioner division may
9maintain an action
in the name of the state to recover such penalty, and the same
10shall be paid into the general fund.
AB150-engrossed,1821,1512
215.03
(7) (a) Any association which determines to move its home office or
13branch to some other location not more than one mile from its then location shall
14make an application to the
commissioner division. The
commissioner division may
15approve or deny such application for relocation.