Amendment SA1-SB475

LRBa2705/1

ARG:wlj:jf

2011 - 2012 LEGISLATURE

SENATE AMENDMENT 1, TO 2011 SENATE BILL 475

March 6, 2012 - Offered by Senator Grothman.

SB475-SA1,1,1 At the locations indicated, amend the bill as follows:

SB475-SA1,1,2 1. Page 3, line 6: after that line insert:

SB475-SA1,1,3 " Section 2m. 214.725 (4) of the statutes is amended to read:

SB475-SA1,1,10 214.725 (4) If a savings bank, its savings bank holding company or any of its savings bank subsidiaries or service corporations has not been audited at least once in the 12 months before the examination date under sub. (1) (a), notwithstanding sub. (1) (b), the division shall may order an audit of the entity's books and records to be made by an independent certified public accountant, selected by the division, who has experience in financial institution audits. The cost of the audit shall be paid for by the entity being audited.".

SB475-SA1,1,11 (End)