reglab/housing_qa huggingface dataset:
WI Stat § 214.715 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.715 - Powers of the division.

214.715  Powers of the division. (1) The division shall do all of the following:(a) Supervise and control savings banks and savings bank holding companies.(b) Employ persons necessary to administer this chapter.(c) Exercise the rights, powers and duties under this chapter or any related chapter.(d) Promulgate rules.(e) Submit an annual report to the governor and the legislature regarding the work of the division under this chapter.(f) Commence an action to enforce any law of this state that applies to savings banks, service corporations, savings bank subsidiaries, affiliates or savings bank holding companies, including the enforcement of any obligation of the officers, directors, agents or employees of these entities.(g) Prescribe a uniform manner for maintaining the books and records of a savings bank.(h) Establish a reasonable fee structure, subject to approval of the review board, for savings banks and savings bank holding companies and for their service corporations and subsidiaries. The fees may include annual fees, application fees, regular and special examination fees and other fees that relate to the division's responsibilities under this chapter and that are directly attributable to the entities operating under this chapter. The division may assess, bill and collect fees established under this paragraph. The amounts collected by the division shall be used for the expenses of the division. (2) Employees of the division may not be subject to any civil liability or penalty, or to any criminal prosecution, for any error in judgment or discretion made in good faith and upon reasonable grounds in any action taken or omitted by the employee in an official capacity. (3) If it appears to the division that a savings bank is conducting its business in violation of this chapter, the division may report the facts to the department of justice which may bring an action to revoke the certificate of incorporation of the savings bank. (4) A savings bank that intends to move its home office or a branch office shall make an application to the division. In approving or denying the application for relocation, the division shall determine the need for relocation and determine whether undue harm or injury would be caused to any savings bank doing business in the area or vicinity of the proposed relocation.History:  1991 a. 221; 1995 a. 27; 1997 a. 144.
WI Stat § 214.72 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.72 - Prohibited business relationships.

214.72  Prohibited business relationships. (1) In this section:(a) “Business relationship" means a financial interaction with a savings bank, including obtaining and renegotiating a loan; maintaining a deposit account or escrow account; obtaining and using a credit card; being a trustee or beneficiary of an estate or trust held by the savings bank; and renting a safe deposit box.(am) “Department" means the department of financial institutions.(b) “Financial regulator" means the department secretary and deputy secretary, and an administrator, a supervisor of data processing, legal counsel and a financial institution examiner employed by the department and includes any member of a financial regulator's immediate family, as defined in s. 19.42 (7). (2) (a) A financial regulator may not request, accept or enter into a business relationship with a savings bank unless the business relationship is in the savings bank's ordinary course of business, is negotiated at arms' length and the terms are no more favorable than those available to members of the general public in like circumstances.(b) A financial regulator may not be an officer, director, employee or agent of a savings bank.(c) A financial regulator may not voluntarily acquire equity securities in a savings bank or a savings bank holding company. A financial regulator shall transfer equity securities which he or she owns within 90 days after commencement of employment as a financial regulator or within 90 days after acquiring ownership by inheritance or gift.(d) Notwithstanding par. (a), a financial regulator may not obtain a new loan from or renegotiate, refinance, renew, extend or modify an existing loan with a savings bank. A financial regulator may exercise contract rights under an existing variable rate, escalator or balloon-type mortgage. A financial regulator is not required to terminate a loan existing at the time he or she becomes a financial regulator. (3) Within 30 days after commencing employment as a financial regulator and at least once each year, each financial regulator, for himself or herself and covering his or her immediate family, shall complete a written, sworn report disclosing the nature of all business relationships with savings banks on forms prescribed by the department. Each report shall be reviewed by the department, except that the secretary's and deputy secretary's report shall be reviewed by the review board. The reviewers shall determine if any business relationship is or appears improper and, if so, may direct the termination of that business relationship within a reasonable, prescribed time period.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.735 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.735 - Examination report.

214.735  Examination report. Upon completion of an examination, the division shall provide an examination report to the board of directors of the savings bank or other entity examined. Each director shall read the report and shall sign an affidavit affirming that the director has read and understands the report. The affidavits shall be retained by the savings bank or entity examined and may be examined by the division.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.74 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.74 - Orders of the division.

214.74  Orders of the division. (1) If the affairs of the savings bank, savings bank subsidiary, service corporation or affiliate or savings bank holding company are not being conducted in accordance with this chapter, the division may require the directors, officers and employees to take necessary corrective action. If the necessary corrective action is not taken, the division may issue an order to the directors of the entity, to be served personally or by certified mail, specifying a date for the performance of the corrective action. (2) If the order contains a finding that the business of the savings bank or savings bank holding company is being conducted in a fraudulent, illegal, unsafe or unsound manner or that the violation or the continuance of the practice to be corrected may cause insolvency, substantial dissipation of assets or earnings or the impairment of capital, the savings bank or savings bank holding company shall comply with the order immediately, unless the order is modified or withdrawn by the division or modified or terminated by a court. Notwithstanding sub. (3), the division may apply to the circuit court in the county in which the home office of the savings bank or savings bank holding company is located for enforcement of an order. (3) If a hearing before the review board has not been requested within 20 days after service of an order, the division may, at any time within 90 days after the date specified in the order for an action to be taken or discontinued, commence an action in the circuit court of the county in which the home office of the savings bank or savings bank holding company is located to compel the directors, officers or employees to take required corrective action. If a hearing is requested pursuant to s. 214.78, the division may institute suit within 90 days after a determination by the review board. (4) This section is in addition to the enforcement authority of the division under subch. XII.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.745 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.745 - Division's notice to members or stockholders.

214.745  Division's notice to members or stockholders. The division may prepare a statement of the condition of the savings bank, affiliate, savings bank subsidiary, service corporation or savings bank holding company and may mail the statement to the members or stockholders or may publish the statement as a class 1 notice under ch. 985. The expense of a mailing or publication shall be paid by the savings bank, affiliate, savings bank subsidiary, service corporation or savings bank holding company.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.75 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.75 - Record keeping and retention.

214.75  Record keeping and retention. (1) A savings bank shall maintain books and records, as required by the division, in accordance with generally accepted accounting principles and the requirements of its deposit insurance corporation. All books and records shall be current, complete, organized and accessible to the division's agents and examiners and to the savings bank's auditors and accountants. (2) A savings bank employing an outside data processing service shall inform the division at the initiation, renewal or changing of a contract for data processing services with an outside data processing service. The contract shall be submitted to the division at least 60 days before its implementation. The contract shall provide that the records maintained shall at all times be available for examination and audit by the division. A savings bank shall implement internal control and security measures for its data processing activities. (3) The division may examine any data processing center that provides data processing or related services to a savings bank as often as the division examines the savings bank it serves. (4) The division shall by rule prescribe standards by which savings banks must retain records and may destroy those records. Liability may not accrue against the savings bank, the division or this state for destruction of records according to rules of the division promulgated under this subsection. In an action in which records of the savings bank may be called in question or demanded, a showing of compliance with the division's standards shall be sufficient to excuse any inability to produce the records.  (5) (a) A savings bank may cause records kept by the savings bank to be recorded, copied or reproduced by any photostatic, photographic or miniature photographic process or by optical imaging if the process employed correctly, accurately and permanently copies, reproduces or forms a medium for copying, reproducing or recording the original record on a film or other durable material. A savings bank may thereafter dispose of the original record. This subsection is applicable to federal savings banks if it does not contravene federal law.(b) Any photographic, photostatic, or miniature photographic copy or reproduction or copy reproduced from a film record or any copy of a record generated by optical disc storage of a savings bank record shall be considered to be an original record for all purposes and shall be treated as an original record in all courts or administrative agencies for the purpose of its admissibility in evidence. A facsimile, exemplification, or certified copy of a photographic copy or reproduction, copy reproduced from a film record, or copy generated from optical disc storage of a record shall, for all purposes, be considered to be a facsimile, exemplification, or certified copy of the original record. History:  1991 a. 221, 280; 1995 a. 27; 2013 a. 277; 2015 a. 196.
WI Stat § 214.755 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.755 - Disclosure of examination reports and other records.

214.755  Disclosure of examination reports and other records. (1) Employees of the division and members of the review board may not disclose information gathered by examination of or obtained through reports from a savings bank or from a state or federal financial institution regulatory authority except to any of the following:(a) Directors, officers or employees of the savings bank if required to administer this chapter.(b) A state or federal financial institution regulatory authority if the regulatory authority agrees to keep the information confidential.(c) A court, or law enforcement or prosecutorial agencies for use in investigating or prosecuting a crime involving that information.(d) The savings bank's independent certified public accountants.(e) The savings bank's deposit insurance corporation.(f) A federal home loan bank if the federal home loan bank agrees to keep the information confidential. (1m) The officers or employees of a savings bank may not disclose the contents of an examination report except to any of the following:(a) A court, or law enforcement or prosecutorial agencies for use in investigating or prosecuting a crime involving the contents of the report.(b) The savings bank's attorneys, independent certified public accountants or other professional advisers.(c) The savings bank's deposit insurance corporation. (2) An individual who violates sub. (1) or (1m) shall forfeit his or her office or position.History:  1991 a. 221; 1995 a. 27, 103; 2017 a. 340.
WI Stat § 214.76 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.76 - Annual audit requirement.

214.76  Annual audit requirement. (1) Except as provided in sub. (2), the board of directors of a savings bank shall hire a certified public accountant licensed or certified under ch. 442 or other qualified person to conduct a comprehensive annual audit of the records, accounts, and affairs of the savings bank. (2) The board of directors of a savings bank may appoint an auditing committee of one or more capable persons to annually audit the records, accounts, and cash of the savings bank and to verify customer accounts. Verification procedures shall be conducted according to the savings bank's auditing program or the rules of the division. (3) Audit reports under this section shall be submitted to the savings bank's board of directors and retained as records of the savings bank.History:  1991 a. 221, 315; 1995 a. 27, 325; 2001 a. 16; 2011 a. 182.
WI Stat § 214.765 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.765 - Unsafe and unsound practices; orders of prohibition and removal.

214.765  Unsafe and unsound practices; orders of prohibition and removal. (1) A violation of subch. VI or VII or s. 214.34, 214.59 or 214.76, or the failure to comply with recommendations of an examination report of the division within 60 days after the date of issuance of the report or within any other period the division specifies, shall be considered an unsafe and unsound practice and creates an unsafe and unsound condition in the savings bank. A savings bank or a person affiliated with a savings bank who violates these provisions shall be subject to a forfeiture under s. 214.935 and to other enforcement powers of the division under this subchapter, subch. XII and rules of the division. (2) Continued violation of any provision in sub. (1) after the division issues an order to correct shall subject the members of the board of directors of the savings bank to removal from the board and to a permanent order of prohibition under s. 214.91. (3) The division shall promulgate rules to implement this section.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.775 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.775 - Procedure upon the impairment of capital.

214.775  Procedure upon the impairment of capital. If the division finds from a report, examination or other source that a savings bank's capital is impaired, the division may do any of the following: (1) Direct the board of directors to do any of the following:(a) Require stockholders to contribute an amount at least sufficient to eliminate the impairment.(b) Reduce the amount of additional paid-in capital by at least the amount of the impairment and allocate the reduction to undivided profits or reserves to absorb the loss that created the impairment. (2) Take custody of the savings bank under subch. XI, establish a conservatorship and proceed to merge, sell or otherwise dispose of the savings bank in a manner that will remove the capital impairment, remove operating losses and restore compliance with capital requirements. (3) Declare the stock worthless and order the directors to cancel the stock or order the directors to sell, merge or otherwise restructure the savings bank in a manner that will remove the capital impairment, eliminate operating losses and restore compliance with capital requirements.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.78 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.78 - Review board.

214.78  Review board. (1) The review board shall do all of the following:(a) Advise the division on matters related to this chapter.(b) Review the acts, orders and determinations of the division.(c) Act on matters pertaining to this chapter that may be submitted to it by the division.(d) Perform other review functions relating to this chapter.(e) Conduct hearings and take testimony, and subpoena and swear witnesses at such hearings. The review board shall have the subpoena powers under s. 885.01 (4). (2) An interested party may appear at a proceeding of the review board and may participate in the examination of witnesses and present evidence. (3) A person who subpoenaes a witness shall advance the fees and mileage of the witness. Witness fees shall be the same as fees under s. 814.67 (1) (b) and (c). The fees of witnesses who are called by the review board in the interests of the state shall be paid by the state upon presentation of proper vouchers approved by the chairperson of the review board and charged to the appropriation under s. 20.144 (1) (g).History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.785 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.785 - Review of acts, orders or determinations.

214.785  Review of acts, orders or determinations. (1) Any interested person or a savings bank aggrieved by any act, order or determination of the division, which relates to savings banks may, within 20 days after receipt or service of a copy of the act, order or determination, file a written notice requesting the review board's review of the division's act, order or determination. The sole review of the division's decision shall be to determine if the division acted within the scope of the division's authority, has not acted in an arbitrary or capricious manner and that the act, order or determination of the division is supported by substantial evidence in view of the entire record as submitted. The review of applications for new savings banks, branch offices or relocation of offices shall be based exclusively on the record and new evidence may not be taken by the review board. Applications under this subsection shall be considered and disposed of as speedily as possible. (2) A determination of the review board shall be subject to review under ch. 227. If an act, order or determination of the division is reversed or modified by the review board, the division shall be considered to be a person aggrieved and directly affected by the decision under s. 227.53 (1). (3) A member of the review board may not act on any matter involving a savings bank or savings bank holding company of which the member is an officer, director, employee or agent.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.825 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.825 - Purposes of taking custody.

214.825  Purposes of taking custody. The purposes of taking custody of a savings bank may include examination; production of an audit report or audited financial statement; reconstruction of books and records; conservation of assets; restoration of impaired capital; the making of any necessary or equitable adjustment, including changes in officers and management, considered necessary by the division under any plan of reorganization or liquidation; restructuring of the savings bank through a merger or formation of an interim institution; establishment of a conservatorship to operate and manage a savings bank as an ongoing concern until the grounds for custody and conservatorship are remedied; or the maturing of an obligation of the deposit insurance corporation.History:  1991 a. 221; 1995 a. 27; 1997 a. 35; 2011 a. 182.
WI Stat § 214.83 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.83 - Division's powers during custody.

214.83  Division's powers during custody. During the period in which the division has custody of a savings bank, the division shall have all powers necessary to accomplish the purposes of custody of the savings bank and the authority to call meetings of the members, stockholders, former officers and directors, liquidators or trustees to consider and act upon matters considered by the division to be of sufficient importance to obtain the views of those persons.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.835 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.835 - Custody of savings banks.

214.835  Custody of savings banks. If the division takes custody of a savings bank, in addition to powers conferred under ss. 214.825 and 214.83, the division may do any of the following: (1) Notify the deposit insurance corporation of the custody and the reasons for that action, including a copy of the division's report of examination and condition of the savings bank, and to appoint the deposit insurance corporation or its designee as receiver or conservator for the savings bank. (2) Permit the deposit insurance corporation to submit any plan or proposal for the reorganization, merger or liquidation of the savings bank that it considers to be feasible. (3) Determine and declare the savings bank to be in default, find from the division's examination and from reports of the savings bank the amount of insured deposits and make any necessary orders that may be required for the purpose of making deposit insurance available to depositors.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.84 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.84 - Notice of custody; action to enjoin.

214.84  Notice of custody; action to enjoin. On the date the division takes custody of a savings bank, the division shall provide by 1st class mail a written notice of that action to the president or secretary and to 2 or more directors of the savings bank or to 2 or more of the trustees of any trust or to 2 or more of the liquidators if the savings bank is in liquidation. If the parties receiving notice believe the division does not have authority to take custody, the savings bank, the directors or officers of the savings bank or the trustees or liquidators, within 20 days after the mailing of the notice, or within further periods of time as the division may extend up to an additional 60 days, may file a complaint in the circuit court of the county in which the savings bank is located to enjoin custody. The court shall require the division to show cause why custody should not be enjoined. If, upon hearing, the court finds that grounds do not exist for the division's custody, it may enter an order enjoining further custody.History:  1991 a. 221; 1995 a. 27.