15.165(3)(b)7. 7. One member who is a participating state employee.

15.165(3)(b)8. 8. One member who is a public member not a participant in or beneficiary of the Wisconsin retirement system. It is the intent of the legislature that the members appointed under this paragraph shall represent the interests of the taxpayers of this state and shall not be representative of public employee or employer interests.

15.165(3)(b)9. 9. The commissioner of insurance or the commissioner’s designee under s. 601.415 (3).

15.165(4) (4) Deferred compensation board. There is created in the department of employee trust funds a deferred compensation board consisting of 5 members appointed for 4-year terms.

15.165 History History: 1973 c. 151, 329; 1977 c. 29, 418; 1979 c. 221; 1981 c. 96; 1983 a. 192 s. 303 (7); 1983 a. 290; 1985 a. 230; 1987 a. 403; 1989 a. 31; 1993 a. 399; 1999 a. 9; 2001 a. 103; 2003 a. 33 ss. 102, 9160; 2005 a. 66; 2007 a. 20 s. 9121 (6) (a); 2021 a. 240; 2023 a. 212.

15.165 Annotation Public school administrators are eligible to be candidates for and to vote for teacher representatives on the teachers retirement board. 76 Atty. Gen. 141.

15.18 15.18 Department of financial institutions. There is created a department of financial institutions under the direction and supervision of the secretary of financial institutions.

15.18 History History: 1995 a. 27.

15.183 15.183 Same; specified divisions.

15.183(1) (1) Division of banking. There is created a division of banking. Prior to July 1, 2000, the division is attached to the department of financial institutions under s. 15.03. After June 30, 2000, the division is created in the department of financial institutions. The administrator of the division shall be appointed outside the classified service by the secretary of financial institutions and shall serve at the pleasure of the secretary.

15.183(3) (3) Division of securities. There is created a division of securities. Prior to July 1, 2000, the division is attached to the department of financial institutions under s. 15.03. After June 30, 2000, the division is created in the department of financial institutions. The administrator of the division shall be appointed outside the classified service by the secretary of financial institutions and shall serve at the pleasure of the secretary.

15.183 History History: 1995 a. 27; 1999 a. 9; 2003 a. 33.

15.185 15.185 Same; attached boards, offices, and councils.

15.185(1) (1) Banking institutions review board. There is created in the department of financial institutions a banking institutions review board consisting of 5 persons, appointed for staggered 5-year terms. At least 3 members shall be experienced bankers or savings institution employees having at least 5 years’ experience in the banking or savings institution business. No member is qualified to act in any matter involving a bank or savings institution in which the member is an officer, director, or stockholder, or to which the member is indebted.

15.185(5) (5) College savings program board. There is created a college savings program board that is attached to the department of financial institutions under s. 15.03 and that consists of all of the following members:

15.185(5)(a) (a) The secretary of financial institutions or his or her designee.

15.185(5)(b) (b) The president of the board of regents of the University of Wisconsin System or his or her designee.

15.185(5)(c) (c) The president of the Wisconsin Association of Independent Colleges and Universities or his or her designee.

15.185(5)(d) (d) The chairperson of the investment board or his or her designee.

15.185(5)(e) (e) The president of the technical college system board or his or her designee.

15.185(5)(f) (f) Six other members, appointed for 4-year terms.

15.185(7) (7) Office of credit unions.

15.185(7)(a) (a) Office of credit unions; creation. There is created an office of credit unions which is attached to the department of financial institutions under s. 15.03. The director shall be appointed by the governor to serve at the pleasure of the governor. No person may be appointed director who has not had at least 3 years of actual experience either in the operation of a credit union, or serving in a credit union supervisory capacity, or a combination of both. Notwithstanding s. 15.03, all personnel and budget requests by the office of credit unions shall be processed and forwarded by the department of financial institutions without change except as requested and concurred in by the office of credit unions.

15.185(7)(b) (b) Credit union review board. There is created in the office of credit unions a credit union review board consisting of 5 persons, appointed for staggered 5-year terms. All members shall have at least 5 years’ experience in the operations of a credit union. The office of credit unions may call special meetings of the review board.

15.185(8) (8) Remote notary council.

15.185(8)(a) (a) There is created a remote notary council which is attached to the department of financial institutions under s. 15.03.

15.185(8)(b) (b) The council shall be composed of the following members appointed for 3-year terms:

15.185(8)(b)1. 1. One member who represents an association of title insurance companies.

15.185(8)(b)2. 2. One member who represents attorneys who practice real estate law.