AB150-engrossed,1816,62
215.02
(14) (a) Whenever extra copies of statutory reprints of this chapter, the
3annual report of savings and loan associations or any other publication published by
4the
office division are requested, such extra copies shall be furnished upon payment
5of such fee as the
commissioner division determines. All such fees shall be paid by
6the
commissioner division into the general fund to the credit of the
office division.
AB150-engrossed,1816,108
215.02
(15) (a) 1. (intro.) Within 10 days after any of the following petitions
9have been filed with the
commissioner division, the
commissioner division shall
10proceed to hear the same:
AB150-engrossed,1816,1612
215.02
(15) (b) At the time and place so fixed, unless by stipulation some other
13time and place is fixed, the
commissioner division shall hear all parties interested
14and shall cause the testimony given to be reduced to writing
, or the commissioner
15may designate some person employed in the commissioner's office to take testimony,
16hear the petition and file the testimony with the commissioner.
AB150-engrossed,1816,2018
215.02
(15) (c) The
commissioner
division shall within a reasonable time make
19findings as to all matters covered by the petition and make such order as the
20commissioner division deems just and reasonable.
AB150-engrossed,1816,2322
215.02
(15) (d) The findings and order of the
commissioner division shall be
23final unless modified by the court.
AB150-engrossed,1817,4
1215.02
(16) (a)
Annual fee. Associations organized under this chapter shall, on
2or before July 15, pay an annual fee as determined by the
commissioner division and
3the review board, but not exceeding 12 cents per $1,000 of assets or fraction thereof,
4as of the close of the preceding calendar year.
AB150-engrossed,1817,86
215.02
(16) (b)
Penalty for failure to pay fee. An association failing to pay the
7annual fee to the
commissioner division by July 15 of each year shall, if ordered by
8the
commissioner division, forfeit $10 for each day it fails to pay the fee.
AB150-engrossed,1817,1410
215.02
(16) (c) 1. On or before June 30 of each year the
commissioner division 11and the review board shall fix a per diem charge for the services of each examiner
12used in the examination of an association, for the next 12 months. Such per diem
13charge shall be the same for all associations. The hours constituting a day shall be
14that which is fixed for state employes by s. 230.35.
AB150-engrossed,1817,1916
215.02
(16) (c) 2. After the per diem charge for each examiner has been fixed
17by the
commissioner division and review board, each association shall be uniformly
18billed for examinations during the ensuing year on a fixed per diem basis for each
19examiner engaged in such examination.
AB150-engrossed,1818,221
215.02
(16) (d)
Special examination costs. The
commissioner division shall
22charge any special costs and expenses incurred because of special work required by
23the
commissioner division, caused by an association not having proper or sufficient
24management or failing to keep its books, records and other matters in a standard and
1approved manner. An itemized statement of such charges must be submitted to the
2association.
AB150-engrossed,1818,54
215.02
(17) (a) The
office division may, in relation to any matter within its
5powers, issue subpoenas and take testimony.
AB150-engrossed,1818,127
215.02
(17) (b) Witnesses shall be entitled to the same fees as are allowed to
8witnesses in courts of record. Such fees shall be audited and paid by the state in the
9same manner as other expenses of the
office division are audited and paid. No
10witness subpoenaed at the instance of any party other than the
office division shall
11be entitled to payment of fees by the state, unless the
office division certifies that the
12testimony of the witness was material to the hearing or proceeding.
AB150-engrossed,1818,2514
215.02
(18) Authority to grant certain powers. Unless the
commissioner 15division is expressly restricted by statute from acting under this subsection with
16respect to a specific power, right or privilege, the
commissioner division by rule may,
17with the approval of the review board, authorize associations to exercise any power
18under the notice, disclosure or procedural requirements governing federally
19chartered associations or to make any loan or investment or exercise any right, power
20or privilege of federally chartered associations permitted under a federal law,
21regulation or interpretation. Notice, disclosure and procedures prescribed by statute
22which may be modified by a rule adopted under this subsection include, but are not
23limited to, those provided under s. 138.056. A rule adopted under this subsection
24may not affect s. 138.041 or chs. 421 to 428 or restrict powers specifically granted
25associations under this chapter.
AB150-engrossed,1819,62
215.03
(1) (title)
Types of associations supervised and controlled by the
3commissioner. All associations organized under this chapter or similar laws, or
4permitted by license to transact, in this state, a business similar to that authorized
5by this chapter, shall be under the supervision and control of the
commissioner 6division.
AB150-engrossed,1819,168
215.03
(2) (a) At least once within every 18-month period, the
commissioner 9division shall examine the cash, bills, collaterals, securities, assets, books of account,
10condition and affairs of all such associations and for that purpose the
commissioner 11division or the
division's examiners
appointed by the commissioner shall have access
12to, and may compel the production of, all their books, papers, securities and moneys,
13administer oaths to and examine their officers and agents as to their affairs.
Neither
14the commissioner nor any An employe of the
office shall division may not examine
15an association in which the
commissioner employe is interested as an officer or
16director.
AB150-engrossed,1819,2218
215.03
(2) (b) The
commissioner division may accept an examination-audit
19made by the federal home loan bank board or any other governmental agency
20authorized to make examination-audits of savings and loan associations pursuant
21to their rules and regulations. The examination-audit must comply with the
22procedure established by the
commissioner division.
AB150-engrossed,1819,2524
215.03
(5) (title)
Accounting and bookkeeping procedure prescribed by
25commissioner.
AB150-engrossed,1820,62
215.03
(5) (a) Whenever it appears to the
commissioner division that any
3association does not keep books and accounts in such manner as to enable the
4commissioner division to readily ascertain its true condition, the
commissioner 5division may require the officers of such associations or any of them to open and keep
6such books or accounts as the
commissioner division prescribes.
AB150-engrossed,1820,128
215.03
(5) (b) Any association that fails to open books or keep books or accounts
9as prescribed by the
commissioner division, shall, at the discretion of the
10commissioner division, forfeit $10 for each day it so fails. If the association fails to
11pay the forfeiture, the
commissioner division may institute proceedings to recover
12such forfeitures.
AB150-engrossed,1820,1714
215.03
(6) (a) 1. Not later than February 1 of each year each association subject
15to the supervision and control of the
commissioner
division shall file with the
16commissioner division a report of its activities of the preceding year, upon forms
17furnished by the
commissioner division.
AB150-engrossed,1820,2019
215.03
(6) (a) 2. c. Such other information as the
commissioner division 20requires.
AB150-engrossed,1821,422
215.03
(6) (a) 3. Attached to the annual report shall be a copy of a printed
23statement of condition and operations as of the end of the association's most recent
24fiscal year, which shall be available to the public. The reports shall be published as
25a class 1 notice, under ch. 985, where the association is located, in the condensed form
1as the
commissioner division prescribes. Proof of publication shall be furnished to
2the
commissioner division within 45 days after the date of the report. The printed
3statement shall contain such information as the
commissioner division may by rule
4prescribe.
AB150-engrossed,1821,106
215.03
(6) (b) If such association fails or refuses to furnish the report herein
7required, it shall be subject, at the discretion of the
commissioner division, to a
8forfeiture of $10 per day for each day of default, and the
commissioner division may
9maintain an action
in the name of the state to recover such penalty, and the same
10shall be paid into the general fund.
AB150-engrossed,1821,1512
215.03
(7) (a) Any association which determines to move its home office or
13branch to some other location not more than one mile from its then location shall
14make an application to the
commissioner division. The
commissioner division may
15approve or deny such application for relocation.
AB150-engrossed,1821,2417
215.03
(7) (b) Any association which determines to move its home office or
18branch to some other location more than one mile from its then location shall make
19an application to the
commissioner division. The
commissioner division shall give
20notice and provide an opportunity for hearing as provided in s. 215.40 (7). In
21approving or denying the application for relocation, the
commissioner division shall
22ascertain the need for relocation and determine whether undue harm or injury would
23be caused to any properly conducted association or branch now doing business in the
24area or vicinity of the proposed relocation.
AB150-engrossed,1822,10
1215.03
(8) (a) Any association desiring to establish a branch office, subject to
2the limitations of s. 215.13 (39), shall apply to the
commissioner division in such form
3as the
commissioner division prescribes, giving such information as the
4commissioner division requires. Each application shall be accompanied by a fee of
5$500. The
commissioner division shall give notice and provide an opportunity for
6hearing as provided in s. 215.40 (7). The
commissioner division may grant
7certificates of authority to maintain and operate branch offices or may refuse to issue
8certificates when, in the
commissioner's division's opinion, such branch is not in the
9best interests of the public, or when other good and sufficient reasons exist for
10refusal.
AB150-engrossed,1822,1612
215.03
(8) (b) It is the intent of this section to provide adequate and convenient
13savings and loan facilities for the public. When 2 or more applications for a branch
14in the same area are pending, priority of application shall be considered but not be
15controlling, and the
commissioner division shall give consideration to the equitable
16distribution of branches among the associations making application.
AB150-engrossed,1822,1918
215.03
(8) (c) Review of the decision of the
commissioner division in regard to
19applications for branches shall be governed by s. 215.04 (4).
AB150-engrossed,1822,2221
215.04
(1) (a) Advise the
commissioner, deputy commissioner and others 22division in respect to improvement in the condition and service of associations;
AB150-engrossed,1822,2524
215.04
(1) (b) Review the acts, orders and determinations of the
commissioner 25division under sub. (4);
AB150-engrossed,1823,32
215.04
(1) (c) Act promptly on matters and questions, pertaining to
3associations, that may be submitted to it by the
commissioner division;
AB150-engrossed,1823,85
215.04
(3) (b) The fees of witnesses who are called by the review board in the
6interests of the state shall be paid by the state in the same manner that other
7expenses are paid, upon presentation of proper vouchers approved by a member of
8the review board and charged to the appropriation of the
office division.
AB150-engrossed,1823,2210
215.04
(4) Review of grievances, orders or determinations. Any interested
11person or any association aggrieved by any act, order or determination of the
12commissioner division, which relates to savings and loan associations may, within
1320 days thereof, apply to the review board to review the action of the
commissioner 14division. The sole review of the
commissioner's division's decision shall be to
15determine whether or not the
commissioner division has acted within the scope of the
16commissioner's division's authority, has not acted in an arbitrary or capricious
17manner, and that the act, order or determination of the
commissioner division is
18supported by substantial evidence in view of the entire record as submitted. The
19review of applications for branches, relocation of association offices or new charters
20shall be based exclusively on the record, and no new evidence shall be taken by the
21review board. Applications under this subsection shall be considered and disposed
22of as speedily as possible.
AB150-engrossed,1824,324
215.04
(6) Review of final orders and determinations. Any final order or
25determination of the review board shall be subject to review under ch. 227. If an act,
1order or determination of the
commissioner
division is reversed or modified by the
2review board, the
commissioner division shall be deemed a person aggrieved and
3directly affected thereby under s. 227.53 (1).
AB150-engrossed,1824,145
215.11
(1) Who shall furnish bond; type and form. Before entry upon the
6discharge of the person's duties, every person appointed or elected to any position
7requiring receipt, payment or custody of money or other personal property of an
8association or in its custody or control as collateral or otherwise shall give a bond in
9some surety company, licensed by this state, in such sum as the
commissioner 10division prescribes. In lieu of individual bonds, the
commissioner division may
11accept a schedule or blanket bond which covers all of the officers, directors and
12employes of the association, whose duties include the receipt, payment or custody of
13money or other personal property. Such bonds shall be in the form prescribed by the
14commissioner division.
AB150-engrossed,1824,2116
215.11
(2) (title)
Surety bonds to be approved by the board and filed with the
17commissioner. No officer, director or employe who is required to give bond shall enter
18upon the discharge of the person's duties until the person's bond has been approved
19by the board. The minute book of the association shall contain a record of each bond
20executed and approved. Such bonds shall be filed with the
commissioner division 21within 10 days after approval by the board.
AB150-engrossed,1825,223
215.11
(3) Surety bond coverage. Such bond shall be sufficient to protect the
24association from loss by reason of acts of fraud or dishonesty, including forgery, theft,
25embezzlement, wrongful abstraction or misapplication on the part of the person,
1directly or through connivance with others. At any time the
commissioner division 2may require an additional bond.
AB150-engrossed,1825,94
215.11
(4) (a) No termination of this bond shall be effective unless the surety
5gives in advance at least 10 days' written notice by registered mail to the
6commissioner division. If this bond is terminated at the request of the insured
7(employer) this provision shall apply nevertheless, it being the duty of the surety to
8give the required written notice to the
commissioner
division, such notice to be given
9promptly and within 10 days after the receipt of such request;
AB150-engrossed,1825,1311
215.11
(4) (b) The surety agrees to furnish the
commissioner, at Madison, 12division a copy of all riders and indorsements executed subsequently to the effective
13date of this bond.
AB150-engrossed,1825,1915
215.11
(5) (title)
Commissioner Division may consent to termination and waive
16notice thereof. The
commissioner division may waive, as to the termination of any
17bond, the 10-day written notice in advance and may give written consent to the
18termination being made effective as of a date agreed upon by the surety and the
19association.
AB150-engrossed,1825,2321
215.13
(21) Acquiring assets of other associations. Acquire all or any part
22of the assets of any other association with prior approval of the
commissioner 23division.
AB150-engrossed,1826,2
1215.13
(22) Selling of assets to other associations. Sell all or any part of its
2assets to any other association with prior approval of the
commissioner division.
AB150-engrossed,1826,54
215.13
(26) Investment securities. (intro.) Invest in the following types of
5securities, subject to such limitations as may be fixed by the
commissioner division:
AB150-engrossed,1826,87
215.13
(26) (f) Such other types of securities which may be approved and
8authorized by the
commissioner division.
AB150-engrossed,1826,1210
215.13
(27) Lend money to other associations. Lend money to other savings
11and loan associations incorporated and operating under this chapter, subject to
12approval of the
commissioner division.