215.02 (16) (c) 2. After the per diem charge for each examiner has been fixed by the commissioner division and review board, each association shall be uniformly billed for examinations during the ensuing year on a fixed per diem basis for each examiner engaged in such examination.
27,5539
Section 5539
. 215.02 (16) (d) of the statutes is amended to read:
215.02 (16) (d) Special examination costs. The commissioner division shall charge any special costs and expenses incurred because of special work required by the commissioner division, caused by an association not having proper or sufficient management or failing to keep its books, records and other matters in a standard and approved manner. An itemized statement of such charges must be submitted to the association.
27,5540
Section 5540
. 215.02 (17) (a) of the statutes is amended to read:
215.02 (17) (a) The office
division may, in relation to any matter within its powers, issue subpoenas and take testimony.
27,5541
Section 5541
. 215.02 (17) (b) of the statutes is amended to read:
215.02 (17) (b) Witnesses shall be entitled to the same fees as are allowed to witnesses in courts of record. Such fees shall be audited and paid by the state in the same manner as other expenses of the office division are audited and paid. No witness subpoenaed at the instance of any party other than the office division shall be entitled to payment of fees by the state, unless the office
division certifies that the testimony of the witness was material to the hearing or proceeding.
27,5542
Section 5542
. 215.02 (18) of the statutes is amended to read:
215.02 (18) Authority to grant certain powers. Unless the commissioner division is expressly restricted by statute from acting under this subsection with respect to a specific power, right or privilege, the commissioner division by rule may, with the approval of the review board, authorize associations to exercise any power under the notice, disclosure or procedural requirements governing federally chartered associations or to make any loan or investment or exercise any right, power or privilege of federally chartered associations permitted under a federal law, regulation or interpretation. Notice, disclosure and procedures prescribed by statute which may be modified by a rule adopted under this subsection include, but are not limited to, those provided under s. 138.056. A rule adopted under this subsection may not affect s. 138.041 or chs. 421 to 428 or restrict powers specifically granted associations under this chapter.
27,5543
Section 5543
. 215.03 (1) of the statutes is amended to read:
215.03 (1) (title) Types of associations supervised and controlled by the commissioner. All associations organized under this chapter or similar laws, or permitted by license to transact, in this state, a business similar to that authorized by this chapter, shall be under the supervision and control of the commissioner division.
27,5544
Section 5544
. 215.03 (2) (a) of the statutes is amended to read:
215.03 (2) (a) At least once within every 18-month period, the commissioner division shall examine the cash, bills, collaterals, securities, assets, books of account, condition and affairs of all such associations and for that purpose the commissioner division or the division's examiners appointed by the commissioner shall have access to, and may compel the production of, all their books, papers, securities and moneys, administer oaths to and examine their officers and agents as to their affairs. Neither the commissioner nor any An employe of the office shall division may not examine an association in which the commissioner employe is interested as an officer or director.
27,5545
Section 5545
. 215.03 (2) (b) of the statutes is amended to read:
215.03 (2) (b) The commissioner
division may accept an examination-audit made by the federal home loan bank board or any other governmental agency authorized to make examination-audits of savings and loan associations pursuant to their rules and regulations. The examination-audit must comply with the procedure established by the commissioner division.
27,5546
Section 5546
. 215.03 (5) (title) of the statutes is amended to read:
215.03 (5) (title) Accounting and bookkeeping procedure prescribed by commissioner.
27,5547
Section 5547
. 215.03 (5) (a) of the statutes is amended to read:
215.03 (5) (a) Whenever it appears to the commissioner division that any association does not keep books and accounts in such manner as to enable the commissioner division to readily ascertain its true condition, the commissioner division may require the officers of such associations or any of them to open and keep such books or accounts as the commissioner division prescribes.
27,5548
Section 5548
. 215.03 (5) (b) of the statutes is amended to read:
215.03 (5) (b) Any association that fails to open books or keep books or accounts as prescribed by the commissioner division, shall, at the discretion of the commissioner division, forfeit $10 for each day it so fails. If the association fails to pay the forfeiture, the commissioner division may institute proceedings to recover such forfeitures.
27,5549
Section 5549
. 215.03 (6) (a) 1. of the statutes is amended to read:
215.03 (6) (a) 1. Not later than February 1 of each year each association subject to the supervision and control of the commissioner division shall file with the commissioner division a report of its activities of the preceding year, upon forms furnished by the commissioner division.
27,5550
Section 5550
. 215.03 (6) (a) 2. c. of the statutes is amended to read:
215.03 (6) (a) 2. c. Such other information as the commissioner division requires.
27,5551
Section 5551
. 215.03 (6) (a) 3. of the statutes is amended to read:
215.03 (6) (a) 3. Attached to the annual report shall be a copy of a printed statement of condition and operations as of the end of the association's most recent fiscal year, which shall be available to the public. The reports shall be published as a class 1 notice, under ch. 985, where the association is located, in the condensed form as the commissioner division prescribes. Proof of publication shall be furnished to the commissioner
division within 45 days after the date of the report. The printed statement shall contain such information as the commissioner division may by rule prescribe.
27,5552
Section 5552
. 215.03 (6) (b) of the statutes is amended to read:
215.03 (6) (b) If such association fails or refuses to furnish the report herein required, it shall be subject, at the discretion of the commissioner division, to a forfeiture of $10 per day for each day of default, and the commissioner division may maintain an action
in the name of the state to recover such penalty, and the same shall be paid into the general fund.
27,5553
Section 5553
. 215.03 (7) (a) of the statutes is amended to read:
215.03 (7) (a) Any association which determines to move its home office or branch to some other location not more than one mile from its then location shall make an application to the commissioner division. The commissioner division may approve or deny such application for relocation.
27,5554
Section 5554
. 215.03 (7) (b) of the statutes is amended to read:
215.03 (7) (b) Any association which determines to move its home office or branch to some other location more than one mile from its then location shall make an application to the commissioner division. The commissioner division shall give notice and provide an opportunity for hearing as provided in s. 215.40 (7). In approving or denying the application for relocation, the commissioner division shall ascertain the need for relocation and determine whether undue harm or injury would be caused to any properly conducted association or branch now doing business in the area or vicinity of the proposed relocation.
27,5555
Section 5555
. 215.03 (8) (a) of the statutes is amended to read:
215.03 (8) (a) Any association desiring to establish a branch office, subject to the limitations of s. 215.13 (39), shall apply to the commissioner division in such form as the commissioner division prescribes, giving such information as the commissioner division requires. Each application shall be accompanied by a fee of $500. The commissioner division shall give notice and provide an opportunity for hearing as provided in s. 215.40 (7). The commissioner division may grant certificates of authority to maintain and operate branch offices or may refuse to issue certificates when, in the commissioner's division's opinion, such branch is not in the best interests of the public, or when other good and sufficient reasons exist for refusal.
27,5556
Section 5556
. 215.03 (8) (b) of the statutes is amended to read:
215.03 (8) (b) It is the intent of this section to provide adequate and convenient savings and loan facilities for the public. When 2 or more applications for a branch in the same area are pending, priority of application shall be considered but not be controlling, and the commissioner division shall give consideration to the equitable distribution of branches among the associations making application.
27,5557
Section 5557
. 215.03 (8) (c) of the statutes is amended to read:
215.03 (8) (c) Review of the decision of the
commissioner division in regard to applications for branches shall be governed by s. 215.04 (4).
27,5558
Section 5558
. 215.04 (1) (a) of the statutes is amended to read:
215.04 (1) (a) Advise the commissioner, deputy commissioner and others division in respect to improvement in the condition and service of associations;
27,5559
Section 5559
. 215.04 (1) (b) of the statutes is amended to read:
215.04 (1) (b) Review the acts, orders and determinations of the commissioner division under sub. (4);
27,5560
Section 5560
. 215.04 (1) (c) of the statutes is amended to read:
215.04 (1) (c) Act promptly on matters and questions, pertaining to associations, that may be submitted to it by the commissioner division;
27,5561
Section 5561
. 215.04 (3) (b) of the statutes is amended to read:
215.04 (3) (b) The fees of witnesses who are called by the review board in the interests of the state shall be paid by the state in the same manner that other expenses are paid, upon presentation of proper vouchers approved by a member of the review board and charged to the appropriation of the office division.
27,5562
Section 5562
. 215.04 (4) of the statutes is amended to read:
215.04 (4) Review of grievances, orders or determinations. Any interested person or any association aggrieved by any act, order or determination of the commissioner division, which relates to savings and loan associations may, within 20 days thereof, apply to the review board to review the action of the commissioner
division. The sole review of the commissioner's
division's decision shall be to determine whether or not the commissioner division has acted within the scope of the commissioner's division's authority, has not acted in an arbitrary or capricious manner, and that the act, order or determination of the commissioner division is supported by substantial evidence in view of the entire record as submitted. The review of applications for branches, relocation of association offices or new charters shall be based exclusively on the record, and no new evidence shall be taken by the review board. Applications under this subsection shall be considered and disposed of as speedily as possible.
27,5563
Section 5563
. 215.04 (6) of the statutes is amended to read:
215.04 (6) Review of final orders and determinations. Any final order or determination of the review board shall be subject to review under ch. 227. If an act, order or determination of the commissioner division is reversed or modified by the review board, the commissioner division shall be deemed a person aggrieved and directly affected thereby under s. 227.53 (1).
27,5564
Section 5564
. 215.11 (1) of the statutes is amended to read:
215.11 (1) Who shall furnish bond; type and form. Before entry upon the discharge of the person's duties, every person appointed or elected to any position requiring receipt, payment or custody of money or other personal property of an association or in its custody or control as collateral or otherwise shall give a bond in some surety company, licensed by this state, in such sum as the commissioner division prescribes. In lieu of individual bonds, the commissioner division may accept a schedule or blanket bond which covers all of the officers, directors and employes of the association, whose duties include the receipt, payment or custody of money or other personal property. Such bonds shall be in the form prescribed by the commissioner division.
27,5565
Section 5565
. 215.11 (2) of the statutes is amended to read:
215.11 (2) (title) Surety bonds to be approved by the board and filed with the commissioner. No officer, director or employe who is required to give bond shall enter upon the discharge of the person's duties until the person's bond has been approved by the board. The minute book of the association shall contain a record of each bond executed and approved. Such bonds shall be filed with the commissioner division within 10 days after approval by the board.
27,5566
Section 5566
. 215.11 (3) of the statutes is amended to read:
215.11 (3) Surety bond coverage. Such bond shall be sufficient to protect the association from loss by reason of acts of fraud or dishonesty, including forgery, theft, embezzlement, wrongful abstraction or misapplication on the part of the person, directly or through connivance with others. At any time the commissioner division may require an additional bond.
27,5567
Section 5567
. 215.11 (4) (a) of the statutes is amended to read:
215.11 (4) (a) No termination of this bond shall be effective unless the surety gives in advance at least 10 days' written notice by registered mail to the commissioner division. If this bond is terminated at the request of the insured (employer) this provision shall apply nevertheless, it being the duty of the surety to give the required written notice to the commissioner division, such notice to be given promptly and within 10 days after the receipt of such request;
27,5568
Section 5568
. 215.11 (4) (b) of the statutes is amended to read:
215.11 (4) (b) The surety agrees to furnish the
commissioner, at Madison, division a copy of all riders and indorsements executed subsequently to the effective date of this bond.
27,5569
Section 5569
. 215.11 (5) of the statutes is amended to read:
215.11 (5) (title) Commissioner Division may consent to termination and waive notice thereof. The commissioner division may waive, as to the termination of any bond, the 10-day written notice in advance and may give written consent to the termination being made effective as of a date agreed upon by the surety and the association.
27,5570
Section 5570
. 215.13 (21) of the statutes is amended to read:
215.13 (21) Acquiring assets of other associations. Acquire all or any part of the assets of any other association with prior approval of the commissioner
division.
27,5571
Section 5571
. 215.13 (22) of the statutes is amended to read:
215.13 (22) Selling of assets to other associations. Sell all or any part of its assets to any other association with prior approval of the commissioner
division.
27,5572
Section 5572
. 215.13 (26) (intro.) of the statutes is amended to read:
215.13 (26) Investment securities. (intro.) Invest in the following types of securities, subject to such limitations as may be fixed by the commissioner division:
27,5573
Section
5573. 215.13 (26) (f) of the statutes is amended to read:
215.13 (26) (f) Such other types of securities which may be approved and authorized by the commissioner
division.
27,5574
Section 5574
. 215.13 (27) of the statutes is amended to read:
215.13 (27) Lend money to other associations. Lend money to other savings and loan associations incorporated and operating under this chapter, subject to approval of the commissioner division.
27,5575
Section 5575
. 215.13 (28) of the statutes is amended to read:
215.13 (28) Borrowing money. Borrow money and issue its obligations for the borrowed money, including but not limited to obligations, bonds, notes or other debt securities. The aggregate amount borrowed under this subsection may not exceed 50% of the association's total assets, except with the prior written approval of the commissioner division. An obligation, bond, note or other debt security may include a written provision subordinating the debt to claims of other creditors or of savers.
27,5576
Section 5576
. 215.13 (31) of the statutes is amended to read:
215.13 (31) Insurance of savings accounts. Insure the savings accounts of savers with the federal savings and loan insurance corporation or with another instrumentality approved by the commissioner division.
27,5577
Section 5577
. 215.13 (36) of the statutes is amended to read:
215.13 (36) Limited office. With the prior written approval of the commissioner division, establish a limited office providing lending or other services. Deposits to savings accounts may not be accepted at a limited office except as permitted under sub. (46).
27,5578
Section 5578
. 215.13 (39) of the statutes is amended to read:
215.13 (39) Branches. Subject to the approval of the commissioner division, any savings and loan association may establish and maintain one or more branch offices within the normal lending area of the home office, as defined in s. 215.21 (2), in this state or in any one of the regional states, as defined in s. 215.36 (1) (f). In the commissioner's division's approval, the commissioner division may limit the powers of the branch. Savings and loan associations may promote thrift in their local schools by accepting payments in the school upon savings accounts of the teachers and pupils.
27,5579
Section 5579
. 215.13 (40) of the statutes is amended to read:
215.13 (40) Location of branches. Whenever an association is absorbed or a branch office is acquired under s. 215.36, 215.53 or 215.73, maintain and operate a branch office at the location of the absorbed association or of the acquired branch office, if the commissioner division finds that the continued operation of a branch office at the location of the absorbed association or of the acquired branch office would be in the public interest. This subsection does not permit continued operation of an office of an absorbed association which received its certificate of incorporation less than 5 years prior to its absorption.
27,5580
Section 5580
. 215.13 (41) of the statutes is amended to read:
215.13 (41) Seller of checks. To engage as an authorized agent in the business and functions provided for in ch. 217 for their members upon receiving a certificate of authority from the commissioner division. Such applicants shall be under the jurisdiction and supervision of the commissioner division and meet the same requirements as other applicants under ch. 217, but no license or investigation fee shall be charged savings and loan association applicants. The commissioner division has the authority to enforce ch. 217 as it applies to savings and loan associations, the same as that granted the commissioner of banking in enforcing ch. 217. The commissioner division shall determine the records that shall be maintained and shall require the segregation of such funds as is necessary for operations permitted savings and loan associations under this subsection and ch. 217.
27,5581
Section 5581
. 215.13 (42) of the statutes is amended to read:
215.13 (42) Invest in real property. Invest in, or in interests in, real property, subject to such rules as the commissioner division shall issue.
27,5582
Section 5582
. 215.13 (46) (a) 1. of the statutes is amended to read:
215.13 (46) (a) 1. Directly or indirectly, acquire, place and operate, or participate in the acquisition, placement and operation of, at locations other than its home or branch offices, remote service units, in accordance with rules established by the commissioner division. Remote service units established in accordance with such rules are not subject to sub. (36), (39), (40) or (47) or s. 215.03 (8). The rules of the commissioner division shall provide that any such remote service unit shall be available for use, on a nondiscriminatory basis, by any state or federal savings and loan association which has its principal place of business in this state, by any other savings and loan association obtaining the consent of a state or federal savings and loan association which has its principal place of business in this state and is using the terminal and by all customers designated by a savings and loan association using the unit. This paragraph does not authorize a savings and loan association which has its principal place of business outside this state to conduct business as a savings and loan association in this state. The remote service units also shall be available for use, on a nondiscriminatory basis, by any credit union, state or national bank or state or federal savings bank, whose home office is located in this state, if the credit union, bank or savings bank requests to share its use, subject to the joint rules established under s. 221.04 (1) (k). The rules of the
commissioner division shall prohibit any advertising with regard to a shared remote service unit which suggests or implies exclusive ownership or control of the shared unit by any savings and loan association or group of savings and loan associations operating or participating in the operation of the unit. The commissioner division by order may authorize the installation and operation of a remote service unit in a mobile facility, after notice and hearing upon the proposed service stops of the mobile facility.
