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:
AB150,1824,1814
215.03
(6) (b) If such association fails or refuses to furnish the report herein
15required, it shall be subject, at the discretion of the
commissioner department, to a
16forfeiture of $10 per day for each day of default, and the
commissioner department 17may maintain an action
in the name of the state to recover such penalty, and the same
18shall be paid into the general fund.
AB150, s. 5553
19Section
5553. 215.03 (7) (a) of the statutes is amended to read:
AB150,1824,2320
215.03
(7) (a) Any association which determines to move its home office or
21branch to some other location not more than one mile from its then location shall
22make an application to the
commissioner department. The
commissioner 23department may approve or deny such application for relocation.
AB150, s. 5554
24Section
5554. 215.03 (7) (b) of the statutes is amended to read:
AB150,1825,8
1215.03
(7) (b) Any association which determines to move its home office or
2branch to some other location more than one mile from its then location shall make
3an application to the
commissioner department. The
commissioner department 4shall give notice and provide an opportunity for hearing as provided in s. 215.40 (7).
5In approving or denying the application for relocation, the
commissioner department 6shall ascertain the need for relocation and determine whether undue harm or injury
7would be caused to any properly conducted association or branch now doing business
8in the area or vicinity of the proposed relocation.
AB150, s. 5555
9Section
5555. 215.03 (8) (a) of the statutes is amended to read:
AB150,1825,1910
215.03
(8) (a) Any association desiring to establish a branch office, subject to
11the limitations of s. 215.13 (39), shall apply to the
commissioner department in such
12form as the
commissioner department prescribes, giving such information as the
13commissioner department requires. Each application shall be accompanied by a fee
14of $500. The
commissioner department shall give notice and provide an opportunity
15for hearing as provided in s. 215.40 (7). The
commissioner department may grant
16certificates of authority to maintain and operate branch offices or may refuse to issue
17certificates when, in the
commissioner's department's opinion, such branch is not in
18the best interests of the public, or when other good and sufficient reasons exist for
19refusal.
AB150, s. 5556
20Section
5556. 215.03 (8) (b) of the statutes is amended to read:
AB150,1825,2521
215.03
(8) (b) It is the intent of this section to provide adequate and convenient
22savings and loan facilities for the public. When 2 or more applications for a branch
23in the same area are pending, priority of application shall be considered but not be
24controlling, and the
commissioner department shall give consideration to the
25equitable distribution of branches among the associations making application.
AB150, s. 5557
1Section
5557. 215.03 (8) (c) of the statutes is amended to read:
AB150,1826,32
215.03
(8) (c) Review of the decision of the
commissioner department in regard
3to applications for branches shall be governed by s. 215.04 (4).
AB150, s. 5558
4Section
5558. 215.04 (1) (a) of the statutes is amended to read:
AB150,1826,65
215.04
(1) (a) Advise the
commissioner, deputy commissioner and others 6department in respect to improvement in the condition and service of associations;
AB150, s. 5559
7Section
5559. 215.04 (1) (b) of the statutes is amended to read:
AB150,1826,98
215.04
(1) (b) Review the acts, orders and determinations of the
commissioner 9department under sub. (4);
AB150, s. 5560
10Section
5560. 215.04 (1) (c) of the statutes is amended to read:
AB150,1826,1211
215.04
(1) (c) Act promptly on matters and questions, pertaining to
12associations, that may be submitted to it by the
commissioner department;
AB150, s. 5561
13Section
5561. 215.04 (3) (b) of the statutes is amended to read:
AB150,1826,1714
215.04
(3) (b) The fees of witnesses who are called by the review board in the
15interests of the state shall be paid by the state in the same manner that other
16expenses are paid, upon presentation of proper vouchers approved by a member of
17the review board and charged to the appropriation of the
office department.
AB150, s. 5562
18Section
5562. 215.04 (4) of the statutes is amended to read:
AB150,1827,619
215.04
(4) Review of grievances, orders or determinations. Any interested
20person or any association aggrieved by any act, order or determination of the
21commissioner department, which relates to savings and loan associations may,
22within 20 days thereof, apply to the review board to review the action of the
23commissioner department. The sole review of the
commissioner's department's 24decision shall be to determine whether or not the
commissioner department has
25acted within the scope of the
commissioner's department's authority, has not acted
1in an arbitrary or capricious manner, and that the act, order or determination of the
2commissioner department is supported by substantial evidence in view of the entire
3record as submitted. The review of applications for branches, relocation of
4association offices or new charters shall be based exclusively on the record, and no
5new evidence shall be taken by the review board. Applications under this subsection
6shall be considered and disposed of as speedily as possible.
AB150, s. 5563
7Section
5563. 215.04 (6) of the statutes is amended to read:
AB150,1827,128
215.04
(6) Review of final orders and determinations. Any final order or
9determination of the review board shall be subject to review under ch. 227. If an act,
10order or determination of the
commissioner department is reversed or modified by
11the review board, the
commissioner department shall be deemed a person aggrieved
12and directly affected thereby under s. 227.53 (1).
AB150, s. 5564
13Section
5564. 215.11 (1) of the statutes is amended to read:
AB150,1827,2314
215.11
(1) Who shall furnish bond; type and form. Before entry upon the
15discharge of the person's duties, every person appointed or elected to any position
16requiring receipt, payment or custody of money or other personal property of an
17association or in its custody or control as collateral or otherwise shall give a bond in
18some surety company, licensed by this state, in such sum as the
commissioner 19department prescribes. In lieu of individual bonds, the
commissioner department 20may accept a schedule or blanket bond which covers all of the officers, directors and
21employes of the association, whose duties include the receipt, payment or custody of
22money or other personal property. Such bonds shall be in the form prescribed by the
23commissioner department.
AB150, s. 5565
24Section
5565. 215.11 (2) of the statutes is amended to read:
AB150,1828,6
1215.11
(2) (title)
Surety bonds to be approved by the board and filed with the
2commissioner. No officer, director or employe who is required to give bond shall enter
3upon the discharge of the person's duties until the person's bond has been approved
4by the board. The minute book of the association shall contain a record of each bond
5executed and approved. Such bonds shall be filed with the
commissioner department 6within 10 days after approval by the board.
AB150, s. 5566
7Section
5566. 215.11 (3) of the statutes is amended to read: