SB44, s. 2329 18Section 2329. 201.13 of the statutes is amended to read:
SB44,916,22 19201.13 Stock. Subject to the regulatory jurisdiction of the commission under
20this chapter and to all other applicable provisions of law relating to railroad or other
21special types of corporations, all classes and series of stock of a public service
22corporation shall be governed by the provisions of ch. 180.
SB44, s. 2330 23Section 2330. 214.01 (1) (im) of the statutes is amended to read:
SB44,916,2424 214.01 (1) (im) "Division" means the division of savings institutions banking.
SB44, s. 2331 25Section 2331. 214.01 (1) (sr) of the statutes is amended to read:
SB44,917,2
1214.01 (1) (sr) "Review board" means the savings bank institutions review
2board.
SB44, s. 2332 3Section 2332. 214.592 of the statutes is amended to read:
SB44,917,8 4214.592 Financially related services tie-ins. In any transaction conducted
5by a savings bank, a savings bank holding company, or a subsidiary of either with
6a customer who is also a customer of any other subsidiary of any of them, the
7customer shall be given a notice in 12-point boldface type in substantially the
8following form:
SB44,917,99 NOTICE OF RELATIONSHIP
SB44,917,1410 This company, .... (insert name and address of savings bank, savings bank
11holding company, or subsidiary), is related to .... (insert name and address of savings
12bank, savings bank holding company, or subsidiary) of which you are also a customer.
13You may not be compelled to buy any product or service from either of the above
14companies or any other related company in order to participate in this transaction.
SB44,917,1915 If you feel that you have been compelled to buy any product or service from
16either of the above companies or any other related company in order to participate
17in this transaction, you should contact the management of either of the above
18companies at either of the above addresses or the division of savings institutions
19banking at .... (insert address).
SB44, s. 2333 20Section 2333. 214.72 (1) (b) of the statutes is amended to read:
SB44,917,2521 214.72 (1) (b) "Financial regulator" means the department secretary and
22deputy secretary, and an administrator, a supervisor of data processing, legal counsel
23and a financial institution examiner employed by the department and the
24department's legal counsel
and includes any member of a financial regulator's
25immediate family, as defined in s. 19.42 (7).
SB44, s. 2334
1Section 2334. 215.01 (6) of the statutes is amended to read:
SB44,918,22 215.01 (6) "Division" means the division of savings institutions banking.
SB44, s. 2335 3Section 2335. 215.01 (22) of the statutes is amended to read:
SB44,918,54 215.01 (22) "Review board" means the savings and loan institutions review
5board.
SB44, s. 2336 6Section 2336. 215.02 (title) of the statutes is repealed and recreated to read:
SB44,918,7 7215.02 (title) Powers of the division.
SB44, s. 2337 8Section 2337. 215.02 (10) (a) 3. of the statutes is amended to read:
SB44,918,199 215.02 (10) (a) 3. An order of removal takes effect on the date issued. A copy
10of the order shall be served upon the association and upon the officer, director, or
11employee in the manner provided by law for service of a summons in a court of record
12or by mailing a copy to the association and officer, director, or employee at their
13last-known, post-office addresses. Any removal under this subsection has the same
14effect as if made by the board of directors or the members or stockholders of the
15association. An officer, director, or employee removed from office or employment
16under this subsection may not be elected as an officer or director of, or be employed
17by, an association without the approval of the division and the review board. An
18order of removal under this subsection is a final order or determination of the review
19board under s. 215.04 (6) (5).
SB44, s. 2338 20Section 2338. 215.04 of the statutes is repealed and recreated to read:
SB44,918,22 21215.04 Review board. (1) Duties. The review board shall do all of the
22following:
SB44,918,2323 (a) Advise the division on matters related to this chapter.
SB44,918,2424 (b) Review the acts, orders, and determinations of the division.
SB44,919,2
1(c) Act on any matters pertaining to this chapter that are submitted to it by the
2division.
SB44,919,33 (d) Perform other review functions relating to this chapter.
SB44,919,64 (e) Conduct hearings and take testimony, and subpoena and swear witnesses
5at such hearings. The review board shall have the subpoena powers under s. 885.01
6(4).
SB44,919,8 7(2) Appearances. An interested party may appear at a proceeding of the review
8board and may participate in the examination of witnesses and present evidence.
SB44,919,14 9(3) Witness fees. A person who causes a witness to be subpoenaed shall
10advance the fees and mileage expense of the witness. Witness fees shall be the same
11as fees under s. 814.67 (1) (b) and (c). The fees of witnesses who are called by the
12review board in the interests of the state shall be paid by the state upon presentation
13of proper vouchers approved by the chairperson of the review board and charged to
14the appropriation under s. 20.144 (1) (g).
SB44,920,2 15(4) Review of acts, orders, or determinations. Any interested person or a
16savings association aggrieved by any act, order, or determination of the division,
17which relates to savings and loan associations, may, within 20 days after receipt or
18service of a copy of the act, order, or determination, file a written notice requesting
19the review board's review of the division's act, order, or determination. The review
20of the division's decision shall be solely to determine if the division acted within the
21scope of the division's authority and did not act in an arbitrary or capricious manner
22and to determine if the act, order, or determination of the division is supported by
23substantial evidence in view of the entire record as submitted. The review of
24applications for new charters, branch offices, or relocation of offices shall be based
25exclusively on the record and new evidence may not be taken by the review board.

1Requests for review under this subsection shall be considered and disposed of as
2speedily as possible.
SB44,920,6 3(5) Review. A determination of the review board is subject to review under ch.
4227. If an act, order, or determination of the division is reversed or modified by the
5review board, the division shall be considered to be a person aggrieved and directly
6affected by the decision under s. 227.53 (1).
SB44,920,9 7(6) Board member not to act. A member of the review board may not act on
8any matter involving a savings and loan association or savings and loan holding
9company of which the member is an officer, director, employee, or agent.
SB44, s. 2339 10Section 2339. 215.141 of the statutes is amended to read:
SB44,920,15 11215.141 Financially related services tie-ins. In any transaction conducted
12by an association, a savings and loan holding company, or a subsidiary of either with
13a customer who is also a customer of any other subsidiary of any of them, the
14customer shall be given a notice in 12-point boldface type in substantially the
15following form:
SB44,920,1616 NOTICE OF RELATIONSHIP
SB44,920,2217 This company, ..... (insert name and address of association, savings and loan
18holding company, or subsidiary), is related to ..... (insert name and address of
19association, savings and loan holding company, or subsidiary) of which you are also
20a customer. You may not be compelled to buy any product or service from either of
21the above companies or any other related company in order to participate in this
22transaction.
SB44,921,223 If you feel that you have been compelled to buy any product or service from
24either of the above companies or any other related company in order to participate
25in this transaction, you should contact the management of either of the above

1companies at either of the above addresses or the division of savings institutions
2banking at .... (insert address).
SB44, s. 2340 3Section 2340. 215.32 (3) of the statutes is amended to read:
SB44,921,84 215.32 (3) Employment of counsel; retention of officers and employees of
5association.
The division On behalf of the division, the department of
6administration
may employ necessary counsel and the division may employ experts
7in a liquidation under this section and may retain any officer or employee of the
8association.
SB44, s. 2341 9Section 2341. 215.33 (3) (b) 2. of the statutes is amended to read:
SB44,921,1410 215.33 (3) (b) 2. The accounts of the association are insured by the deposit
11insurance corporation or any other insurer acceptable to the division, or that
12adequate and sufficient securities have been deposited with the state treasurer
13secretary of administration to assure that the association will meet its obligations
14to the residents of this state.
SB44, s. 2342 15Section 2342. 215.40 (18) of the statutes is amended to read:
SB44,921,1916 215.40 (18) Appeal by applicants after being denied certificate of authority.
17If the division refuses to grant a certificate of authority to organize an association,
18and the applicants feel aggrieved thereby, they may appeal to the review board to
19review the division's determination under s. 215.04 (1) (d) (b) and (4).
SB44, s. 2343 20Section 2343. 220.02 (2) (e) and (f) of the statutes are created to read:
SB44,921,2121 220.02 (2) (e) Savings banks under ch. 214.
SB44,921,2222 (f) Savings and loan associations under ch. 215.
SB44, s. 2344 23Section 2344. 220.02 (3) of the statutes is amended to read:
SB44,922,624 220.02 (3) It is the intent of sub. (2) to give the division jurisdiction to enforce
25and carry out all laws relating to banks or banking in this state, including those

1relating to state banks, savings banks, savings and loan associations, and trust
2company banks, and also all laws relating to small loan companies or other loan
3companies or agencies, finance companies, motor vehicle dealers, adjustment service
4companies, community currency exchanges, and collection agencies and those
5relating to sellers of checks under ch. 217, whether doing business as corporations,
6individuals, or otherwise, but to exclude laws relating to credit unions.
SB44, s. 2345 7Section 2345. 220.08 (4) of the statutes is amended to read:
SB44,922,248 220.08 (4) The division may appoint one or more special deputies, as agent or
9agents, to assist the division in the duty of reorganization, consolidation, liquidation
10and distribution, the certificate of appointment to be filed with the division and a
11certified copy in the office of the clerk of the circuit court for the county in which such
12bank or banking corporation is located. Such special deputies may execute,
13acknowledge and deliver any and all deeds, assignments, releases or other
14instruments necessary and proper to effect any sale and transfer or encumbrance of
15real estate or personal property after the same has been approved by the division,
16and an order obtained from the circuit court of the county in which the bank
17concerned is located. The division may from time to time authorize a special deputy
18to perform such duties connected with such reorganization, consolidation,
19liquidation and distribution as the division deems proper. The division On behalf of
20the division, the department of administration
may employ such counsel and the
21division may
procure such expert assistance and advice as may be necessary in the
22reorganization, consolidation, liquidation and distribution of the assets of such
23banks or banking corporations. The division may retain such of the officers or
24employees of such banks or banking corporations as necessary.
SB44, s. 2346 25Section 2346. 221.0303 (2) of the statutes is amended to read:
SB44,923,17
1221.0303 (2) Operation and acquisition of customer bank communications
2terminals.
A bank may, directly or indirectly, acquire, place , and operate, or
3participate in the acquisition, placement, and operation of, at locations other than
4its main or branch offices, customer bank communications terminals, in accordance
5with rules established by the division. The rules of the division shall provide that
6any such customer bank communications terminal shall be available for use, on a
7nondiscriminatory basis, by any state or national bank and by all customers
8designated by a bank using the terminal. This subsection does not authorize a bank
9which has its principal place of business outside this state to conduct banking
10business in this state. The customer bank communications terminals also shall be
11available for use, on a nondiscriminatory basis, by any credit union, savings and loan
12association, or savings bank, if the credit union, savings and loan association, or
13savings bank requests to share its use, subject to rules jointly established by the
14division of banking, and the office of credit unions and the division of savings
15institutions
. The division by order may authorize the installation and operation of
16a customer bank communications terminal in a mobile facility, after notice and
17hearing upon the proposed service stops of the mobile facility.
SB44, s. 2347 18Section 2347. 221.0320 (3) (a) of the statutes is amended to read:
SB44,923,2019 221.0320 (3) (a) In this subsection, "local governmental unit" has the meaning
20given in s. 22.01 16.97 (7).
SB44, s. 2348 21Section 2348. 221.0321 (5) of the statutes is amended to read:
SB44,924,522 221.0321 (5) Certain secured loans. A bank may make loans secured by
23assignment or transfer of stock certificates or other evidence of the borrower's
24ownership interest in a corporation formed for the cooperative ownership of real
25estate. Sections 846.10 and 846.101, as they apply to a foreclosure of a mortgage

1involving a one-family residence, apply to a proceeding to enforce the lender's rights
2in security given for a loan under this subsection. The division shall promulgate joint
3rules with the office of credit unions and the division of savings institutions that
4establish procedures for enforcing a lender's rights in security given for a loan under
5this subsection.
SB44, s. 2349 6Section 2349. 223.02 (1) (intro.) of the statutes is amended to read:
SB44,924,97 223.02 (1) Indemnity fund deposit. (intro.) Deposit at least $100,000 with the
8state treasurer secretary of administration or the state treasurer's secretary's agent
9in accordance with the following provisions:
SB44, s. 2350 10Section 2350. 223.02 (1) (b) of the statutes is amended to read:
SB44,924,1711 223.02 (1) (b) The state treasurer secretary of administration or the state
12treasurer's
secretary's agent shall pay over to the bank trust company the interest,
13dividends, or other income on deposit or may authorize the bank trust company to
14collect the interest, dividends, or other income. The state treasurer secretary of
15administration
shall issue a certificate stating that a deposit has been made with the
16state treasurer secretary of administration or the state treasurer's secretary's agent
17in the manner provided in this section.
SB44, s. 2351 18Section 2351. 223.02 (1) (c) of the statutes is amended to read:
SB44,924,2519 223.02 (1) (c) The state treasurer secretary of administration or the state
20treasurer's
secretary's agent shall hold the deposit as security for the faithful
21execution of any trust which may be lawfully imposed upon and accepted by the trust
22company bank. The cash or securities shall remain in the possession of the state
23treasurer
secretary of administration or the state treasurer's secretary's agent until
24otherwise ordered by a court of competent jurisdiction, unless released pursuant to
25par. (d).
SB44, s. 2352
1Section 2352. 223.02 (1) (d) of the statutes is amended to read:
SB44,925,62 223.02 (1) (d) The securities and cash deposited by a trust company bank may
3be released by the state treasurer secretary of administration or the state treasurer's
4secretary's agent and returned to the bank, if the division certifies to the state
5treasurer
secretary of administration that the bank no longer exercises trust powers
6and that the division is satisfied that there are no outstanding trust liabilities.
SB44, s. 2353 7Section 2353. 223.02 (1) (e) of the statutes is amended to read:
SB44,925,138 223.02 (1) (e) The state treasurer secretary of administration may designate
9a banking corporation, having an authorized capital of $1,000,000 or more, to act as
10an agent to hold the cash or securities in safekeeping. The agent shall furnish to the
11state treasurer secretary of administration a safekeeping receipt for all cash and
12securities received by it. The agent shall pay the cash and securities to the state
13treasurer
secretary of administration on demand without conditions.
SB44, s. 2354 14Section 2354. 223.105 (3) (a) of the statutes is amended to read:
SB44,925,2115 223.105 (3) (a) To assure compliance with such rules as may be established
16under s. 220.04 (7), the division of banking, and the office of credit unions and the
17division of savings institutions
shall, at least once every 18 months, examine the
18fiduciary operations of each organization which is under its respective jurisdiction
19and is subject to examination under sub. (2). If a particular organization subject to
20examination under sub. (2) is not otherwise under the jurisdiction of one of the
21foregoing agencies, such examination shall be conducted by the division of banking.
SB44, s. 2355 22Section 2355. 223.105 (4) of the statutes is amended to read:
SB44,926,723 223.105 (4) Notice of fiduciary operation. Except for those organizations
24licensed under ch. 221 or this chapter, any organization engaged in fiduciary
25operations as defined in this section shall, as required by rule, notify the division of

1banking, or the office of credit unions or the division of savings institutions of that
2fact, directing the notice to the agency then exercising regulatory authority over the
3organization or, if there is none, to the division of banking. Any organization which
4intends to engage in fiduciary operations shall, prior to engaging in such operations,
5notify the appropriate agency of this intention. The notifications required under this
6subsection shall be on forms and contain information required by the rules
7promulgated by the division of banking.
SB44, s. 2356 8Section 2356. 223.105 (5) of the statutes is amended to read:
SB44,926,159 223.105 (5) Enforcement remedy. The division of banking or the division of
10savings institutions
or office of credit unions shall, upon the failure of such
11organization to submit notifications or reports required under this section or
12otherwise to comply with the provisions of this section, or rules established by the
13division of banking under s. 220.04 (7), upon due notice, order such defaulting
14organization to cease and desist from engaging in fiduciary activities and may apply
15to the appropriate court for enforcement of such order.
SB44, s. 2357 16Section 2357. 223.105 (6) of the statutes is amended to read:
SB44,926,2417 223.105 (6) Sunset. Except for an organization regulated by the office of credit
18unions or the division of savings institutions, a savings bank or savings and loan
19association regulated by the division of banking,
or an organization authorized by
20the division of banking to operate as a bank or trust company under ch. 221 or this
21chapter, an organization may not begin activity as a fiduciary operation under this
22section after May 12, 1992. An organization engaged in fiduciary operations under
23this section on May 12, 1992, may continue to engage in fiduciary operations after
24that date.
SB44, s. 2358 25Section 2358. 223.20 (3) of the statutes is amended to read:
SB44,927,8
1223.20 (3) Surrender of trust powers. If a converted trust company bank has
2been fully discharged of all trusts committed to it, it may, by amendment to its
3articles of incorporation, duly adopted by its stockholders and approved by the
4division, surrender its powers to act in a fiduciary capacity. A trust company bank
5that surrenders its trust powers under this subsection shall eliminate from its
6corporate name the word "trust;" "trust" and may thereupon withdraw from the state
7treasurer
secretary of administration all securities and cash that it has deposited
8with the state treasurer secretary of administration pursuant to s. 223.02.
SB44, s. 2359 9Section 2359. 224.71 (3) (b) 1m. of the statutes is amended to read:
SB44,927,1110 224.71 (3) (b) 1m. A community-based organization, as defined in s. 16.30
11560.9801 (1), or a housing authority, as defined in s. 16.30 560.9801 (2).
SB44, s. 2360 12Section 2360. 224.71 (4) (b) 1m. of the statutes is amended to read:
SB44,927,1413 224.71 (4) (b) 1m. A community-based organization, as defined in s. 16.30
14560.9801 (1), or a housing authority, as defined in s. 16.30 560.9801 (2).
SB44, s. 2361 15Section 2361. 224.77 (1m) (c) of the statutes is amended to read:
SB44,927,2016 224.77 (1m) (c) All forfeitures shall be paid to the division of banking within
1710 days after receipt of notice of assessment or, if the forfeiture is contested under
18par. (b), within 10 days after receipt of the final decision after exhaustion of
19administrative review. The division of banking shall remit all forfeitures paid to the
20state treasurer secretary of administration for deposit in the school fund.
SB44, s. 2362 21Section 2362. 226.025 (3) of the statutes is amended to read:
SB44,928,822 226.025 (3) The appointment of the department of financial institutions or the
23designation of a resident agent as attorney for the service of summons, notice,
24pleadings or process under s. 180.1507 shall be applicable only to actions or
25proceedings against the foreign corporations described in this section (unless such

1corporations have been admitted to this state for purposes other than those
2mentioned in this section) where the cause of action or proceeding arises out of
3transactions between such foreign corporations and public utilities operating in this
4state with which such foreign corporations are affiliated; and to actions or
5proceedings by or before the public service commission or office of the commissioner
6of railroads
involving the transactions described in sub. (1), or involving the relation
7between such foreign corporations and public utilities operating in this state with
8which they are affiliated.
SB44, s. 2363 9Section 2363. 227.01 (13) (s) of the statutes is amended to read:
SB44,928,1210 227.01 (13) (s) Prescribes or relates to a uniform system of accounts for any
11person, including a municipality, that is regulated by the office of the commissioner
12of railroads or the
public service commission.
SB44, s. 2364 13Section 2364. 227.01 (13) (zk) of the statutes is repealed.
SB44, s. 2365 14Section 2365. 227.01 (13) (zL) of the statutes is created to read:
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