AB133-SSA1-SA1,310,15 14REGULATION OF PUBLIC UTILITIES
15service commission
AB133-SSA1-SA1, s. 2309f 16Section 2309f. Subchapter I (title) of chapter 196 [precedes 196.01] of the
17statutes is created to read:
AB133-SSA1-SA1,310,1818 chapter 196
AB133-SSA1-SA1,310,1919 subchapter I
AB133-SSA1-SA1,310,2020 regulation of public utilities
AB133-SSA1-SA1, s. 2309h 21Section 2309h. 196.01 (intro.) of the statutes is amended to read:
AB133-SSA1-SA1,310,23 22196.01 Definitions. (intro.) As used in this chapter subchapter and ch. 197,
23unless the context requires otherwise:".
AB133-SSA1-SA1,310,24 24967. Page 1179, line 19: after that line insert:
AB133-SSA1-SA1,311,1
1" Section 2308pq. 186.113 (15) (a) of the statutes is amended to read:
AB133-SSA1-SA1,311,222 186.113 (15) (a) Directly or indirectly, acquire, place and operate, or participate
3in the acquisition, placement and operation of, at locations other than its offices,
4remote terminals, in accordance with rules established by the office of credit unions.
5The rules shall provide that any remote terminal shall be available for use, on a
6nondiscriminatory basis, by any state or federal credit union which has its principal
7place of business in this state, by any other credit union obtaining the consent of a
8state or federal credit union which has its principal place of business in this state and
9is using the terminal and by all members designated by a credit union using the
10terminal. This subsection does not authorize a credit union which has its principal
11place of business outside the state to conduct business as a credit union in this state.
12The remote terminals also shall be available for use, on a nondiscriminatory basis,
13by any state or national bank, state or federal savings bank or state or federal savings
14and loan association, whose home office is located in this state, if the bank, savings
15bank or savings and loan association requests to share its use, subject to the joint
16rules established under s. 221.0303 (2). The joint rules under s. 221.0303 (2) shall
17prohibit a state or federal credit union that owns or operates a remote terminal from
18charging a person a fee for a transaction using that remote terminal, unless the
19transaction relates to or affects an account held by that person with that credit union.

20The office of credit unions by order may authorize the installation and operation of
21a remote terminal in a mobile facility, after notice and hearing upon the proposed
22service stops of the mobile facility.".
AB133-SSA1-SA1,311,23 23968. Page 1179, line 19: after that line insert:
AB133-SSA1-SA1,311,24 24" Section 2308mc. 186.01 (2) of the statutes is amended to read:
AB133-SSA1-SA1,312,5
1186.01 (2) "Credit union" means a cooperative, nonprofit corporation,
2incorporated under this chapter to encourage thrift among its members, create a
3source of credit at a fair and reasonable cost and provide an opportunity for its
4members to improve their economic and social conditions
, except as specifically
5provided under ss. 186.41 (1) and 186.45 (1)
.
AB133-SSA1-SA1, s. 2308mf 6Section 2308mf. 186.01 (8) of the statutes is repealed.
AB133-SSA1-SA1, s. 2308mh 7Section 2308mh. 186.02 (2) (a) 1. of the statutes is amended to read:
AB133-SSA1-SA1,312,98 186.02 (2) (a) 1. The conditions of residence or occupation which qualify persons
9determine eligibility for membership.
AB133-SSA1-SA1, s. 2308mj 10Section 2308mj. 186.02 (2) (a) 3. and 4. of the statutes are repealed.
AB133-SSA1-SA1, s. 2308mL 11Section 2308mL. 186.02 (2) (b) 2. of the statutes is amended to read:
AB133-SSA1-SA1,312,1612 186.02 (2) (b) 2. Residents within a well-defined neighborhood, community or
13Individuals that reside or are employed in neighborhoods, communities, rural
14district districts or multicounty regions, unless the office of credit unions determines
15that it is impractical for a particular credit union to serve the area in which the
16individuals reside or are employed
.
AB133-SSA1-SA1, s. 2308mn 17Section 2308mn. 186.02 (2) (b) 3. of the statutes is amended to read:
AB133-SSA1-SA1,312,2118 186.02 (2) (b) 3. Employes of related or vicinal industries or employes of
19industries that operate at least one facility within a neighborhood or urban,
20suburban or rural community the limits of which are not determined by any
21arbitrary physical standard
.
AB133-SSA1-SA1, s. 2308mp 22Section 2308mp. 186.02 (2) (c) of the statutes is amended to read:
AB133-SSA1-SA1,313,223 186.02 (2) (c) Members of the immediate family of all qualified persons are
24eligible for membership. In this paragraph, "members of the immediate family"
25include the wife, husband, parents, stepchildren and children of a member whether

1living together in the same household or not and any other relatives of the member
2or spouse of a member living together in the same household as the member.
AB133-SSA1-SA1, s. 2308mr 3Section 2308mr. 186.02 (2) (d) of the statutes is renumbered 186.02 (2) (d) 1.
4and amended to read:
AB133-SSA1-SA1,313,85 186.02 (2) (d) 1. Organizations and associations An organization or association
6of individuals, the majority of whom the directors, owners or members of which are
7eligible for membership, may be admitted to membership in the same manner and
8under the same conditions as individuals.
AB133-SSA1-SA1, s. 2308mt 9Section 2308mt. 186.02 (2) (d) 2. of the statutes is created to read:
AB133-SSA1-SA1,313,1410 186.02 (2) (d) 2. An organization or association that has a business location
11within any geographic limits of the credit union's field of membership or an
12organization or association that, in the ordinary course of business, provides goods
13and services to credit unions, credit union organizations or persons who are eligible
14for membership in the credit union may be admitted to membership.
AB133-SSA1-SA1, s. 2308mv 15Section 2308mv. 186.08 (1m) (h) of the statutes is created to read:
AB133-SSA1-SA1,313,1816 186.08 (1m) (h) Establishing a policy determining which individuals qualify
17as members of the immediate family of a qualified person for the purpose of
18determining eligibility for membership in the credit union under s. 186.02 (2) (c).
AB133-SSA1-SA1, s. 2308mx 19Section 2308mx. 186.11 (4) (title) and (a) of the statutes are amended to read:
AB133-SSA1-SA1,314,220 186.11 (4) (title) Investment in credit union service corporations
21organizations. (a) A Unless the office of credit unions approves a higher percentage,
22a
credit union may invest not more than 1.5% of its total assets in the capital shares
23or obligations of a credit union service corporation organizations that are
24corporations, limited partnerships, limited liability companies or other entities
25approved by the office of credit unions, and that are
organized primarily to provide

1goods and services, in the ordinary course of business, to credit unions, credit union
2organizations and credit union members.
AB133-SSA1-SA1, s. 2308pc 3Section 2308pc. 186.11 (4) (b) (intro.) and 1. of the statutes are amended to
4read:
AB133-SSA1-SA1,314,65 186.11 (4) (b) (intro.) A credit union service corporation organization under par.
6(a) may provide goods and services including any of the following:
AB133-SSA1-SA1,314,127 1. Credit union operations services, including service centers, credit and debit
8card services, automated teller and remote terminal services, electronic transaction
9services,
accounting systems, data processing, management training and support,
10payment item processing, record retention and storage, locator services, research,
11debt collection, credit analysis and loan servicing, coin and currency services and
12marketing and advertising services.
AB133-SSA1-SA1, s. 2308pf 13Section 2308pf. 186.11 (4) (b) 6. and 7. of the statutes are renumbered 186.11
14(4) (b) 9. and 10.
AB133-SSA1-SA1, s. 2308ph 15Section 2308ph. 186.11 (4) (b) 6m., 7m. and 8. of the statutes are created to
16read:
AB133-SSA1-SA1,314,1817 186.11 (4) (b) 6m. Management, development, sale or lease of fixed assets and
18sale, lease or servicing of computer hardware or software.
AB133-SSA1-SA1,314,1919 7m. Securities brokerage services.
AB133-SSA1-SA1,314,2020 8. Travel agency services.
AB133-SSA1-SA1, s. 2308pj 21Section 2308pj. 186.11 (4) (c) of the statutes is amended to read:
AB133-SSA1-SA1,314,2322 186.11 (4) (c) A credit union service corporation organization may be subject
23to audit examination by the office of credit unions.
AB133-SSA1-SA1, s. 2308pL 24Section 2308pL. 186.113 (1) of the statutes is amended to read:
AB133-SSA1-SA1,315,6
1186.113 (1) Branch offices. If the need and necessity exist and with With the
2approval of the office of credit unions, establish branch offices inside this state or no
3more than 25 miles
or outside of this state. Permanent records may be maintained
4at branch offices established under this subsection. In this subsection, the term
5"branch office" does not include a remote terminal, a limited services office or a
6service center.
AB133-SSA1-SA1, s. 2308pn 7Section 2308pn. 186.113 (1m) (a) (intro.) of the statutes is amended to read:
AB133-SSA1-SA1,315,108 186.113 (1m) (a) (intro.) Establish Before the effective date of this paragraph
9.... [revisor inserts date], establish
limited services offices outside this state to serve
10any member of the credit union if all of the following requirements are met:
AB133-SSA1-SA1, s. 2308pp 11Section 2308pp. 186.113 (6) (b) and (c) of the statutes are amended to read:
AB133-SSA1-SA1,315,1412 186.113 (6) (b) Act as trustees or custodians of member tax deferred retirement
13funds, individual retirement accounts, medical savings accounts or other employe
14benefit accounts or funds
permitted by federal law to be deposited in a credit union.
AB133-SSA1-SA1,315,1615 (c) Act as a depository for member-deferred member qualified and
16nonqualified deferred
compensation funds as permitted by federal law.
AB133-SSA1-SA1, s. 2308pr 17Section 2308pr. 186.113 (24) of the statutes is created to read:
AB133-SSA1-SA1,315,1918 186.113 (24) Funeral trusts. Accept deposits made by members for the
19purpose of funding burial agreements by trusts created pursuant to s. 445.125.
AB133-SSA1-SA1, s. 2308pt 20Section 2308pt. 186.113 (25) of the statutes is created to read:
AB133-SSA1-SA1,315,2321 186.113 (25) Sell or purchase assets. Discount or sell any of its assets and,
22with the prior approval of the office of credit unions, purchase assets of another
23lender or seller.
AB133-SSA1-SA1, s. 2308pv 24Section 2308pv. 186.114 of the statutes is created to read:
AB133-SSA1-SA1,316,5
1186.114. Federal and other powers. (1) Exercise of federal credit union
2powers by Wisconsin credit union.
(a) In general. Subject to the limitations in this
3subsection, a credit union may exercise all powers that may be exercised, directly or
4indirectly through a credit union service organization, by a federally chartered credit
5union or by an affiliate of such an institution.
AB133-SSA1-SA1,316,86 (b) Required notification for exercise of a federal power. A credit union shall give
760 days' prior written notice to the office of credit unions of the credit union's
8intention to exercise a power under this subsection.
AB133-SSA1-SA1,316,129 (c) Exercise of federal powers through a credit union service organization. The
10office of credit unions may require that certain powers exercisable by credit unions
11under this subsection be exercised through a credit union service organization with
12appropriate safeguards to limit the risk exposure of the credit union.
AB133-SSA1-SA1,316,17 13(2) Exercise of other service and incidental activity powers. (a) Necessary
14or convenient powers.
Unless otherwise prohibited or limited by this chapter, a credit
15union may exercise all powers necessary or convenient to effect the purposes for
16which the credit union is organized or to further the businesses in which the credit
17union is lawfully engaged.
AB133-SSA1-SA1,316,2518 (b) Reasonably related powers. Subject to any applicable state or federal
19regulatory or licensing requirements, a credit union may engage, directly or
20indirectly through a credit union service organization, in activities reasonably
21related or incident to the purposes of the credit union. Activities reasonably related
22or incident to the purposes of the credit union are those activities that are part of the
23business of credit unions, or closely related to the business of credit unions, or
24convenient and useful to the business of credit unions, or reasonably related or
25incident to the operation of credit unions or are financial in nature.
AB133-SSA1-SA1,317,3
1(c) Notice requirement. A credit union shall give 60 days' prior written notice
2to the office of credit unions of the credit union's intention to engage in an activity
3under this subsection.
AB133-SSA1-SA1,317,104 (d) Standards for denial. The office of credit unions may deny the authority
5of a credit union to engage in an activity under this subsection if the office of credit
6unions determines that the activity is not an activity reasonably related or incident
7to the purposes of the credit union, that the credit union is not well-capitalized or
8adequately capitalized, that the credit union is the subject of an enforcement action
9or that the credit union does not have satisfactory management expertise for the
10proposed activity.
AB133-SSA1-SA1,317,1211 (e) Other activities approved by the office of credit unions. A credit union may
12engage in any other activity that is approved by rule of the office of credit unions.
AB133-SSA1-SA1,317,1713 (f) Activities provided through a subsidiary. A credit union may engage in
14activities under this subsection, directly or indirectly through a credit union service
15organization, unless the office of credit unions determines that an activity must be
16conducted through a credit union service organization with appropriate safeguards
17to limit the risk exposure of the credit union.
AB133-SSA1-SA1,317,22 18(3) Rule-making authority. The office of credit unions may promulgate rules
19to administer this section. The rules may impose limitations or conditions on the
20exercise of powers under this section if the office of credit unions determines that the
21limits or conditions are necessary for the protection of depositors, members,
22investors or the public.
AB133-SSA1-SA1, s. 2308px 23Section 2308px. 186.115 (1) of the statutes is amended to read:
AB133-SSA1-SA1,318,524 186.115 (1) Scope of authority. Subject to any regulatory approval required
25by law and subject to sub. (2), a credit union, directly or through a subsidiary, may

1undertake any activity, exercise any power or offer any financially related product
2or service in this state that any other provider of financial products or services may
3undertake, exercise or provide or that the office of credit unions finds to be financially
4related. The authority granted under this subsection is in addition to any power or
5authority granted to a credit union under s. 186.114 (1) and (2) (a) and (b).
AB133-SSA1-SA1, s. 2308sc 6Section 2308sc. 186.235 (7) (a) (intro.) of the statutes is amended to read:
AB133-SSA1-SA1,318,107 186.235 (7) (a) (intro.) Employes of the office of credit unions and members of
8the review board shall keep secret all the facts and information obtained in the
9course of examinations, or contained in any report provided by a credit union other
10than a call report,
except in any of the following situations:
AB133-SSA1-SA1, s. 2308sf 11Section 2308sf. 186.235 (7) (c) of the statutes is created to read:
AB133-SSA1-SA1,318,1712 186.235 (7) (c) If any person mentioned in par. (a) discloses any information
13about the private account or transactions of a credit union or any information
14obtained in the course of an examination of a credit union, except as provided in pars.
15(a) and (b), that person may be required to forfeit his or her office or position and may
16be fined not less than $100 nor more than $1,000 or imprisoned for not less than 6
17months nor more than 3 years or both.
AB133-SSA1-SA1, s. 2308sh 18Section 2308sh. 186.235 (7m) of the statutes is created to read:
AB133-SSA1-SA1,318,2119 186.235 (7m) Return of examination reports. Examination reports possessed
20by a credit union are confidential, remain the property of the office of credit unions
21and shall be returned to the office of credit unions immediately upon request.
AB133-SSA1-SA1, s. 2308sj 22Section 2308sj. 186.235 (16) (a) of the statutes is renumbered 186.235 (16).
AB133-SSA1-SA1, s. 2308sL 23Section 2308sL. 186.235 (16) (b) of the statutes is repealed.
AB133-SSA1-SA1, s. 2308sn 24Section 2308sn. 186.36 of the statutes is amended to read:
AB133-SSA1-SA1,319,4
1186.36 Sale of insurance in credit unions. Any officer or employe of a credit
2union, when acting as an agent for the sale of insurance on behalf of the credit union,
3shall pay all commissions received from the sale of credit life insurance or credit
4accident and sickness
insurance to the credit union.
AB133-SSA1-SA1, s. 2308sp 5Section 2308sp. 186.41 (title) of the statutes is amended to read:
AB133-SSA1-SA1,319,7 6186.41 (title) Interstate acquisition acquisitions and merger mergers
7of credit unions.
AB133-SSA1-SA1, s. 2308sr 8Section 2308sr. 186.41 (1) (a) of the statutes is renumbered 186.41 (1) (bm)
9and amended to read:
AB133-SSA1-SA1,319,1110 186.41 (1) (bm) "In-state Wisconsin credit union" means a credit union having
11its principal office located in this state.
AB133-SSA1-SA1, s. 2308st 12Section 2308st. 186.41 (1) (c) of the statutes is renumbered 186.41 (1) (am)
13and amended to read:
AB133-SSA1-SA1,319,1614 186.41 (1) (am) "Regional Out-of-state credit union" means a state or federal
15credit union that has its, the principal office of which is located in one of the regional
16states
a state other than this state.
AB133-SSA1-SA1, s. 2308sv 17Section 2308sv. 186.41 (1) (d) of the statutes is repealed.
AB133-SSA1-SA1, s. 2308sx 18Section 2308sx. 186.41 (2) and (3) of the statutes are amended to read:
AB133-SSA1-SA1,319,2019 186.41 (2) In-state Wisconsin credit union. (a) An in-state A Wisconsin credit
20union may do any of the following:
AB133-SSA1-SA1,319,2221 1. Acquire an interest in, or some or all of the assets and liabilities of, one or
22more regional out-of-state credit unions.
AB133-SSA1-SA1,319,2323 2. Merge with one or more regional out-of-state credit unions.
AB133-SSA1-SA1,320,224 (b) An in-state A Wisconsin credit union proposing any action under par. (a)
25shall provide the office of credit unions a copy of any original application seeking

1approval by a federal agency or by an agency of the regional another state and of any
2supplemental material or amendments filed in connection with any application.
AB133-SSA1-SA1,320,4 3(3) Regional Out-of-state credit unions. Except as provided in sub. (4), a
4regional
an out-of-state credit union may do any of the following:
AB133-SSA1-SA1,320,65 (a) Acquire an interest in, or some or all of the assets of, one or more in-state
6Wisconsin credit unions.
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