Wisconsin Administrative Code
Department of Financial Institutions
DFI-SB 1-22 - Department of Financial Institutions-Savings Banks
Chapter DFI-SB 22 - Savings Bank Mutual Holding Companies
Section DFI-SB 22.09 - Articles of incorporation and bylaws of mutual holding companies

Universal Citation: WI Admin Code ยง DFI-SB 22.09

Current through February 26, 2024

(1) MODEL ARTICLES AND BYLAWS. The articles of incorporation and bylaws of a mutual holding company shall be in a form approved by the division. The division may establish and require a specific form for the articles of incorporation or bylaws or both of a mutual holding company.

(2) FILING. Duplicate originals of the articles of incorporation and bylaws of a mutual holding company and any amendments to them shall be filed with and approved by the division. Upon their approval they shall be recorded in the office of the register of deeds in the county in which the mutual holding company has its principal place of business.

(3) EFFECTIVE DATE.

(a) Articles of incorporation. The effective date of the articles of incorporation and amendments to them shall be the date of recording in the office of the register of deeds or a later date if the document provides one.

(b) Bylaws. The effective date of bylaws or any amendment to the bylaws is the date of written approval by the division or a later date if the document provides one.

(4) AVAILABILITY OF ARTICLES AND BYLAWS.

(a) Holding company. A mutual holding company shall make available to its members during regular office hours in each office of each subsidiary savings bank from which the mutual holding company draws members a copy of its articles of incorporation and bylaws, including any amendments, and shall deliver a copy to any member upon request without charge.

(b) Savings bank. A savings bank that is a subsidiary of a mutual holding company shall make available to any requesting stockholder or any member of its parent mutual holding company, at each office in which it transacts business, a copy of its articles of incorporation and bylaws, including any amendments, for inspection or retention or both without charge.

This section interprets or implements s. 214.095, Stats.

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