reglab/housing_qa huggingface dataset:
WI Stat § 221.0308 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0308 - Benefits under federal law; Federal Deposit Insurance Corporation.

221.0308  Benefits under federal law; Federal Deposit Insurance Corporation. A bank may, by action of its board of directors, enter into such contracts, incur such obligations and perform such acts as may be necessary or appropriate in order to take advantage of any and all memberships, loans, subscriptions, contracts, grants, rights or privileges that may at any time be available or inure to banking institutions or to their depositors, creditors, shareholders, conservators, receivers or liquidators, by virtue of any federal law establishing the Federal Deposit Insurance Corporation; providing for the insurance of deposits; or regulating or safeguarding banking institutions and their depositors. A bank may also subscribe for and acquire any stock, debenture, bond or other type of security of the Federal Deposit Insurance Corporation. A bank that becomes a member of the Federal Deposit Insurance Corporation shall comply with the lawful regulations and requirements issued by the Federal Deposit Insurance Corporation. The bank and its directors, officers and shareholders shall continue to be subject to all liabilities and duties imposed upon them by any laws of this state.History:  1995 a. 336.
WI Stat § 221.0309 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0309 - Investments in international banking and financial institutions.

221.0309  Investments in international banking and financial institutions. A bank may, with the approval of the division, invest an amount not exceeding in the aggregate 15 percent of its capital in one or more corporations principally engaged in international or foreign banking, or banking in dependencies or insular possessions of the United States, organized pursuant to 12 USC 611 to 631. A bank may also invest, with the approval of the division, an amount not exceeding in the aggregate 10 percent of its capital in the stock of one or more corporations principally engaged in international or foreign financial operations other than banking, as well as such financial operations in dependencies or insular possessions of the United States, organized pursuant to 12 USC 611 to 631.History:  1995 a. 336.
WI Stat § 221.0310 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0310 - Federal National Mortgage Association.

221.0310  Federal National Mortgage Association. A bank that has loans secured by real estate mortgages may, with the approval of the division, sell all or any portion of the loans to the Federal National Mortgage Association, or any successor to that association. In connection with this sale of loans, the bank may make payments of any required capital contributions in the nature of subscriptions for stock of the Federal National Mortgage Association or any successor to that association, may receive stock evidencing these capital contributions and may hold or dispose of this stock.History:  1995 a. 336.
WI Stat § 221.0311 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0311 - Investments in agricultural credit corporations.

221.0311  Investments in agricultural credit corporations. A bank may invest, with the approval of the division, in an agricultural credit corporation. Unless a bank owns at least 80 percent of the stock of the agricultural credit corporation, the amount invested by the bank may not exceed 20 percent of the bank's capital.History:  1995 a. 336.
WI Stat § 221.0312 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0312 - Investments in development companies.

221.0312  Investments in development companies. A bank is authorized to invest, in an amount not to exceed in the aggregate 5 percent of its capital, in shares of the Wisconsin Development Credit Corporation and in shares of small business investment companies located in this state.History:  1995 a. 336.
WI Stat § 221.0313 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0313 - Information to division; stock holdings.

221.0313  Information to division; stock holdings. A bank that invests in the capital stock of other banks or of corporations as provided in this chapter shall furnish information concerning the condition of the other banks or corporations to the division upon demand. If the division determines that the bank is not complying with rules of the division regarding these investments, the division may institute an investigation of the bank's investments. If the investigation establishes a violation of division rules regarding permissible investments, the division may require the bank to dispose of its investment in the other bank or corporation, upon reasonable notice.History:  1995 a. 336.
WI Stat § 221.0314 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0314 - Sale of U.S. bonds.

221.0314  Sale of U.S. bonds. A bank may, by resolution of its board of directors authorizing such action, act as agent for the U.S. treasury or other instrumentality of the United States in connection with the sale of bonds or other obligations of the United States or an instrumentality of the United States, if designated as agent by the secretary of the U.S. treasury or by the other instrumentality. A bank may enter into contracts, incur obligations, make investments, pledge assets or take other actions if necessary or appropriate in order to act as agent under this section. A bank may exercise powers granted under this section only upon express approval previously granted by the division, and only in such manner and to such extent as the division may approve, and with such limitations upon the exercise of those powers as the division may impose.History:  1995 a. 336.
WI Stat § 221.0315 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0315 - Insurance activities.

221.0315  Insurance activities. (1) Insurance intermediary activities permitted. A bank, or an officer or salaried employee of a bank, may obtain a license as an insurance intermediary, if otherwise qualified. (2)  Insurance underwriting prohibited. A bank may not, directly or through a subsidiary, engage in the business of underwriting insurance.History:  1995 a. 336.
WI Stat § 221.0317 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0317 - Securitization of assets.

221.0317  Securitization of assets. A bank may, with the approval of the division, securitize its assets for sale to the public in accordance with the rules which shall be promulgated by the division under this section.History:  1995 a. 336.
WI Stat § 221.0318 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0318 - Notes and debentures.

221.0318  Notes and debentures. (1) Issuance. A bank may, by the action of its board of directors, issue and sell its notes or debentures of one or more classes in the amount, in the form and with the maturity determined by the board. The notes and debentures may confer such rights and privileges upon the holders of the notes and debentures as determined by the board. (2)  Limitation on issuance. A bank may issue notes and debentures if the amount issued is within limits previously established by the division for issuances by the bank. (3)  Status as capital of bank. Notes and debentures issued by a bank constitute capital of the bank, only if approved by the division. (4)  Retirement of notes and debentures. Before a bank may retire or pay notes or debentures, any existing deficiency of the bank's capital, disregarding the notes and debentures to be retired, must be paid in cash or in assets acceptable to the division, so that the sound capital assets of the bank shall at least equal the capital stock of the bank. (5)  Liability for assessment. A bank's notes or debentures are not subject to any assessment. The holders of these notes or debentures are not liable for the debts, contracts or engagements of the bank or for assessments to restore impairments in the capital of the bank.History:  1995 a. 336.
WI Stat § 221.0319 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0319 - Real estate.

221.0319  Real estate. (1) Purposes for which real estate may be held. A bank may purchase, lease, hold and convey only the following types of real estate:(a) Real estate necessary for the convenient transaction of its business, including facilities connected with the office, furniture, equipment and fixtures. A bank may include with its banking offices, other facilities to rent as a source of income. A bank may also invest in the stocks, bonds or obligations of a bank building corporation. A bank's investment under this paragraph or its liability for it may not exceed in the aggregate 60 percent of the bank's capital.(b) Real estate conveyed to the bank in satisfaction of debts previously contracted in the course of the bank's business.(c) Real estate purchased at sale on judgments, decrees or mortgage foreclosures under securities held by the bank, but a bank may not bid at a sale a larger amount than is necessary to satisfy its debts and costs.(d) Subject to the approval of the division, real estate purchased and held for the purpose of providing needed housing accommodations for its essential employees who are relocated by the bank, including purchasing the former residence of the relocated, essential employee.(e) Real estate acquired or held for such other purposes as may be approved by the division, subject to s. 221.0321. (2)  Time limitation. Real estate acquired under sub. (1) (b), (c) or (d) may not be held for more than 5 years, unless an extension is granted by the division. If an application for an extension is denied, the real estate must be sold at a private or public sale within one year after the denial of the application. This section does not prevent a bank from lending money secured by real estate as provided by law. Real estate may be conveyed under the signature of an officer of the bank. (3)  Holding companies. Subject to sub. (1) (a), a bank may convey real estate to an entity engaged solely in holding property of the bank, to a bank holding company, as defined in 12 USC 1841 (a), of which the bank is a subsidiary or to any other subsidiary of that bank holding company. A liability of the entity holding property of the bank, bank holding company or subsidiary of the bank holding company to the bank that results from a conveyance under this subsection is not subject to the limitation under s. 221.0320 (1).History:  1995 a. 336.
WI Stat § 221.0322 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0322 - Additional banking authority.

221.0322  Additional banking authority. (1) Other permitted activities or powers. Subject to any regulatory approval required by law and subject to sub. (2) and s. 221.0315 (2), a bank, directly or through a subsidiary of the bank, may undertake any activity, exercise any power or offer any financially related product or service in this state that any other provider of financial products or services may undertake, exercise or provide or that the division finds to be financially related. (2)  Division rules. The activities, powers, products and services that may be undertaken, exercised or offered by banks under sub. (1) are limited to those specified by rule of the division and, with respect to loans under s. 221.0321 (1) and investments under s. 221.0321 (2), are subject to the limitations set forth in s. 221.0321. The division may direct any bank to cease any activity, the exercise of any power or the offering of any product or service authorized by rule under this subsection. Among the factors that the division may consider in so directing a bank are the bank's capital, assets, management and liquidity ratio, and capital ratio.History:  1995 a. 336.
WI Stat § 221.0323 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0323 - Bank purchase of its own stock.

221.0323  Bank purchase of its own stock. (1) In general. A bank may be the holder or purchaser of not more than 10 percent of its capital stock, capital notes or debentures, except as provided in sub. (2). (2)  Debts previously contracted. A bank may be the holder or purchaser of more than 10 percent of its capital stock, capital notes or debentures if the purchase is necessary to prevent loss upon a debt previously contracted in good faith. Stock, notes or debentures purchased under this subsection may not be held by the bank for more than 6 months if the stock, notes or debentures can be sold for the amount of the claim of the bank against the same, and they must be sold for the best price obtainable within one year, or they shall be canceled, and shall then amount to a reduction of the capital stock, capital notes or debentures. If the reduction reduces the capital stock below the minimum required by law, the bank's capital stock must be increased to the amount required by law. (3)  Use as security. A bank may not loan any part of its capital, surplus or deposits on the capital stock, capital notes or debentures of its own bank as collateral security. (4)  Status of treasury shares. Treasury shares are issued shares but not outstanding shares. All shares acquired by a bank after July 1, 1996, constitute treasury shares unless any of the following conditions exists:(a) The articles of incorporation prohibit treasury shares.(b) The board of directors, by resolution, cancels the acquired shares, in which event the shares are restored to the status of authorized but unissued shares. (5)  Prohibition in articles of incorporation. If the articles of incorporation prohibit treasury shares, all of its own shares acquired by the bank shall be restored to the status of authorized but unissued shares. (6)  Saving clause. Treasury shares existing on July 1, 1996, remain treasury shares until disposed of, canceled or restored to the status of authorized but unissued shares by action of the board of directors or shareholders.History:  1995 a. 336.
WI Stat § 221.0325 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0325 - Certified checks.

221.0325  Certified checks. An officer, employee or agent of a bank may not certify a check, draft or order drawn upon the bank unless the person, firm or corporation drawing the check, draft or order has on deposit with the bank at the time the check, draft or order is certified an amount of money equal to the amount specified in the check, draft or order. A check, draft or order so certified by the duly authorized officer, employee or agent is a valid obligation against the bank.History:  1995 a. 336.
WI Stat § 221.0326 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0326 - Bad debts.

221.0326  Bad debts. All debts due a bank, on which interest is past due and unpaid for a period of 12 months, shall be considered bad debts and shall be charged off to the profit and loss account at the expiration of one year from the date on which the debt became past due, unless the debts are well secured or in process of collection.History:  1995 a. 336.
WI Stat § 221.0327 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0327 - Surplus fund.

221.0327  Surplus fund. (1) Charges to surplus account. A loss sustained by a bank in excess of its undivided profits may be charged to its surplus account, if its surplus fund is thereafter reimbursed from its earnings. Cash dividends on capital stock may not be declared or paid by the bank in excess of 50 percent of its net earnings until its surplus fund is fully restored to the amount that was in the surplus account immediately preceding the charge of the loss. (2)  Reimbursement of surplus and restricted dividends. If the surplus fund of a bank is in excess of 100 percent of its capital stock and if losses charged against it do not reduce the surplus account to an amount less than 100 percent of its capital stock, the bank is not subject to sub. (1) with respect to reimbursement of the surplus account and with respect to restricted dividends on capital stock.History:  1995 a. 336.
WI Stat § 221.0328 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0328 - Dividends.

221.0328  Dividends. (1) When permitted. Except as provided in sub. (2), the board of directors of a bank may declare and pay a dividend from its undivided profits in an amount they consider expedient. The board of directors shall provide for the payment of all expenses, losses, required reserves, taxes, and interest accrued or due from the bank before the declaration of dividends from undivided profits. If dividends declared and paid in either of the 2 immediately preceding years exceeded net income for either of those 2 years respectively, the bank may not declare or pay any dividend in the current year that exceeds year-to-date net income except with the written consent of the division. (2)  Liability of shareholders. A bank's dividends may not in any way impair or diminish the capital of the bank other than by reducing undivided profits. If a dividend is paid that does not comply with this section, every shareholder receiving the dividend is liable to restore the full amount of the dividend unless the capital is subsequently made good. (3)  Liability of directors. If the board of directors of a bank pays dividends when the bank is insolvent or in danger of insolvency, or not having reason to believe that there were sufficient undivided profits to pay the dividends, the members of the board of directors are jointly and severally liable to the creditors of the bank at the time of declaring dividends in an amount equal to twice the amount of the dividends. (4)  Reduction of capital. Subject to the approval of the division, and subject to ss. 221.0211 (4) and 221.0323 (1) and (2), a bank may, by a vote of shareholders owning, in the aggregate, at least two-thirds of its capital stock, reduce its capital. Notwithstanding sub. (2) and subject to ss. 221.0216 (5) and 221.0327, as part of its capital reduction plan approved by the division in accordance with this subsection, and with the affirmative vote of shareholders owning at least two-thirds of the shares of each class of its stock outstanding, a bank may distribute cash or other assets to its shareholders.History:  1995 a. 336; 2017 a. 340.
WI Stat § 221.0329 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0329 - Savings promotion prize programs.

221.0329  Savings promotion prize programs. (1) In this section:(a) “Nonqualifying account" means a savings, time, or money market account that is not a qualifying account.(b) “Qualifying account" means a savings, time, or money market account through which a bank's depositors may obtain chances to win prizes in a savings promotion.(c) “Savings promotion" means a contest or promotion to encourage savings deposits that is sponsored by one or more banks, or by a banking trade association or its subsidiary in conjunction with one or more banks, and in which bank depositors are offered a chance to win designated prizes. (2) A bank may sponsor, or participate in, a savings promotion if all of the following requirements are satisfied:(a) Bank depositors are not required to pay any fee or otherwise provide any consideration in order to enter the savings promotion.(b) All fees charged by a bank in connection with a qualifying account are comparable with all fees charged in connection with comparable nonqualifying accounts offered by the bank.(c) Each entry in the savings promotion has an equal chance of winning.(d) Participants in the savings promotion are not required to be present at a prize drawing in order to win. (3) For purposes of sub. (2) (a), a depositor's deposit of at least a specified amount of money for at least a specified time in a qualifying account, which is required in order to enter the savings promotion, is not consideration if the interest rate associated with the qualifying account is not reduced, as compared to comparable nonqualifying accounts offered by the bank, to account for the possibility of winning a prize.History:  2017 a. 72.
WI Stat § 221.0401 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0401 - State bank.

221.0401  State bank. Every bank incorporated under this chapter shall be known as a state bank.History:  1995 a. 336.
WI Stat § 221.0402 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0402 - Use of “bank".

221.0402  Use of “bank". (1) Use of “bank". Except as provided in sub. (2), a person who is engaged in business in this state, who is not subject to supervision and examination by the division, and who is not required to make reports to the division under this chapter, may not use the term “bank", in any form upon any office sign at the place where the business is transacted. Except as provided in sub. (2), the person may not use or circulate letterheads, billheads, blank notes, blank receipts, certificates, circulars, or any written or printed or partly written and partly printed paper, containing an artificial or corporate name, or other words, that indicates that the person's business is the business of a bank. (2)  Exceptions. (a) A check sold by a bank chartered under the laws of another state or a foreign country or a national bank authorized to do business in another state may use any form of “bank", if the bank is licensed under ch. 217.(b) Mortgage bankers licensed under s. 224.72 may use the designation “mortgage banker".(c) A savings bank organized under ch. 214 may use the designation “savings bank". (3)  Enforcement. Violations of this section may be enforced by the division under s. 220.02 (2).History:  1995 a. 336; 1997 a. 35; 2009 a. 2.
WI Stat § 221.0403 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 221 - State banks.|221.0403 - Bank names.

221.0403  Bank names. (1) In general. Except as provided in subs. (2) and (3), the name of a bank must be approved by the division and must be distinguishable upon the records of the division from all of the following names:(a) The name of another state bank organized under this chapter.(b) The name of a national bank or foreign bank authorized to transact business in this state. (2)  Exceptions. A bank may apply to the division for the authority to use a name that is not distinguishable upon the records of the division from one or more of the names described in sub. (1). The division may authorize the use of the name if any of the following occurs:(a) The other bank consents to the use in writing and submits an undertaking, in a form satisfactory to the division, to change its name to a name that is distinguishable upon the records of the division from the name of the applicant.(b) The applicant delivers to the division a certified copy of the final judgment of a court of competent jurisdiction establishing the applicant's right to use the name applied for in this state. (3)  Use of same name. A bank may use the name that is used in this state by another bank organized under this chapter or authorized to transact business in this state if the bank proposing to use the name has done any of the following:(a) Merged with the other bank.(b) Been formed by reorganization of the other bank.(c) Acquired all or substantially all of the assets, including the name, of the other bank. (4)  Use of “savings". A bank name may not contain the word “savings".History:  1995 a. 336.