SB349,5,1310 215.02 (16) (a) Annual fee. Associations organized under this chapter An
11association
shall, on or before July 15 16, pay an annual fee as determined by the
12commissioner and the review board, but not exceeding 12 cents per $1,000 of assets
13or fraction thereof, as of the close of the preceding calendar year.
SB349, s. 12 14Section 12. 215.02 (16) (a) of the statutes, as affected by 1995 Wisconsin Acts
1527 and .... (this act), is repealed and recreated to read:
SB349,5,1816 215.02 (16) (a) Annual fee. An association shall, before July 16, pay an annual
17fee as determined by the division and the review board, but not exceeding 12 cents
18per $1,000 of assets or fraction thereof, as of the close of the preceding calendar year.
SB349, s. 13 19Section 13. 215.02 (16) (am) of the statutes is created to read:
SB349,5,2520 215.02 (16) (am) Fees on conversion or absorption. If a depository institution
21that is not a state-chartered association converts to a state-chartered association or
22is absorbed by a state-chartered association, the converted association or the
23absorbing association shall pay an annual fee based on the assets of the converted
24association or the absorbed association at the same rate as other associations for the
25prorated portion of the fiscal year in which the association is subject to this chapter.
SB349, s. 14
1Section 14. 215.02 (16) (b) of the statutes is amended to read:
SB349,6,52 215.02 (16) (b) Penalty for failure to pay fee. An association failing to pay the
3annual fee to the commissioner by before July 15 16 of each year shall, if ordered by
4the commissioner, forfeit $10 for each day it fails to pay the fee pay the fee and pay
5interest at an annual rate of 12% on any portion of the fee that is past due
.
SB349, s. 15 6Section 15. 215.02 (16) (b) of the statutes, as affected by 1995 Wisconsin Acts
727 and .... (this act), is repealed and recreated to read:
SB349,6,118 215.02 (16) (b) Penalty for failure to pay fee. An association failing to pay the
9annual fee to the division before July 16 of each year shall, if ordered by the division,
10pay the fee and pay interest at an annual rate of 12% on any portion of the fee that
11is past due.
SB349, s. 16 12Section 16. 215.02 (16) (c) 1. of the statutes is amended to read:
SB349,6,1813 215.02 (16) (c) Regular examination costs. 1. On or before June 30 Before July
141
of each year the commissioner and the review board shall fix a per-diem per-hour
15charge for the services of each examiner used in the examination of an association,
16for the next 12 months. Such per diem The per-hour charge shall be the same for
17all associations. The hours constituting a day shall be that which is fixed for state
18employes by s. 230.35.
SB349, s. 17 19Section 17. 215.02 (16) (c) 1. of the statutes, as affected by 1995 Wisconsin Acts
2027 and .... (this act), is repealed and recreated to read:
SB349,6,2421 215.02 (16) (c) 1. Before July 1 of each year the division and the review board
22shall fix a per-hour charge for the services of each examiner used in the examination
23of an association, for the next 12 months. The per-hour charge shall be the same for
24all associations.
SB349, s. 18 25Section 18. 215.02 (16) (c) 2. of the statutes is amended to read:
SB349,7,4
1215.02 (16) (c) 2. After the per diem per-hour charge for each examiner has
2been fixed by the commissioner and review board, each association shall be
3uniformly billed for examinations during the ensuing year on a fixed per diem
4per-hour basis for each examiner engaged in such an examination.
SB349, s. 19 5Section 19. 215.02 (16) (c) 2. of the statutes, as affected by 1995 Wisconsin Acts
627 and .... (this act), is repealed and recreated to read:
SB349,7,97 215.02 (16) (c) 2. After the per-hour charge for each examiner has been fixed,
8each association shall be uniformly billed for examinations during the ensuing year
9on a fixed per-hour basis for each examiner engaged in an examination.
SB349, s. 20 10Section 20. 215.02 (16) (c) 3. of the statutes is amended to read:
SB349,7,1311 215.02 (16) (c) 3. Every charge so made to an association Charges assessed
12under this paragraph
shall be paid within 30 days from the time date on which the
13association receives notice of the assessment.
SB349, s. 21 14Section 21. 215.02 (16) (d) of the statutes is amended to read:
SB349,7,2015 215.02 (16) (d) The commissioner shall charge any special costs and expenses
16incurred because of for special work required by the commissioner, caused by an
17association not having
because an association does not have proper or sufficient
18management or failing fails to keep its books, records and other matters in a
19standard and approved manner. An itemized statement of such special charges must
20be submitted to the association.
SB349, s. 22 21Section 22. 215.02 (16) (d) of the statutes, as affected by 1995 Wisconsin Acts
2227 and .... (this act), is repealed and recreated to read:
SB349,8,223 215.02 (16) (d) The division shall charge any special costs and expenses
24incurred for special work required because an association does not have proper or
25sufficient management or fails to keep its books, records and other matters in a

1standard and approved manner. An itemized statement of special charges must be
2submitted to the association.
SB349, s. 23 3Section 23. 215.02 (16) (e) of the statutes is amended to read:
SB349,8,84 215.02 (16) (e) Penalty for failure to pay examination costs. Any An association
5failing to shall pay the charges and assessments under pars. (c) and (d) shall be
6subject to the penalty under par. (b) for each day it fails to pay the charge or
7assessment after it becomes due
when due and shall pay interest at an annual rate
8of 12% on any portion of the charges and assessments that are past due
.
SB349, s. 24 9Section 24. 215.03 (2) (b) of the statutes is amended to read:
SB349,8,1510 215.03 (2) (b) The commissioner may accept an examination-audit made by the
11federal home loan bank board deposit insurance corporation, a federal regulatory
12agency
or any other governmental agency authorized to make examination-audits
13of savings and loan associations pursuant to their rules and regulations. The
14examination-audit must comply with the procedure established by the
15commissioner.
SB349, s. 25 16Section 25. 215.03 (2) (b) of the statutes, as affected by 1995 Wisconsin Acts
1727 and .... (this act), is repealed and recreated to read:
SB349,8,2218 215.03 (2) (b) The division may accept an examination-audit made by the
19deposit insurance corporation, a federal regulatory agency or any other
20governmental agency authorized to make examination-audits of associations
21pursuant to their rules and regulations. The examination-audit must comply with
22the procedure established by the division.
SB349, s. 26 23Section 26. 215.13 (26) (c) of the statutes is amended to read:
SB349,9,3
1215.13 (26) (c) Savings accounts of savings and loan associations, located
2outside the state, providing such if those savings accounts are insured by an
3instrumentality of the United States
the deposit insurance corporation;
SB349, s. 27 4Section 27. 215.13 (26) (d) of the statutes is amended to read:
SB349,9,225 215.13 (26) (d) Bonds, notes or other evidences of indebtedness which are
6general obligations supported by the full faith and credit of any state in the United
7States or any city, town, village, county, technical college district or school district in
8any state in the United States if the obligations have been assigned one of the 4
9highest grades by a nationally recognized investment rating service. Before
10purchasing any obligation under this paragraph other than an obligation issued in
11this state, the association shall ascertain whether suitable obligations issued in this
12state are available in the quantity sought by the association at a competitive rate of
13return at the time the investment is intended to be made. If such obligations are
14available, the association shall give preference to obligations issued in this state.
15Notwithstanding any other requirement of this paragraph, an association may
16invest not more than one percent of its assets in the obligations of any city, town,
17village, county, technical college district or school district in this state which are not
18assigned one of the 4 highest grades by a nationally recognized investment rating
19service, if the obligations are issued by a city, town, village, county, technical college
20district or school district in which the association maintains one or more offices or
21if the commissioner gives the association prior written approval to make the
22investment
.
SB349, s. 28 23Section 28. 215.13 (26) (d) of the statutes, as affected by 1995 Wisconsin Act
24.... (this act), is repealed and recreated to read:
SB349,10,17
1215.13 (26) (d) Bonds, notes or other evidences of indebtedness which are
2general obligations supported by the full faith and credit of any state in the United
3States or any city, town, village, county, technical college district or school district in
4any state in the United States if the obligations have been assigned one of the 4
5highest grades by a nationally recognized investment rating service. Before
6purchasing any obligation under this paragraph other than an obligation issued in
7this state, the association shall ascertain whether suitable obligations issued in this
8state are available in the quantity sought by the association at a competitive rate of
9return at the time the investment is intended to be made. If such obligations are
10available, the association shall give preference to obligations issued in this state.
11Notwithstanding any other requirement of this paragraph, an association may
12invest not more than one percent of its assets in the obligations of any city, town,
13village, county, technical college district or school district in this state which are not
14assigned one of the 4 highest grades by a nationally recognized investment rating
15service, if the obligations are issued by a city, town, village, county, technical college
16district or school district in which the association maintains one or more offices or
17if the division gives the association prior written approval to make the investment.
SB349, s. 29 18Section 29. 215.13 (31) of the statutes is amended to read:
SB349,10,2119 215.13 (31) Insurance of savings accounts. Insure the savings accounts of
20savers with the federal savings and loan deposit insurance corporation or with
21another instrumentality approved by the commissioner.
SB349, s. 30 22Section 30. 215.13 (31) of the statutes, as affected by 1995 Wisconsin Acts 27
23and .... (this act), is repealed and recreated to read:
SB349,11,3
1215.13 (31) Insurance of savings accounts. Insure the savings accounts of
2savers with the deposit insurance corporation or with another instrumentality
3approved by the division.
SB349, s. 31 4Section 31. 215.21 (16) (a) (intro.) of the statutes is amended to read:
SB349,11,65 215.21 (16) (a) (intro.) An association may not make a mortgage loan on the
6security of vacant land, except if the loan is any of the following:
SB349, s. 32 7Section 32. 215.21 (16) (a) 5. of the statutes is created to read:
SB349,11,98 215.21 (16) (a) 5. A loan to develop or to acquire and develop land for
9commercial or industrial use.
SB349, s. 33 10Section 33. 215.21 (16) (d) of the statutes is created to read:
SB349,11,1211 215.21 (16) (d) An association may not make a mortgage loan on the security
12of or to finance the purchase of vacant land that is acquired or held for speculation.
SB349, s. 34 13Section 34. 215.21 (28) of the statutes is amended to read:
SB349,11,2114 215.21 (28) (title) Loans outside the lending area. Subject to the rules issued
15by
of the commissioner and without regard to the limitation set forth in sub. (2), an
16association may make or invest its funds in loans, originated and serviced by or
17through an institution, the accounts or deposits of which are insured by the federal
18savings and loan insurance corporation or the federal
deposit insurance corporation
19or by or through an approved federal housing administration mortgagee, in an
20aggregate amount not exceeding 10% of such association's assets on the security of
21real estate or leasehold interests.
SB349, s. 35 22Section 35. 215.21 (28) of the statutes, as affected by 1995 Wisconsin Acts 27
23and .... (this act), is repealed and recreated to read:
SB349,12,424 215.21 (28) Loans. Subject to the rules of the division, an association may make
25or invest its funds in loans, originated and serviced by or through an institution, the

1accounts or deposits of which are insured by the deposit insurance corporation or by
2or through an approved federal housing administration mortgagee, in an aggregate
3amount not exceeding 10% of such association's assets on the security of real estate
4or leasehold interests.
SB349, s. 36 5Section 36. 215.26 (8) (b) 3. of the statutes is amended to read:
SB349,12,86 215.26 (8) (b) 3. Any The deposit insurance corporation or any federal agency
7or other instrumentality approved by the commissioner which is authorized to
8inspect and examine books and records of an insured association.
SB349, s. 37 9Section 37. 215.26 (8) (b) 3. of the statutes, as affected by 1995 Wisconsin Acts
1027 and .... (this act), is repealed and recreated to read:
SB349,12,1311 215.26 (8) (b) 3. The deposit insurance corporation or any federal agency or
12other instrumentality approved by the division which is authorized to inspect and
13examine books and records of an insured association.
SB349, s. 38 14Section 38. 215.32 (15) (title) of the statutes is amended to read:
SB349,12,1715 215.32 (15) (title) Procedure upon taking possession of association whose
16savings accounts are insured by
federal savings and loan deposit insurance
17corporation.
SB349, s. 39 18Section 39. 215.32 (15) (a) of the statutes is amended to read:
SB349,13,919 215.32 (15) (a) The commissioner may, if the commissioner takes possession
20of any association, the savings accounts of which are to any extent insured by the
21federal savings and loan deposit insurance corporation, tender to said the deposit
22insurance
corporation the appointment as statutory liquidator of such association.
23If the commissioner does not make such tender, the commissioner shall tender to said
24the deposit insurance corporation the appointment as statutory co-liquidator to act
25jointly with the commissioner, but such the co-liquidatorship shall not be for more

1than one year from the date of such tender, at the expiration of which time the
2commissioner shall become the sole liquidator except as herein otherwise provided.
3The commissioner shall tender to said the deposit insurance corporation the
4appointment as sole statutory liquidator of such association whenever said the
5deposit insurance
corporation has become subrogated to the rights of 90 per cent %
6of the liability of such the association on savings accounts. If the deposit insurance
7corporation becomes subrogated as to all the savings accounts in such the
8association, it may then exercise all the powers and privileges herein conferred upon
9it without court approval.
SB349, s. 40 10Section 40. 215.32 (15) (a) of the statutes, as affected by 1995 Wisconsin Acts
1127 and .... (this act), is repealed and recreated to read:
SB349,13,2512 215.32 (15) (a) The division may, if the division takes possession of any
13association, the savings accounts of which are to any extent insured by the deposit
14insurance corporation, tender to the deposit insurance corporation the appointment
15as statutory liquidator of such association. If the division does not make such tender,
16the division shall tender to the deposit insurance corporation the appointment as
17statutory co-liquidator to act jointly with the division, but the co-liquidatorship
18shall not be for more than one year from the date of such tender, at the expiration
19of which time the division shall become the sole liquidator except as herein otherwise
20provided. The division shall tender to the deposit insurance corporation the
21appointment as sole statutory liquidator of such association whenever the deposit
22insurance corporation has become subrogated to the rights of 90% of the liability of
23the association on savings accounts. If the deposit insurance corporation becomes
24subrogated as to all the savings accounts in the association, it may then exercise all
25the powers and privileges conferred upon it without court approval.
SB349, s. 41
1Section 41. 215.33 (3) (b) 2. of the statutes is amended to read:
SB349,14,62 215.33 (3) (b) 2. The accounts of the association are insured by the federal
3savings and loan
deposit insurance corporation or any other insurer acceptable to the
4commissioner, or that adequate and sufficient securities have been deposited with
5the state treasurer to assure that the association will meet its obligations to the
6residents of this state.
SB349, s. 42 7Section 42. 215.33 (3) (b) 2. of the statutes, as affected by 1995 Wisconsin Acts
827 and .... (this act), is repealed and recreated to read:
SB349,14,129 215.33 (3) (b) 2. The accounts of the association are insured by the deposit
10insurance corporation or any other insurer acceptable to the division, or that
11adequate and sufficient securities have been deposited with the state treasurer to
12assure that the association will meet its obligations to the residents of this state.
SB349, s. 43 13Section 43. 215.33 (6) of the statutes is amended to read:
SB349,14,2314 215.33 (6) Reciprocity. If the laws of another jurisdiction prohibit an
15association chartered by this state and insured by the federal savings and loan
16deposit insurance corporation from doing business in that jurisdiction, no
17association organized under the laws of that jurisdiction may be authorized to do
18business in this state. If the laws of another jurisdiction require the posting of
19securities or impose other additional requirements as a condition of permitting an
20association chartered by this state to do business in that jurisdiction, the
21commissioner may impose similar requirements on an association organized under
22the laws of that jurisdiction before issuing the association a certificate of authority
23to do business in this state.
SB349, s. 44 24Section 44. 215.33 (6) of the statutes, as affected by 1995 Wisconsin Acts 27
25and .... (this act), is repealed and recreated to read:
SB349,15,9
1215.33 (6) Reciprocity. If the laws of another jurisdiction prohibit an
2association chartered by this state and insured by the deposit insurance corporation
3from doing business in that jurisdiction, no association organized under the laws of
4that jurisdiction may be authorized to do business in this state. If the laws of another
5jurisdiction require the posting of securities or impose other additional requirements
6as a condition of permitting an association chartered by this state to do business in
7that jurisdiction, the division may impose similar requirements on an association
8organized under the laws of that jurisdiction before issuing the association a
9certificate of authority to do business in this state.
SB349, s. 45 10Section 45. 215.35 (2) (b) of the statutes is amended to read:
SB349,15,1311 215.35 (2) (b) Section 215.36 does not limit any authority of the federal home
12loan bank board or federal savings and loan deposit insurance corporation in
13connection with an acquisition under this section.
SB349, s. 46 14Section 46. 215.36 (1) (d) of the statutes is amended to read:
SB349,15,2015 215.36 (1) (d) "Regional savings and loan" means a foreign association, if its
16accounts are insured by the federal savings and loan deposit insurance corporation,
17or a federal savings and loan association, both having their home offices located in
18one of the regional states and that, if owned or controlled by a company, is owned or
19controlled by a regional state savings and loan holding company or by an in-state
20savings and loan holding company.
SB349, s. 47 21Section 47. 215.40 (13) (a) 9. of the statutes is amended to read:
SB349,15,2522 215.40 (13) (a) 9. That necessary action has been taken to obtain membership
23in the federal home loan bank, and insurance of savings accounts from the federal
24savings and loan
deposit insurance corporation or other instrumentality approved
25by the commissioner.
SB349, s. 48
1Section 48. 215.40 (13) (a) 9. of the statutes, as affected by 1995 Wisconsin Acts
227 and .... (this act), is repealed and recreated to read:
SB349,16,53 215.40 (13) (a) 9. That necessary action has been taken to obtain membership
4in the federal home loan bank, and insurance of savings accounts from the deposit
5insurance corporation or other instrumentality approved by the division.
SB349, s. 49 6Section 49. 215.57 (1) (d) 1. of the statutes is amended to read:
SB349,16,137 215.57 (1) (d) 1. Within 6 months after the adjournment of a meeting to convert
8into a federal association, the association shall do what is necessary to make it a
9federal association. Within 10 days after the receipt of the federal charter, the
10association shall file with the commissioner a copy of the federal charter certified by
11the federal home loan bank board deposit insurance corporation. Upon such filing
12the association shall cease to be a state-chartered association and shall thereafter
13be a federal association.
SB349, s. 50 14Section 50. 215.57 (1) (d) 1. of the statutes, as affected by 1995 Wisconsin Acts
1527 and .... (this act), is repealed and recreated to read:
SB349,16,2116 215.57 (1) (d) 1. Within 6 months after the adjournment of a meeting to convert
17into a federal association, the association shall do what is necessary to make it a
18federal association. Within 10 days after the receipt of the federal charter, the
19association shall file with the division a copy of the federal charter certified by the
20deposit insurance corporation. Upon such filing the association shall cease to be a
21state-chartered association and shall thereafter be a federal association.
SB349, s. 51 22Section 51. 215.60 (11) (a) 7. of the statutes is amended to read:
SB349,16,2523 215.60 (11) (a) 7. That insurance of savings accounts has been obtained from
24the federal savings and loan deposit insurance corporation or other instrumentality
25approved by the commissioner; and
SB349, s. 52
1Section 52. 215.60 (11) (a) 7. of the statutes, as affected by 1995 Wisconsin Acts
227 and .... (this act), is repealed and recreated to read:
SB349,17,53 215.60 (11) (a) 7. That insurance of savings accounts has been obtained from
4the deposit insurance corporation or other instrumentality approved by the division;
5and
SB349, s. 53 6Section 53. 215.77 (1) (d) 1. of the statutes is amended to read:
SB349,17,137 215.77 (1) (d) 1. Within 6 months after the adjournment of a meeting to convert
8into a federal association, the association shall do what is necessary to make it a
9federal association. Within 10 days after receipt of the federal charter, the
10association shall file with the commissioner a copy of the federal charter, certified by
11the federal home loan bank board deposit insurance corporation. Upon such filing
12the association shall cease to be a state-chartered association and shall thereafter
13be a federal association.
SB349, s. 54 14Section 54. 215.77 (1) (d) 1. of the statutes, as affected by 1995 Wisconsin Acts
1527 and .... (this act), is repealed and recreated to read:
SB349,17,2116 215.77 (1) (d) 1. Within 6 months after the adjournment of a meeting to convert
17into a federal association, the association shall do what is necessary to make it a
18federal association. Within 10 days after receipt of the federal charter, the
19association shall file with the division a copy of the federal charter, certified by the
20deposit insurance corporation. Upon such filing the association shall cease to be a
21state-chartered association and shall thereafter be a federal association.
SB349, s. 55 22Section 55. 551.22 (4) of the statutes is amended to read:
SB349,18,323 551.22 (4) Any security issued by and representing an interest in or a debt of,
24or guaranteed by, any federal savings bank or federal savings and loan association,
25or any savings bank or savings and loan or similar association organized under the

1laws of any state and licensed to do business in this state , but not including the
2capital stock of a state-chartered capital stock savings bank or savings and loan
3association
.
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