SB55-ASA1-AA1,1019,108
186.235
(7m) Return of examination reports. Examination reports possessed
9by a credit union are confidential, remain the property of the office of credit unions,
10and shall be returned to the office of credit unions immediately upon request.
SB55-ASA1-AA1,1019,1514
186.235
(16m) Financial privacy examination. The office of credit unions shall
15examine a credit union to determine the credit union's compliance with s. 186.20.
SB55-ASA1-AA1,1019,20
17186.36 Sale of insurance in credit unions. Any officer or employee of a
18credit union, when acting as an agent for the sale of insurance on behalf of the credit
19union, shall pay all commissions received from the sale of
credit life insurance or
20credit accident and sickness insurance to the credit union.
SB55-ASA1-AA1,1019,23
22186.41 (title)
Interstate acquisition acquisitions and merger mergers
23of credit unions.
SB55-ASA1-AA1, s. 2962
24Section 2962. 186.41 (1) (a) of the statutes is renumbered 186.41 (1) (bm) and
25amended to read:
SB55-ASA1-AA1,1020,2
1186.41
(1) (bm) "
In-state Wisconsin credit union" means a credit union having
2its principal office located in this state.
SB55-ASA1-AA1, s. 2963
3Section 2963. 186.41 (1) (c) of the statutes is renumbered 186.41 (1) (am) and
4amended to read:
SB55-ASA1-AA1,1020,75
186.41
(1) (am) "
Regional Out-of-state credit union" means a state or federal
6credit union
that has its, the principal office
of which is located in
one of the regional
7states a state other than this state.
SB55-ASA1-AA1,1020,1110
186.41
(2) In-state
Wisconsin credit union. (a)
An in-state A Wisconsin credit
11union may do any of the following:
SB55-ASA1-AA1,1020,1312
1. Acquire an interest in, or some or all of the assets and liabilities of, one or
13more
regional out-of-state credit unions.
SB55-ASA1-AA1,1020,1414
2. Merge with one or more
regional out-of-state credit unions.
SB55-ASA1-AA1,1020,1815
(b)
An in-state A Wisconsin credit union proposing any action under par. (a)
16shall provide the office of credit unions a copy of any original application seeking
17approval by a federal agency or by an agency of
the regional another state and of any
18supplemental material or amendments filed in connection with any application.
SB55-ASA1-AA1,1020,20
19(3) Regional Out-of-state credit unions. Except as provided in sub. (4),
a
20regional an out-of-state credit union may do any of the following:
SB55-ASA1-AA1,1020,2221
(a) Acquire an interest in, or some or all of the assets of, one or more
in-state 22Wisconsin credit unions.
SB55-ASA1-AA1,1020,2323
(b) Merge with one or more
in-state Wisconsin credit unions.
SB55-ASA1-AA1, s. 2966
24Section 2966. 186.41 (4) (intro.), (a) to (d) and (f) of the statutes are amended
25to read:
SB55-ASA1-AA1,1021,2
1186.41
(4) Limitations. (intro.)
A regional An out-of-state credit union may
2not take any action under sub. (3) until all of the following conditions have been met:
SB55-ASA1-AA1,1021,63
(a) The office of credit unions finds that the statutes of the
regional state in
4which the
regional out-of-state credit union has its principal office permit
in-state 5Wisconsin credit unions to both acquire
regional out-of-state credit union assets and
6merge with one or more
regional out-of-state credit unions in
the regional that state.
SB55-ASA1-AA1,1021,97
(b) The office of credit unions has not disapproved the acquisition of
in-state 8Wisconsin credit union assets or the merger with the
in-state Wisconsin credit union
9under sub. (5).
SB55-ASA1-AA1,1021,1810
(c) The office of credit unions gives a class 3 notice, under ch. 985, in the official
11state newspaper, of the application to take an action under sub. (3) and of the
12opportunity for a hearing and, if at least 25 residents of this state petition for a
13hearing within 30 days of the final notice or if the office of credit unions on its own
14motion calls for a hearing within 30 days of the final notice, the office of credit unions
15holds a public hearing on the application, except that a hearing is not required if the
16office of credit unions finds that an emergency exists and that the proposed action
17under sub. (3) is necessary and appropriate to prevent the probable failure of
an
18in-state a Wisconsin credit union that is closed or in danger of closing.
SB55-ASA1-AA1,1021,2219
(d) The office of credit unions is provided a copy of any original application
20seeking approval by a federal agency of the acquisition of
in-state Wisconsin credit
21union assets or of the merger with
an in-state a Wisconsin credit union and of any
22supplemental material or amendments filed with the application.
SB55-ASA1-AA1,1021,2523
(f) With regard to an acquisition of assets of
an in-state a Wisconsin credit
24union that is chartered on or after May 9, 1986, the
in-state Wisconsin credit union
25has been in existence for at least 5 years before the date of acquisition.
SB55-ASA1-AA1,1022,63
186.41
(5) (a) Considering the financial and managerial resources and future
4prospects of the applicant and of the
in-state Wisconsin credit union concerned, the
5action would be contrary to the best interests of the members of the
in-state 6Wisconsin credit union.
SB55-ASA1-AA1,1022,97
(b) The action would be detrimental to the safety and soundness of the
8applicant or of the
in-state Wisconsin credit union concerned, or to a subsidiary or
9affiliate of the applicant or of the
in-state Wisconsin credit union.
SB55-ASA1-AA1,1022,1410
(c) Because the applicant, its executive officers
, or directors have not
11established a record of sound performance, efficient management, financial
12responsibility
, and integrity, the action would be contrary to the best interests of the
13creditors,
the members
or, the other customers of the applicant
or of the in-state
, the
14Wisconsin credit union
, or
contrary to the best interests of the public.
SB55-ASA1-AA1,1022,1815
(cr) The applicant has failed to propose to provide adequate and appropriate
16services of the type contemplated by the community reinvestment act of 1977 in the
17community in which the
in-state Wisconsin credit union which the applicant
18proposes to acquire or merge with is located.
SB55-ASA1-AA1,1022,24
23186.45 Non-Wisconsin credit union, Wisconsin offices. (1) Definitions. 24In this section:
SB55-ASA1-AA1,1023,2
1(a) "Non-Wisconsin credit union" means a credit union organized under the
2laws of and with its principal office located in a state other than this state.
SB55-ASA1-AA1,1023,33
(b) "Wisconsin credit union" has the meaning given in s. 186.41 (1) (bm).
SB55-ASA1-AA1,1023,8
4(2) Approval. A non-Wisconsin credit union may open an office and conduct
5business as a credit union in this state if the office of credit unions finds that
6Wisconsin credit unions are allowed to do business in the other state under
7conditions similar to those contained in this section and that all of the following apply
8to the non-Wisconsin credit union:
SB55-ASA1-AA1,1023,109
(a) It is a credit union organized under laws similar to the credit union laws of
10this state.
SB55-ASA1-AA1,1023,1111
(b) It is financially solvent based upon national board ratings.
SB55-ASA1-AA1,1023,1212
(c) It has member savings insured with federal share insurance.
SB55-ASA1-AA1,1023,1413
(d) It is effectively examined and supervised by the credit union authorities of
14the state in which it is organized.
SB55-ASA1-AA1,1023,1615
(e) It has received approval from the credit union authorities of the state in
16which it is organized.
SB55-ASA1-AA1,1023,1817
(f) It has a need to place an office in this state to adequately serve its members
18in this state.
SB55-ASA1-AA1,1023,2019
(g) It meets all other relevant standards or qualifications established by the
20office of credit unions.
SB55-ASA1-AA1,1023,22
21(3) Requirements. A non-Wisconsin credit union shall agree to do all of the
22following:
SB55-ASA1-AA1,1023,2423
(a) Grant loans at rates not in excess of the rates permitted for Wisconsin credit
24unions.
SB55-ASA1-AA1,1023,2525
(b) Comply with this state's laws.
SB55-ASA1-AA1,1024,1
1(c) Designate and maintain an agent for the service of process in this state.
SB55-ASA1-AA1,1024,5
2(4) Records. As a condition of a non-Wisconsin credit union doing business in
3this state under this section, the office of credit unions may require copies of
4examination reports and related correspondence regarding the non-Wisconsin
5credit union.
SB55-ASA1-AA1,1024,8
7186.80 False statements. (a) No officer, director, or employee of a credit
8union may do any of the following:
SB55-ASA1-AA1,1024,109
1. Willfully and knowingly subscribe to or make, or cause to be made, a false
10statement or entry in the books of the credit union.
SB55-ASA1-AA1,1024,1211
2. Knowingly subscribe to or exhibit false information with the intent to deceive
12any person authorized to examine the affairs of the credit union.
SB55-ASA1-AA1,1024,1413
3. Knowingly make, state, or publish any false report or statement of the credit
14union.
SB55-ASA1-AA1,1024,1715
(b) Any person who violates par. (a) may be fined not less than $1,000 nor more
16than $5,000, or imprisoned for not less than one year nor more than 15 years, or
17both.".
SB55-ASA1-AA1,1024,21
19"(bm) "Public utility" means a public utility that in 2000, based on data
20provided by the public utility to the commission, provided retail electric service to
21customers that had an aggregate load of 1,200 megawatts or more.".
SB55-ASA1-AA1,1025,3
1196.218
(3) (e)
Except as provided in s. 196.196 (2) (d), a A telecommunications
2provider or other person may not establish a surcharge on customers' bills to collect
3from customers contributions required under this subsection.".
SB55-ASA1-AA1,1025,176
196.202
(2) Scope of regulation. A commercial mobile radio service provider
7is not subject to ch. 201 or this chapter,
except as provided in sub. (5), and except
that 8a commercial mobile radio service provider is subject to s. 196.218 (3)
to the extent
9not preempted by federal law. If the application of s. 196.218 (3) to a commercial
10mobile radio service provider is not preempted if the commission promulgates rules
11that designate commercial mobile radio service providers as eligible to receive
12universal service funding under both the federal and state universal service fund
13programs. If the commission promulgates such rules, a commercial mobile radio
14service provider shall respond, subject to the protection of the commercial mobile
15radio service provider's competitive information, to all reasonable requests for
16information about its operations in this state from the commission necessary to
17administer the universal service fund.".
SB55-ASA1-AA1,1025,20
19"
Section 2981r. 196.218 (3) (a) 3. of the statutes is renumbered 196.218 (3) (a)
203. (intro.) and amended to read:
SB55-ASA1-AA1,1025,2421
196.218
(3) (a) 3. (intro.) The commission shall designate the method by which
22the contributions under this paragraph shall be calculated and collected. The
23method shall ensure that the contributions are sufficient to generate the
following 24amounts
:
SB55-ASA1-AA1,1026,3
1a. The amount appropriated under
ss. s. 20.155 (1) (q),
except that beginning
2in fiscal year 2003-04 the total amount of contributions in a fiscal year under this
3subd. 3. a. may not exceed $4,000,000.
SB55-ASA1-AA1,1026,5
4b. The amounts appropriated under ss. 20.255 (3) (q), 20.275 (1) (s), (t) and (tm)
5and 20.285 (1) (q).
SB55-ASA1-AA1,1026,9
63m. Contributions
under this paragraph may be based only on the gross
7operating revenues from the provision of broadcast services identified by the
8commission under subd. 2. and on intrastate telecommunications services in this
9state of the telecommunications providers subject to the contribution.".
SB55-ASA1-AA1,1026,1412
196.219
(3m) Real estate development. (a) In this subsection, "real estate
13development" means the act of dividing or subdividing any parcel of land for
14construction or making improvements to facilitate or allow construction.
SB55-ASA1-AA1,1026,2015
(b) Except for compensation included in rates for basic local exchange service
16and business access line and usage service, a telecommunications utility may not
17require any person to compensate the telecommunications utility for the
18construction of any facility for the distribution of telecommunications services that
19is related to any real estate development in the telecommunications utility's service
20territory.".
SB55-ASA1-AA1,1027,15
1196.374
(3) In Except as provided in sub. (3m), in 2000, 2001 and 2002, the
2commission shall require each utility to spend a decreasing portion of the amount
3determined under sub. (2) on programs specified in sub. (2) and contribute the
4remaining portion of the amount to the commission for deposit in the
utility public
5benefits fund.
In Except as provided in sub. (3m), in each year after 2002, each utility
6shall contribute the entire amount determined under sub. (2) to the commission for
7deposit in the
utility public benefits fund. The commission shall ensure in
8rate-making orders that a utility recovers from its ratepayers the amounts spent on
9programs or contributed to the
utility public benefits fund under this subsection
or
10deposited into the farm rewiring fund under sub. (3m). The commission shall allow
11each utility the option of continuing to use, until January 1, 2002, the moneys that
12it has recovered under s. 196.374 (3), 1997 stats., to administer the programs that
13it has funded under s. 196.374 (1), 1997 stats. The commission may allow each utility
14to spend additional moneys on the programs specified in sub. (2) if the utility
15otherwise complies with the requirements of this section and s. 16.957 (4).
SB55-ASA1-AA1,1027,2017
196.374
(3m) In fiscal year 2001-02, the first $1,500,000 that is contributed
18under sub. (3) in that fiscal year shall be deposited in the farm rewiring fund. In
19fiscal year 2002-03, the first $2,500,000 that is contributed under sub. (3) in that
20fiscal year shall be deposited in the farm rewiring fund.
SB55-ASA1-AA1,1028,322
196.374
(4) If the department notifies the commission under s. 16.957 (2) (b)
232. that the department has reduced funding for energy conservation and efficiency
24and renewable resource programs by an amount that is greater than the portion of
25the public benefits fee specified in s. 16.957 (4) (c) 2., the commission shall reduce the
1amount that utilities are required to spend on programs or contribute to the
utility
2public benefits fund under sub. (3) by the portion of the reduction that exceeds the
3amount of public benefits fees specified in s. 16.957 (4) (c) 2.".