State Codes and Statutes

State Codes and Statutes

Statutes > Wisconsin > 221 > 221.0637

221.0637

221.0637 Bank officers and employees not to take commissions.

221.0637(1)

(1) Commissions prohibited. An officer, director, agent or employee of a bank may not, directly or indirectly, take, accept or receive, or offer or agree to take, accept or receive, a commission, fee, compensation, or thing of material value, from any person in consideration of the bank of which he or she is an officer, director, agent or employee, doing any of the following:

221.0637(1)(a)

(a) Loaning any money to a person.

221.0637(1)(b)

(b) Buying or discounting a note, bond, draft, or bill of exchange from the person.

221.0637(1)(c)

(c) Accepting any draft for, or issuing any letter of credit to, the person.

221.0637(2)

(2) Penalties. Any person who violates sub. (1) is guilty of a Class I felony.

221.0637 - ANNOT.

History: 1995 a. 336; 1997 a. 283; 2001 a. 109.