reglab/housing_qa huggingface dataset:
WI Stat § 214.18 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.18 - Standards for disapproval.

214.18  Standards for disapproval. The division may disapprove any action under s. 214.165 if the division finds any of the following: (1) Considering the financial and managerial resources and future prospects of the applicant and of the in-state savings bank or in-state savings bank holding company concerned, the action would be contrary to the best interests of the stockholders or customers of the in-state savings bank or in-state savings bank holding company. (2) The action would be detrimental to the safety and soundness of the applicant or of the in-state savings bank or in-state savings bank holding company concerned, or to a subsidiary or affiliate of the applicant or of the in-state savings bank or in-state savings bank holding company. (3) Because the applicant, its executive officers, directors or principal stockholders have not established a record of sound performance, efficient management, financial responsibility and integrity, the action would be contrary to the best interest of the depositors, customers, creditors or stockholders of the applicant or of the in-state savings bank or in-state savings bank holding company or contrary to the best interests of the public. (4) The applicant has failed to provide adequate and appropriate services required by the community reinvestment act of 1977, 12 USC 2901 to 2906, to the communities in which the applicant is located. (5) The applicant has failed to propose to provide adequate and appropriate services required by the community reinvestment act of 1977, 12 USC 2901 to 2906, in the community in which the in-state savings bank which the applicant proposes to acquire or in-state savings bank holding company which the applicant proposes to acquire or merge with is located. (6) The applicant has failed to enter into an agreement prepared by the division to comply with laws and rules of this state regulating consumer credit finance charges and of the charges and related disclosure requirements, except to the extent preempted by federal law or regulation. (7) Any condition under s. 214.17 (1), (3), (4), (5) or (6) has not been met. (8) The applicant fails to meet any other standard established by rule of the division.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.185 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.185 - Exceptions.

214.185  Exceptions. (1) This subchapter does not prohibit a regional institution or regional holding company from acquiring up to 5 percent of the voting shares of one or more in-state savings banks or savings bank holding companies. (2) This subchapter does not prohibit an in-state savings bank or savings bank holding company from acquiring up to 5 percent of the voting shares of one or more regional savings banks or savings bank holding companies.History:  1991 a. 221.
WI Stat § 214.19 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.19 - Branching not limited.

214.19  Branching not limited. This subchapter does not limit the authority to establish branch offices under s. 214.06.History:  1991 a. 221.
WI Stat § 214.195 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.195 - Subchapter severability.

214.195  Subchapter severability. (1) Except as provided in sub. (2), if any part of ss. 214.15 to 214.18 is held to be unconstitutional, then all of ss. 214.15 to 214.18 shall be invalid. (2) If any part of ss. 214.15 to 214.18 is held to be unconstitutional with respect to a savings bank holding company, ss. 214.15 to 214.18 shall remain in effect with respect to in-state savings banks and regional institutions.History:  1991 a. 221.
WI Stat § 214.20 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.20 - Divestiture.

214.20  Divestiture. A savings bank holding company that ceases to be an in-state savings bank holding company or regional holding company shall immediately notify the division of the change in its status and shall, as soon as practical and no later than 2 years after the event causing it to no longer be one of these entities, divest itself of control of all in-state savings banks and in-state savings bank holding companies. A savings bank holding company that fails to immediately notify the division shall be subject to a forfeiture of $500 per day, beginning on the day its status changes and ending on the day the division receives notification.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.24 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.24 - Application for permission to organize.

214.24  Application for permission to organize. (1) An adult resident of this state may, with the approval of the division, organize a savings bank. (2) For stock savings banks, the division shall determine the minimum required capital which shall be at least the minimum required to obtain insurance of accounts from a deposit insurance corporation and may include additional amounts as the division may require, based on rules promulgated by the division. (3) For mutual savings banks, the division shall determine the aggregate minimum amount of funds to be paid into the savings bank's deposit accounts by persons subscribing for deposit accounts and the length of time for which the incorporators shall guarantee payment of savings bank operating expenses. The minimum amount of capital required shall be at least the minimum required to obtain insurance of the accounts from a deposit insurance corporation and may include additional amounts as the division may require, based on rules promulgated by the division. (4) An incorporator shall submit a nonrefundable $1,000 application fee with an application.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.245 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.245 - Content of application to organize.

214.245  Content of application to organize. The incorporators shall file an application for a certificate to organize a savings bank on forms prescribed by the division. The application shall include any information the division considers necessary but shall include at least all of the following: (1) The name, address, social security number, date of birth, place of birth, business address, home address and occupation of each incorporator. (3) The name of the proposed savings bank. (4) The address of the home office and branch offices, if known, of the proposed savings bank. The application shall include information about any real estate interests of an incorporator if that real estate may be involved with any of these locations. (5) The anticipated duration of the proposed savings bank, which may be perpetual. (6) An audited financial statement of each incorporator. (7) The proposed articles of incorporation and bylaws. (8) The number of shares of capital stock; the number of shares and classes of preferred stock, if any; the number of shares to be sold; and the per share initial offering price of each share. (9) The total amount and number of the initial deposit accounts. (10) The names and addresses of the initial directors.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.25 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.25 - Articles of incorporation.

214.25  Articles of incorporation. (1) The division shall approve the articles of incorporation of a savings bank. (2) Duplicate originals of the articles of incorporation executed by the incorporators, and any subsequent amendments to the articles that are adopted by the members or stockholders of the savings bank shall be filed with and approved by the division. (3) Upon their approval by the division, articles of incorporation and amendments to the articles shall be recorded in the office of the register of deeds in the county in which the home office of the savings bank is located. (4) Amendments to the articles of incorporation may be made at any annual or special meeting of the members or stockholders called for that purpose, provided that a statement of the nature of the proposed amendment is included in the notice of meeting. The proposed amendment shall be adopted if it receives the affirmative vote of a majority of all votes entitled to be cast. (5) The effective date of the articles of incorporation and amendments to the articles shall be the date of recording in the office of the register of deeds or a later date if the document provides for a different date. The register of deeds shall forward a certificate of recording to the division.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.255 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.255 - Bylaws.

214.255  Bylaws. (1) The division shall approve the bylaws of a savings bank. (2) Duplicate originals of the bylaws and any subsequent amendments to the bylaws shall be filed with and approved by the division. (3) The effective date of the bylaws and amendments to the bylaws shall be the date on which they are approved by the division or a later date if the document provides for a different date. (4) A savings bank shall furnish a copy of its bylaws to any member or stockholder upon request. (5) The bylaws of the savings bank may be amended as prescribed in the bylaws.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.265 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.265 - Temporary organization and capital subscriptions.

214.265  Temporary organization and capital subscriptions. (1) (a) If the division approves an application to organize, the division shall issue to the incorporators a certificate of authority to effect a temporary organization.(b) Under a temporary organization, the incorporators shall do all of the following:1. Elect directors and a chairperson, secretary and treasurer.2. Conduct meetings.3. If a stock savings bank open subscription books for the sale of stock.4. Open subscription books for deposit accounts. (2) During the temporary organization, incorporators of a savings bank may exercise such other powers as are conferred upon the incorporators of other corporations, if those powers are not in conflict with this chapter. (3) The incorporators of a savings bank shall obtain a surety bond in a suitable amount that covers the treasurer and other officers who may handle funds of the temporary organization. (4) If a stock savings bank, the officers and directors shall secure subscriptions for capital in the form of pledges to purchase stock. (5) The directors shall prepare articles of incorporation, bylaws, and other documents and items as required by rule of the division. (6) The directors shall apply for insurance of accounts with a deposit insurance corporation and provide the division with a copy of each filing and additional documents filed or received in connection with the filing. (7) The officers and directors may take any other actions necessary to complete organization. (8) If a stock savings bank, the officers and directors shall furnish the division with the names and addresses of all investors who subscribe to purchase stock. (9) No business, other than that of completing the organization of the proposed savings bank, may be transacted until the division issues certificate of incorporation. (10) A temporary certificate of authority issued under sub. (1) (a) shall be effective for 180 days after the date issued. The division may, for cause, extend the effective period of the certificate for such time as the division considers to be advisable.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.27 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.27 - Completion of organization.

214.27  Completion of organization. (1) In addition to the organization requirements of this subchapter, the division may require additional assurances, information, capital or agreements from the officers, directors or employees of the savings bank. If the requirements of this subchapter, rules promulgated under this subchapter, federal law and the division's requests are completed, the incorporators shall provide the division with a certificate of compliance in a form prescribed by the division, together with a $500 fee. (2) Within 90 days after receipt of the certificate of compliance and receipt of all required fees, the division shall issue a certificate of incorporation authorizing the savings bank to commence business. The certificate of incorporation shall specify the date of the corporate existence of the savings bank. (3) The division shall terminate the corporate existence and void the articles of incorporation and certificate of incorporation of a savings bank if the savings bank fails to commence business within 6 months after the date on the certificate of incorporation. The division may, in writing, extend the time period to commence business for such time as the division considers to be advisable.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.275 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.275 - Appeal of denial.

214.275  Appeal of denial. If the division does not grant a certificate of organization, the incorporators may appeal to the review board to review the determination.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.30 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.30 - Membership.

214.30  Membership. (1) (a) A holder of a deposit account issued by a mutual savings bank shall be a member of the mutual savings bank. Joint ownership of an account constitutes one membership.(b) A member has the right to share in the net profit of a mutual savings bank, after payment of creditors, if the savings bank liquidates. This right does not permit a member to claim a share of net profits absent a liquidation and does not permit a member to seek liquidation except in any manner permitted by the mutual savings bank's articles of incorporation or bylaws. (2) An owner of stock in a stock savings bank shall be an owner of the stock savings bank. Joint ownership of stock constitutes one ownership.History:  1991 a. 221; 1995 a. 103.
WI Stat § 214.305 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.305 - Annual and special meetings.

214.305  Annual and special meetings. The date of the annual meeting of members or stockholders shall be specified in the bylaws. Failure to hold an annual meeting may not cause a dissolution of the savings bank. Special meetings may be called by the board of directors, by stockholders of not less than 20 percent of the outstanding stock, by members constituting not less than 20 percent of the eligible votes or by any other person designated in the bylaws. The division may call a special meeting with not less than 7 days' written or oral notice. An annual or special meeting shall be held at the home office of the savings bank or at another place within a county in which the savings bank maintains an office if specifically designated in the notice of the meeting.History:  1991 a. 221; 1995 a. 27, 103.
WI Stat § 214.31 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.31 - Notice of meetings.

214.31  Notice of meetings. (1) Notice of an annual meeting shall be provided not fewer than 10 days nor more than 40 days before the date of the meeting in the manner provided in the bylaws. The notice shall be displayed at each office of the savings bank in a manner prescribed by rule of the division. The notice shall state the time, place and purpose of the meeting. (2) For a special meeting or for an annual meeting that is to consider any proposition that requires an affirmative vote of two-thirds of the members or stockholders, the notice shall be provided to each member or stockholder by mail, postmarked between 10 and 40 days before the date of the meeting, and shall be displayed at each of the savings bank's offices as if for an annual meeting, beginning on the date notice is given. The notice shall state the time, place and purpose of the meeting.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.315 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.315 - Quorum for annual or special meetings.

214.315  Quorum for annual or special meetings. The articles of incorporation may specify a quorum requirement, but that requirement may not be less than one-third of the total number of votes entitled to vote at a meeting. A meeting, including one at which a quorum is not present, may be adjourned to a specified date without future notice.History:  1991 a. 221.
WI Stat § 214.32 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.32 - Voting.

214.32  Voting. (1) A member or stockholder may vote at a meeting in person or by proxy. (2) To determine who is entitled to vote and the number of outstanding shares, the following rules apply:(a) The date of determination shall be the record date for voting under s. 214.325.(b) A person holding one or more deposit accounts in a mutual savings bank shall have one vote for each $100 of the aggregate withdrawal value of the deposit accounts and one vote for any fraction of $100.(c) A stockholder shall have one vote for each share held.(d) Stock owned by the savings bank may not be counted or voted.(e) A stock savings bank shall state in its articles of incorporation that voting rights shall be vested exclusively in stockholders.History:  1991 a. 221.
WI Stat § 214.325 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.325 - Record date for voting and other purposes.

214.325  Record date for voting and other purposes. (1) To determine the stockholders or members entitled to notice of or to vote at any meeting or in order to make a determination of members, stockholders, or other persons for any other purpose, the bylaws may provide for a record date, not fewer than 10 days nor more than 60 days before the meeting or other event or transaction with regard to which the determination is to be made. The determination shall be made as of the close of business on the record date. (2) If the bylaws do not provide for a record date, the board of directors may fix a record date for each determination to be made within the time limits under sub. (1). If the board of directors fails to fix a record date, the record date for a meeting shall be the date on which the first notice of meeting is given. (3) Stock sold or deposit accounts withdrawn after the record date may not be voted or counted in determining the number of shares outstanding.History:  1991 a. 221.
WI Stat § 214.33 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.33 - Proxies.

214.33  Proxies. (1) A proxy may be executed in writing by a member or stockholder or by the member's or stockholder's authorized representative. (2) A proxy is not valid in any of the following circumstances:(a) Eleven months after the date of its execution, unless otherwise provided in the proxy.(b) Unless executed in an instrument separate from other forms or documents relating to the member's deposit accounts.(c) For any meeting at which the member or stockholder who gave a proxy is present, provided that before the taking of any vote, notice of the member's or stockholder's attendance and intention to vote at the meeting is given by that person to an official whom the savings bank shall identify at the meeting as having responsibility for maintaining a record of attendance.History:  1991 a. 221; 1995 a. 103.
WI Stat § 214.335 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.335 - Directors.

214.335  Directors. The business and affairs of the savings bank shall be exercised by its board of directors. The board of directors may consist of the number of directors fixed by the bylaws, but may not be fewer than 5. At least two-thirds of the directors shall be residents of this state. A director shall have a fiduciary relationship with the savings bank.History:  1991 a. 221.
WI Stat § 214.34 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.34 - Bonds of officers and directors.

214.34  Bonds of officers and directors. (1) Every person appointed or elected to any position requiring the receipt, payment, management or use of savings bank money, or whose duties permit or require access to or custody of savings bank money or securities, or whose duties permit the regular making of entries in the books or other records of the savings bank, shall be bonded by a trust or company authorized to issue bonds in this state or by a fidelity insurance company licensed to do business in this state. A bond shall be in a form prescribed by the division and in an amount fixed by the board of directors. A bond shall be payable to the savings bank to indemnify the savings bank for any loss the savings bank may sustain through any dishonest or criminal act or omission by the bonded person, whether committed alone or in concert with others. A bond shall provide that cancellation of the bond by the surety or by the insured is not effective before 30 days' written notice is given to the division, unless the division approves an earlier cancellation. (2) Notwithstanding sub. (1), the division may proceed against a savings bank if the division believes that the business of the savings bank is being conducted in an unsafe or unsound manner or that the form or amount of bonds approved by the board of directors is inadequate to give reasonable protection to the savings bank.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.342 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.342 - Officers.

214.342  Officers. The officers of a savings bank shall be elected by the board of directors in accordance with the bylaws. The officers shall consist of a president, one or more vice-president, a secretary, a treasurer and any other officer the board designates by resolution. Officers shall have the duties and functions described in the articles of incorporation and bylaws and shall perform other duties that are designated by the board of directors.History:  1991 a. 221.
WI Stat § 214.375 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.375 - Closing books.

214.375  Closing books. A savings bank shall close its books at least once annually and at such other times as the division may require. The date of the annual closing may be March 31, June 30, September 30 or December 31 or as otherwise provided by rule of the division.History:  1991 a. 221; 1995 a. 27.
WI Stat § 214.40 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 214 - Savings banks.|214.40 - Minimum capital.

214.40  Minimum capital. (1) A savings bank may be organized to exercise the powers conferred by this chapter with minimum capital, surplus and reserves for operating expenses as determined by the division. The division may not establish requirements for savings banks at a level less than that required for insurance of accounts. For a savings bank other than one resulting from the conversion from an existing financial institution, the division may establish capital requirements at least as stringent as those required under s. 214.43 (1). (2) A stock savings bank may not commence business until it has a paid-in surplus equal to 20 percent of its capital. The division may waive this requirement for a financial institution that converts to a savings bank. (3) A stock financial institution seeking to convert to a savings bank under s. 214.66 (1m) shall, before declaring a dividend on its capital stock, transfer not less than 50 percent of its net profits of the preceding half year to its paid-in surplus until it has paid-in surplus equal to 20 percent of capital stock. History:  1991 a. 221; 1995 a. 27; 2011 a. 32.