AB1-ASA1-AA1, s. 346pt 18Section 346pt. 186.113 (24) of the statutes is created to read:
AB1-ASA1-AA1,180,2019 186.113 (24) Funeral trusts. Accept deposits made by members for the
20purpose of funding burial agreements by trusts created pursuant to s. 445.125.
AB1-ASA1-AA1, s. 346pu 21Section 346pu. 186.20 of the statutes is created to read:
AB1-ASA1-AA1,180,24 22186.20 Financial privacy. A credit union shall comply with any applicable
23requirements under 15 USC 6801 to 6803 and any applicable regulations prescribed
24by the national credit union administration under 15 USC 6804.
AB1-ASA1-AA1, s. 346pv 25Section 346pv. 186.235 (7) (a) (intro.) of the statutes is amended to read:
AB1-ASA1-AA1,181,6
1186.235 (7) (a) (intro.) Employees of the office of credit unions and members
2of the review board shall keep secret all the facts and information obtained in the
3course of examinations, except or contained in any report provided by a credit union
4other than any semiannual or quarterly financial report that is regularly filed with
5the office of credit unions. This requirement does not apply
in any of the following
6situations:
AB1-ASA1-AA1, s. 346pw 7Section 346pw. 186.235 (7) (c) of the statutes is created to read:
AB1-ASA1-AA1,181,118 186.235 (7) (c) If any person mentioned in par. (a) discloses any information
9about the private account or transactions of a credit union or any information
10obtained in the course of an examination of a credit union, except as provided in pars.
11(a) and (b), that person is guilty of a Class I felony.
AB1-ASA1-AA1, s. 346px 12Section 346px. 186.235 (7m) of the statutes is created to read:
AB1-ASA1-AA1,181,1513 186.235 (7m) Return of examination reports. Examination reports possessed
14by a credit union are confidential, remain the property of the office of credit unions,
15and shall be returned to the office of credit unions immediately upon request.
AB1-ASA1-AA1, s. 346py 16Section 346py. 186.235 (16) (a) of the statutes is renumbered 186.235 (16).
AB1-ASA1-AA1, s. 346qd 17Section 346qd. 186.235 (16) (b) of the statutes is repealed.
AB1-ASA1-AA1, s. 346qe 18Section 346qe. 186.235 (16m) of the statutes is created to read:
AB1-ASA1-AA1,181,2019 186.235 (16m) Financial privacy examination. The office of credit unions shall
20examine a credit union to determine the credit union's compliance with s. 186.20.
AB1-ASA1-AA1, s. 346qf 21Section 346qf. 186.36 of the statutes is amended to read:
AB1-ASA1-AA1,181,25 22186.36 Sale of insurance in credit unions. Any officer or employee of a
23credit union, when acting as an agent for the sale of insurance on behalf of the credit
24union, shall pay all commissions received from the sale of credit life insurance or
25credit accident and sickness
insurance to the credit union.
AB1-ASA1-AA1, s. 346qg
1Section 346qg. 186.41 (title) of the statutes is amended to read:
AB1-ASA1-AA1,182,3 2186.41 (title) Interstate acquisition acquisitions and merger mergers
3of credit unions.
AB1-ASA1-AA1, s. 346qh 4Section 346qh. 186.41 (1) (a) of the statutes is renumbered 186.41 (1) (bm) and
5amended to read:
AB1-ASA1-AA1,182,76 186.41 (1) (bm) "In-state Wisconsin credit union" means a credit union having
7its principal office located in this state.
AB1-ASA1-AA1, s. 346qj 8Section 346qj. 186.41 (1) (c) of the statutes is renumbered 186.41 (1) (am) and
9amended to read:
AB1-ASA1-AA1,182,1210 186.41 (1) (am) "Regional Out-of-state credit union" means a state or federal
11credit union that has its, the principal office of which is located in one of the regional
12states
a state other than this state.
AB1-ASA1-AA1, s. 346qk 13Section 346qk. 186.41 (1) (d) of the statutes is repealed.
AB1-ASA1-AA1, s. 346qL 14Section 346qL. 186.41 (2) and (3) of the statutes are amended to read:
AB1-ASA1-AA1,182,1615 186.41 (2) In-state Wisconsin credit union. (a) An in-state A Wisconsin credit
16union may do any of the following:
AB1-ASA1-AA1,182,1817 1. Acquire an interest in, or some or all of the assets and liabilities of, one or
18more regional out-of-state credit unions.
AB1-ASA1-AA1,182,1919 2. Merge with one or more regional out-of-state credit unions.
AB1-ASA1-AA1,182,2320 (b) An in-state A Wisconsin credit union proposing any action under par. (a)
21shall provide the office of credit unions a copy of any original application seeking
22approval by a federal agency or by an agency of the regional another state and of any
23supplemental material or amendments filed in connection with any application.
AB1-ASA1-AA1,182,25 24(3) Regional Out-of-state credit unions. Except as provided in sub. (4), a
25regional
an out-of-state credit union may do any of the following:
AB1-ASA1-AA1,183,2
1(a) Acquire an interest in, or some or all of the assets of, one or more in-state
2Wisconsin credit unions.
AB1-ASA1-AA1,183,33 (b) Merge with one or more in-state Wisconsin credit unions.
AB1-ASA1-AA1, s. 346qm 4Section 346qm. 186.41 (4) (intro.), (a) to (d) and (f) of the statutes are amended
5to read:
AB1-ASA1-AA1,183,76 186.41 (4) Limitations. (intro.) A regional An out-of-state credit union may
7not take any action under sub. (3) until all of the following conditions have been met:
AB1-ASA1-AA1,183,118 (a) The office of credit unions finds that the statutes of the regional state in
9which the regional out-of-state credit union has its principal office permit in-state
10Wisconsin credit unions to both acquire regional out-of-state credit union assets and
11merge with one or more regional out-of-state credit unions in the regional that state.
AB1-ASA1-AA1,183,1412 (b) The office of credit unions has not disapproved the acquisition of in-state
13Wisconsin credit union assets or the merger with the in-state Wisconsin credit union
14under sub. (5).
AB1-ASA1-AA1,183,2315 (c) The office of credit unions gives a class 3 notice, under ch. 985, in the official
16state newspaper, of the application to take an action under sub. (3) and of the
17opportunity for a hearing and, if at least 25 residents of this state petition for a
18hearing within 30 days of the final notice or if the office of credit unions on its own
19motion calls for a hearing within 30 days of the final notice, the office of credit unions
20holds a public hearing on the application, except that a hearing is not required if the
21office of credit unions finds that an emergency exists and that the proposed action
22under sub. (3) is necessary and appropriate to prevent the probable failure of an
23in-state
a Wisconsin credit union that is closed or in danger of closing.
AB1-ASA1-AA1,184,224 (d) The office of credit unions is provided a copy of any original application
25seeking approval by a federal agency of the acquisition of in-state Wisconsin credit

1union assets or of the merger with an in-state a Wisconsin credit union and of any
2supplemental material or amendments filed with the application.
AB1-ASA1-AA1,184,53 (f) With regard to an acquisition of assets of an in-state a Wisconsin credit
4union that is chartered on or after May 9, 1986, the in-state Wisconsin credit union
5has been in existence for at least 5 years before the date of acquisition.
AB1-ASA1-AA1, s. 346qn 6Section 346qn. 186.41 (5) (a), (b), (c) and (cr) of the statutes are amended to
7read:
AB1-ASA1-AA1,184,118 186.41 (5) (a) Considering the financial and managerial resources and future
9prospects of the applicant and of the in-state Wisconsin credit union concerned, the
10action would be contrary to the best interests of the members of the in-state
11Wisconsin credit union.
AB1-ASA1-AA1,184,1412 (b) The action would be detrimental to the safety and soundness of the
13applicant or of the in-state Wisconsin credit union concerned, or to a subsidiary or
14affiliate of the applicant or of the in-state Wisconsin credit union.
AB1-ASA1-AA1,184,1915 (c) Because the applicant, its executive officers, or directors have not
16established a record of sound performance, efficient management, financial
17responsibility, and integrity, the action would be contrary to the best interests of the
18creditors, the members or, the other customers of the applicant or of the in-state , the
19Wisconsin
credit union, or contrary to the best interests of the public.
AB1-ASA1-AA1,184,2320 (cr) The applicant has failed to propose to provide adequate and appropriate
21services of the type contemplated by the community reinvestment act of 1977 in the
22community in which the in-state Wisconsin credit union which the applicant
23proposes to acquire or merge with is located.
AB1-ASA1-AA1, s. 346qp 24Section 346qp. 186.41 (6) (a) of the statutes is renumbered 186.41 (6).
AB1-ASA1-AA1, s. 346qr 25Section 346qr. 186.41 (6) (b) of the statutes is repealed.
AB1-ASA1-AA1, s. 346qs
1Section 346qs. 186.41 (8) of the statutes is repealed.
AB1-ASA1-AA1, s. 346qt 2Section 346qt. 186.45 of the statutes is created to read:
AB1-ASA1-AA1,185,4 3186.45 Non-Wisconsin credit union, Wisconsin offices. (1) Definitions.
4In this section:
AB1-ASA1-AA1,185,65 (a) "Non-Wisconsin credit union" means a credit union organized under the
6laws of and with its principal office located in a state other than this state.
AB1-ASA1-AA1,185,77 (b) "Wisconsin credit union" has the meaning given in s. 186.41 (1) (bm).
AB1-ASA1-AA1,185,12 8(2) Approval. A non-Wisconsin credit union may open an office and conduct
9business as a credit union in this state if the office of credit unions finds that
10Wisconsin credit unions are allowed to do business in the other state under
11conditions similar to those contained in this section and that all of the following apply
12to the non-Wisconsin credit union:
AB1-ASA1-AA1,185,1413 (a) It is a credit union organized under laws similar to the credit union laws of
14this state.
AB1-ASA1-AA1,185,1515 (b) It is financially solvent based upon national board ratings.
AB1-ASA1-AA1,185,1616 (c) It has member savings insured with federal share insurance.
AB1-ASA1-AA1,185,1817 (d) It is effectively examined and supervised by the credit union authorities of
18the state in which it is organized.
AB1-ASA1-AA1,185,2019 (e) It has received approval from the credit union authorities of the state in
20which it is organized.
AB1-ASA1-AA1,185,2221 (f) It has a need to place an office in this state to adequately serve its members
22in this state.
AB1-ASA1-AA1,185,2423 (g) It meets all other relevant standards or qualifications established by the
24office of credit unions.
AB1-ASA1-AA1,186,2
1(3) Requirements. A non-Wisconsin credit union shall agree to do all of the
2following:
AB1-ASA1-AA1,186,43 (a) Grant loans at rates not in excess of the rates permitted for Wisconsin credit
4unions.
AB1-ASA1-AA1,186,55 (b) Comply with this state's laws.
AB1-ASA1-AA1,186,66 (c) Designate and maintain an agent for the service of process in this state.
AB1-ASA1-AA1,186,10 7(4) Records. As a condition of a non-Wisconsin credit union doing business in
8this state under this section, the office of credit unions may require copies of
9examination reports and related correspondence regarding the non-Wisconsin
10credit union.
AB1-ASA1-AA1, s. 346qu 11Section 346qu. 186.80 of the statutes is created to read:
AB1-ASA1-AA1,186,13 12186.80 False statements. (1) No officer, director, or employee of a credit
13union may do any of the following:
AB1-ASA1-AA1,186,1514 (a) Willfully and knowingly subscribe to or make, or cause to be made, a false
15statement or entry in the books of the credit union.
AB1-ASA1-AA1,186,1716 (b) Knowingly subscribe to or exhibit false information with the intent to
17deceive any person authorized to examine the affairs of the credit union.
AB1-ASA1-AA1,186,1918 (c) Knowingly make, state, or publish any false report or statement of the credit
19union.
AB1-ASA1-AA1,186,20 20(2) Any person who violates sub. (1) is guilty of a Class F felony.".
AB1-ASA1-AA1,186,21 21218. Page 177, line 14: after that line insert:
AB1-ASA1-AA1,186,22 22" Section 346c. 196.491 (1) (q) of the statutes is created to read:
AB1-ASA1-AA1,186,2423 196.491 (1) (q) "Ranney well" means a well in which the central shaft is fed by
24horizontal perforated pipes extending radially into an aquifer.
AB1-ASA1-AA1, s. 346g
1Section 346g. 196.491 (1) (s) of the statutes is created to read:
AB1-ASA1-AA1,187,42 196.491 (1) (s) "Residential well" means a residential well on which
3construction has commenced before the date that a person provides the department
4with an engineering plan under sub. (3) (a) 3. a.
AB1-ASA1-AA1, s. 346L 5Section 346L. 196.491 (1) (u) of the statutes is created to read:
AB1-ASA1-AA1,187,96 196.491 (1) (u) "Water withdrawing large electric generating facility" means
7a large electric generating facility that withdraws water from underground sources
8and for which the capacity and rate of withdrawal of all wells serving the facility,
9except for Ranney wells, exceeds 100,000 gallons per day.
AB1-ASA1-AA1, s. 346p 10Section 346p. 196.491 (3) (a) 3. a. of the statutes is amended to read:
AB1-ASA1-AA1,187,2111 196.491 (3) (a) 3. a. At least 60 days before a person files an application under
12subd. 1., the person shall provide the department with an engineering plan showing
13the location of the facility, a description of the facility, including the major
14components of the facility that have a significant air, water, or solid waste pollution
15potential, and a description of the anticipated effects of the facility on air and water
16quality, and, if the application is for a water withdrawing large electric generating
17facility, a description of the anticipated effects of the facility on residential wells
.
18Within 30 days after a person provides an engineering plan, the department shall
19provide the person with a listing of each department permit or approval which, on
20the basis of the information contained in the engineering plan, appears to be required
21for the construction or operation of the facility.
AB1-ASA1-AA1, s. 346t 22Section 346t. 196.491 (3) (a) 3. b. of the statutes is amended to read:
AB1-ASA1-AA1,188,1723 196.491 (3) (a) 3. b. Within 20 days after the department provides a listing
24specified in subd. 3. a. to a person, the person shall apply for the permits and
25approvals identified in the listing. The department shall determine whether an

1application under this subd. 3. b. is complete and, no later than 30 days after the
2application is filed, notify the applicant about the determination. If the department
3determines that the application is incomplete, the notice shall state the reason for
4the determination. An applicant may supplement and refile an application that the
5department has determined to be incomplete. There is no limit on the number of
6times that an applicant may refile an application under this subd. 3. b. If the
7department fails to determine whether an application is complete within 30 days
8after the application is filed, the application shall be considered to be complete. The
9department shall complete action on an application under this subd. 3. b. for any
10permit or approval that is required prior to construction of a facility within
Within
11120 days after the date on which the application is determined or considered to be
12complete, the department shall complete action on the application for any permit or
13approval that is required prior to construction of the facility and, if the application
14is for a water withdrawing large electric generating facility, shall determine whether
15the facility will substantially reduce the availability of water to a residential well or
16cause a preventive action limit established under s. 160.15 to be exceeded in water
17produced by a residential well
.
AB1-ASA1-AA1, s. 346v 18Section 346v. 196.491 (3) (e) of the statutes is renumbered 196.491 (3) (e)
19(intro.) and amended to read:
AB1-ASA1-AA1,188,2420 196.491 (3) (e) (intro.) If the application does not meet the criteria under par.
21(d), the commission shall reject the application or approve the application with such
22modifications as are necessary for an affirmative finding under par. (d). The
23commission may not issue a certificate of public convenience and necessity until the
24unless each of the following is satisfied:
AB1-ASA1-AA1,189,2
11. The department has issued all permits and approvals identified in the listing
2specified in par. (a) 3. a. that are required prior to construction.
AB1-ASA1-AA1, s. 346x 3Section 346x. 196.491 (3) (e) 2. of the statutes is created to read:
AB1-ASA1-AA1,189,84 196.491 (3) (e) 2. If the application is for a water withdrawing large electric
5generating facility, the department has determined under par. (a) 3. b. that the
6facility will not substantially reduce the availability of water to a residential well and
7will not cause a preventive action limit established under s. 160.15 to be exceeded
8in water produced by a residential well.".
AB1-ASA1-AA1,189,9 9219. Page 177, line 14: after that line insert:
AB1-ASA1-AA1,189,10 10" Section 346d. 196.374 (title) of the statutes is amended to read:
AB1-ASA1-AA1,189,12 11196.374 (title) Low-income assistance, energy efficiency and other
12programs
.
AB1-ASA1-AA1, s. 346h 13Section 346h. 196.374 (2) (intro.) and (a) of the statutes are consolidated,
14renumbered 196.374 (2) and amended to read:
Loading...
Loading...