Amendment AA2-AB807

LRBa1885/1

ARG:kjf

2015 - 2016 LEGISLATURE

ASSEMBLY AMENDMENT 2, TO ASSEMBLY BILL 807

February 2, 2016 - Offered by Representative Craig.

AB807-AA2,1,1 At the locations indicated, amend the bill as follows:

AB807-AA2,1,2 1. Page 9, line 17: after that line insert:

AB807-AA2,1,3 " Section 17m. DFI-Bkg 14.03 of the administrative code is amended to read:

AB807-AA2,2,9 DFI-Bkg 14.03 Advance notice and approval required. Each bank proposing to engage in an activity authorized under s. 221.0303, Stats., or proposing to change the place or manner in which it engages in such an activity , shall file with the administrator of the division of banking an application a written notice containing such information as the administrator of the division of banking may from time to time prescribe. If the administrator of the division of banking regularly receives information on additions, deletions or changes in locations of customer bank communications terminals from a supplier, a bank is excused from filing an application a written notice merely to change the place at which it offers the services. No bank may commence any such activity unless the place and manner in which the activity is conducted has been approved by the administrator of the division of banking in writing or the administrator of the division of banking does not take written objection to the bank's completed application within 30 days after it has been filed until the bank has filed the written notice under this section. A bank may not commence or continue to engage in any activity authorized under s. 221.0303, Stats., if, in the opinion of the administrator of the division of banking, the activity is beyond the financial or management capabilities of the bank, would result in unfair competition among financial institutions, or is otherwise in violation of this chapter.".

AB807-AA2,2,10 2. Page 10, line 13: after that line insert:

AB807-AA2,2,11 " Section 18g. DFI-SL 12.03 of the administrative code is amended to read:

AB807-AA2,3,3 DFI-SL 12.03 Advance notice and approval required. Each association proposing to engage in an activity authorized under s. 215.13 (46), Stats., or proposing to change the place or manner in which it engages in such an activity, shall file with the division an application a written notice containing such information as the division may from time to time prescribe. No association may commence any such activity unless the place and manner in which the activity is conducted has been approved by the division in writing or the division does not take written objection to the association's completed application within 30 days after it has been filed until the association has filed the written notice under this section. If the division regularly receives information on additions, deletions or changes in locations of remote service units from a supplier, an association is excused from filing an application a written notice merely to add, delete or change the place at which it offers the services. An association may not commence or continue to engage in any activity authorized under s. 215.13 (46), Stats., if, in the opinion of the division, the activity is beyond the financial or management capabilities of the association, would result in unfair competition among financial institutions, or is otherwise in violation of this chapter.

AB807-AA2,18m Section 18m. DFI-SB 12.03 of the administrative code is amended to read:

AB807-AA2,3,21 DFI-SB 12.03 Advance notice and approval required. Each savings bank proposing to engage in an activity authorized under s. 214.04 (21), Stats., or proposing to change the place or manner in which it engages in such an activity, shall file with the division an application a written notice containing such information as the division may from time to time prescribe. No savings bank may commence any such activity unless the place and manner in which the activity is conducted has been approved by the division in writing or the division does not take written objection to the savings bank's completed application within 30 days after it has been filed until the savings bank has filed the written notice under this section. If the division regularly receives information on additions, deletions or changes in locations of remote service units from a supplier, a savings bank is excused from filing an application a written notice merely to add, delete or change the place at which it offers the services. A savings bank may not commence or continue to engage in any activity authorized under s. 214.04 (21), Stats., if, in the opinion of the division, the activity is beyond the financial or management capabilities of the savings bank, would result in unfair competition among financial institutions, or is otherwise in violation of this chapter.".

AB807-AA2,3,22 (End)