Chapter 215 — SAVINGS AND LOAN ASSOCIATIONS
53 sections in this chapter.
Wis. Stat. § 215.01 Definitions
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215.01 Definitions.
Wis. Stat. § 215.02 Powers of the division
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215.02 Powers of the division.
Wis. Stat. § 215.03 Supervision and control of associations
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215.03 Supervision and control of associations.
Wis. Stat. § 215.04 Review board
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215.04 Review board.
Wis. Stat. § 215.11 Surety bond of association’s officers, directors and employees
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215.11 Surety bond of association’s officers, directors and employees.
Wis. Stat. § 215.12 Penalty for dishonest acts; falsification of records
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215.12 Penalty for dishonest acts; falsification of records.
Wis. Stat. § 215.13 Powers of savings and loan associations
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215.13 Powers of savings and loan associations.
Wis. Stat. § 215.135 Additional authority
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215.135 Additional authority.
Wis. Stat. § 215.137 Savings promotion prize programs
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215.137 Savings promotion prize programs.
Wis. Stat. § 215.14 Savings accounts
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215.14 Savings accounts.
Wis. Stat. § 215.141 Financially related services tie-ins
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215.141 Financially related services tie-ins.
Wis. Stat. § 215.15 Evidence of ownership of savings accounts
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215.15 Evidence of ownership of savings accounts.
Wis. Stat. § 215.16 Savings account earnings
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215.16 Savings account earnings.
Wis. Stat. § 215.17 Withdrawal of savings accounts
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215.17 Withdrawal of savings accounts.
Wis. Stat. § 215.18 Closing of savings accounts
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215.18 Closing of savings accounts.
Wis. Stat. § 215.19 Loans on savings accounts
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215.19 Loans on savings accounts.
Wis. Stat. § 215.20 Property improvement loans
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215.20 Property improvement loans.
Wis. Stat. § 215.205 Other loans and investments
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215.205 Other loans and investments.
Wis. Stat. § 215.21 Mortgage loans
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215.21 Mortgage loans.
Wis. Stat. § 215.215 Nonconforming loans
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215.215 Nonconforming loans.
Wis. Stat. § 215.22 Real estate owned by association
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215.22 Real estate owned by association.
Wis. Stat. § 215.23 Limitations on investments in office buildings and related facilities
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215.23 Limitations on investments in office buildings and related facilities.
Wis. Stat. § 215.24 Minimum net worth
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215.24 Minimum net worth.
Wis. Stat. § 215.25 Annual audit requirement
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215.25 Annual audit requirement.
Wis. Stat. § 215.26 Miscellaneous provisions
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215.26 Miscellaneous provisions.
Wis. Stat. § 215.32 Possession by division; involuntary liquidation
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215.32 Possession by division; involuntary liquidation.
Wis. Stat. § 215.33 Foreign associations
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215.33 Foreign associations.
Wis. Stat. § 215.35 Conversion; or absorption; waiver
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215.35 Conversion; or absorption; waiver.
Wis. Stat. § 215.36 Interstate acquisition and merger of associations
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215.36 Interstate acquisition and merger of associations. SUBCHAPTER II MUTUAL SAVINGS AND LOAN ASSOCIATIONS; ORGANIZATION AND MANAGEMENT
Wis. Stat. § 215.40 Incorporation of a mutual savings and loan association
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215.40 Incorporation of a mutual savings and loan association.
Wis. Stat. § 215.41 Articles of incorporation for mutual associations
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215.41 Articles of incorporation for mutual associations. SUBCHAPTER I GENERAL PROVISIONS ON SAVINGS AND LOAN ASSOCIATIONS 215.01 Definitions. In this chapter: (1) “Association” means a savings and loan association, a building and loan association or a savings association operati…
Wis. Stat. § 215.42 Bylaws of mutual associations
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215.42 Bylaws of mutual associations. (1) FORM. The bylaws of a mutual association shall be approved by the division. The division shall, with the approval of the review board, promulgate rules governing bylaws. (2) FILINGS AND APPROVAL. Duplicate originals of the bylaws and any …
Wis. Stat. § 215.43 Members and voting rights in a mutual association
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215.43 Members and voting rights in a mutual association. (1) WHO MAY BECOME A MEMBER. Any person, including but not limited to a partnership, corporation, fiduciary, association or federal agency, may become a member of any mutual Updated 23-24 Wis. Stats. 20 association by owni…
Wis. Stat. § 215.50 Directors of a mutual association
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215.50 Directors of a mutual association. (1) MANAGEMENT RESPONSIBILITY. The government and management of a mutual association shall be vested in a board of directors, who are charged with the responsibility of compliance with this chapter, orders of the division, rules of the di…
Wis. Stat. § 215.51 Officers of a mutual association
Wis. Stat. § 215.512 Definitions applicable to indemnification and insurance provisions
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215.512 Definitions applicable to indemnification and insurance provisions. In ss. 215.512 to 215.521: (1) “Director or officer” means any of the following: (a) A natural person who is or was a director or officer of a mutual association. (b) A natural person who, while a directo…
Wis. Stat. § 215.513 Mandatory indemnification
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215.513 Mandatory indemnification. (1) A mutual association shall indemnify a director or officer, to the extent he or she has been successful on the merits or otherwise in the defense of a proceeding, for all reasonable expenses incurred in the proceeding if the director or offi…
Wis. Stat. § 215.514 Determination of right to indemnification
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215.514 Determination of right to indemnification. Unless otherwise provided by the articles of incorporation or bylaws or by written agreement between the director or officer and the mutual association, the director or officer seeking indemnification under s. 215.513 (2) shall s…
Wis. Stat. § 215.515 Allowance of expenses as incurred
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215.515 Allowance of expenses as incurred. Upon written request by a director or officer who is a party to a proceeding, a mutual association may pay or reimburse his or her reasonable expenses as incurred if the director or officer provides the mutual association with all of the…
Wis. Stat. § 215.516 Mutual association may limit indemnification
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215.516 Mutual association may limit indemnification. (1) A mutual association’s obligations to indemnify under s. 215.513 may be limited as follows: (a) If the mutual association obtains a certificate of incorporation on or after June 13, 1987, by the articles of incorporation, …
Wis. Stat. § 215.517 Additional rights to indemnification and allowance of expenses
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215.517 Additional rights to indemnification and allowance of expenses. (1) Except as provided in sub. (2), ss. 215.513 and 215.515 do not preclude any additional right to indemnification or allowance of expenses that a director or officer may have under any of the following: (a)…
Wis. Stat. § 215.518 Court-ordered indemnification
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215.518 Court-ordered indemnification. (1) Except as provided otherwise by written agreement between the director or officer and the mutual association, a director or officer who is a party to a proceeding may apply for indemnification to the court conducting the proceeding or to…
Wis. Stat. § 215.519 Indemnification and allowance of expenses of employees and agents
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215.519 Indemnification and allowance of expenses of employees and agents. A mutual association may indemnify and allow reasonable expenses of an employee or agent who is not a director or officer to the extent provided by the articles of incorporation or bylaws, by general or sp…
Wis. Stat. § 215.521 Insurance
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215.521 Insurance. A mutual association may purchase and maintain insurance on behalf of an individual who is an employee, agent, director or officer of the mutual association against liability asserted against and incurred by the individual in his or her capacity as an employee,…
Wis. Stat. § 215.523 Reliance by directors or officers
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215.523 Reliance by directors or officers. Unless the director or officer has knowledge that makes reliance unwarranted, a director or officer of a mutual association organized under this subchapter may, in discharging his or her duties to the mutual association, rely on informat…
Wis. Stat. § 215.524 Consideration of interests in addition to members’ interests
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215.524 Consideration of interests in addition to members’ interests. In discharging his or her duties to a mutual association organized under this subchapter and in determining what he or she believes to be in the best interests of the mutual association, a director or officer m…
Wis. Stat. § 215.525 Limited liability of directors and officers
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215.525 Limited liability of directors and officers. (1) Except as provided in subs. (2) and (3), a director or officer of a mutual association organized under this subchapter is not liable to the mutual association, its members or creditors, or any person asserting rights on beh…
Wis. Stat. § 215.528 General operation of a mutual association
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215.528 General operation of a mutual association. The general operations of a mutual savings and loan association shall comply with this subchapter and the applicable provisions of subch. I. History: 1975 c. 359; 1987 a. 13 s. 26s; Stats. 1987 s. 215.528.
Wis. Stat. § 215.53 Absorption involving mutual associations
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215.53 Absorption involving mutual associations. (1) CONDITIONS PRECEDENT. (a) With the consent of the division and subject to any condition that the division prescribes, a mutual association organized under this chapter may, by an affirmative vote of at least two-thirds of the b…
Wis. Stat. § 215.56 Voluntary liquidation of a mutual association
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215.56 Voluntary liquidation of a mutual association. (1) PROCEDURE FOR VOLUNTARY LIQUIDATION. (a) A mutual association may go into liquidation by a majority vote of the dollar value of the outstanding savings accounts at a members’ meeting held especially for that purpose, after…