AB2-SSA1,37,2323 4. Credit-related activities.
AB2-SSA1,37,2424 5. Consumer services.
AB2-SSA1,37,2525 6. Real estate-related services, including real estate brokerage services.
AB2-SSA1,38,1
17. Insurance and related services, other than insurance underwriting.
AB2-SSA1,38,22 8. Securities brokerage.
AB2-SSA1,38,33 9. Investment advice.
AB2-SSA1,38,44 10. Securities and bond underwriting.
AB2-SSA1,38,55 11. Mutual fund activities.
AB2-SSA1,38,66 12. Financial consulting.
AB2-SSA1,38,77 13. Tax planning and preparation.
AB2-SSA1,38,88 14. Community development and charitable activities.
AB2-SSA1,38,99 15. Debt cancellation contracts.
AB2-SSA1,38,1110 16. Any activities that are reasonably related or incident to activities under
11subds. 1. to 15., as determined by the division.
AB2-SSA1,38,2012 (b) An activity that is authorized by statute or regulation for financial
13institutions to engage in as of the effective date of this paragraph .... [revisor inserts
14date], is an activity that is reasonably related or incident to the purposes of a
15universal bank. An activity permitted under the Bank Holding Company Act is an
16activity that is reasonably related or incident to the purposes of a universal bank.
17The division may expand the list of activities under par. (a) 1. to 15. that are
18reasonably related or incident to the purposes of a universal bank. Any activity
19approved by the division under this paragraph shall be authorized for all universal
20banks.
AB2-SSA1,38,23 21(3) Notice requirement. A universal bank shall give 60 days' prior written
22notice to the division of the universal bank's intention to engage in an activity under
23this section.
AB2-SSA1,39,6 24(4) Standards for denial. The division may deny the authority of a universal
25bank to engage in an activity under this section, other than those activities described

1in sub. (2) (a) 1. to 15., if the division determines that the activity is not an activity
2reasonably related or incident to the purposes of a universal bank. The division may
3deny the authority of a universal bank to engage in an activity under this section if
4the division determines that the universal bank is not well-capitalized, that the
5universal bank is the subject of an enforcement action, or that the universal bank
6does not have satisfactory management expertise for the proposed activity.
AB2-SSA1,39,10 7(5) Insurance intermediation. A universal bank, or an officer or salaried
8employee of a universal bank, may obtain a license as an insurance intermediary, if
9otherwise qualified. A universal bank may not, directly or indirectly through a
10subsidiary, engage in the business of underwriting insurance.
AB2-SSA1,39,12 11(6) Other activities approved by the division. A universal bank may engage
12in any other activity that is approved by rule of the division.
AB2-SSA1,39,16 13(7) Activities provided through a subsidiary. A universal bank may engage
14in an activity under this section, directly or indirectly through a subsidiary, unless
15the division determines that the activity must be conducted through a subsidiary
16with appropriate safeguards to limit the risk exposure of the universal bank.
AB2-SSA1,39,22 17(8) Limitations on investments through subsidiaries. The amount of the
18investment in any one subsidiary that engages in an activity under this section may
19not exceed 20% of a universal bank's capital or, if approved by the division, a higher
20percentage. The aggregate investment in all subsidiaries that engage in an activity
21under this section may not exceed 50% of a universal bank's capital or, if approved
22by the division, a higher percentage.
AB2-SSA1,39,25 23(9) Ownership of subsidiaries. A subsidiary that engages in an activity under
24this section may be owned jointly, with one or more other financial institutions,
25individuals, or entities.
AB2-SSA1,40,2
1222.0415 Trust powers. Subject to rules of the division, a universal bank may
2exercise trust powers in accordance with s. 221.0316.
AB2-SSA1, s. 53 3Section 53. 409.617 (1) (c) of the statutes is amended to read:
AB2-SSA1,40,64 409.617 (1) (c) Discharges any subordinate security interest or other
5subordinate lien other than liens held by this state or a local governmental unit, as
6defined in s. 19.42 (7u)
.
AB2-SSA1, s. 54 7Section 54. Nonstatutory provisions.
AB2-SSA1,40,178 (1) Emergency rules; universal banking. Except as otherwise provided in this
9subsection, using the procedure under section 227.24 of the statutes, the division of
10banking may promulgate rules authorized under chapter 222 of the statutes, as
11created by this act, for the period before permanent rules become effective, but not
12to exceed the period authorized under section 227.24 (1) (c) and (2) of the statutes.
13Notwithstanding section 227.24 (1) (a), (2) (b), and (3) of the statutes, the division of
14banking is not required to provide evidence that promulgating a rule under this
15subsection as an emergency rule is necessary for the preservation of the public peace,
16health, safety, or welfare and is not required to provide a finding of emergency for a
17rule promulgated under this subsection.
AB2-SSA1, s. 55 18Section 55 . Initial applicability.
AB2-SSA1,40,1919 (1) Wage claim liens.
AB2-SSA1,40,2320 (a) Employees covered. The treatment of section 109.01 (1r) of the statutes first
21applies to wages, as defined in section 109.01 (3) of the statutes, earned by an
22employee, as defined in section 109.01 (1r) of the statutes, as affected by this act, on
23the effective date of this paragraph.
AB2-SSA1,41,224 (b) Wage claim lien priority. The renumbering and amendment of section
25109.09 (2) (c) of the statutes and the creation of section 109.09 (2) (c) 2. of the statutes

1first apply to a lien under section 109.09 (2) (a) of the statutes that takes effect on
2the effective date of this paragraph.
AB2-SSA1, s. 56 3Section 56. Effective dates. This act takes effect on the day after publication,
4except as follows:
AB2-SSA1,41,75 (1) Universal banks. The treatment of sections 220.04 (9) (a) 2. and 220.14 (5)
6and chapter 222 of the statutes takes effect on the first day of the 3rd month
7beginning after publication.
AB2-SSA1,41,118 (2) Wage claim liens. The treatment of section 109.01 (1r) of the statutes, the
9renumbering and amendment of section 109.09 (2) (c) of the statutes, the creation of
10section 109.09 (2) (c) 2. and 3. of the statutes and Section 55 (1) (a ) and (b) of this act
11take effect on the first day of the first month beginning after publication.
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