reglab/statecodes huggingface dataset:
2023 Wisconsin Statutes & Annotations › Chapter 218 - Finance companies, auto dealers, adjustment companies and collection agencies. › 218.52 - Purchases from motor vehicle salvage pools.

218.52
Purchases from motor vehicle salvage pools.
(1)
No person may purchase or submit a bid for the purchase of a motor vehicle from a motor vehicle salvage pool unless the following conditions are satisfied:
(a)
The person is a cardholder and the person's buyer identification card has not been suspended or revoked.
(b)
The person displays his or her valid buyer identification card to the salvage pool and includes his or her buyer identification number on each sheet of any bid submitted to a motor vehicle salvage pool for the purchase of a motor vehicle or other document evidencing the purchase of a motor vehicle from a motor vehicle salvage pool.
(2)
No motor vehicle salvage pool may accept a bid for the purchase of a motor vehicle or complete the sales transaction unless the person who submits the bid or offers to purchase a motor vehicle from the motor vehicle salvage pool satisfies the conditions under sub. (1) (b) and the motor vehicle salvage pool verifies that the buyer identification number displayed on the person's buyer identification card and included on each sheet of that person's bid or other document evidencing the purchase of a motor vehicle are identical.
(3)
For each motor vehicle sold by a motor vehicle salvage pool, the motor vehicle salvage pool shall enter on the certificate of title, or on the form or in the automated format used to reassign the title, any information that the department requires to indicate that ownership of the vehicle was transferred by a motor vehicle salvage pool.
(4)
Section 342.157 applies to motor vehicles sold by a motor vehicle salvage pool under this section.
History:  1987 a. 349; 1993 a. 159; 1997 a. 27.
2023 Wisconsin Statutes & Annotations › Chapter 218 - Finance companies, auto dealers, adjustment companies and collection agencies. › 218.53 - Penalties.

218.53
Penalties.
Any person who violates this subchapter shall be fined not less than $1,000 nor more than $10,000 and may be imprisoned for not more than 90 days or both.
History:  1987 a. 349.
2023 Wisconsin Statutes & Annotations › Chapter 219 - Investments. › 219.01 - Loans, advances of credit, investment in securities, insured or guaranteed by specified agencies.

219.01
Loans, advances of credit, investment in securities, insured or guaranteed by specified agencies.
Credit unions, savings and loan associations, investment associations, state banks, savings banks, trust company banks, land mortgage associations, personal representatives, guardians, trustees, and other fiduciaries, except where it is contrary to the will or other instrument of trust, the state and its agencies and its municipalities, districts, and other subdivisions, and all institutions and agencies of the state, and all other persons, associations, and corporations, subject to the laws of this state, are authorized:
(1)
To make such loans and advances of credit and purchases of obligations representing loans and advances of credit as are insured by the federal housing administrator, and to obtain such insurance.
(2)
To make such loans, secured by real property or leasehold, as the federal housing administrator insures or makes a commitment to insure, and to obtain such insurance.
(3)
To invest their funds, and moneys in their custody or possession that are eligible for investment and which they are by law permitted or required to invest, in notes or bonds secured by mortgage or trust deed insured by the federal housing administrator, and in debentures issued by the federal housing administrator, and in securities issued by national mortgage associations.
(4)
To invest their funds and moneys in their custody or possession that are eligible for investment and that they are by law permitted or required to invest, in notes, bonds or other forms of evidence of indebtedness guaranteed by the U.S. department of veterans affairs or otherwise guaranteed or secured under the servicemen's readjustment act of 1944, P.L. 78-346, as amended.
(5)
To make loans and to sell, buy, or otherwise invest in notes, bonds, or other instruments evidencing loans secured by mortgages insured, or with respect to which commitments to insure have been made under Title I of the Bankhead-Jones Farm Tenant Act (7 USC 1000 et seq.) as heretofore or hereafter amended. Restrictions of any character imposed by the laws of Wisconsin with respect to location of the real estate security shall not be applicable to loans or investments so secured by mortgages under Title I of said act.
History:  1971 c. 260; 1989 a. 56; 1999 a. 83; 2001 a. 102.
2023 Wisconsin Statutes & Annotations › Chapter 219 - Investments. › 219.02 - Securities eligible for investment may be used as collateral.

219.02
Securities eligible for investment may be used as collateral.
Wherever, by statute of this state, collateral is required as security for the deposit of public or other funds; or deposits are required to be made with any public official or department; or an investment of capital or surplus, or a reserve or other fund, is required to be maintained consisting of designated securities, notes and bonds insured and debentures issued by the federal housing administrator and obligations of national mortgage associations shall be eligible for such purposes.
2023 Wisconsin Statutes & Annotations › Chapter 219 - Investments. › 219.03 - Restrictions upon loans, security, interest rates, etc. not applicable.

219.03
Restrictions upon loans, security, interest rates, etc. not applicable.
No law of this state requiring security upon which loans or investments may be made, or limiting the amount of the loan to any stated proportion of the value of the security, or prescribing the nature, amount or form of such security, or prescribing or limiting interest rates upon loans or investments, or prescribing or limiting the period for which loans or investments may be made, or prescribing or limiting periodical installment payments upon loans or securities, or prescribing or limiting the right to buy, sell, have serviced or assign such loans or investments and the security given therefor, shall be deemed to apply to loans or investments made pursuant to this chapter.
2023 Wisconsin Statutes & Annotations › Chapter 219 - Investments. › 219.04 - Investment in state bonds and notes and municipal obligations.

219.04
Investment in state bonds and notes and municipal obligations.
(1)
(a)
The following may invest any sinking, investment, retirement, compensation, pension or trust funds, moneys or other funds belonging to them or within their control without limit in state bonds and notes:
1.
All banks, trust companies, bankers, savings banks and institutions, building and loan associations, savings and loan associations, credit unions, investment companies and other persons or entities carrying on a banking business.
2.
All personal representatives, guardians, trustees, and other fiduciaries.
3.
The state and all public officers, municipal corporations, political subdivisions and public bodies.
(b)
The provisions of par. (a) shall be cumulative to authorizations of investments contained in other statutes, but shall not apply to funds expressly limited by law to specifically enumerated investments not including evidence of indebtedness.
(2)
State bonds or notes or the general obligations of municipalities as defined in s. 67.01 (5) or borrowings of the municipalities under s. 67.12 may be used as:
(a)
Collateral if any statute requires collateral as security for any deposit of funds; or
(b)
An investment if any statute requires investment of capital, surplus, reserve or other funds in designated securities.
History:  1979 c. 279; 1981 c. 80, 391; 1983 a. 189 s. 329 (7); 2001 a. 102.
2023 Wisconsin Statutes & Annotations › Chapter 219 - Investments. › 219.05 - Investment in savings and loan and other institutions.

219.05
Investment in savings and loan and other institutions.
(1)
The investment by any credit unions; or the investment of funds of any state sinking fund, state school fund, fire fighters' relief and pension fund, police pension fund, or other pension fund; or the investment by any savings and loan association; or by a state or federal savings bank; or by any federal savings and loan association; or by any administrative department, board, commissioner or officer of the state, authorized by law to make investments of funds in the custody or under the control of such department, board, commission or officer; or by any guardian, trustee or other fiduciary; or by any school district, technical college district, drainage district, village, city, county or town, in savings accounts in savings and loan associations doing business in this state or in savings banks doing business in this state; or in savings accounts in any other institution within or without the state, to the extent to which such accounts now are, or may hereafter be, insured by the federal deposit insurance corporation, under acts of congress of the United States now in effect or which may hereafter be enacted is lawful.
(2)
The legality of such investment shall not be impugned, whether the person, firm, or corporation or association, board, or commission, making the same be foreign or domestic; or whether such investment be made from capital, reserves, or surplus; or whether made in a fiduciary or other capacity.
History:  1971 c. 154, 260, 307; 1975 c. 180; 1983 a. 242 s. 2; 1991 a. 221; 1993 a. 399.
2023 Wisconsin Statutes & Annotations › Chapter 219 - Investments. › 219.06 - Certain district and authority bonds as legal investments and security.

219.06
Certain district and authority bonds as legal investments and security.
(1)
(a)
Any of the following may legally invest any sinking funds, moneys, or other funds belonging to them or within their control in any bonds or other obligations issued by a metropolitan sewerage district under ss. 200.21 to 200.65 or by a housing authority created by or under the housing authorities law of this state or issued by any public housing authority or agency in the United States, if the bonds or other obligations are secured by a pledge of annual contributions to be paid by the U.S. government or any agency of the U.S. government, by the city, village, town, or county in which the housing authority issuing the bonds or other obligations operates or by the district under s. 200.55 or are guaranteed by the state:
1.
The state and all public officers, municipal corporations, political subdivisions, and public bodies.
2.
All banks, bankers, savings and loan associations, credit unions, trust companies, savings banks and institutions, investment companies, and other persons carrying on a banking business.
3.
All personal representatives, guardians, trustees, and other fiduciaries.
(b)
The bonds and other obligations described in par. (a) shall be authorized security for all public deposits and shall be fully negotiable in this state.
(2)
The purpose of this section is to authorize any of the foregoing to use any funds owned or controlled by them, including but not limited to sinking, investment, retirement, compensation, pension and trust funds, and funds held on deposit, for the purpose of any such bonds or other obligations.
(3)
This section shall apply notwithstanding any restrictions on investments contained in other provisions of the statutes.
(4)
This section does not relieve any person, firm or corporation from the duty of exercising reasonable care in selecting securities.
History:  1971 c. 260; 1981 c. 282; 1993 a. 246; 1999 a. 150 s. 672; 2001 a. 102.
2023 Wisconsin Statutes & Annotations › Chapter 219 - Investments. › 219.07 - Redevelopment authority bonds legal investments and security.

219.07
Redevelopment authority bonds legal investments and security.
(1)
(a)
In this subsection “authorized investor" means:
1.
All banks, trust companies, bankers, savings banks and institutions, building and loan associations, savings and loan associations, credit unions, investment companies, and other persons carrying on a banking business.
2.
All personal representatives, guardians, trustees, and other fiduciaries.
3.
The state and all public officers, municipal corporations, political subdivisions, and public bodies, except those under ch. 604.
(b)
Any authorized investor may legally invest any sinking funds, moneys, or other funds belonging to them or within their control in any bonds or other obligations issued by a redevelopment authority created by s. 66.1333, or issued by any redevelopment authority or urban renewal agency in the United States, when the bonds or other obligations are secured by an agreement between the issuer and the federal government in which the issuer agrees to borrow from the federal government and the federal government agrees to lend to the issuer, prior to the maturity of the bonds or other obligations, moneys in an amount that, together with any other moneys irrevocably committed to the payment of principal and interest on such bonds or other obligations, will suffice to pay the principal of the bonds or other obligations with interest to maturity on the bonds, which moneys under the terms of the agreement are required to be used for the purpose of paying the principal of and the interest on the bonds or other obligations at their maturity.
(2)
The bonds and other obligations described in sub. (1) (b) shall be authorized security for all public deposits.
(3)
It is the purpose of this section to authorize any persons, political subdivisions and officers, public or private, to use any funds owned or controlled by them for the purchase of any bonds described in sub. (1) (b) or other obligations. Nothing contained in this section with regard to legal investments shall be construed as relieving any person of any duty of exercising reasonable care in selecting securities. This section shall apply notwithstanding any restrictions on investments contained in other provisions of the statutes.
History:  1971 c. 260; 1973 c. 336; 1999 a. 83; 1999 a. 150 s. 672; 2001 a. 102.
2023 Wisconsin Statutes & Annotations › Chapter 219 - Investments. › 219.09 - Certain district and authority bonds as legal investments and security.

219.09
Certain district and authority bonds as legal investments and security.
(1)
A bank, trust company, savings bank or institution, savings and loan association, credit union or investment company or a personal representative, guardian, trustee or other fiduciary may legally invest any moneys or funds belonging to or within that person's control in bonds issued by any of the following:
(a)
A local exposition district under subch. II of ch. 229.
(b)
The University of Wisconsin Hospitals and Clinics Authority.
(c)
A local professional baseball park district created under subch. III of ch. 229.
(d)
A local professional football stadium district created under subch. IV of ch. 229.
(f)
Bonds issued by a local cultural arts district under subch. V of ch. 229.
(g)
The Wisconsin Aerospace Authority.
(2)
This section shall not be construed as relieving any person of any duty of exercising any required level of care in selecting securities.
History:  1993 a. 263; 1995 a. 27, 56; 1999 a. 65, 167; 2005 a. 335.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.01 - Definitions.

220.01
Definitions.
As used in chs. 220 to 224:
(1)
Unless the context requires otherwise, the term “bank" means any banking institution incorporated under the laws of this state.
(1e)
“Department" means the department of financial institutions.
(1m)
“Division" means the division of banking.
(2)
The term “lawful money" means all forms of money issued by or under the authority of the United States as a circulating medium, and includes any form of certificate declared to be lawful money by any law of the United States.
History:  1983 a. 189; 1991 a. 221; 1993 a. 213; Stats. 1993 s. 220.01; 1995 a. 27; 1997 a. 191.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.06 - Not to disclose information.

220.06
Not to disclose information.
(1)
In this section, “licensee" means a person licensed by the division under ch. 138, 217 or 218 or under s. 224.72, 224.725, or 224.92.
(1m)
No division employee may examine a bank or licensee in which that person is interested as a stockholder, officer, or employee. No division employee may examine a bank or licensee located in the same village, city, or county with any bank or licensee in which that person is so interested. Employees in the division, and each member and employee of the banking institutions review board, shall keep secret all facts and information obtained in the course of examinations or from reports not under s. 221.1002 (1) filed by a bank or licensee with the division, except so far as the public duty of the person requires reporting upon or taking special action regarding the affairs of any bank or licensee, and except when called as a witness in any criminal proceeding or trial in a court of justice. The division may furnish to the federal deposit insurance corporation, to a federal home loan bank, or to any regulatory authority for state or federal financial institutions, insurance, or securities a copy of any examination made of any such bank or licensee or of any report made by such bank or licensee and may give access to and disclose to the corporation or to any regulatory authority for state or federal financial institutions, insurance, or securities any information possessed by the division, or to a federal home loan bank any information created by the division, with reference to the conditions or affairs of any such insured bank or licensee if the regulatory authority agrees to treat all information received with the same degree of confidentiality as applies to reports of examination that are in the custody of the division.
(2)
If any employee in the division or any member of the banking institutions review board or any employee thereof discloses the name of any debtor of any bank or licensee, or anything relative to the private account or transactions of such bank or licensee, or any fact obtained in the course of any examination of any bank or licensee, except as herein provided, that person is guilty of a Class I felony and shall be subject, upon conviction, to forfeiture of office or position.
(3)
(a)
Examination reports possessed by a bank or licensee are confidential, remain the property of the division and are returnable immediately on request of the division.
(b)
Officers and employees of a bank or licensee may not redisclose information in the examination reports. A person violating this paragraph may be fined not less than $100 nor more than $1,000 or imprisoned not more than 6 months or both.
History:  1977 c. 418; 1979 c. 102; 1983 a. 27; 1985 a. 127, 325; 1987 a. 252; 1995 a. 27, 336; 1997 a. 283; 1999 a. 9; 2001 a. 109; 2005 a. 215; 2009 a. 2; 2017 a. 340; 2019 a. 65.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.065 - Immunity.

220.065
Immunity.
Employees of the division shall not be subject to any civil liability or penalty, nor 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 division in the division's official capacity under the provisions of chs. 220 to 224.
History:  1991 a. 316; 1995 a. 27.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.07 - Banks; impairment of capital.

220.07
Banks; impairment of capital.
(1)
Capital impaired; deficiency. Whenever the division determines that the capital of any bank is impaired or reduced below the amount required by law or the articles of incorporation, or below the amount certified to the division as paid in, the division may require such bank to make good such impairment or deficiency within 60 days after the date of such requisition. In any case, where the capital of a bank becomes impaired or reduced below the amount required by law or the articles of incorporation, the board of directors of such bank may make a proportional assessment upon all of the stock of the bank to make good such deficiency, and may provide that the amount of such deficiency shall be due and payable at a time to be fixed by such board of directors, which time shall be not less than 10 days after notice of the assessment. Notice to stockholders residing in another state shall be given by registered mail and a return receipt demanded. If any stockholder fails or neglects to pay the amount of the assessment against his or her stock for 10 days after the assessment becomes due and payable, the directors of the bank may offer the stock for sale, and sell the stock at public sale upon 10 days' notice to be given by posting copies of the notice of sale in 5 public places in the town, village or city where the bank is located. Upon the sale, the purchaser shall forthwith pay the amount of the assessment against the stock. The amount received from the sale of the stock, less the cost and expenses of the sale, shall be paid to the original owner of the stock.
(2)
Review of order. In any case where the division has made an order requiring capital to be made good, the bank may within 10 days after the making of said order secure a review of same by the banking institutions review board by filing with the division a statement requesting such review and stating the grounds of objection to the order of the division. Said board shall promptly conduct a hearing thereon after affording reasonable notice to the bank and shall affirm, modify, or set aside the order of the division. No such review or hearing shall extend the time for compliance with the order of the division unless the banking institutions review board shall so direct.
History:  1979 c. 110; 1995 a. 27; 2019 a. 65.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.081 - Closed insured banks; federal deposit insurance corporation may be receiver.

220.081
Closed insured banks; federal deposit insurance corporation may be receiver.
(1)
The division may, in the event of the closing of any bank which is a member of the federal deposit insurance corporation or the deposits in which are to any extent insured by said corporation, tender to said corporation the appointment as statutory receiver of such bank and if the corporation accepts said appointment, the corporation shall have and possess all the powers and privileges given by the laws of this state to the division as statutory receiver of a closed bank and be subject to all the duties of the division as such statutory receiver, except insofar as such powers, privileges, or duties are in conflict with the provisions of subsection 1 of section 8 of said banking act of 1933, or any other applicable federal laws.
(2)
In the event said federal deposit insurance corporation shall accept the appointment as such receiver, it is hereby authorized and empowered to be and act without bond as such receiver.
(3)
Upon the acceptance of the appointment as receiver of any delinquent bank by said federal deposit insurance corporation, the possession of and title to all the assets, business and property of such bank of every kind and nature shall pass to and vest in said corporation without the execution of any instruments of conveyance, assignment, transfer or endorsement.
(4)
The division or the federal deposit insurance corporation being in possession of any delinquent bank may, as receiver of such bank and upon the order of the circuit court for the county in which such bank is located, borrow money from the federal deposit insurance corporation and secure the payment of such loan by the mortgage pledge, transfer in trust or hypothecation of any or all of the property and assets of such delinquent bank and upon like order may sell to said federal deposit insurance corporation any or all of the property and assets of such delinquent bank.
History:  1995 a. 27.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.082 - Closed insured banks; subrogation of federal deposit insurance corporation.

220.082
Closed insured banks; subrogation of federal deposit insurance corporation.
Whenever any bank whose deposits are in whole or in part insured pursuant to any federal laws, shall have been closed on account of the inability to meet the demands of its depositors, and the federal deposit insurance corporation or its successors shall pay or make available for payment the insured deposit liabilities of such closed institution, the corporation or its successors, whether or not the same shall have become receiver or liquidator of such closed bank, shall be subrogated to all rights against such closed bank, or the owner of such insured deposits with like force and effect as if the closed bank were a national bank, to the extent now or hereafter necessary to enable said corporation, under federal law, to make insured payments available to depositors of closed insured banks.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.085 - Federal aid to banks.

220.085
Federal aid to banks.
On approval of the banking institutions review board, any state bank or trust company, or the receiver of any insolvent or delinquent state bank or trust company, may take advantage of any act that may be enacted by the congress of the United States for the relief of any state banks or trust companies.
History:  2019 a. 65.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.086 - Receiver of delinquent bank may borrow from federal government agency; court order.

220.086
Receiver of delinquent bank may borrow from federal government agency; court order.
The division, having taken possession of any delinquent bank, may, as receiver of such bank, and upon the order of the circuit court for the county in which such bank is located, borrow money from any agency of the federal government, upon such terms and conditions as may be satisfactory to such federal agency, and issue evidences of indebtedness therefor, and secure the payment of such loan by the mortgage, pledge, transfer in trust, or hypothecation of any or all of the property and assets of such delinquent bank.
History:  1995 a. 27.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.10 - Books and accounts; division's control.

220.10
Books and accounts; division's control.
Whenever it appears to the division that any bank does not keep books and accounts in such manner as to enable the division to readily ascertain the true condition of such bank, the division may require the officers of such bank to open and keep such books or accounts as the division prescribes for the purpose of keeping accurate and convenient records of the transactions and accounts of such bank. Any bank that refuses or neglects to open and keep such books or accounts as the division prescribes shall be subject to a penalty of $10 for each day it neglects and fails to open and keep such prescribed books and accounts.
History:  1991 a. 316; 1995 a. 27.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.12 - Attorney general, duty of.

220.12
Attorney general, duty of.
All proceedings by any bank to enjoin the division in the discharge of the division's duties shall be had in the county where said bank is located, or in the supreme court of this state. All suits and proceedings arising out of the provisions of the banking laws, in which the state, or any of its officers or agents shall be parties, shall be conducted under the direction and supervision of the attorney general.
History:  1991 a. 316; 1995 a. 27.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.14 - Division's report.

220.14
Division's report.
The division shall publish an annual report and submit the report to the governor and the chief clerk of each house of the legislature for distribution to the legislature under s. 13.172 (2). The report shall:
(1)
Exhibit the condition of the various banks of the state as of the day of the last report made to the division by such banks.
(2)
Contain a statement of the condition of every bank from which reports have been received, with an abstract of the whole amount of capital returned by them, the whole amount of their liabilities, the total amount of resources, and specifying the amount of lawful money held by banks at the time of their several returns.
(3)
Give a tabulated statement of the resources and liabilities of each bank.
(4)
Contain a statement of the banks whose business has been closed during the year, the amount of their resources and liabilities, the amount paid to the creditors thereof and a statement of any banks organized during the year.
(5)
Contain a statement of the total number of orders issued by the division during the year under s. 222.0203 (2).
(7)
Give such other information as the division deems necessary.
History:  1977 c. 196 s. 131; 1983 a. 524; 1995 a. 27; 2003 a. 63.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.17 - Effect of consolidating banks and trust companies.

220.17
Effect of consolidating banks and trust companies.
(1)
Whenever 2 or more banks or trust companies, including national banks, authorized to do a banking business in the state of Wisconsin, shall be consolidated under the charter of one of the consolidating banks or trust companies, or under a new charter issued to such consolidated institution, the rights, interests and franchises of any bank or trust company joining in or party to such consolidation in and to every species of property, real, personal and mixed and chooses in action thereto belonging, shall be deemed transferred to and vested in the consolidated bank or trust company without any deed, endorsement or other instrument of transfer, and the consolidated bank or trust company shall take, hold and enjoy the same and all rights of property, franchises and interests in the same manner and to the same extent as were held and enjoyed by such consolidating banks or trust companies or both at the time of such consolidation.
(2)
All of the following apply to a consolidated bank or trust company described in sub. (1), if the consolidated bank or trust company is authorized to perform fiduciary services at the time of the consolidation:
(a)
The consolidated bank or trust company shall succeed to all rights, obligations, relations, and trusts, and the duties and liabilities connected with the performance of fiduciary services, held by any bank or trust company party to the consolidation, and without further appointment shall act as trustee or personal representative or in any other fiduciary capacity in which any bank or trust company party to the consolidation was acting at the time of the consolidation.
(b)
The consolidated bank or trust company shall execute and perform each trust or relation described in par. (a) in the same manner as if the consolidated bank or trust company itself had assumed the trust or relation, including the obligations and liabilities connected therewith.
(c)
The consolidated bank or trust company shall be entitled to be appointed or to act as trustee or personal representative or other fiduciary to the same extent and with the same effect as would any bank or trust company party to the consolidation if prior to the consolidation any bank or trust company party to the consolidation has been designated as trustee or any other fiduciary in any trust deed or other writing, or has been named to act as personal representative in any will.
History:  1983 a. 36; 2001 a. 102.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.18 - Bank or corporate notaries; permitted acts.

220.18
Bank or corporate notaries; permitted acts.
It shall be lawful for any notary public who is a stockholder, director, officer, member, manager or employee of a bank or other corporation or limited liability company to take the acknowledgment of any party to any written instrument executed to or by that entity, or to administer an oath to any other stockholder, director, officer, member, manager, employee or agent of that entity, or to protest for nonacceptance or nonpayment bills of exchange, drafts, checks, notes and other negotiable instruments which may be owned or held for collection by that entity, if such notary is not a party to such instrument, either individually or as a representative of the entity.
History:  1993 a. 112.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.285 - Reproduction and destruction of records; evidence.

220.285
Reproduction and destruction of records; evidence.
(1)
Any state bank, trust company bank, licensee under ss. 138.09, 138.12, 138.14, 218.0101 to 218.0163, 218.02, 218.04, 218.05, 224.72, or 224.725 or ch. 217 may cause any or all records kept by such bank, licensee, or registered person 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 bank may thereafter dispose of the original record. A licensee or registered person may thereafter dispose of the original record after first obtaining the written consent of the division. This section is applicable to national banking associations insofar as it does not contravene federal law.
(2)
Any photographic, photostatic, or miniature photographic copy or reproduction or copy reproduced from a film record or any copy of a record generated from optical disc storage of a bank record or record of a licensee or registered person is 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 any such 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 a facsimile, exemplification, or certified copy of the original record.
History:  1971 c. 239; 1973 c. 3; 1991 a. 39, 221; 1995 a. 27; 1997 a. 152; 1999 a. 31; 2005 a. 215; 2009 a. 2, 405; 2013 a. 277; 2015 a. 196.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.30 - Closing in emergencies.

220.30
Closing in emergencies.
No liability shall be incurred by a bank because the bank is closed during an emergency. If a bank closes during an emergency, the closing shall be noted in the minutes of the next meeting of the bank's board of directors. A bank may not declare in default for nonpayment any obligation which became due while the bank was closed during the emergency if timely payment on the obligation was tendered but not accepted because the bank was closed.
History:  1971 c. 120; 1987 a. 252.
2023 Wisconsin Statutes & Annotations › Chapter 220 - Banking. › 220.32 - Transfer of trust business within bank holding company groups.

220.32
Transfer of trust business within bank holding company groups.
(1)
Definitions. In this section:
(a)
“Corporate fiduciary" means all of the following:
1.
A trust company bank, state bank with trust powers, corporation or limited liability company, that is authorized under the laws of this state to accept and execute trusts.
2.
A national bank or other federally chartered financial institution, if that bank or institution has its principal place of business in this state and is authorized by the appropriate federal agency to accept and execute trusts.
(b)
“Subsidiary" of a bank holding company means any other corporation or limited liability company of which voting stock having a majority of the votes entitled to be cast is owned, directly or indirectly, by the bank holding company.
(c)
“Trust business" includes self-declared trusts that are established and maintained by a corporate fiduciary, such as common trust funds and group trust funds, and all other activities in which a corporate fiduciary is acting as a fiduciary, as defined in s. 112.01 (1) (b), regardless of whether or not a portion of these activities could be undertaken by an entity that is not authorized to accept and execute trusts in this state.
(2)
Transfer to successor fiduciary. If the board of directors of a bank holding company adopt a resolution directing one of its subsidiaries that is a corporate fiduciary to succeed to all or part of the existing or future trust business of another of its subsidiaries that is a corporate fiduciary, the successor corporate fiduciary shall succeed to the predecessor corporate fiduciary. The substitution shall be effective on the date specified in the resolution and no additional authorization is needed. The successor corporate fiduciary shall succeed to all capacities in which the predecessor corporate fiduciary had been acting with respect to the transferred trust business. If, or to the extent that, the resolution directs that one subsidiary shall succeed to future trust business of another subsidiary of the same bank holding company, the successor shall be considered to be named as fiduciary in all writings that named the predecessor corporate fiduciary as trustee, including all wills, trusts, court orders and similar documents and instruments.
History:  1997 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 221 - State banks. › 221.0102 - Definitions.

221.0102
Definitions.
In this chapter:
(1)
“Articles of incorporation" includes amended and restated articles of incorporation.
(2)
“Authorized shares" means the shares of all classes that a bank is authorized to issue.
(3)
“Capital stock" means the stock of a bank, other than preferred stock.
(4)
“Capital" means, with respect to any bank, the sum of all of the following, less the bank's intangible assets:
(a)
The bank's capital stock.
(b)
The bank's preferred stock.
(bm)
The bank's surplus.
(c)
The bank's undivided profits.
(d)
Outstanding notes and debentures of the bank that are legally issued and sold by the bank and approved by the division under s. 221.0318 (2).
(5)
“Record date" means the date on which a bank determines the identity of its shareholders for purposes of this chapter.
(6)
“Shareholder" means the person in whose name shares are registered in the records of a bank or, to the extent of the rights granted by a nominee certificate on file with a bank, the beneficial owner of the shares.
(7)
“Subscriber" means a person who subscribes for shares in a bank, whether before or after incorporation of the bank.
(8)
“Treasury shares" means shares of a bank that have been issued, that have been subsequently acquired by and belong to the bank, and that have not been canceled or restored to the status of authorized but unissued shares.
(9)
“Voting group" means any of the following:
(a)
All shares of one or more classes or series that, under the articles of incorporation or this chapter, are entitled to vote and be counted together collectively on a matter at a meeting of shareholders.
(b)
All shares that under the articles of incorporation or this chapter are entitled to vote generally on a matter.
History:  1995 a. 336; 1997 a. 27.
2023 Wisconsin Statutes & Annotations › Chapter 221 - State banks. › 221.0103 - Notice.

221.0103
Notice.
(1)
Applicability. This section applies to a notice that is required under this chapter or that is made subject to this section by express reference to this section.
(2)
When oral notice permitted. A person shall give notice in writing, except that notices to or from a bank may be given orally, if permitted by the bank's articles of incorporation or bylaws and not otherwise prohibited by this chapter.
(3)
Method of providing written notice. Unless otherwise provided in the articles of incorporation or bylaws, notice may be communicated in person, by telephone, telegraph, teletype, facsimile or other form of wire or wireless communication, or by mail or private carrier. If these forms of personal notice are impracticable, notice may be communicated by a newspaper of general circulation in the area where published or by radio, television or other form of public broadcast communication.
(4)
Date notice is effective.
(a)
Except as provided in par. (b) and ss. 221.0607 (2) and 221.0622 (1), written notice is effective on the earliest of the following:
1.
On the date received.
2.
Five days after deposit of the notice in the U.S. mail, if mailed postpaid and correctly addressed.
3.
On the date shown on the return receipt, if the notice is sent by registered or certified mail, return receipt requested, and if the receipt is signed by or on behalf of the addressee.
4.
On the effective date specified in the articles of incorporation or bylaws.
(b)
Written notice by a bank to a shareholder of the bank is effective when mailed. The notice may be addressed to the shareholder's address shown in the bank's current record of shareholders.
(c)
Oral notice is effective when communicated.
History:  1995 a. 336.
2023 Wisconsin Statutes & Annotations › Chapter 221 - State banks. › 221.0104 - Applicability.

221.0104
Applicability.
This chapter applies to all banks organized and existing within this state. The powers, privileges, duties and restrictions conferred and imposed upon a bank existing and doing business under the laws of this state are hereby abridged, enlarged or modified, as each particular case may require, to conform to this chapter.
History:  1995 a. 336.
2023 Wisconsin Statutes & Annotations › Chapter 221 - State banks. › 221.0201 - Applicants.

221.0201
Applicants.
Any number of adult residents of this state, not less than 3 nor more than 20, who desire to associate for the purpose of organizing a banking corporation under this chapter, may apply to the division to organize a bank. The application shall be made on a form prescribed by the division.
History:  1995 a. 336.
2023 Wisconsin Statutes & Annotations › Chapter 221 - State banks. › 221.0203 - Certificate of authority.

221.0203
Certificate of authority.
(1)
Powers granted by certificate. If an application for authority to organize a banking corporation is approved, the division shall issue a certificate of authority to the applicants, who shall thereafter be known as the incorporators. The certificate of authority shall grant the incorporators such powers as are incidentally or necessarily preliminary to the organization of a banking corporation. These powers include all of the following:
(a)
Creating a temporary organization, consisting of a chairperson, a secretary and a treasurer.
(b)
Executing and filing articles of incorporation.
(c)
Adopting rules for the conduct of meetings of the incorporators and of the first meeting of the shareholders.
(d)
Opening subscription books for stock.
(e)
Securing an option on real estate to be used as a bank office.
(f)
Fixing an amount at which the stock shall be sold.
(g)
Collecting subscriptions to the stock.
(h)
Selecting a depository for funds as may be collected.
(i)
Appointing any agent or agents.
(j)
Compiling a set of bylaws for submission to the shareholders.
(2)
Voting requirements. Following the incorporation of a bank, an action permitted by this chapter to be taken by its incorporators may be taken by the majority of its incorporators or the survivors of the incorporators.
History:  1995 a. 336.
2023 Wisconsin Statutes & Annotations › Chapter 221 - State banks. › 221.0204 - Temporary organization.

221.0204
Temporary organization.
The chairperson of the incorporators shall preside at all meetings and shall exercise other duties that are ordinarily performed by a chairperson. The secretary shall manage the correspondence of the incorporators, record fully all proceedings of the meetings of the incorporators, file and preserve all documents and papers of the organization, and file any necessary papers with the division. The treasurer shall receive all moneys paid in on subscriptions to stock or for other purposes, keep a true account thereof, deposit these funds in the designated depository, and pay such valid orders as may be drawn on the treasurer. The incorporators shall require a bond in a suitable amount from the treasurer and from other officers and agents who may handle the funds of the proposed bank. The incorporators shall audit claims against the proposed bank and record of action on these claims in the minutes. If a claim is ordered paid, an order shall be drawn upon the treasurer and signed by the chairperson and secretary. Until the completion of the organization of the proposed bank, the incorporators may exercise the powers conferred upon incorporators of corporations under ch. 180, to the extent that these powers are not in conflict with this chapter.
History:  1995 a. 336.
2023 Wisconsin Statutes & Annotations › Chapter 221 - State banks. › 221.0205 - Capital stock.

221.0205
Capital stock.
Immediately following a bank's organization under this chapter, the division shall determine the required capital of the bank, subject to review by the banking institutions review board. In addition to the required capital stock, a contingent fund and paid-in surplus each in an amount equal to at least 25 percent of the aggregate amount of the capital stock, shall be subscribed at the time the subscription list of shareholders is prepared by the incorporators.
History:  1995 a. 336; 1997 a. 146; 2019 a. 65.
2023 Wisconsin Statutes & Annotations › Chapter 221 - State banks. › 221.02055 - Reserves.

221.02055
Reserves.
(1)
Definitions. In this section:
(a)
“Municipal obligation" has the meaning given in s. 67.01 (6).
(b)
“Short-term" means maturing within 18 months or less.
(2)
Reserve requirements. A bank shall maintain sufficient reserves to meet anticipated withdrawals, commitments and loan demand. A bank shall maintain at least the level of reserves required for it by the federal reserve system. The division may prescribe additional reserve requirements for an individual bank based on examination findings or other reports available to the division.
(3)
Permitted reserves. A bank's reserves consist of all of the following:
(a)
Cash.
(b)
Cash items in the process of collection.
(c)
Short-term obligations of or demand balances with other insured financial institutions in the United States.
(d)
Short-term obligations of or guaranteed by the federal government.
(e)
Short-term obligations of this state.
(f)
Short-term municipal obligations.
(g)
Short-term obligations approved by rule of the division.
(h)
Balances with federal reserve banks.
(4)
Effect of insufficient reserves. If the reserves of a bank fall below the reserves required under sub. (2), the bank may not increase its loans or discounts, except by discounting or purchasing bills of exchange payable at sight or on demand. The division shall notify a bank whose reserves are below the reserves required under sub. (2) that the bank shall make good its reserves. If the bank fails for 30 days thereafter to make good such reserves, the division may assess the bank $100 for each 2-week period during which the bank has not made good its reserves and may notify the attorney general and the department of justice shall institute proceedings for the appointment of a receiver and to wind up the business of the bank. The assessment shall be paid to the division and, if any such bank fails or refuses to pay the assessment, the division may maintain an action for the recovery of the assessment.
History:  1995 a. 336.