AB150, s. 5508
23Section
5508. 215.02 (6) (a) (intro.) of the statutes is amended to read:
AB150,1814,424
215.02
(6) (a) (intro.)
The commissioner and all All employes of the
office 25department and members of the review board shall keep confidential all the facts and
1information obtained in the course of examinations by the office and all examination
2and other confidential information obtained from any state or federal regulatory
3authority, including an authority of this state or another state, for financial
4institutions, mortgage bankers, insurance or securities, except:
AB150, s. 5509
5Section
5509. 215.02 (6) (a) 3. of the statutes is amended to read:
AB150,1814,106
215.02
(6) (a) 3. Under rules prescribed by the
commissioner department, for
7the purpose of comparing notes as to matters affecting an association with an
8examiner of the federal home loan bank board or federal savings and loan insurance
9corporation as to any association whose savings accounts are insured by the federal
10savings and loan insurance corporation.
AB150, s. 5510
11Section
5510. 215.02 (6) (a) 4. (intro.) of the statutes is amended to read:
AB150,1814,1212
215.02
(6) (a) 4. (intro.) The
commissioner department may:
AB150, s. 5511
13Section
5511. 215.02 (6) (a) 4. a. of the statutes is amended to read:
AB150,1814,1714
215.02
(6) (a) 4. a. Furnish to the federal home loan bank board or federal
15savings and loan insurance corporation or to any official or examiner thereof a copy
16of any examination made by the
office department of any association or of any report
17made by such association and filed with the
office
department.
AB150, s. 5512
18Section
5512. 215.02 (6) (a) 4. b. of the statutes is amended to read:
AB150,1814,2319
215.02
(6) (a) 4. b. Give access to and disclose to the federal home loan bank
20board, federal savings and loan insurance corporation or to any official or examiner
21thereof any information possessed by the
commissioner
department about the
22conditions or affairs of any association whose savings accounts are insured by the
23federal savings and loan insurance corporation.
AB150, s. 5513
24Section
5513. 215.02 (6) (a) 5. of the statutes is amended to read:
AB150,1815,4
1215.02
(6) (a) 5. The
commissioner department may give access to and disclose
2to an instrumentality insuring the savings accounts of an association, or to the
3official examiner of the instrumentality, any information possessed by the
4commissioner department about the conditions or affairs of the association.
AB150, s. 5514
5Section
5514. 215.02 (6) (a) 6. of the statutes is amended to read:
AB150,1815,106
215.02
(6) (a) 6. The
commissioner
department may disclose to any regulatory
7authority of this state or another state for financial institutions, mortgage bankers,
8insurance or securities facts and information obtained in the course of examinations
9by the
office department, if the regulatory authority agrees to keep the facts and
10information confidential.
AB150, s. 5515
11Section
5515. 215.02 (7) (title) of the statutes is amended to read:
AB150,1815,1212
215.02
(7) (title)
Commissioner to issue orders; reasonable Orders and rules.
AB150, s. 5516
13Section
5516. 215.02 (7) (a) of the statutes is amended to read:
AB150,1815,1714
215.02
(7) (a) In addition to performing the duties prescribed in this chapter,
15the
commissioner department shall, with the approval of the review board, issue
16orders prescribing reasonable rules for conducting the business of associations,
17subject to the requirements of ch. 227.
AB150, s. 5517
18Section
5517. 215.02 (7) (c) of the statutes is amended to read:
AB150,1816,1019
215.02
(7) (c) If the
commissioner
department, as a result of any examination
20or report made to the
commissioner department, finds that any association is
21violating the provisions of the articles or bylaws of the association, or the laws of this
22state, or the laws of the United States, or any lawful rule or order promulgated by
23the
commissioner department and review board or any order of the
commissioner 24department, the
commissioner department shall deliver a formal written order to the
25board of directors of the association in which the facts known to the
commissioner
1department are set forth, demanding the discontinuance of the violation and, where
2applicable, order the association to institute corrective action thereon. The
3association affected by the order may within 10 days after the order has been
4delivered to the association request a review of the findings and order before the
5commissioner department, at which time any pertinent evidence may be presented.
6After review, the
commissioner department, on the basis of the evidence presented
7and any matters of record in the
office department's offices, shall continue, modify
8or set aside the order. The enforcement of any order issued under this paragraph
9shall be stayed pending review before the
commissioner
department, and during the
10period of any subsequent review under s. 215.04 (4).
AB150, s. 5518
11Section
5518. 215.02 (7) (d) of the statutes is amended to read:
AB150,1816,1712
215.02
(7) (d) Any association which wilfully violates par. (c) or any order issued
13thereunder shall, for each violation, forfeit not more than $250 per day for each day
14the violation continues. Assessment of any forfeiture shall become effective 20 days
15from the date of delivery of the order, 20 days from the date of review by the
16commissioner department, if requested, or 20 days from the date of the decision of
17the review board, if an appeal is taken pursuant to s. 215.04 (4).
AB150, s. 5519
18Section
5519. 215.02 (8) of the statutes is amended to read:
AB150,1816,2519
215.02
(8) Revocation of certificate of incorporation or license. Whenever
20it appears to the
commissioner department of financial institutions that any
21association or corporation which has received a certificate of incorporation or a
22license to do business in this state is conducting its business in violation of this
23chapter, the
commissioner department of financial institutions shall report the facts
24to the department of justice which may bring an action to revoke the certificate of
25incorporation or license of such association or corporation.
AB150, s. 5520
1Section
5520. 215.02 (9) of the statutes is amended to read:
AB150,1817,82
215.02
(9) Approval of acts. Whenever any association requests approval of
3the
commissioner department for any act, which by statute requires such approval,
4the
commissioner department shall have 90 days in which to grant or deny such
5approval. If the
commissioner department fails to act, approval shall be deemed to
6have been granted. In matters which require the holding of public hearings, the
790-day period shall not commence until the conclusion of the hearing and the date
8set by the
commissioner department for receipt of briefs.
AB150, s. 5521
9Section
5521. 215.02 (10) (a) 1. (intro.) of the statutes is amended to read:
AB150,1817,1110
215.02
(10) (a) 1. (intro.) The
commissioner department may remove an officer,
11director or employe of an association if either of the following applies:
AB150, s. 5522
12Section
5522. 215.02 (10) (a) 1. b. of the statutes is amended to read:
AB150,1817,1513
215.02
(10) (a) 1. b. The officer, director or employe violates or permits the
14violation of this chapter, a rule promulgated under this chapter or an order of the
15commissioner department.
AB150, s. 5523
16Section
5523. 215.02 (10) (a) 2. of the statutes is amended to read:
AB150,1817,2017
215.02
(10) (a) 2. The
commissioner
department may issue an order removing
18an officer, director or employe under subd. 1. only after the officer, director or employe
19is afforded a hearing before the review board and the review board approves the
20order.
AB150, s. 5524
21Section
5524. 215.02 (10) (a) 3. of the statutes is amended to read:
AB150,1818,722
215.02
(10) (a) 3. An order of removal takes effect on the date issued. A copy
23of the order shall be served upon the association and upon the officer, director or
24employe in the manner provided by law for service of a summons in a court of record
25or by mailing a copy to the association and officer, director or employe at their
1last-known post-office addresses. Any removal under this subsection has the same
2effect as if made by the board of directors or the members or stockholders of the
3association. An officer, director or employe removed from office or employment under
4this subsection may not be elected as an officer or director of, or be employed by, an
5association without the approval of the
commissioner
department and the review
6board. An order of removal under this subsection is a final order or determination
7of the review board under s. 215.04 (6).
AB150, s. 5525
8Section
5525. 215.02 (10) (b) of the statutes is amended to read:
AB150,1818,119
215.02
(10) (b) The
commissioner
department may appoint any person to fill
10the vacancies caused by removal of officers or directors. Any person so appointed
11shall hold office until the next annual meeting of the members or stockholders.
AB150, s. 5526
12Section
5526. 215.02 (11) (a) of the statutes is amended to read:
AB150,1818,1813
215.02
(11) (a) The
commissioner
department shall submit to the governor and
14the chief clerk of each house of the legislature for distribution to the legislature under
15s. 13.172 (2) an annual report on the general conduct and condition of associations
16doing business in this state. The report shall be based upon the individual annual
17reports of associations filed with the
commissioner
department, and shall also
18include the information required in ss. 215.32 (7) (a), 215.56 (7) (a) and 215.76 (7) (a).
AB150, s. 5527
19Section
5527. 215.02 (11) (b) of the statutes is amended to read:
AB150,1818,2220
215.02
(11) (b) The
commissioner
department shall designate the number of
21copies of the report to be made available for distribution. Each association is entitled
22to one copy.
AB150, s. 5528
23Section
5528. 215.02 (12) of the statutes is amended to read:
AB150,1819,3
1215.02
(12) Disposition of obsolete records. The
commissioner department 2may turn over obsolete departmental records to the secretary of administration,
3pursuant to s. 16.61.
AB150, s. 5529
4Section
5529. 215.02 (14) (title) of the statutes is amended to read:
AB150,1819,55
215.02
(14) (title)
Fees for office publications.
AB150, s. 5530
6Section
5530. 215.02 (14) (a) of the statutes is amended to read:
AB150,1819,127
215.02
(14) (a) Whenever extra copies of statutory reprints of this chapter, the
8annual report of savings and loan associations or any other publication published by
9the
office department are requested, such extra copies shall be furnished upon
10payment of such fee as the
commissioner department determines. All such fees shall
11be paid by the
commissioner department into the general fund to the credit of the
12office department.
AB150, s. 5531
13Section
5531. 215.02 (15) (a) 1. (intro.) of the statutes is amended to read:
AB150,1819,1614
215.02
(15) (a) 1. (intro.) Within 10 days after any of the following petitions
15have been filed with the
commissioner department, the
commissioner department 16shall proceed to hear the same:
AB150, s. 5532
17Section
5532. 215.02 (15) (b) of the statutes is amended to read:
AB150,1819,2218
215.02
(15) (b) At the time and place so fixed, unless by stipulation some other
19time and place is fixed, the
commissioner department shall hear all parties
20interested and shall cause the testimony given to be reduced to writing
, or the
21commissioner may designate some person employed in the commissioner's office to
22take testimony, hear the petition and file the testimony with the commissioner.
AB150, s. 5533
23Section
5533. 215.02 (15) (c) of the statutes is amended to read:
AB150,1820,3
1215.02
(15) (c) The
commissioner department shall within a reasonable time
2make findings as to all matters covered by the petition and make such order as the
3commissioner department deems just and reasonable.
AB150, s. 5534
4Section
5534. 215.02 (15) (d) of the statutes is amended to read:
AB150,1820,65
215.02
(15) (d) The findings and order of the
commissioner department shall
6be final unless modified by the court.
AB150, s. 5535
7Section
5535. 215.02 (16) (a) of the statutes is amended to read:
AB150,1820,118
215.02
(16) (a)
Annual fee. Associations organized under this chapter shall, on
9or before July 15, pay an annual fee as determined by the
commissioner department 10and the review board, but not exceeding 12 cents per $1,000 of assets or fraction
11thereof, as of the close of the preceding calendar year.
AB150, s. 5536
12Section
5536. 215.02 (16) (b) of the statutes is amended to read:
AB150,1820,1513
215.02
(16) (b)
Penalty for failure to pay fee. An association failing to pay the
14annual fee to the
commissioner department by July 15 of each year shall, if ordered
15by the
commissioner department, forfeit $10 for each day it fails to pay the fee.
AB150, s. 5537
16Section
5537. 215.02 (16) (c) 1. of the statutes is amended to read:
AB150,1820,2117
215.02
(16) (c) 1. On or before June 30 of each year the
commissioner 18department and the review board shall fix a per diem charge for the services of each
19examiner used in the examination of an association, for the next 12 months. Such
20per diem charge shall be the same for all associations. The hours constituting a day
21shall be that which is fixed for state employes by s. 230.35.
AB150, s. 5538
22Section
5538. 215.02 (16) (c) 2. of the statutes is amended to read:
AB150,1821,223
215.02
(16) (c) 2. After the per diem charge for each examiner has been fixed
24by the
commissioner department and review board, each association shall be
1uniformly billed for examinations during the ensuing year on a fixed per diem basis
2for each examiner engaged in such examination.
AB150, s. 5539
3Section
5539. 215.02 (16) (d) of the statutes is amended to read:
AB150,1821,94
215.02
(16) (d)
Special examination costs. The
commissioner department shall
5charge any special costs and expenses incurred because of special work required by
6the
commissioner department, caused by an association not having proper or
7sufficient management or failing to keep its books, records and other matters in a
8standard and approved manner. An itemized statement of such charges must be
9submitted to the association.
AB150, s. 5540
10Section
5540. 215.02 (17) (a) of the statutes is amended to read:
AB150,1821,1211
215.02
(17) (a) The
office department may, in relation to any matter within its
12powers, issue subpoenas and take testimony.
AB150, s. 5541
13Section
5541. 215.02 (17) (b) of the statutes is amended to read:
AB150,1821,1914
215.02
(17) (b) Witnesses shall be entitled to the same fees as are allowed to
15witnesses in courts of record. Such fees shall be audited and paid by the state in the
16same manner as other expenses of the
office department are audited and paid. No
17witness subpoenaed at the instance of any party other than the
office department 18shall be entitled to payment of fees by the state, unless the
office department certifies
19that the testimony of the witness was material to the hearing or proceeding.
AB150, s. 5542
20Section
5542. 215.02 (18) of the statutes is amended to read:
AB150,1822,721
215.02
(18) Authority to grant certain powers. Unless the
commissioner 22department is expressly restricted by statute from acting under this subsection with
23respect to a specific power, right or privilege, the
commissioner department by rule
24may, with the approval of the review board, authorize associations to exercise any
25power under the notice, disclosure or procedural requirements governing federally
1chartered associations or to make any loan or investment or exercise any right, power
2or privilege of federally chartered associations permitted under a federal law,
3regulation or interpretation. Notice, disclosure and procedures prescribed by statute
4which may be modified by a rule adopted under this subsection include, but are not
5limited to, those provided under s. 138.056. A rule adopted under this subsection
6may not affect s. 138.041 or chs. 421 to 428 or restrict powers specifically granted
7associations under this chapter.
AB150, s. 5543
8Section
5543. 215.03 (1) of the statutes is amended to read:
AB150,1822,139
215.03
(1) (title)
Types of associations supervised and controlled by the
10commissioner. All associations organized under this chapter or similar laws, or
11permitted by license to transact, in this state, a business similar to that authorized
12by this chapter, shall be under the supervision and control of the
commissioner 13department.
AB150, s. 5544
14Section
5544. 215.03 (2) (a) of the statutes is amended to read:
AB150,1822,2315
215.03
(2) (a) At least once within every 18-month period, the
commissioner 16department shall examine the cash, bills, collaterals, securities, assets, books of
17account, condition and affairs of all such associations and for that purpose the
18commissioner department or the
department's examiners
appointed by the
19commissioner shall have access to, and may compel the production of, all their books,
20papers, securities and moneys, administer oaths to and examine their officers and
21agents as to their affairs.
Neither the commissioner nor any An employe of the
office
22shall department may not examine an association in which the
commissioner 23employe is interested as an officer or director.
AB150, s. 5545
24Section
5545. 215.03 (2) (b) of the statutes is amended to read:
AB150,1823,5
1215.03
(2) (b) The
commissioner department may accept an examination-audit
2made by the federal home loan bank board or any other governmental agency
3authorized to make examination-audits of savings and loan associations pursuant
4to their rules and regulations. The examination-audit must comply with the
5procedure established by the
commissioner department.
AB150, s. 5546
6Section
5546. 215.03 (5) (title) of the statutes is amended to read:
AB150,1823,87
215.03
(5) (title)
Accounting and bookkeeping procedure prescribed by
8commissioner.
AB150, s. 5547
9Section
5547. 215.03 (5) (a) of the statutes is amended to read:
AB150,1823,1410
215.03
(5) (a) Whenever it appears to the
commissioner department that any
11association does not keep books and accounts in such manner as to enable the
12commissioner department to readily ascertain its true condition, the
commissioner 13department may require the officers of such associations or any of them to open and
14keep such books or accounts as the
commissioner department prescribes.
AB150, s. 5548
15Section
5548. 215.03 (5) (b) of the statutes is amended to read:
AB150,1823,2016
215.03
(5) (b) Any association that fails to open books or keep books or accounts
17as prescribed by the
commissioner department, shall, at the discretion of the
18commissioner department, forfeit $10 for each day it so fails. If the association fails
19to pay the forfeiture, the
commissioner department may institute proceedings to
20recover such forfeitures.
AB150, s. 5549
21Section
5549. 215.03 (6) (a) 1. of the statutes is amended to read:
AB150,1823,2522
215.03
(6) (a) 1. Not later than February 1 of each year each association subject
23to the supervision and control of the
commissioner
department shall file with the
24commissioner department a report of its activities of the preceding year, upon forms
25furnished by the
commissioner department.
AB150, s. 5550
1Section
5550. 215.03 (6) (a) 2. c. of the statutes is amended to read:
AB150,1824,32
215.03
(6) (a) 2. c. Such other information as the
commissioner department 3requires.
AB150, s. 5551
4Section
5551. 215.03 (6) (a) 3. of the statutes is amended to read:
AB150,1824,125
215.03
(6) (a) 3. Attached to the annual report shall be a copy of a printed
6statement of condition and operations as of the end of the association's most recent
7fiscal year, which shall be available to the public. The reports shall be published as
8a class 1 notice, under ch. 985, where the association is located, in the condensed form
9as the
commissioner department prescribes. Proof of publication shall be furnished
10to the
commissioner department within 45 days after the date of the report. The
11printed statement shall contain such information as the
commissioner department 12may by rule prescribe.
AB150, s. 5552
13Section
5552. 215.03 (6) (b) of the statutes is amended to read: