reglab/housing_qa huggingface dataset:
WI Stat § 224.93 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 224 - Miscellaneous banking and financial institutions provisions.|224.93 - License approval.

224.93  License approval. After a review of information regarding the directors, officers and controlling persons of the applicant for a license, a review of the applicant's business plan, including at least three years of detailed financial projections and other information considered relevant by the division, the division may approve an application for a license if the division determines that all of the following conditions are met: (1) The applicant has at least $500,000 in capital and the amount of capital is adequate for the applicant to transact business as a nondepository lender. (2) Each director, officer and person in control of the applicant is of good character and sound financial standing; the directors and officers of the applicant are competent to perform their functions with respect to the applicant and the directors and officers of the applicant are collectively adequate to manage the business of the applicant as a nondepository lender. (3) The business plan of the applicant will be honestly and efficiently conducted in accordance with the intent and purpose of this subchapter. (4) The proposed activity of the applicant possesses a reasonable prospect for success. (5) The applicant has paid to the division the application fee prescribed by the division, together with the actual cost incurred by the division in investigating the application.History:  1999 a. 9.
WI Stat § 224.935 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 224 - Miscellaneous banking and financial institutions provisions.|224.935 - Expiration of license.

224.935  Expiration of license. (1) Generally. Except as provided under sub. (2), a license issued under this subchapter expires on the June 30 following the date on which the license was issued. (2)  Change in control of licensee. A change in the identity or number of individuals that are in control of a licensee terminates the licensee's license under this subchapter, unless the licensee applies to the division for and receives a renewal of the license no later than 15 days after the change in control.History:  1999 a. 9.
WI Stat § 224.94 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 224 - Miscellaneous banking and financial institutions provisions.|224.94 - Renewal of license.

224.94  Renewal of license. Except as provided under s. 224.935 (2), a licensee shall renew its license by submitting to the division a renewal application and the renewal fee as prescribed by the division not less than 60 days before the date on which the license expires. A renewal application is subject to the same criteria as the criteria for approval of an original license.History:  1999 a. 9.
WI Stat § 224.96 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 224 - Miscellaneous banking and financial institutions provisions.|224.96 - Required loan loss reserve.

224.96  Required loan loss reserve. Each licensee shall provide for a loan loss reserve sufficient to cover projected loan losses that are not guaranteed by the U.S. government or any agency of the U.S. government.History:  1999 a. 9.
WI Stat § 224.97 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 224 - Miscellaneous banking and financial institutions provisions.|224.97 - Division review of nondepository lender operations.

224.97  Division review of nondepository lender operations. The division may, at any reasonable time, examine the books of account, records, condition and affairs of a nondepository lender licensed under this subchapter. The division shall examine the books of account, records, condition and affairs of every nondepository lender licensed under this subchapter at least once during every 12 month period. The division shall prepare a report of each examination conducted under this section. As part of an examination under this section or as part of the preparation of an examination report, the division may examine under oath any person in control, officer, director, agent, employee or customer of the nondepository lender. The division may require a nondepository lender that is examined under this section to pay to the division a reasonable fee for the costs of conducting the examination.History:  1999 a. 9.
WI Stat § 224.98 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 224 - Miscellaneous banking and financial institutions provisions.|224.98 - Powers of licensee.

224.98  Powers of licensee. A licensee may do any of the following: (1) Participate in the loan guaranty program under 15 USC 636 (a). (2) Participate in any other government program for which the licensee is eligible and which has as its function the provision or facilitation of financing or management assistance to business firms.History:  1999 a. 9.
WI Stat § 224.985 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 224 - Miscellaneous banking and financial institutions provisions.|224.985 - Required records and reports.

224.985  Required records and reports. (1) Record keeping. A licensee shall keep books, accounts, and other records in such a form and manner as required by rule of the division. These records shall be kept at a location and shall be preserved for a length of time as prescribed by rule of the division. (2)  Annual report. Not more than 90 days after the close of a licensee's fiscal year or upon request of the division, every licensee shall file with the division a report containing all of the following:(a) Financial statements, including the balance sheet, the statement of income or loss, the statement of changes in capital accounts and the statement of changes in financial position of the licensee. The licensee shall ensure that the financial statements have been audited by an independent certified public accountant and prepared in accordance with generally accepted account principles.(b) Other relevant information requested by the division.History:  1999 a. 9, 185.
WI Stat § 224.99 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 224 - Miscellaneous banking and financial institutions provisions.|224.99 - Rule making.

224.99  Rule making. The division may promulgate rules for the efficient administration of this subchapter.History:  1999 a. 9.
WI Stat § 225.01 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 225 - Business development credit corporations.|225.01 - Incorporators.

225.01  Incorporators. Five or more natural persons of the age of 18 years or more may act as incorporators by signing, acknowledging and filing articles of incorporation for such corporation.History:  1971 c. 213 s. 5; 1981 c. 337.
WI Stat § 225.02 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 225 - Business development credit corporations.|225.02 - Purposes.

225.02  Purposes. Corporations may be organized under this chapter to promote, assist, encourage and through the cooperative efforts of the institutions and corporations which are members thereof, develop and advance the business prosperity and economy of the state to encourage new industries and to rehabilitate existing industries in the state; to promote and stimulate the expansion of Wisconsin business ventures which tend to increase the growth and thrift of the state; to cooperate and act in conjunction with other organizations, the objects of which are the promotion of industrial, agricultural and recreational developments within the state and to lend to approved and deserving applicants money for the carrying on and development of all kinds of business undertakings in the state, thereby establishing a medium of credit not otherwise readily available therefor; and in furtherance of such purposes and in addition to the powers conferred by the general laws relating to business corporations, any such corporation shall, subject to the restrictions and limitations herein contained, have the following powers: (1) To borrow money on secured or unsecured notes from any bank, savings bank, savings and loan association, trust company or insurer which is a nonstockholder member of the corporation and from other nonmember persons, firms or corporations; and to pledge bonds, notes and other securities as collateral therefor. (2) To make secured or unsecured loans; but it is not the intention hereof to take from the lending institutions within the state any loans or commitments desired by such institutions generally in the ordinary course of their business. (3) To establish and regulate the terms and conditions of any such loans and the charges for interest or service connected therewith. (4) To purchase, hold, lease and otherwise acquire and to convey such real and personal estate as it may acquire in the satisfaction of debts, or pursuant to the terms and conditions of loans, or which it acquires in the foreclosure of mortgages thereon, or upon judgments for debt or in settlements to secure debts. (5) To promote the establishment of local industrial development corporations in the various communities of the state, to enter into agreements with them, and to cooperate with, assist and otherwise encourage such local foundations. (6) To participate with any duly authorized federal lending agency in the making of loans.History:  1979 c. 102 s. 236 (3); 1991 a. 221.
WI Stat § 225.03 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 225 - Business development credit corporations.|225.03 - Capital stock.

225.03  Capital stock. At least 25 percent of the capital stock authorized in the articles of incorporation shall be paid into the treasury of the corporation in cash before the corporation shall be authorized to transact any business other than such as relates to its organization. At least a majority of the common stock shall at all times be held by residents of this state or by persons, firms or corporations engaged in doing business therein. Common stock shall at all times be held by stockholder members who have their residences or principal places of business in not less than 36 counties in this state. History:  2009 a. 177.
WI Stat § 225.04 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 225 - Business development credit corporations.|225.04 - Directors.

225.04  Directors. The corporate powers of any such corporation shall be exercised by a board of directors. The number of directors and their term of office shall be determined in a manner prescribed in the bylaws. At no time shall there be less than 5 directors. The initial board of directors shall consist of the incorporators and they shall serve until the first annual meeting. The first annual meeting shall occur at a date to be fixed by the board of directors as soon as reasonably possible after a minimum of 25 percent of the capital stock of the corporation is paid into its treasury and a minimum of 10 stockholder members of the corporation have qualified as provided in s. 225.05; and such annual meeting and subsequent annual meetings shall be called and the directors shall be elected in the manner provided in the bylaws. History:  2009 a. 177.
WI Stat § 225.05 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 225 - Business development credit corporations.|225.05 - Members; limitation and apportionment of loans by members; withdrawal.

225.05  Members; limitation and apportionment of loans by members; withdrawal. There shall be 2 classes of members in the corporation with voting rights specified in the articles of incorporation. (1) Stockholder members include individuals, corporations and organizations who qualify by the purchase of common stock. (2) Nonstockholder members include banks, savings banks, savings and loan associations, trust companies and insurers who qualify by making application to lend funds to the corporation upon call.(a) Each nonstockholder member shall establish a line of credit to the corporation as determined in the articles of incorporation.(b) All calls of funds which nonstockholder members are committed to lend to the corporation shall be prorated by the corporation among the nonstockholder members in the same proportion that the individual lines of credit bear to the aggregate line of credit.(c) Upon written notice given 60 days in advance, a nonstockholder member of the corporation may withdraw from such membership at the expiration date of such notice and after said expiration date shall cease to exercise any of the powers and privileges incidental to such membership and shall be free of any obligations in connection therewith except those obligations which have accrued or for which commitments have been made before said expiration date.(d) Nonstockholder members do not assume any liability for the debts of the corporation.(e) Nonstockholder members shall not share in any surplus of the corporation in excess of the obligations due such nonstockholder members.(f) Upon dissolution of a corporation organized under this chapter, obligations due the nonstockholder members are to be paid in full before any payments are made to the stockholder members.History:  1979 c. 102 s. 236 (4); 1991 a. 221.
WI Stat § 225.06 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 225 - Business development credit corporations.|225.06 - Finance.

225.06  Finance. Any such corporation shall set apart as a surplus not less than 10 percent of its net earnings each year until such surplus, with any unimpaired surplus paid in, shall amount to one-half of the capital stock. The surplus shall be kept to secure against losses and contingencies, and whenever it becomes impaired it shall be reimbursed in the manner provided for its accumulation. History:  2009 a. 177.
WI Stat § 225.07 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 225 - Business development credit corporations.|225.07 - Loans.

225.07  Loans. The corporation shall lend money only when credit is not elsewhere readily available. Before granting any loan, the board of directors or a committee thereof shall endeavor, so far as is reasonably possible, to ascertain that the first opportunity to grant such loan has been given to lending institutions which may desire such loans generally in the course of their business.
WI Stat § 225.08 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 225 - Business development credit corporations.|225.08 - Application of chapter 180.

225.08  Application of chapter 180. The provisions of ch. 180 shall apply to corporations incorporated under this chapter, insofar as they may be applicable and not inconsistent with this chapter.
WI Stat § 225.09 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 225 - Business development credit corporations.|225.09 - Legal investments.

225.09  Legal investments. Notwithstanding any other statute, the notes or other interest-bearing obligations of any corporation organized under this chapter, issued in accordance with this chapter and the articles of incorporation and bylaws of the corporation shall be legal investments for the banks, savings banks, savings and loan associations and trust companies who become members of the corporation.History:  1979 c. 279; 1991 a. 221.
WI Stat § 226.01 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 226 - Foreign corporations.|226.01 - Definition.

226.01  Definition. In this chapter “foreign corporation" means all corporations, associations and joint stock companies organized otherwise than under the laws of this state, except railroad corporations, associations created solely for religious or charitable purposes, insurers, motor clubs, building and loan associations and corporations not organized or conducted for profit.History:  1979 c. 102.
WI Stat § 226.025 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 226 - Foreign corporations.|226.025 - Qualification of foreign utility holding companies; exceptions.

226.025  Qualification of foreign utility holding companies; exceptions. (1) Within the meaning of this chapter, every foreign corporation shall be deemed to be doing business within the state if, directly or indirectly, through agents, trustees or any other means, it furnishes to any affiliated public utility for use in intrastate operations in this state, any of the following:(a) Any managerial, supervisory, engineering, legal, accounting, or financial service.(b) Any equipment, facilities, or commodities, by sale, lease, exchange, conveyance, license, or similar arrangement.NOTE:  Sub. (1) (intro.), (a), and (b) are shown as renumbered from sub. (1) by the legislative reference bureau under s. 13.92 (1) (bm) 2. Punctuation and capitalization were modified under s. 35.17. (2) Within the meaning of this section the term “affiliated" shall have the same meaning as the term “affiliated interests" as defined in s. 196.52 (1). Provided, however, that the mere ownership of stock and receipt of dividends thereon shall not constitute doing business. This section shall not have the effect of imposing upon the corporation described in s. 196.52 (1) a duty to pay fees. The provisions of this section shall apply to interstate commerce only so far as the constitution and laws of the United States permit. (3) The appointment of the department of financial institutions or the designation of a resident agent as attorney for the service of summons, notice, pleadings or process under s. 180.1507 shall be applicable only to actions or proceedings against the foreign corporations described in this section (unless such corporations have been admitted to this state for purposes other than those mentioned in this section) where the cause of action or proceeding arises out of transactions between such foreign corporations and public utilities operating in this state with which such foreign corporations are affiliated; and to actions or proceedings by or before the public service commission or office of the commissioner of railroads involving the transactions described in sub. (1), or involving the relation between such foreign corporations and public utilities operating in this state with which they are affiliated.History:  1977 c. 29; 1981 c. 347 s. 80 (2); 1981 c. 390, 391; 1989 a. 303; 1993 a. 16, 123; 1995 a. 27; s. 13.92 (1) (bm) 2.; s. 35.17 correction in (1) (intro.), (a), and (b).
WI Stat § 226.05 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 226 - Foreign corporations.|226.05 - Bank deposits by nonresidents, taxation evidence.

226.05  Bank deposits by nonresidents, taxation evidence. The making and maintaining of deposits and checking or other accounts by a nonresident of this state or by a foreign corporation in any bank, either state or national, or in any trust company in this state, shall not be considered as doing business or acquiring, holding or disposing of property in this state, nor considered a factor in determining whether such person or corporation is doing business in this state, or in determining the situs of the property or income of such corporation or person for taxation purposes.
WI Stat § 226.12 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 226 - Foreign corporations.|226.12 - Liability of inactive foreign corporation.

226.12  Liability of inactive foreign corporation. An action for the recovery of money may be commenced and prosecuted against a foreign corporation although such corporation may have ceased to act as a corporation in the same manner as though it had not so ceased to act; and the judgment may be enforced against property in this state which such corporation has any interest in or would have an interest in had the same not ceased to act as aforesaid, whether held or controlled by it or by a trustee, assignee, agent or other person for the use and benefit in whole or in part of such corporation or the creditors thereof or both.Since a corporation's existence and capacity to be sued is governed by the state of incorporation or where it is certified to do business, this section cannot apply when a corporation has not been certified to do business in Wisconsin and has no assets here. Bazan v. Kux Machine Co. 52 Wis. 2d 325, 190 N.W.2d 521 (1971).
WI Stat § 226.13 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 226 - Foreign corporations.|226.13 - Plaintiff's lien.

226.13  Plaintiff's lien. The plaintiff shall, to the extent of the final judgment, have a lien upon all the property and interests of the foreign corporation from the time of the filing of the complaint in the action, unless the foreign corporation files with the clerk an undertaking, in double the amount claimed to be due to the plaintiff, executed by 2 or more sureties in the corporation's behalf, resident freeholders of this state, to the effect that the corporation will satisfy the final judgment that may be recovered in favor of the plaintiff in the action within 60 days from the date the judgment is rendered. The undertaking is of no effect unless accompanied by the affidavit of the sureties under s. 808.07. If the foreign corporation notifies the court and plaintiff of an intent to file an undertaking, and the amount of money sought by the plaintiff was excluded from the demand for judgment, as required under s. 802.02 (1m), the court shall require the plaintiff to specify the amount of money claimed and provide that information to the court and to the other parties.History:  Sup. Ct. Order, 67 Wis. 2d 585, 775 (1975); 1977 c. 187 s. 135; 1987 a. 256.
WI Stat § 227.02 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 227 - Administrative procedure and review.|227.02 - Compliance with other statutes.

227.02  Compliance with other statutes. Compliance with this chapter does not eliminate the necessity of complying with a procedure required by another statute.History:  1985 a. 182.Chapter 227 contemplates the limited use of civil procedure statutes that do not conflict with ch. 227. Wagner v. State Medical Examining Board, 181 Wis. 2d 633, 511 N.W.2d 874 (1994).