reglab/statecodes huggingface dataset:
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 10 - Fees › Section DFI-CCS 10.01 - Fees

Current through June 24, 2024
Regarding business records filed with and maintained by the
				  department, the following fees apply:
(1) For preparing and supplying copies or
				certified copies of any resolution, deed, bond, record, document or paper
				deposited with or kept by the department:
(a)
				Certified copies: $10.00.
(b)
				Non-certified copies: $5.00.
(c)
				Information report: $5.00.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 11 - Charitable Solicitations › Section DFI-CCS 11.02 - Definitions

Current through June 24, 2024
In this chapter:
(1)
				"Central organization" means a charitable organization that has one or more
				affiliated subunits under its general supervision and control, such as a
				chapter, local, post or unit.
(2)
				"Charitable organization" has the meaning given in s.
				202.11(1),
				Stats.
Note:
Note: A private foundation which solicits
				  contributions in this state or has contributions solicited in this state on its
				  behalf falls under this definition.
Note:
Note: An organization which is exempt from
				  registration requirements under s.
				  202.12(5),
				  Stats., is exempt from the reporting requirement of this
				  chapter.
(2m) "Community"
				means the county in which a charitable organization's principal office is
				located.
(4) "Operates" means
				engages in solicitation, as defined in s.
				202.11(9),
				Stats.
(5) "Principal office" means
				the address most recently provided to the department of financial institutions
				by a charitable organization on an application for registration or a written
				notice of a change of the charitable organization's address.
(6) "Private foundation" means an
				organization defined in section 509 of the internal revenue code.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 11 - Charitable Solicitations › Section DFI-CCS 11.03 - Exemption from disclosure requirements

Current through June 24, 2024
(2) A registered
				charitable organization that operates solely within one community and that
				received less than $50,000 in contributions during its most recently completed
				fiscal year may apply to the department of financial institutions to be
				exempted from the solicitation disclosure requirements of s.
				202.12(6m) (b),
				Stats. The application shall be made on forms and in the manner prescribed by
				the department of financial institutions. A registered charitable organization
				which has applied for the exemption may not conduct solicitations without
				making the disclosures required under s.
				202.12(6m),
				Stats., until the registered charitable organization has received written
				notice from the department of financial institutions that the department of
				financial institutions has granted the exemption.
(3) If a registered charitable organization
				obtains an exemption under sub. (2), a professional fund-raiser who solicits
				contributions on behalf of the registered charitable organization is exempt
				from the solicitation disclosure requirements in s.
				202.14(11) (c),
				Stats., when soliciting contributions on behalf of the registered charitable
				organization.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 11 - Charitable Solicitations › Section DFI-CCS 11.06 - Registration of a central organization

Current through June 24, 2024
A central organization may file a single application for
				  charitable organization registration of the central organization and all of its
				  affiliated subunits, provided that the central organization has complete and
				  direct control over the solicitation activities of all subunits, receives all
				  contributions for its use or future distribution to the subunits and is
				  accountable for all receipts and disbursements relating to the solicited
				  contributions.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 11 - Charitable Solicitations › Section DFI-CCS 11.075 - Criteria relating to registration as a professional fund-raiser or a fund-raising counsel

Current through June 24, 2024
(1) In determining whether a person is
				required to register as a fund-raising counsel under s.
				202.13,
				Stats., or a professional fund-raiser under s.
				202.14, Stats., the department
				of financial institutions evaluates the obligations of the person to determine
				whether the person's responsibilities are limited to preparing and sending
				mailings for a registered charitable organization as distinguished from the
				function of making a mailing under the person's own name.
(2) For the limited purpose of determining
				whether a person is required to register as a professional fund-raiser under s.
				202.14, Stats., a person does
				not "solicit" in this state or employ, engage or provide, directly or
				indirectly, another person to "solicit in this state" as those terms are used
				in s. 202.11(7),
				Stats., if all of the following apply:
(a)
				The person mails requests for contributions.
(b) The contents of the mailing identify a
				charitable organization as the person requesting the contributions.
(c) The contents of the mailing do not
				include the name or contact information of the professional fund-raiser or the
				fund-raising counsel.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 11 - Charitable Solicitations › Section DFI-CCS 11.08 - Annual reports

Current through June 24, 2024
(1) REGISTERED CHARITABLE ORGANIZATIONS. Only
				charitable organizations which are registered or are required to be registered
				with the department of financial institutions are required to file an annual
				report under s. 202.12(3),
				Stats.
(3) STANDARDS FOR COMPLETION
				OF ANNUAL REPORTS. An annual report submitted to the department of financial
				institutions pursuant to s.
				202.12(3),
				202.13(2m),
				or 202.14(2m),
				Stats., shall be complete, accurate and truthful. It shall include all
				schedules and attachments required by the form prepared by the department of
				financial institutions.
Annual report forms may be obtained from the current
					 Internet site of the Department of Financial
					 Institutions.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 20 - Video Service Franchise › Section DFI-CCS 20.01 - Authority

Current through June 24, 2024
This chapter is adopted pursuant to ss.
				  66.0420(13)
				  and
				  227.11(2),
				  Stats.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 20 - Video Service Franchise › Section DFI-CCS 20.02 - Definitions

Current through June 24, 2024
In this chapter:
(1)
				"Administrator" means the administrator of the division of corporate and
				consumer services, department of financial institutions.
(2) "Department" means the department of
				financial institutions.
(3)
				"Low-income household" means a household with income equal to or less than 200%
				of the poverty line for a family of three as defined in
				42
				USC 9902(2).
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 20 - Video Service Franchise › Section DFI-CCS 20.03 - Filings

Current through June 24, 2024
(1) Documents regarding a video service
				franchise shall be filed with the department as follows:
(a) By United States mail addressed to the
				Wisconsin Department of Financial Institutions, Division of Corporate and
				Consumer Services, P.O. Box 7846, Madison, WI, 53707-7846; or
(b) In person or by delivery service to the
				Wisconsin Department of Financial Institutions, Division of Corporate and
				Consumer Services, 4822 Madison Yards Way, North Tower, 4th Floor, Madison,
				Wisconsin, 53705.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 20 - Video Service Franchise › Section DFI-CCS 20.04 - Annual fees and report

Current through June 24, 2024
(1) If a video service provider has 10,000 or
				less subscribers, the annual fees shall be those set forth in s.
				66.0420(3)
				(k)2, Stats.
(2) For all other video service providers,
				the first annual fee shall be $5,000 and each subsequent annual fee shall be
				$2,000.
(3) The holder of a video
				service franchise shall submit with its annual fee a report to the department.
				The report shall accurately update and make current all information required in
				the application that has changed since the issuance of the video service
				franchise. The report shall also include the number of video service
				subscribers for each municipality within the video franchise area. The report
				shall be in a form and manner prescribed by the department.
Forms may be obtained by contacting the department at
					 Department of Financial Institutions, Division of Corporate and Consumer
					 Services, Video Franchise Section, P.O. Box 7846, Madison, WI 53707-7846, or at
					 http://www.wdfi.org/corporations/ [File Link Not
					 Available].
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 20 - Video Service Franchise › Section DFI-CCS 20.05 - Certificates

Current through June 24, 2024
(1) If the department determines that an
				applicant is qualified to provide video service, the department shall issue a
				video service franchise to the applicant as set forth in the
				application.
(2) The holder of a
				video service franchise may transfer the franchise to any successor by filing a
				notice of transfer with the department and each affected municipality and
				complying with the requirements of s.
				66.0420(11),
				Stats. The notice shall include the address of the successor's principal place
				of business and the names and titles of the successor's principal executive
				officers. The successor shall assume all regulatory rights and responsibilities
				of the holder transferring the franchise.
(3) A video service franchise shall expire 10
				years after the date of its issuance by the department.
(4) A holder of a video service franchise may
				renew a franchise if the application and notification requirements of s.
				66.0420, Stats.,
				and this chapter are met prior to the expiration of the franchise. A renewed
				video service franchise shall be for a period of 10 years unless the department
				determines that the video service provider is not legally, financially or
				technically qualified.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 20 - Video Service Franchise › Section DFI-CCS 20.06 - Video franchise area descriptions

Current through June 24, 2024
(1) Video franchise
				areas shall be described in a manner sufficient to enable a person to determine
				whether or not a particular location falls within the video franchise area. If
				both a map and a description of a video franchise area are required, then the
				description of the video franchise area shall correspond to the map. A
				description shall be deemed insufficient if it merely refers to a map without a
				description of what the map represents.
DFI-CCS 20.06 Note Example: Any of the following descriptions
				  would enable a person to determine whether a location falls within the
				  described video franchise area: the entirety of the State of Wisconsin; the
				  entirety of X county; all of X county north of Y highway; the city of Z; the A,
				  B, and C subdivisions of Q city; or those portions of X county between river S
				  and highway Y.
(2) A video
				franchise area description shall delineate areas served by the video service
				provider pursuant to the video service franchise. The video service provider
				shall also describe areas served by the video service provider pursuant to a
				municipal contract or agreement.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 20 - Video Service Franchise › Section DFI-CCS 20.07 - Maps

Current through June 24, 2024
(1) REQUEST. The department may request maps
				related to the video franchise area as is necessary for compliance with s.
				66.0420, Stats.,
				and this chapter.
(2) ACCURACY.
				Maps shall accurately depict the geographic area to be served by reference to
				governmental boundaries, streets, roads or geographical features.
(3) GENERAL REQUIREMENTS. A map shall include
				all of the following:
(a) The geographic map
				image.
(b) A scale
				indicator.
(c) A graphic indicating
				the direction north.
(d) A title
				indicating the map's purpose.
(e) A
				reference statement linking the map to the filing for which the map is
				submitted.
(f) A legend or key to
				any symbols on the geographic map image.
(g) Any additional information which may be
				useful to the video service subscribers, the department, governmental entities
				and others.
DFI-CCS 20.07 Note Example: The map may include geographic
				  features such as waterways.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 20 - Video Service Franchise › Section DFI-CCS 20.08 - Map and video franchise area description amendments

Current through June 24, 2024
A filer may amend a map or video franchise area description
				  for reasons other than changes to the video franchise area boundaries. An
				  amended map or video franchise area description shall be titled "Amended." An
				  amended map or video franchise area description shall meet the requirements of
				  and be filed in accordance with the requirements of this chapter.
DFI-CCS 20.08 Note Example: A filer may amend a map or video
				  franchise area description to further identify landmarks within the described
				  video franchise area such as street names.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 20 - Video Service Franchise › Section DFI-CCS 20.09 - Qualifications

Current through June 24, 2024
(1) Factors that the department may consider
				for determining whether an applicant is legally, financially and technically
				qualified to provide video service include the following:
(a) That the applicant is lawfully organized
				and is registered to conduct business in this state.
(b) That the applicant has the expertise,
				equipment, infrastructure and personnel to construct and maintain the video
				service network for which it has requested a video service franchise.
(c) That the applicant has the financial
				resources to construct and maintain the video service network for which it has
				requested a video service franchise.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 25 - Notaries Public And Notarial Acts › Section DFI-CCS 25.01 - Definitions

Current through June 24, 2024
In this chapter, unless otherwise indicated, words and
				  phrases shall have the meanings specified in ss.
				  140.01,
				  140.145, and
				  990.01, Stats.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 25 - Notaries Public And Notarial Acts › Section DFI-CCS 25.02 - Notices from the department; notary contact information

Current through June 24, 2024
(1) Notices and
				other communications from the department may be provided to a notary public by
				email or other electronic means.
(2) A notary public shall provide the
				department with written notice, in a form and manner acceptable to the
				department, of any change of name, seal or stamp, and address, including
				primary email address, within 10 days of the change.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 25 - Notaries Public And Notarial Acts › Section DFI-CCS 25.03 - Notarial acts for remotely located individuals

Current through June 24, 2024
A notary public of this state may perform a notarial act for
				  a remotely located individual if all the following apply:
(1) The notary public performs the notarial
				act by utilizing a communication technology provider that has authorized the
				notary public to utilize its technology and has been approved pursuant to s.
				DFI-CCS 25.04, or by utilizing an alternative process that has been approved
				pursuant to s. DFI-CCS 25.05.
(2)
				The notary public has reviewed and understands s.
				140.145, Stats., and all
				guidance published on the department's website regarding the performance of
				notarial acts for remotely located individuals.
(3) The notary public is competent with the
				technologies and processes to be utilized in performing notarial acts for
				remotely located individuals.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 25 - Notaries Public And Notarial Acts › Section DFI-CCS 25.05 - Alternative processes used to perform notarial acts for remotely located individuals

Current through June 24, 2024
In addition to the method of utilizing a communication
				  technology provider that is approved under s. DFI-CCS 25.04, the department may
				  establish alternative processes or methods of performing notarial acts for
				  remotely located individuals, provided such processes or methods meet the
				  requirements of ch. 140, Stats.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CCS 1-25 - Department of Financial Institutions-Corporate and Consumer Services › Chapter DFI-CCS 25 - Notaries Public And Notarial Acts › Section DFI-CCS 25.06 - Investigations; suspensions and revocations of notary public commissions

Current through June 24, 2024
(1) The department may investigate whether a
				person has violated, is violating, or is about to violate any provision of ch.
				140, Stats., or this chapter. The department may administer oaths and
				affirmations, issue subpoenas, take evidence, require the filing of statements
				(including responses to allegations), require testimony in oral or written
				form, and require the production of any records that the department considers
				relevant or material to the investigation.
(2) The department may deny, refuse to renew,
				revoke, suspend, or impose a condition on the commission of a notary public for
				any act or omission that demonstrates the individual lacks the competence,
				reliability, or integrity to act as a notary public, including any of the
				following:
(a) Failing to comply with any
				provision of ch. 140, Stats., or this chapter.
(b) Committing an act of fraud, deceit, or of
				any other misconduct substantially relating to the character or public trust
				required of a notary public.
(c)
				Being convicted in any jurisdiction of committing any felony, any misdemeanor
				involving fraud, forgery, or similar violations of the public trust, or the
				unauthorized practice of law.
(d)
				Using false or misleading advertising or otherwise engaging in any method, act,
				or practice that is unfair or deceptive, including any untrue or misleading
				statement or omission of a material fact relating to a duty or responsibility
				of a notary public.
(e) Making an
				untrue or misleading statement, or knowingly omitting a material fact, in any
				application or filing required by ch. 140, Stats.
(f) Failing to promptly and fully comply with
				any investigation or request for information by the department.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 51 - Credit unions › Section DFI-CU 51.01 - Membership defined

Current through June 24, 2024
(1) A credit union member shall be considered
				as a person whose application has been approved in accordance with the
				provisions of the by-laws. Said person shall pay the entrance fee only if
				required by resolution of the board of directors and shall subscribe for at
				least one share of stock and who shall pay for this share in full or may make
				the initial payment thereon and shall pay the balance within 3
				months.
(2) A person who has ceased
				to be a member may be readmitted to membership in the same manner and under the
				same conditions as was required for the original admission except that in the
				case of such readmission, the payment of the entrance fee, if any, shall be at
				the discretion of the board of directors.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 54 - Real Estate Mortgage Loans › Section DFI-CU 54.01 - Purpose and scope

Current through June 24, 2024
It is the purpose of this chapter to permit Wisconsin credit
				  unions to make loans to their members secured by real estate in accordance with
				  applicable state or federal rules, regulations, and statutes. This chapter is
				  intended to assist institutions in the formation and maintenance of a real
				  estate lending policy that is appropriate to the size of the institution and
				  the nature and scope of its individual operations. Loans for which a lien on
				  real estate is taken through an abundance of caution where the terms of the
				  loan as a consequence have not been made more favorable than they would have
				  been in the absence of the lien are exempt from the requirements of this
				  chapter. The director may limit, restrict or prohibit a credit union from
				  making any type, category, or classification of loan governed by this chapter
				  if examination results indicate the credit union is conducting its business in
				  an unauthorized or unsafe manner or is violating the provisions of this
				  chapter.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 54 - Real Estate Mortgage Loans › Section DFI-CU 54.02 - Definitions

Current through June 24, 2024
In this chapter:
(1)
				"Borrower's equity" means the market value of the subject real estate minus
				outstanding indebtedness.
(2)
				"Director" means the director of credit unions or an authorized representative
				of the director.
(3) "Equity loan"
				means any loan secured in whole or in part by a first or subordinate lien on
				real estate and whose purpose is anything other than to purchase the secured
				real estate.
(4) "Indebtedness"
				means the balances of all outstanding closed-end loans, maximum approved lines
				of credit of all open-end loans, unpaid taxes due and any other unsatisfied
				liens or encumbrances applicable to the subject real estate.
(5) "Market value" means the most probable
				price, which a property should bring in a competitive and open market under all
				conditions requisite to a fair sale, the buyer and seller each acting prudently
				and knowledgeably and assuming the price is not affected by undue stimulus.
				Implicit in this definition is the consummation of a sale as of a specified
				date and the passing of title from seller to buyer under conditions whereby:
(a) Buyer and seller are typically
				motivated;
(b) Both parties are
				well informed or well advised, and acting in what they consider their own best
				interests;
(c) A reasonable time is
				allowed for exposure in the open market;
(d) Payment is made in terms of cash in U.S.
				dollars or in terms of financial arrangements comparable thereto; and
(e) The price represents the normal
				consideration for the property sold unaffected by special or creative financing
				or sales concessions granted by anyone associated with the sale.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 54 - Real Estate Mortgage Loans › Section DFI-CU 54.03 - Limitations on real estate mortgage loans

Current through June 24, 2024
A credit union may grant purchase money and equity mortgage
				  loans to members secured with real estate, subject to the following
				  limitations:
(1) Purchase money loans,
				excluding amounts financed for accident, health and credit life insurance
				premiums, may not exceed 90% of the market value of the subject real estate
				except if:
(a) The part of the loan that
				exceeds the 90% limitation is insured or guaranteed by a qualified private
				mortgage insurer;
(b) The loan or
				the part of the loan that exceeds the 90% limitation is insured or guaranteed
				by an agency or instrumentality of a local, state or federal
				government;
(c) The loan is to
				facilitate the sale of real estate owned by the credit union or real estate in
				foreclosure; or
(d) The loan,
				excluding accident, health and credit life insurance premiums, does not exceed
				$30,000.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 54 - Real Estate Mortgage Loans › Section DFI-CU 54.04 - Loan policies

Current through June 24, 2024
The board of directors shall adopt written policies to direct
				  the real estate lending activities. The loan policies shall be reviewed at
				  least annually. The policies shall address, at a minimum, the following:
(1) Types of real estate mortgage loans that
				will be offered.
(2) Percentage of
				assets to be invested in real estate loans by category.
(3) The trade area for real estate mortgage
				loans.
(4) Maturities of real
				estate mortgage loans.
(5)
				Appropriate limits and standards of creditworthiness applicable to real estate
				loan approvals.
(6) Monitoring and
				quality control standards.
(7)
				Appraisal and valuation standards.
(8) Loan to value limitations on equity
				loans.
(9) Asset liability/funds
				management issues.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 54 - Real Estate Mortgage Loans › Section DFI-CU 54.05 - Required documentation

Current through June 24, 2024
Each real estate loan shall be supported by the following
				  documents and information:
(1) A note
				properly executed, together with the related mortgage properly executed and
				recorded.
(2) Documentation
				establishing the quality and validity of the credit union's lien position by
				one of the following:
(a) For purchase money
				loans:
1. A title policy in favor of the
				credit union covering its interest as mortgagee in the property; or
2. An abstract showing title in the
				borrower's name and the credit union's mortgage, together with an attorney's
				opinion indicating the credit union's lien position.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 56 - Credit Union Review Board › Section DFI-CU 56.01 - Rules of procedure

Current through June 24, 2024
The following rules of procedure shall govern all types of
				  proceedings had before the credit union review board. In any case where the
				  statute involved provides a procedure inconsistent with these rules, the
				  statute shall govern to the extent of such inconsistency. If in any case the
				  forms set out in these rules be found not appropriate, parties may devise forms
				  substantially similar to those herein prescribed, to meet such
				  situations.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 56 - Credit Union Review Board › Section DFI-CU 56.03 - Form of notice of appeal

Current through June 24, 2024
Any interested person aggrieved by any act, order or
				  determination of the director under ch. 186, Stats., may file with the director
				  within 60 days after the act, order, or determination to be reviewed, a notice
				  of appeal in the manner prescribed by s. DFI-CU 56.05 in the following
				  form:
To the Wisconsin Credit Union Review Board:
The undersigned hereby appeals from the order of the
				  Director of Credit Unions dated, 2 whereby it was ordered that (here set forth
				  the substance of the order).
The nature of petitioner's interest is: (Here set forth the
				  nature of petitioner's interest).
The grounds of appeal are the following: (Here set forth the
				  exceptions or objections relied on, and if no answer has been filed, then also
				  an answer to the findings of fact in the order in the manner prescribed by the
				  Rules of Procedure for proceedings and hearings had before the Division of
				  Banking).
Dated, 2_.
________________________
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 56 - Credit Union Review Board › Section DFI-CU 56.04 - Procedure

Current through June 24, 2024
Upon the filing of said notice, the director shall fix a time
				  for hearing by giving at least 10 days' written notice of the time and place
				  when said matter will be heard to the person applying for review or his or her
				  attorney and upon any other person who participated in the proceedings before
				  the director or his or her attorney, stating the issues to be
				  considered.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 56 - Credit Union Review Board › Section DFI-CU 56.05 - Service and filing of papers

Current through June 24, 2024
Notice of hearing may be given by email or registered mail
				  addressed to the party at the last known email or post office address, or to
				  the attorney of record. Papers required to be filed with the board may be
				  transmitted by email to the director or mailed to the following address:
Credit Union Review Board
Office of Credit Unions
4822 Madison Yards Way, North Tower, 4th Floor
P.O. Box 14137 Madison, Wisconsin 53708
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 56 - Credit Union Review Board › Section DFI-CU 56.06 - Conduct of hearings; continuances; appearances; examination of witnesses

Current through June 24, 2024
Continuances and adjournments may be granted by the board for
				  cause shown. The appellant may appear in person or by an officer, regular
				  employee, or attorney. Any other interested person may likewise so appear.
				  Proceedings shall be in conformity to s.
				  220.035(1)
				  (c), Stats. Witnesses competent to take an
				  oath shall be sworn by the chair of the board or the presiding officers and may
				  be examined on behalf of the board by the chair or presiding officer or by a
				  representative of the attorney general acting as counsel for the board, or with
				  the permission of the chair or presiding officer, by any employee of the board
				  or director or by any other interested party or their attorneys. Any interested
				  party or any of his or her agents, officers, or employees may be examined
				  adversely as prescribed by s.
				  885.14,
				  1973 Stats. In all other respects, proceedings shall be had as prescribed in
				  ch. 227, Stats.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 56 - Credit Union Review Board › Section DFI-CU 56.07 - Subpoenas

Current through June 24, 2024
The board shall have the powers granted by s.
				  885.01(4),
				  1973 Stats.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 56 - Credit Union Review Board › Section DFI-CU 56.08 - Prehearing conferences

Current through June 24, 2024
Prehearing conferences may be held at the convenience of the
				  parties and shall be conducted by the director or any other employee of the
				  director designated by the director, who shall keep and preserve a record of
				  any agreement as to the issues or stipulation or admission of fact which may be
				  made at such conference. Such record shall be attached to the file and
				  constitute a part of the official record of the case.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 56 - Credit Union Review Board › Section DFI-CU 56.09 - Arguments

Current through June 24, 2024
Except as provided in s.
				  227.49,
				  Stats., arguments shall be submitted to the board in writing, unless otherwise
				  ordered. Eight copies of such written arguments shall be filed with the
				  director who shall forthwith send a copy to each member of the board. The time
				  for filing arguments shall be fixed by the officer presiding at the
				  hearing.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 56 - Credit Union Review Board › Section DFI-CU 56.10 - Variances

Current through June 24, 2024
The provisions of s. 263.28, 1973 Stats., with reference to
				  variances between the allegations and the proof, shall apply to proceedings
				  under these rules.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 56 - Credit Union Review Board › Section DFI-CU 56.11 - Stay of proceedings

Current through June 24, 2024
The institution of the proceedings for review shall not stay
				  enforcement of the director's decision, but the board may order a stay upon
				  such terms as it deems proper.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 57 - Retention of credit union books and records (Repealed) › Section DFI-CU 57.01 - Retention of records (Repealed)

Current through June 24, 2024
The material incorporated in this rule may be obtained from
					 the Financial Managers Society, Inc., 230 West Monroe Street, Suite 2205,
					 Chicago, IL 60606 (phone: (312)578-1300). A copy is on file at the office of
					 credit unions, the secretary of state, and the legislative reference bureau.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 59 - Miscellaneous investments by credit unions › Section DFI-CU 59.01 - Miscellaneous investments

Current through June 24, 2024
In addition to the specific investments identified in s.
				  186.11, Stats.,
				  credit unions, subject to the minimum requirements established below, may also
				  invest in "institutional investments" without the prior approval of the
				  director of credit unions.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 59 - Miscellaneous investments by credit unions › Section DFI-CU 59.02 - Definition

Current through June 24, 2024
"Institutional investments" represent securities issued by
				  hospitals, churches, sanatoria, seminaries, dioceses, and similar type
				  institutions.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 59 - Miscellaneous investments by credit unions › Section DFI-CU 59.03 - Minimum requirements

Current through June 24, 2024
(1) The institutional security must have at
				least a "AA" rating by fitch investors service of New York City, or a
				comparable rating service.
(2) Even
				though exempt with the federal securities and exchange commission, the
				institutional investment securities should be registered with the office of the
				division of securities, state of Wisconsin, and saleable in the state of
				Wisconsin.
(3) The institutional
				investments are to be limited to institutions located within the continental
				United States.
(4) The maturity of
				the securities purchased may be up to 5 years from the date of purchase. The
				foregoing is not to be construed as permitting investments in excess of 60
				months.
(5) A credit union may not
				invest in institutional investments within the "balloon"; that is, where a
				substantial portion of the securities mature on the same date, usually, the
				last maturity year.
(6) An
				individual credit union may not invest more than $50,000 in securities issued
				by any one individual institution without the prior approval of the director of
				credit unions.
(7) At the date of
				the investment, the credit union must have at least 70% of its liquidity in
				investments other than institutional investments.
(8) The individual investment must be
				approved by a majority of the investing credit union board of
				directors.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 59 - Miscellaneous investments by credit unions › Section DFI-CU 59.04 - Director's consent

Current through June 24, 2024
Subject to the foregoing minimum requirements as outlined
				  above in s. DFI-CU 59.03, the director of credit unions hereby grants
				  permission to eligible credit unions to make investments in institutional
				  investments. However, it should be pointed out that the responsibility for the
				  selection of this type of investment necessarily rests with the board of
				  directors of the investing credit union. The director of credit unions in
				  granting this permission, merely indicates that he or she does not object to
				  the credit union investing therein, but does not indicate that this type of
				  investment necessarily is in the best interests of the credit
				  union.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 60 - Savings, dividend periods and early withdrawal penalties › Section DFI-CU 60.01 - Definitions

Current through June 24, 2024
(1) "Certificate of deposit" means a savings
				deposit evidenced by a non-negotiable instrument which provides, either on its
				face or in an accompanying clear and conspicuous disclosure:
(a) The name or names of the
				depositor;
(b) The principal amount
				of the deposit or initial deposit;
(c) The dividend rate applicable to the
				certificate of deposit or initial deposit;
(d) The expiration date at which time the
				certificate of deposit is due and payable upon surrender of the instrument;
				and
(e) Other material terms
				applicable to the certificate of deposit. These terms shall include, but are
				not limited to, any penalties which may be imposed by the credit union for
				premature withdrawal of the funds by the member; and the terms and conditions
				under which the deposit may be renewed, extended or increased.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 60 - Savings, dividend periods and early withdrawal penalties › Section DFI-CU 60.02 - Dividend periods

Current through June 24, 2024
(1) The board of directors shall establish
				the dividend periods applicable to each classification of members savings.
				Dividends may be calculated on the basis of any time period, from a minimum
				period of daily to a maximum period of annually.
(2) Dividends on each classification of
				members savings shall be calculated and paid in a consistent manner on all
				accounts complying with the requirements of that class.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 60 - Savings, dividend periods and early withdrawal penalties › Section DFI-CU 60.03 - Certificates of deposit

Current through June 24, 2024
(1) The board of directors shall establish
				the policy with regard to maturities and minimum denominations for each
				classification of certificates of deposit. This policy shall be reviewed from
				time to time as conditions require.
(2)
(a) At
				least 10 days prior to the maturity of a certificate of deposit, the credit
				union shall provide the holder written notice which sets forth the terms and
				options available to the holder with regard to continuation or renewal of the
				certificate.
(b) If the credit
				union elects not to renew a certificate of deposit, the credit union shall send
				the holder a clear notice of this intent at least 10 days prior to the maturity
				of the certificate. If a member is duly notified of the intention not to renew,
				it shall be optional with the credit union whether dividends will continue to
				be paid after maturity on certificates of deposit not surrendered at maturity
				date.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 60 - Savings, dividend periods and early withdrawal penalties › Section DFI-CU 60.04 - Passbook savings accounts

Current through June 24, 2024
(1) The board of
				directors shall establish the conditions applicable to passbook savings
				accounts. These accounts may be issued in various classifications.
(2) Passbook savings accounts may be issued
				either with or without a stated maturity.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 60 - Savings, dividend periods and early withdrawal penalties › Section DFI-CU 60.05 - Early withdrawal penalties

Current through June 24, 2024
(1) The board of
				directors shall establish the policy with regard to the penalties for early
				withdrawal from certificate of deposit accounts or passbook savings accounts
				with stated maturities. Early withdrawal penalties may be enforced up to the
				maximum permitted by the depository institutions deregulation committee for
				similar types of accounts held in banks and savings and loan associations. If
				early withdrawal penalties are enforced by a credit union, these penalties
				shall be applied in a consistent manner to all accounts of a similar
				classification. This policy shall state the conditions under which penalties
				may be waived or modified.
(2)
				Penalties imposed for early withdrawal from certificate of deposit accounts or
				passbook savings accounts with maturities may be deducted from the principal
				amount of the certificate or account balance.
(3) For all accounts on which early
				withdrawal penalties are applicable, at the time of initial deposit the credit
				union shall provide the member a clear disclosure in writing explaining the
				penalties and the conditions under which the penalties may be
				invoked.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 60 - Savings, dividend periods and early withdrawal penalties › Section DFI-CU 60.06 - Credit union dissolution

Current through June 24, 2024
The liability for dividends declared by the board of
				  directors on certificate of deposit accounts and passbook savings accounts
				  shall terminate without penalty to the credit union upon the credit union
				  entering an involuntary dissolution procedure, or if the director shall take
				  possession of the credit union under s.
				  186.235(11),
				  Stats. Upon dissolution, the director shall determine the priority of payout of
				  the various classifications of savings.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 61 - Credit union purchase or acquisition of conditional sales contracts or similar instruments executed by credit union members › Section DFI-CU 61.01 - Limitations

Current through June 24, 2024
(1) Subject to the following minimum
				requirements, credit unions with assets of $1,000,000 or more may purchase or
				acquire conditional sales contracts or similar instruments executed by their
				members. Credit unions with assets of less than $1,000,000 may do so subject to
				the following minimum requirements, only with the prior, written approval of
				the director.
Wisconsin Administrative Code › Department of Financial Institutions › DFI-CU 51-75 - Department of Financial Institutions-Credit Unions › Chapter DFI-CU 61 - Credit union purchase or acquisition of conditional sales contracts or similar instruments executed by credit union members › Section DFI-CU 61.02 - Interest rates

Current through June 24, 2024
(1) The maximum interest rate (finance
				charge) chargeable to the member-borrower by a seller on a conditional sales
				contract or similar instrument sold to a credit union shall not exceed that
				permitted by s.
				422.201,
				Stats. On such contracts neither the seller nor the credit union, in the
				aggregate, may directly benefit by interest charges, including "Time Price
				Differential", processing or service fees by an amount in excess of that
				permitted by s.
				422.201,
				Stats.
(2) The interest rate or
				finance charges on conditional sales contracts and similar instruments and all
				loans shall be calculated and applied on a simple interest basis on the unpaid
				balance. "Add-on" or "Discount" interest rates on purchased contracts and other
				credit union loans are not permitted.