186.13 Expulsion. The If the board of directors adopts a written policy, a credit union may expel a member from the credit union who if the member neglects or refuses to comply with this chapter or the credit union bylaws, or for any if the board has other just cause; but no member may be expelled until the member has been informed in writing of the charges against the member, and given an opportunity, after reasonable notice, to be heard thereon. The credit union shall provide notice to the member in writing of the reason for expulsion. The notice shall include a description of the member's right to a hearing. If a member requests a hearing in writing, the board shall give the member an opportunity to be heard on the expulsion within 90 days after the date of the expulsion notice.

186.14 (title) Expelled member , rights and liabilities. The amounts paid in on shares by members who have withdrawn or have been expelled shall be paid to them, but in the order of withdrawal or expulsion and only as funds therefor become available and after deducting any amounts due by said from the members to the credit union; but such expulsion. Expulsion or withdrawal shall not operate to relieve a member from any remaining liability to the credit union.

186.15 Auditing. (1) Annual audit. Except as provided in sub. (2), the board of directors shall hire a licensed public accountant or other qualified person to conduct a comprehensive annual audit of the records, accounts and affairs of the credit union.

(2) Audit committee. The board of directors may appoint an auditing committee of one or more capable persons to annually audit the records, accounts and cash of the credit union and to verify member accounts. Verification procedures shall be conducted according to the credit union's bylaws or the rules of the commissioner.

(3) Independent audit. The commissioner may order an independent audit at the credit union's expense if the commissioner finds an annual audit to be unsatisfactory.

(4) Audit reports. Audit reports under this section shall be submitted to the board of directors and retained as records of the credit union.

186.15 (2) Audit committee. The board of directors may appoint an auditing committee of one or more capable persons to annually audit the records, accounts and cash of the credit union and to verify member accounts. Verification procedures shall be conducted according to the credit union's bylaws or the rules of the commissioner office of credit unions.

(3) Independent audit. The commissioner office of credit unions may order an independent audit at the credit union's expense if the commissioner office of credit unions finds an annual audit to be unsatisfactory.

186.16 (1) (title) Board establishes dividends.

186.16 (2) (title) Maximum set by commissioner. The commissioner may establish the maximum dividend that a credit union and a corporate central credit union may pay in each classification of its savings.

186.16 (2) Maximum set by office of credit unions. The office of credit unions may establish the maximum dividend that a credit union and a corporate central credit union may pay in each classification of its savings.

186.17 (1) Regular reserves. Semiannually, a credit union shall determine its gross income. From gross income, the credit union shall transfer to regular reserve amounts required under a schedule set by the national board.

186.17 (2) (title) Special reserves. Special reserves may be required by the commissioner on an individual credit union basis for purchased accounts or when serious threat of impairment threatens regular reserve or for a corporate central credit union.

186.17 (2) Special reserves. Special reserves may be required by the office of credit unions on an individual credit union basis or for a corporate central credit union.

186.18 Dissolution. Upon the unanimous a two-thirds recommendation of the board of directors, the members may vote to dissolve the credit union. If a majority of the total membership vote by ballot, in person or by letter or other written communication in favor of dissolution, and if not more than the greater of 15 members or 10% of the total membership, whichever is greater, by written notice, vote against dissolution, the credit union shall be dissolved. If both the number of votes in favor of dissolution and the number of votes against dissolution are each less than 50% 25% of the total number of members, the board of directors may, with the permission of the commissioner, cause written notice to be mailed mail to each member at the member's last-known address a written notice which expressly states that the board's proposal to dissolve the credit union will be approved or disapproved at a special or annual meeting to be held at the time and place specified in the notice. The credit union shall be dissolved only if a majority of the members present at the meeting vote in favor of the board's proposal to dissolve the credit union. If the members vote to dissolve the credit union, a committee of 3 shall be elected by the members to liquidate the assets of the credit union. After assets are liquidated and debts paid, members shall be paid a liquidating dividend in proportion to their savings from remaining assets. The committee in charge of liquidation may sell or dispose of the assets in whole or in part at a public or private sale subject to confirmation by the board of directors and the commissioner.

186.18 Dissolution. Upon a two-thirds recommendation of the board of directors, the members may vote to dissolve the credit union. If a majority of the total membership vote by ballot, in person or by letter or other written communication in favor of dissolution, and if not more than the greater of 15 members or 10% of the total membership, by written notice, vote against dissolution, the credit union shall be dissolved. If both the number of votes in favor of dissolution and the number of votes against dissolution are each less than 25% of the total number of members, the board of directors may, with the permission of the office of credit unions, mail to each member at the member's last-known address a written notice which states that the board's proposal to dissolve the credit union will be approved or disapproved at a special or annual meeting to be held at the time and place specified in the notice. The credit union shall be dissolved only if a majority of the members present at the meeting vote in favor of the board's proposal to dissolve the credit union. If the members vote to dissolve the credit union, a committee of 3 shall be elected by the members to liquidate the assets of the credit union. After assets are liquidated and debts paid, members shall be paid a liquidating dividend in proportion to their savings from remaining assets. The committee in charge of liquidation may sell or dispose of the assets in whole or in part at a public or private sale subject to confirmation by the board of directors and the office of credit unions.

186.19 Bonding requirement. (1) Officer bonds. A credit union shall maintain the necessary bonds for officers according to standards prescribed by the national board.

(2) Director bonds. A credit union shall maintain the necessary bonds for directors according to standards prescribed in the bylaws.

186.21 (1) (title) Office to cooperate. It shall be the duty of the office of the commissioner of credit unions to promote the extension of credit at the lowest possible rates and cooperate with every group of people who may be or may become that is interested in the formation and development of, or in an affiliation with, a credit union in this state for that purpose, and it. The commissioner's office may do all things reasonably necessary for the discharge of this duty.

186.21 (1) Office to cooperate. It shall be the duty of the office of credit unions to cooperate with every group of people that is interested in the formation of, or in an affiliation with, a credit union in this state. The office of credit unions may do all things reasonably necessary for the discharge of this duty.

186.21 (2) (title) Advertising. The office of the commissioner of credit unions shall carry on use advertising of whatever character that is most suitable and effective to acquaint the people of this state with the agencies and organizations dealing in consumer credit, and of the rates of interest, the condition of loans, the benefits and safeguards and the savings features of each such type, agency and organization with credit unions.

186.21 (2) Advertising. The office of credit unions shall use advertising that is suitable and effective to acquaint the people of this state with the agencies and organizations dealing with credit unions.

186.21 (3) (title) Consultations. The office of the commissioner of credit unions shall further offer without charge to any group, either joined in a credit union or considering such an organization, whatever advice and direction on accounting practice practices and managerial problems that may be needful.

186.21 (3) Consultations. The office of credit unions shall offer without charge to any group, either joined in a credit union or considering such an organization, advice and direction on accounting practices and managerial problems.

186.21 (4) (title) Materials. The office of the commissioner of credit unions shall provide application blanks, model bylaws, and whatever other material may be needful or helpful materials to help in the organization, efficient functioning and expansion of credit unions.

186.21 (4) Materials. The office of credit unions shall provide application blanks, model bylaws and other materials to help in the organization, efficient functioning and expansion of credit unions.

186.22 (11) Oath of directors. Each director, when appointed or elected, shall take an oath that the director will, so far as the duty devolves upon the director requires, diligently and honestly administer the affairs of the credit union finance corporation, and will not knowingly violate, or willingly permit to be violated, any of the provisions of law applicable to such the corporation, and that the director is the owner, in good faith and in the director's own right on the books of the nominating credit union which nominated the director, of shares in value of not less than $100, or other shares of the withdrawal value of $100, and that the same is shares are not hypothecated, or in any way pledged as security for any loan or debt and, in case of reelection that such share was the shares were not hypothecated or in any way pledged as security for any loan or debt during the director's previous term. Such The oath shall be subscribed by the directors and officers making it, and certified by an officer authorized by law to administer oaths, and immediately transmitted to the commissioner.

186.22 (11) Oath of directors. Each director, when appointed or elected, shall take an oath that the director will, so far as duty requires, diligently and honestly administer the affairs of the credit union finance corporation, and will not knowingly violate, or willingly permit to be violated, any of the provisions of law applicable to the corporation, and that the director is the owner, in good faith and on the books of the nominating credit union, of shares in value of not less than $100, or other shares of the withdrawal value of $100, and that the shares are not hypothecated, or in any way pledged as security for any loan or debt and, in case of reelection that the shares were not hypothecated or in any way pledged as security for any loan or debt during the director's previous term. The oath shall be subscribed by the directors and officers making it, and certified by an officer authorized by law to administer oaths, and immediately transmitted to the office of credit unions.

186.235 (8) (title) Rules and regulations. The commissioner shall, with the approval of the credit union review board, issue orders prescribing reasonable promulgate rules and regulations in conducting relating to the business of credit unions or corporations operating as provided in this chapter and it may in like manner issue orders amending, modifying, repealing or supplementing rules or orders. The violation of any such rule may be cause for the removal of any officer, director or employe of any credit union or corporation.

186.235 (title) Office of credit unions.

186.235 (1) Supervision. A credit union shall be under the control and supervision of the commissioner.

186.235 (1) Supervision. A credit union shall be under the control and supervision of the commissioner office of credit unions.

186.235 (2) Enforcement. The office of credit unions shall enforce this chapter and other laws relating to credit unions.

186.235 (3) Full-time duties. The commissioner and deputy commissioner shall devote full time to their respective positions.

186.235 (3) Full-time duties. The commissioner and deputy commissioner administrator of the office of credit unions shall devote full time to their respective positions his or her position.

186.235 (3m) Conflicts of interest. The commissioner, or any employe of the office of the commissioner, may not serve as a director or officer of a credit union or any other organization that is under the supervision of the office of the commissioner.

186.235 (3m) Conflicts of interest. The commissioner, or any No employe of the office of the commissioner, credit unions may not serve as a director or officer of a credit union or any other organization that is under the supervision of the office of the commissioner credit unions.

186.235 (4) Bond required. A person who is appointed to or employed by the office of the commissioner shall furnish a surety bond in an amount authorized by the commissioner.

186.235 (4) Bond required. A person who is appointed to or employed by the office of the commissioner credit unions shall furnish a surety bond in an amount authorized by the commissioner office.

186.235 (5) (title) Immunity of commissioner office of credit unions. The commissioner office of credit unions shall not be subject to any civil liability or penalty, or to any criminal prosecution, for any error in judgment or discretion made in good faith and upon reasonable grounds in any action taken or omitted by the commissioner office of credit unions in an official capacity.

186.235 (7) (a) (intro.) The commissioner, all other officers and employes Employes of the office of the commissioner, credit unions and members of the review board shall keep secret all the facts and information obtained in the course of examinations, except in any of the following situations:

186.235 (7) (b) Notwithstanding par. (a) and unless otherwise provided by rule, the commissioner office of credit unions may do any of the following:

1. Furnish to the national board a copy of any examination made by the commissioner's office of credit unions of any credit union or of any report made by the credit union.

2. Give access to and disclose to the national board any information possessed by the commissioner office of credit unions about the conditions or affairs of any credit union whose savings are insured by federal share insurance.

186.235 (8) Rules. The office of credit unions shall, with the approval of the credit union review board, promulgate rules relating to the business of credit unions.

186.235 (9) Charter revocation. The commissioner shall report to the department of justice any credit union that conducts its business in violation of this chapter. The department of justice may bring an action to revoke the credit union's articles of incorporation.

186.235 (9) Charter revocation. The commissioner office of credit unions shall report to the department of justice any credit union that conducts its business in violation of this chapter. The department of justice may bring an action to revoke the credit union's articles of incorporation.