SB45,1075,2525 (c) The filing is not intended to harass any other party to the proceeding.
SB45,1076,2
1(d) The filing is not intended to create a needless increase in the cost of
2litigation.
SB45,1076,8 3(2) No later than 60 days after a complaint is filed under s. 196.26 or 196.30,
4the commission shall determine whether the complaint has been filed in violation of
5sub. (1). If, after notice and opportunity for hearing, the commission determines
6under this subsection that a person has filed a complaint in violation of sub. (1), the
7commission shall terminate the proceeding on the complaint and proceed under sub.
8(4).
SB45,1076,12 9(3) If, at any time during a proceeding under s. 196.26, 196.28 or 196.30, the
10commission determines, after notice and reasonable opportunity to be heard, that a
11person has made a filing in violation of sub. (1), including the filing of a complaint,
12the commission shall proceed under sub. (4).
SB45,1077,2 13(4) If the commission determines that a person has violated sub. (1), the
14commission shall order the person to pay to any party to the proceeding the amount
15of reasonable expenses incurred by that party because of the filing, including
16reasonable attorney fees, and the commission may directly assess a forfeiture
17against the person of not less than $25 nor more than $5,000. A person against whom
18the commission assesses a forfeiture under this subsection shall pay the forfeiture
19to the commission within 10 days after receipt of notice of the assessment or, if the
20person petitions for judicial review under ch. 227, within 10 days after receipt of the
21final decision after exhaustion of judicial review. The commission shall remit all
22forfeitures paid under this subsection to the state treasurer for deposit in the school
23fund. The attorney general may bring an action in the name of the state to collect
24any forfeiture assessed by the commission under this subsection that has not been

1paid as provided in this subsection. The only contestable issue in such an action is
2whether or not the forfeiture has been paid.
SB45, s. 2336 3Section 2336. 196.77 of the statutes is amended to read:
SB45,1077,13 4196.77 Promotional rates. Except as provided in this section, nothing in this
5chapter prohibits a telecommunications utility from filing a tariff to make a limited
6offering of promotional rates. A promotional rate under this section shall take effect
7automatically at the time specified in the tariff but not earlier than 10 days after the
8date the tariff is filed with the commission
unless the commission authorizes an
9earlier effective date or
suspends the tariff within 10 days after the date on which
10it is filed. The commission may suspend a tariff if it believes that the tariff violates
11s. 196.204, 196.209 or 196.219. If the commission suspends a tariff, it shall
12investigate and resolve the matter within 60 days after the date on which the tariff
13is suspended or the tariff shall be effective as filed.
SB45, s. 2337 14Section 2337. 214.01 (1) (im) of the statutes is amended to read:
SB45,1077,1515 214.01 (1) (im) "Division" means the division of savings and loan institutions.
SB45, s. 2338 16Section 2338. 214.592 of the statutes is amended to read:
SB45,1077,20 17214.592 Financially related services tie-ins. In any transaction conducted
18by a savings bank, a savings bank holding company or a subsidiary of either with a
19customer who is also a customer of any other subsidiary of any of them, the customer
20shall be given a notice in 12-point boldface type in substantially the following form:
SB45,1077,2121 NOTICE OF RELATIONSHIP
SB45,1078,222 This company, .... (insert name and address of savings bank, savings bank
23holding company or subsidiary), is related to .... (insert name and address of savings
24bank, savings bank holding company or subsidiary) of which you are also a customer.

1You may not be compelled to buy any product or service from either of the above
2companies or any other related company in order to participate in this transaction.
SB45,1078,73 If you feel that you have been compelled to buy any product or service from
4either of the above companies or any other related company in order to participate
5in this transaction, you should contact the management of either of the above
6companies at either of the above addresses or the division of savings and loan
7institutions at .... (insert address).
SB45, s. 2339 8Section 2339. 215.01 (6) of the statutes is amended to read:
SB45,1078,99 215.01 (6) "Division" means the division of savings and loan institutions.
SB45, s. 2340 10Section 2340. 215.02 (title) of the statutes is amended to read:
SB45,1078,11 11215.02 (title) Division of savings and loan institutions.
SB45, s. 2341 12Section 2341. 215.141 of the statutes is amended to read:
SB45,1078,17 13215.141 Financially related services tie-ins. In any transaction conducted
14by an association, a savings and loan holding company or a subsidiary of either with
15a customer who is also a customer of any other subsidiary of any of them, the
16customer shall be given a notice in 12-point boldface type in substantially the
17following form:
SB45,1078,1818 NOTICE OF RELATIONSHIP
SB45,1078,2419 This company, ..... (insert name and address of association, savings and loan
20holding company or subsidiary), is related to ..... (insert name and address of
21association, savings and loan holding company or subsidiary) of which you are also
22a customer. You may not be compelled to buy any product or service from either of
23the above companies or any other related company in order to participate in this
24transaction.
SB45,1079,5
1If you feel that you have been compelled to buy any product or service from
2either of the above companies or any other related company in order to participate
3in this transaction, you should contact the management of either of the above
4companies at either of the above addresses or the division of savings and loan
5institutions at .... (insert address).
SB45, s. 2342 6Section 2342. 218.015 (7) of the statutes is amended to read:
SB45,1079,127 218.015 (7) In Except as provided in s. 893.83, in addition to pursuing any other
8remedy, a consumer may bring an action to recover for any damages caused by a
9violation of this section. The court shall award a consumer who prevails in such an
10action twice the amount of any pecuniary loss, together with costs, disbursements
11and reasonable attorney fees, and any equitable relief the court determines
12appropriate.
SB45, s. 2343 13Section 2343. 220.04 (9) (a) 2. of the statutes is amended to read:
SB45,1079,1614 220.04 (9) (a) 2. "Regulated entity" means a bank, universal bank, trust
15company bank and any other entity which is described in s. 220.02 (2) or 221.0526
16as under the supervision and control of the division.
SB45, s. 2344 17Section 2344. 221.0303 (2) of the statutes is amended to read:
SB45,1080,918 221.0303 (2) Operation and acquisition of customer bank communications
19terminals.
A bank may, directly or indirectly, acquire, place and operate, or
20participate in the acquisition, placement and operation of, at locations other than its
21main or branch offices, customer bank communications terminals, in accordance
22with rules established by the division. The rules of the division shall provide that
23any such customer bank communications terminal shall be available for use, on a
24nondiscriminatory basis, by any state or national bank and by all customers
25designated by a bank using the terminal. This subsection does not authorize a bank

1which has its principal place of business outside this state to conduct banking
2business in this state. The customer bank communications terminals also shall be
3available for use, on a nondiscriminatory basis, by any credit union, savings and loan
4association or savings bank, if the credit union, savings and loan association or
5savings bank requests to share its use, subject to rules jointly established by the
6division of banking, the office of credit unions and the division of savings and loan
7institutions. The division by order may authorize the installation and operation of
8a customer bank communications terminal in a mobile facility, after notice and
9hearing upon the proposed service stops of the mobile facility.
SB45, s. 2345 10Section 2345. 221.0321 (5) of the statutes is amended to read:
SB45,1080,1911 221.0321 (5) Certain secured loans. A bank may make loans secured by
12assignment or transfer of stock certificates or other evidence of the borrower's
13ownership interest in a corporation formed for the cooperative ownership of real
14estate. Sections 846.10 and 846.101, as they apply to a foreclosure of a mortgage
15involving a one-family residence, apply to a proceeding to enforce the lender's rights
16in security given for a loan under this subsection. The division shall promulgate joint
17rules with the office of credit unions and the division of savings and loan institutions
18that establish procedures for enforcing a lender's rights in security given for a loan
19under this subsection.
SB45, s. 2346 20Section 2346. Chapter 222 of the statutes is created to read:
SB45,1080,2221 CHAPTER 222
22 UNIVERSAL BANKS
SB45,1080,2423 Subchapter I
24 General Provisions
SB45,1081,2
1222.0101 Title. This chapter may be cited as the "Wisconsin universal bank
2law".
SB45,1081,3 3222.0102 Definitions. In this chapter:
SB45,1081,4 4(1) "Adequately capitalized" has the meaning given in 12 USC 1831o (b) (1) (B).
SB45,1081,7 5(2) "Capital" of a universal bank means the sum of the following, less the
6amount of intangible assets that is not considered to be qualifying capital by a deposit
7insurance corporation or the division:
SB45,1081,128 (a) For a universal bank organized as a stock organization, the universal bank's
9capital stock, preferred stock, undivided profits, surplus, outstanding notes and
10debentures approved by the division, other forms of capital designated as capital by
11the division and other forms of capital considered to be qualifying capital of the
12universal bank by a deposit insurance corporation.
SB45,1081,1713 (b) For a universal bank organized as a mutual organization, the universal
14bank's net worth, undivided profits, surplus, outstanding notes and debentures
15approved by the division, other forms of capital designated as capital by the division
16and other forms of capital considered to be qualifying capital by a deposit insurance
17corporation.
SB45,1081,21 18(3) "Deposit insurance corporation" means the Federal Deposit Insurance
19Corporation or other instrumentality of, or corporation chartered by, the United
20States that insures deposits of financial institutions and that is supported by the full
21faith and credit of the U.S. government as stated in a congressional resolution.
SB45,1081,22 22(4) "Division" means the division of banking.
SB45,1081,25 23(5) "Financial institution" means a state savings bank organized under ch. 214,
24state savings and loan association organized under ch. 215 or a state bank chartered
25under ch. 221.
SB45,1082,2
1(6) "Universal bank" means a financial institution that has been issued a
2certificate of authority under s. 222.0205.
SB45,1082,3 3(7) "Well-capitalized" has the meaning given in 12 USC 1831o (b) (1) (A).
SB45,1082,8 4222.0103 Applicability. (1) Savings banks. A universal bank that is a savings
5bank organized under ch. 214 remains subject to all of the requirements, duties and
6liabilities, and may exercise all of the powers, of a savings bank, except that in the
7event of a conflict between this chapter and those requirements, duties, liabilities or
8powers, this chapter shall control.
SB45,1082,13 9(2) Savings and loan associations. A universal bank that is a savings and loan
10association organized under ch. 215 remains subject to all of the requirements,
11duties and liabilities, and may exercise all of the powers, of a savings and loan
12association, except that, in the event of a conflict between this chapter and those
13requirements, duties, liabilities or powers, this chapter shall control.
SB45,1082,17 14(3) Banks. A universal bank that is a bank chartered under ch. 221 remains
15subject to all of the requirements, duties and liabilities, and may exercise all of the
16powers, of a bank, except that, in the event of a conflict between this chapter and
17these requirements, duties, liabilities or powers, this chapter shall control.
SB45,1082,20 18222.0105 Fees. The division may establish such fees as it determines are
19appropriate for documents filed with the division under this chapter and for services
20provided by the division under this chapter.
SB45,1082,22 21222.0107 Administration. (1) Powers of division. The division shall
22administer this chapter for all universal banks.
SB45,1083,2 23(2) Rule-making authority. The division may promulgate rules to administer
24and carry out this chapter. The division may establish additional limits or
25requirements on universal banks, if the division determines that the limits or

1requirements are necessary for the protection of depositors, members, investors or
2the public.
SB45,1083,43 SUBCHAPTER II
4 Certification
SB45,1083,9 5222.0201 Procedure. (1) Application. A financial institution may apply to
6become certified as a universal bank by filing a written application with the division.
7The application shall include such information as the division may require. The
8application shall be on such forms and in accordance with such procedures as the
9division may prescribe.
SB45,1083,13 10(2) Review by division. An application submitted to the division shall either
11be approved or disapproved by the division in writing within 60 days after its
12submission to the division. The division and the financial institution may mutually
13agree to extend the application period for an additional period of 60 days.
SB45,1083,16 14222.0203 Eligibility. (1) Requirements. The division shall approve an
15application for certification as a universal bank, if the applying financial institution
16meets all of the following requirements:
SB45,1083,1917 (a) The financial institution is chartered or organized, and regulated, under ch.
18214, 215 or 221 and has been in existence and continuous operation for a minimum
19of 3 years prior to the date of the application.
SB45,1083,2020 (b) The financial institution is well-capitalized or adequately capitalized.
SB45,1083,2521 (c) The financial institution does not exhibit a combination of financial,
22managerial, operational and compliance weaknesses that is moderately severe or
23unsatisfactory, as determined by the division based upon the division's assessment
24of the financial institution's capital adequacy, asset quality, management capability,
25earnings quantity and quality, adequacy of liquidity, and sensitivity to market risk.
SB45,1084,4
1(d) During the 12-month period prior to the application, the financial
2institution has not been the subject of an enforcement action and there is no
3enforcement action pending against the financial institution by any state or federal
4financial institution regulatory agency, including the division.
SB45,1084,7 5(2) Failure to maintain compliance. For any period during which a universal
6bank fails to meet the requirements under sub. (1), the division may by order limit
7or restrict the exercise of the powers of the universal bank under this chapter.
SB45,1084,11 8222.0205 Certificate of authority. Upon approval of the application under
9s. 222.0201 for certification as a universal bank, the division shall issue to the
10applicant a certificate of authority stating that the financial institution is certified
11as a universal bank under this chapter.
SB45,1084,18 12222.0207 Decertification. A financial institution that is certified as a
13universal bank under this chapter may elect to terminate its certification upon 60
14days' prior written notice to the division and written approval of the division. The
15financial institution shall, as a condition to the termination, terminate its exercise
16of all powers granted under this chapter prior to the termination of the certification.
17Written approval of the termination by the division is void if the financial institution
18fails to satisfy the precondition to termination under this section.
SB45,1084,2019 SUBCHAPTER III
20 ORGANIZATION
SB45,1084,25 21222.0301 Articles of incorporation and bylaws. A universal bank shall
22continue to operate under its articles of incorporation and bylaws as in effect prior
23to certification as a universal bank or as such articles or bylaws may be subsequently
24amended in accordance with the provisions of the chapter under which the universal
25bank was organized or chartered.
SB45,1085,7
1222.0303 Name. (1) Use of "bank". Notwithstanding ss. 214.035, 215.40 (1)
2and 215.60 (1) and subject to subs. (2) and (4), a universal bank may use the word
3"bank" in its name, without having to include the word "savings". Notwithstanding
4ss. 215.40 (1) and 215.60 (1) and subject to subs. (2) and (4), a universal bank that
5is organized under ch. 215 and that uses the word "bank" in its name in accordance
6with this section need not include the words "savings and loan association" or
7"savings association" in its name.
SB45,1085,10 8(2) Distinguishability. Except as provided in subs. (3) and (4), the name of the
9universal bank shall be distinguishable upon the records of the division from all of
10the following names:
SB45,1085,1211 (a) The name of any other financial institution organized under the laws of this
12state.
SB45,1085,1413 (b) The name of a national bank or foreign bank authorized to transact business
14in this state.
SB45,1085,1815 (3) Exceptions. A universal bank may apply to the division for authority to use
16a name that does not meet the requirement under sub. (2). The division may
17authorize the use of the name if any of the conditions under s. 221.0403 (2) (a) or (b)
18is met.
SB45,1085,21 19(4) Use of same name. A universal bank may use a name that is used in this
20state by another financial institution or by an institution authorized to transact
21business in this state, if the universal bank has done any of the following:
SB45,1085,2222 (a) Merged with the other institution.
SB45,1085,2323 (b) Been formed by reorganization of the other institution.
SB45,1085,2524 (c) Acquired all or substantially all of the assets, including the name, of the
25other institution.
SB45,1086,3
1222.0305 Capital and assets. (1) Capital requirements. Notwithstanding
2subch. VI of ch. 214 and ss. 215.24 and 221.0205, the division shall determine the
3minimum capital requirements of universal banks.
SB45,1086,5 4(2) Certain asset requirements. Section 214.045 does not apply to universal
5banks.
SB45,1086,12 6222.0307 Acquisitions, mergers and asset purchases. (1) In general. A
7universal bank may, with the approval of the division, purchase the assets of, merge
8with, acquire or be acquired by any other financial institution, universal bank,
9national bank, federally chartered savings bank or savings and loan association, or
10by a holding company of any of these entities. Notwithstanding subch. III of ch. 214
11and ss. 214.09 and 215.36, the approval of the division of savings institutions is not
12required.
SB45,1086,16 13(2) Applications for approval. An application for approval under sub. (1) shall
14be submitted on a form prescribed by the division and accompanied by a fee
15determined by the division. In processing and acting on applications under this
16section the division shall apply the following standards:
SB45,1086,1817 (a) For universal banks organized under ch. 214, ss. 214.09, 214.62 to 214.64
18and 214.665 and subch. III of ch. 214.
SB45,1086,2019 (b) For universal banks organized under ch. 215, ss. 215.35, 215.36, 215.53 and
20215.73.
SB45,1086,2121 (c) For universal banks chartered under ch. 221, subchs. VII and IX of ch. 221.
SB45,1086,2322 SUBCHAPTER IV
23 POWERS
SB45,1087,3 24222.0401 Federal financial institution powers. (1) In general. Subject
25to the limitations in this section, universal banks may exercise all powers that may

1be exercised, directly or indirectly through a subsidiary, by a federally chartered
2savings bank, a federally chartered savings and loan association, a federally
3chartered national bank or by an affiliate of such an institution.
SB45,1087,6 4(2) Required notification for exercise of a federal power. A universal bank
5shall give 60 days' prior written notice to the division of the universal bank's
6intention to exercise a power under this section.
SB45,1087,10 7(3) Exercise of federal powers through a subsidiary. The division may
8require that certain powers exercisable by universal banks under this section be
9exercised through a subsidiary of the universal bank with appropriate safeguards to
10limit the risk exposure of the universal bank.
SB45,1087,13 11222.0403 Loan powers. (1) Permitted purposes. A universal bank may
12make, sell, purchase, arrange, participate in, invest in or otherwise deal in loans or
13extensions of credit for any purpose.
SB45,1087,19 14(2) In general. Except as provided in subs. (3) to (8), the total liabilities of any
15person, other than a municipal corporation, to a universal bank for a loan or
16extension of credit may not exceed 20% of the capital of the universal bank at any
17time. In determining compliance with this section, liabilities of a partnership
18includes the liabilities of the general partners, computed individually as to each
19general partner on the basis of his or her direct liability.
SB45,1087,22 20(3) Certain secured liabilities. The percentage limitation under sub. (2) is
2150% of the universal bank's capital, if the liabilities under sub. (2) are limited to the
22following types of liabilities:
SB45,1088,223 (a) Warehouse receipts. A liability secured by warehouse receipts issued by
24warehouse keepers who are licensed and bonded in this state under ss. 99.02 and

199.03 or under the federal Bonded Warehouse Act or who hold a registration
2certificate under ch. 127, if all of the following requirements are met:
SB45,1088,33 1. The receipts cover readily marketable nonperishable staples.
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