State Codes and Statutes

State Codes and Statutes

Statutes > Wisconsin > 215 > 215.35

215.35

215.35 Conversion; or absorption; waiver.

215.35(1)

(1) The division may waive any portion of s. 215.53, 215.57, 215.58, 215.73 or 215.77 if the division makes written findings of both of the following:

215.35(1)(a)

(a) The net worth of an association is equal to less than one percent of the assets of the association or is reasonably expected to be less than one percent within one year.

215.35(1)(b)

(b) The waiver is in the best interest of savers of the association and the public.

215.35(2)

(2)

215.35(2)(a)

(a) An acquisition under this section is not subject to s. 215.36.

215.35(2)(b)

(b) Section 215.36 does not limit any authority of the federal regulatory agency or deposit insurance corporation in connection with an acquisition under this section.

215.35 - ANNOT.

History: 1983 a. 167, 538; 1985 a. 325; 1995 a. 27, 104.