AB150,1992,2318 221.04 (4h) Stock in bank-owned banks. Any bank holding company, subject
19to the limitations in s. 221.58 (7), or any bank may, with the approval of the
20commissioner department, acquire and hold stock in an aggregate amount not
21exceeding 10% of its capital and surplus, in one or more banks chartered under s.
22221.57 or in one or more bank holding companies wholly owning a bank chartered
23under s. 221.57.

AB150,1993,5

---

1221.04 (4m) Stock in agricultural credit corporation. Any bank may invest,
2with the approval of the commissioner of banking department, in an agricultural
3credit corporation. Unless a bank owns at least 80% of the stock of the agricultural
4credit corporation, the amount which it invests in the corporation shall not exceed
520% of the bank's paid-in capital stock and surplus.

AB150,1993,207 221.04 (5) (title) Information to commissioner department ; stock holdings.
8Every such bank investing in the capital stock of banks or corporations as provided
9herein shall be required to furnish information concerning the condition of such
10banks or corporations to the commissioner department upon demand. If at any time
11the commissioner department shall ascertain or believe that any regulations
12prescribed by the commissioner department with reference to such business are not
13being complied with, said commissioner the department is hereby authorized and
14empowered to institute an investigation of the matter in order to satisfy the
15commissioner department as to the actual nature of the transactions referred to.
16Should such investigation result in establishing the failure of the corporation in
17question, or of the bank or banks which may be stockholders therein, to comply with
18the regulations laid down by the said commissioner department, such bank or banks
19may be required to dispose of stock holdings in said corporation upon reasonable
20notice.

AB150,1995,822 221.04 (6) Trust powers. When thereto authorized by the commissioner
23department, and if and after it shall have in good faith complied with all
24requirements of law and fulfilled all the conditions precedent to the exercise of such
25powers imposed by law upon trust company banks, any state bank may act as

---

1trustee, executor, administrator, registrar of stocks and bonds, guardian of estates,
2assignee, receiver, committee of estates of lunatics persons who are mentally ill or
3developmentally disabled, and in any other fiduciary capacity in which trust
4company banks are permitted to act. Any state bank so authorized by the
5commissioner department shall comply with s. 223.02 before exercising such
6authority and shall be thereupon entitled to the same exemption as to making and
7filing any oath or giving any bond or security as is conferred on trust company banks
8by s. 223.03 (8). With its application for permission to exercise fiduciary powers
9under this subsection, a state bank shall submit to the commissioner department a
10fee of $1,000. In passing upon application for permission to exercise such fiduciary
11powers, the commissioner department may take into consideration the amount of
12capital and surplus of the applying bank, whether or not such capital and surplus is
13sufficient under the circumstances, the needs of the community to be served, and any
14other facts and circumstances that seem to him may be material, and may grant or
15refuse the application accordingly; provided, that no special authorization shall be
16issued to any such bank having a capital less than the capital from time to time
17required by law of a national bank exercising fiduciary power in the same place. If
18satisfied that such bank has in good faith complied with all the requirements of law
19and fulfilled all the conditions precedent to the exercise of such powers imposed by
20law, the commissioner department may, within 6 months after the date on which the
21application of such bank was filed, issue under his or her hand and official seal, in
22triplicate, a special authorization certificate to such bank. Such certificate shall
23state that the bank named therein has complied with the provisions of law applicable
24to banks exercising fiduciary powers, and is authorized to exercise the same. One
25of the triplicate special authorization certificates shall be transmitted by the

---

1commissioner department to the bank thereby authorized to exercise fiduciary
2powers; another shall be filed and recorded in the office of the commissioner with the
3department, and the 3rd shall be recorded at the expense of such bank in the office
4of the register of deeds of the county in which such bank is located. In the conduct
5of its business under or in connection with such authorization to exercise fiduciary
6powers every bank so authorized shall comply with and be governed by all the
7provisions of law from time to time applicable to individuals acting in a similar
8capacity.

AB150,1995,1710 221.04 (6m) Trust service offices. Any state bank exercising trust powers
11may, with the approval of the commissioner of banking department, establish and
12maintain a trust service office at any office in this state of any other state or national
13bank. Any state bank may, with the approval of the commissioner department,
14permit any other state or national bank exercising trust powers or any trust company
15bank organized under ch. 223 to establish and maintain a trust service office at any
16of its banking offices. The establishment and operation of such trust service offices
17shall be subject to s. 223.07. This subsection does not authorize branch banking.

AB150,1996,819 221.04 (7) Sale of U.S. bonds. Any state bank or trust company bank may, by
20resolution of its board of directors authorizing such action, act whenever designated
21by the secretary of the treasury of the United States or by any other instrumentality
22of the United States, as agent for said secretary of the treasury or other
23instrumentality of the United States in the sale of bonds or other obligations of the
24United States or in such other matters as said secretary of the treasury or other
25instrumentality of the United States may designate. Any of said institutions may

---

1enter into such contracts, incur such obligations or make such investment or pledge
2of its assets and generally do and perform all such acts and things whatsoever as may
3be necessary or appropriate in order to exercise the powers hereby granted.
4Provided, however, that any state bank or trust company bank may exercise such
5powers only upon express approval previously granted by the commissioner of
6banking department, and in such manner and to such extent as the commissioner
7department may approve, and with such limitations upon the exercise of those
8powers as the commissioner department may impose.

AB150,1996,1610 221.041 (5) Any bank may cause to be performed, by contract or otherwise, any
11bank services for itself, whether on or off its premises, provided assurances
12satisfactory to the commissioner of banking department are furnished to the
13commissioner department by both the bank and the party performing the services
14that the performance thereof will be subject to regulation and examination by the
15commissioner department to the same extent as if such services were being
16performed by the bank itself on its own premises.

AB150,1997,218 221.045 (1) Whenever the term "capital" as distinguished from the term
19"capital stock" is used in any law of this state relating to banking, it shall mean and
20include the capital stock and preferred stock of a bank and the outstanding capital
21notes and debentures legally issued and sold by such bank exclusive of Class "B"
22capital notes and debentures as classified by the commissioner of banking
23department. The "capital" of any such bank may be deemed to be unimpaired when
24the amount of such capital notes and debentures as represented by cash or sound
25assets or the amount of such preferred stock, or both such notes and debentures and

---

1such preferred stock, equals or exceeds the impairment of the "capital stock" as found
2by the commissioner department.

AB150,1997,84 221.046 (1) Any state bank or trust company bank may by the action of its
5board of directors issue and sell its capital notes or debentures of one or more classes
6in the amount, in the form, with the maturity and conferring the rights and
7privileges upon the holders of them as the board determines, except that no issuance
8or sale may be made unless approved by the commissioner of banking department.

AB150,1997,1410 221.046 (2) Before any such capital notes or debentures are retired or paid by
11the bank, any existing deficiency of its capital, disregarding the notes and
12debentures to be retired, must be paid in cash or in assets acceptable to the
13commissioner of banking department, so that the sound capital assets shall at least
14equal the capital stock of the bank.

AB150,1997,17 16221.047 (title) Banks may issue preferred stock; approval of
17commissioner; restrictions.

AB150,1998,619 221.047 (1) Except as provided in sub. (2), any bank organized under the laws
20of this state may by provision in its original articles, or by amendment thereto,
21adopted by a two-thirds vote of the stock having voting power, upon not less than 10
22days' notice given by registered mail pursuant to action taken by the board of
23directors, and subject to the approval of the commissioner department, issue
24preferred stock of one or more classes, in such amount and with such par value as
25may be approved by said commissioner the department; provide subject to the

---

1approval of the commissioner department, for payment of dividends on such
2preferred stock at a specified rate before dividends are paid upon the capital stock;
3for the cumulation of such dividends; for a preference of such preferred stock over the
4capital stock in the distribution of the corporate assets; for the conversion of such
5preferred stock into capital stock; for the redemption of such preferred stock and for
6denying or restricting the voting power of such preferred stock.

AB150,1998,118 221.047 (4) No change in relation to such preferred stock shall be made except
9by amendment to the articles adopted by a vote of two-thirds of the preferred stock
10and two-thirds of the capital stock, and subject to the approval of the commissioner
11department.

AB150,1998,16 13221.05 Prohibition to transact business. No bank shall transact any
14business, except such as is incidental or necessarily preliminary to its organization
15until it has been regularly authorized by the commissioner of banking department
16to commence the business of banking.

AB150,1999,2 18221.06 Authority to commence business. (intro.) Whenever, within a
19reasonable time as determined by the commissioner of banking department from the
20date of the filing of the articles of incorporation, a bank organizing under this chapter
21has complied with all provisions of the law, and has adopted bylaws approved by the
22commissioner of banking department, and has provided itself with suitable banking
23quarters, and has supplied the necessary books, forms, stationery, furniture and
24equipment for the proper and orderly transaction of the business of banking, it shall

---

1give notice in writing to the commissioner department that it is so prepared, and the
2commissioner department shall make or cause to be made an examination.

AB150,1999,114 221.06 (1) If such examination satisfies the commissioner department that
5such bank has complied with all provisions of the law, that the stock subscriptions
6have been fully paid in lawful money, and it appears that such bank is lawfully
7entitled to commence business, the commissioner department shall forthwith give
8such bank a certificate of authority under the commissioner's hand and official seal
9that such bank is authorized to commence business. The certificate of authority to
10commence business shall constitute the charter of the bank and shall be given a
11charter number by the commissioner department.

AB150,1999,1813 221.06 (2) If the commissioner department has reason to believe that the
14stockholders have formed the corporation for any other than the legitimate business
15contemplated by this chapter, or that any of the facts stated in the declaration are
16untrue, or that other reasons exist, which would make the opening of the bank
17injurious to the public interest, the commissioner department may, with the advice
18and consent of the attorney general, withhold the certificate herein mentioned.

AB150,2000,4 20221.07 Publication of certificate. The bank shall cause the certificate
21issued hereunder to be published as a class 1 notice, under ch. 985, in the city, village
22or town where the bank is located. Such notice shall be published within 15 days of
23the issuing of the certificate. Proof of publication shall be filed with the commissioner
24of banking department. In the event of any bank failing to comply with the
25provisions of this section the commissioner department shall cause the notice to be

---

1published and the bank shall be liable for the expense thereof, and in addition thereto
2such bank shall be subject to a penalty of $100, which amount shall be collected by
3the commissioner department, and when recovered shall be paid into the state
4treasury.

AB150,2000,156 221.08 (3) In the first instance, the directors shall be elected at the meeting
7held before the bank is authorized to commence business by the commissioner of
8banking department, and afterwards at the annual meeting of the stockholders
9which shall be held at a time established in the bylaws. Beginning with the annual
10meeting held in 1990, the bank shall include with each notice of an annual meeting
11delivered to shareholders copies for the 2 preceding fiscal years of the bank's balance
12sheets, statements of profit and loss and reconcilements of the bank's loan loss
13reserve. If for any reason an election is not had at that meeting, it may be held at
14a subsequent meeting called for that purpose, of which due notice shall be given as
15provided in the bylaws.

AB150,2001,217 221.08 (9) The board of directors shall meet at least once each month. At the
18monthly meeting they shall generally investigate the affairs of the bank and
19determine whether the assets are of the value at which they are carried on the books
20of the bank. The directors shall name a loan committee of 3 or more of its members,
21a majority of whom shall be other than active executives, except in 1st or 2nd class
22cities, or except when a majority of the directors are actively engaged in the bank's
23management. The committee shall meet at least once each month and shall
24determine policies as to renewals and applications for new loans. Any director who
25is found to be lax in attendance may be removed by the commissioner department

---

1and the vacancy shall be filled within a reasonable time as the commissioner
2department may direct.

AB150,2001,84 221.09 (1) (intro.) After receipt by the board of directors of a bank of each report
5of examination of the bank by the office of the commissioner department, the board
6or an examining committee appointed under sub. (2), unless the commissioner
7department requires response by the board as provided in s. 220.05 (5), shall do all
8of the following:

AB150,2001,1310 221.09 (5) The board of directors shall transmit the report prepared under sub.
11(1) (b) and the acknowledgments prepared under sub. (3) to the office of the
12commissioner department within 45 days after receipt by the board of each report
13of examination under sub. (1) (intro.).

AB150,2002,13 15221.12 Articles may be amended. A bank may amend its articles of
16incorporation in any manner not inconsistent with law, at any time, by a vote of its
17stockholders representing two-thirds of the capital stock taken at a meeting called
18for that purpose. The bank shall submit the amendment to the commissioner of
19banking department. The amendment is not effective unless approved by the
20commissioner department. The amendment may provide for a change of location of
21the bank. The amendment may provide for a change of the location of a parent bank
22to the location of a branch of the parent bank and a change of the location of a branch
23of the parent bank to the location of the parent bank if the change is first approved
24by the commissioner department upon application. The amendment, certified by the
25president or cashier, and setting forth the volume and page of recording in the office

---

1of the register of deeds of the original articles of incorporation, shall be recorded as
2required for articles of incorporation. No increase of the capital shall be valid until
3the amount of the increase has been subscribed and actually paid in. The entire
4surplus fund of a bank, or as much as may be required, may be declared and paid out
5as a stock dividend to apply on, and be converted into, an increase of capital. No
6reduction of capital shall be made to a less amount than is required under this
7chapter for capital, nor be valid or warrant the cancellation of stock certificates or
8diminish the personal liability of stockholders, until the reduction has been approved
9by the commissioner department. No reduction may be effected in any other way
10than by a proportional reduction of all outstanding shares unless approved by the
11commissioner department. The approval may be given only when the commissioner
12department is satisfied that the reduction of the capital is in the best interests of the
13depositors.

AB150,2002,2315 221.14 (1) Real estate necessary for the convenient transaction of its business,
16including with its banking offices other facilities to rent as source of income. No bank
17may invest in a banking office, including facilities connected with the office, together
18with furniture, equipment and fixtures, or become liable for it in a sum exceeding
1960% of its capital and surplus; but in lieu of this it may invest, with the approval of
20the commissioner of banking department, an amount not to exceed 40% of its capital
21and surplus in the stocks, bonds or obligations of a bank building corporation. Any
22bank not owning its banking offices may not invest in furniture, equipment and
23fixtures a sum exceeding 20% of its capital and surplus.

AB150,2003,8

---

1221.14 (4s) Real estate used as an attended or unattended remote facility for
2paying and receiving only. Remote facilities may be established only with specific
3approval by the commissioner department. The authority under this subsection is
4in addition to the authority to establish facilities that are attached to or a part of a
5bank or a branch bank. After July 31, 1989, and before February 1, 1990, a bank may
6inform the commissioner department in writing that it is converting a remote facility
7existing on August 1, 1989, into a branch bank, specifying the effective date of the
8conversion. An application fee is not required for a conversion under this subsection.

AB150,2003,1310 221.14 (5) Real estate purchased and held, subject to the approval of the
11commissioner of banking department, for the purpose of providing needed housing
12accommodations for its essential employes who are relocated by the bank, including
13purchasing the former residence of the relocated, essential employe.

AB150,2003,2115 221.14 (6) No real estate acquired under sub. (2), (3) or (5) may be held for a
16longer time than 5 years, unless an extension is granted by the commissioner
17department. If the extension is not granted, it must be sold at a private or public sale
18within one year thereafter. Nothing in this section may be construed to prevent a
19bank from lending moneys upon real estate security as provided by law. Real estate
20shall be conveyed under the corporate seal of the bank, and the hand of the president
21or vice president and cashier or assistant cashier.

AB150,2004,223 221.15 (1) Every bank shall make to the commissioner of banking department
24not less than 2 reports during each calendar year, at such times as the said
25commissioner department shall require the same, according to the forms which the

---

1commissioner department shall prescribe and furnish. Such forms shall conform as
2nearly as practicable to that now required of national banks, including the schedules.

AB150,2004,84 221.15 (3) Such report shall exhibit in detail and under proper heads, the
5resources and liabilities of the bank at the close of the business of any past day
6specified by the commissioner department, and shall be transmitted to the
7commissioner department within 30 days after the receipt of request therefor from
8the commissioner department.

AB150,2004,1310 221.15 (4) The most recent report filed under sub. (1) as of the last business day
11of the 4th calendar quarter shall be published by the bank as a class 1 notice, under
12ch. 985, where the bank is located, in the condensed form as the commissioner
13department prescribes. Each bank shall maintain proof of publication of the report.

AB150,2004,1915 221.15 (6) When requested by the commissioner department, any bank shall
16report to the commissioner on call by the commissioner, department a list of its
17stockholders, their residences, and the amount of stock held by each, which report
18shall be signed and verified by the oath or affirmation of one of the officers of said
19bank.

AB150,2004,2421 221.15 (7) The commissioner department shall also have the power to call for
22special reports from any bank whenever in the commissioner's department's
23judgment the same is necessary to inform the commissioner department fully of the
24condition of such bank.

AB150,2005,8

---

1221.16 One hundred dollars per day forfeiture. Every bank failing to
2make and transmit to the commissioner of banking department any of the reports
3or proofs of publication as required by this chapter shall be subject, at the discretion
4of the commissioner department, to a forfeiture of $100 for each day after the time
5required for making such reports. Whenever any bank fails or refuses to pay the
6forfeiture herein imposed for a failure to make and transmit such report, the
7commissioner department is hereby authorized to institute proceedings for the
8recovery of such forfeiture.

AB150,2005,20 10221.18 Inspection; refusal to permit; action to dissolve; prosecutions.
11Whenever any officer in charge of a bank refuses to submit the books, papers and
12concerns of such bank to the inspection of the commissioner of banking, the
13commissioner's deputy, or examiner appointed hereunder, department of financial
14institutions or refuses to be examined on oath touching the concerns of the bank, the
15commissioner department of financial institutions may inform the attorney general.
16The department of justice shall then institute an action to procure a judgment
17dissolving such corporation. In order to carry out this section the commissioner
18department may commence and maintain in the commissioner's department's name
19as commissioner of banking any and all actions necessary or proper to enforce this
20section.

AB150,2005,25 22221.19 Prosecutions. In order to carry out ss. 220.07, 220.08 and 221.18, the
23commissioner of banking department may commence and maintain in the
24commissioner's department's name any and all actions necessary or proper to enforce
25any of said sections.

AB150,2006,24 2221.205 Banks; disciplinary provisions. Whenever the commissioner of
3banking department shall have or receive information causing the commissioner
4department to believe that any bank, trust company bank, or any other corporation,
5limited liability company or association in respect to whose affairs or any part thereof
6the commissioner department has any supervision or control under the law, or any
7officer, employe, member or manager thereof has been guilty of a violation of any of
8the provisions of law or regulations or orders in execution thereof which subjects any
9such corporation, limited liability company or association or person to prosecution
10for a criminal offense or for recovery of penalty under the law, the commissioner
11department shall bring such facts and information to the attention of the banking
12review board with the commissioner's department's recommendation in writing as
13to action to be taken. Said banking review board shall, if in its judgment probable
14cause exists for believing that a criminal offense has been committed, or a penalty
15incurred, call the facts and information to the attention of the attorney general whose
16duty it shall be to cause prosecution or other action to be instituted if in the attorney
17general's judgment the facts warrant. Nothing herein contained shall be deemed to
18prevent the institution of any prosecution by any district attorney of this state with
19or without any advice or act on the part of the attorney general. Nothing herein
20contained shall preclude the commissioner of banking department, in any case
21where the commissioner department deems it important to act immediately, from
22causing any arrest and prosecution where the commissioner department is satisfied
23that there is reason to believe the offense has been committed and that prosecution
24should be immediately commenced.

AB150,2007,9

---

1221.21 When organized as national bank. Any bank organized under this
2chapter may reorganize under the laws of the United States as a national bank. As
3soon as such bank shall have obtained the certificate from the comptroller of the
4currency, authorizing it to commence business under the United States banking law,
5such reorganized bank shall take and hold all of the assets, real and personal, of such
6bank organized under this chapter, subject to all liabilities existing against said bank
7organized under this chapter at the time of such reorganization, and shall
8immediately notify the commissioner of banking department of such reorganization
9and transfer.

AB150,2007,25 11221.22 National banks may reorganize as state banks. Any national bank
12authorized to dissolve, and which shall have taken the necessary steps to effect
13dissolution, may reorganize under this chapter, upon the consent in writing of the
14owners of two-thirds of the capital stock of such bank, and with the approval of the
15commissioner of banking department. Such stockholders shall make, execute and
16acknowledge articles of organization as required by this chapter, and shall set forth
17the said written consent of such stockholders. A national bank seeking to reorganize
18under this section shall pay to the commissioner department a fee of $1,000 plus the
19actual costs incurred by the commissioner department in investigating the proposed
20reorganization. Upon the filing of the articles as provided by this chapter, and upon
21the approval of the commissioner department, such bank shall be deemed to be
22reorganized under this chapter, and thereupon all assets, real and personal, of such
23dissolved national bank shall be vested in and be and become the property of such
24reorganized bank, subject to all liabilities of such national bank not liquidated before
25such reorganization.

AB150,2008,7 2221.23 Consolidation of banks. A bank, which is in good faith winding up
3its business, for the purpose of consolidating with some other bank, may transfer its
4resources and liabilities to the bank with which it is in process of consolidation; but
5no consolidation shall be made without the consent of the commissioner of banking
6department, and not then to defeat or defraud any of the creditors in the collection
7of their debts against such banks, or either of them.

AB150,2008,159 221.24 (1) Any bank organized or doing business under this chapter may go
10into liquidation by a vote of its stockholders owning two-thirds of the capital stock.
11Whenever a vote is taken to go into liquidation, the board of directors shall give notice
12of this fact to the commissioner of banking department, and the notice shall be
13certified by the president or cashier under the seal of the bank. No liquidating bank
14may transfer assets or liabilities to another bank until the transfer is approved by
15the commissioner department.

AB150,2008,23 17221.245 Cancellation of charter of merged bank. Whenever any bank has
18merged or consolidated with or been absorbed by another bank, the commissioner of
19banking department may cancel the charter of the first mentioned bank after notice
20of proposed cancellation has been published as a class 3 notice, under ch. 985, in the
21county wherein the bank is located, unless written objections are filed with the
22commissioner department within a time specified in the notice stating grounds
23which the commissioner department deems sufficient.

AB150,2010,9

---

1221.25 (1) Any 2 or more banks may, with the approval of the commissioner of
2banking department, consolidate into one bank under the charter of either existing
3bank on such terms and conditions as may be lawfully agreed upon by a majority of
4the board of directors of each bank proposing to consolidate and be ratified and
5confirmed by the affirmative vote of the stockholders of each such bank owning at
6least two-thirds of its capital stock outstanding and at least two-thirds of any
7outstanding preferred stock having voting rights, at a meeting to be held on call of
8the directors, after sending notice of the time, place and object of the meeting to each
9shareholder of record by registered mail at least 30 days prior to said meeting;
10provided that the capital stock of such consolidated bank shall not be less than that
11required under existing law for the organization of a state bank in the place in which
12it is located. When such consolidation is approved by the commissioner department,
13any shareholder of either of the banks so consolidated who has not voted for such
14consolidation shall be given notice of the approval by the bank in which the
15shareholder holds an interest and of the shareholder's right to receive the appraised
16value for the shareholder's shares. If within 20 days after the date that notice of
17approval is mailed or delivered to a shareholder the shareholder notifies the
18directors of the bank in which the shareholder is interested that the shareholder
19dissents from the plan of consolidation as adopted and approved and desires to
20withdraw from such bank, the shareholder shall be entitled to receive in cash the
21value of the shares so held by the shareholder, to be ascertained by an appraisal made
22by a committee of 3 persons, one to be selected by the shareholders, one by the
23directors, and the 3rd by the 2 so chosen; the expense of such appraisal shall be borne
24by the bank; and in case the value so fixed shall not be satisfactory to the shareholder
25he or she may within 5 days after being notified of the appraisal appeal to the

---

1commissioner, who department, which shall cause a reappraisal to be made by an
2appraiser or appraisers to be named by said commissioner the department, which
3appraisal shall be final and binding, and if said reappraisal shall exceed the value
4fixed by said committee the bank shall pay the expense of reappraisal, otherwise the
5shareholder shall pay said expense, and the value so ascertained and determined
6shall be deemed to be a debt due and be forthwith paid to said shareholder from said
7bank, and the share or shares so paid shall be surrendered and after such notice as
8the board of directors may provide, be sold at public auction within 30 days after the
9final appraisement provided for by this section.

AB150,2010,2311 221.25 (3) The commissioner department may after consultation with the
12banking review board make recommendations to any bank or trust company within
13this state as to advisability of consolidation with other banks and may make
14recommendations as to terms for consolidation or merger of banks in order to avoid
15a condition of oversupply of banks in any community or area of the state. The
16commissioner department may also, if requested so to do, act as mediator or
17arbitrator to fix any of the terms of any such consolidation or merger. It shall be
18within the power of the board of directors of any bank or trust company organized
19under the laws of this state to appropriate a reasonable amount from the assets of
20the bank toward assisting in bringing about a consolidation or merger of banks or to
21aid in reorganization or in avoiding the closing of a bank where such action is deemed
22to be in the interests of safe banking and the maintenance of credit and banking
23facilities in the county in which such bank is located.

AB150,2011,4

---

1221.25 (4) Application for approval of a consolidation under sub. (1) shall be
2made on a form prescribed by the commissioner department. The application shall
3be accompanied by a fee of $5,000, except that if more than 3 banks are to be
4consolidated the fee is $5,000 plus $1,000 for each bank after the 3rd bank.

AB150,2011,21 6221.26 (title) Banks may be placed in hands of commissioner under
7department control. Any bank doing business under this chapter may place its
8affairs and assets under the control of the commissioner of banking department by
9posting a notice on its front door, as follows: "This bank is in the hands of the
10commissioner of banking department of financial institutions". Immediately upon
11posting such notice, the bank shall notify the commissioner department of such
12action. The posting of such notice, or the taking possession of any bank by the
13commissioner department, shall be sufficient to place all its assets and property of
14whatever nature in the possession of the commissioner department, and shall
15operate as a bar to any attachment proceedings. For each day the commissioner
16department is so placed in possession of the bank, and until such time as a special
17deputy commissioner of banking is appointed under s. 220.08 (4), the bank shall pay
18to the commissioner department the actual cost of such liquidation proceedings. All
19such fees shall be paid by the commissioner department to the state treasurer to be
20placed to the credit of s. 20.124 20.144 (1) (g) in the percentage specified in that
21paragraph.