Section 2.06. Communications with members.

 

(1)   Right to communicate. Each member of a mutual savings bank may communicate with other members of the savings bank with reference to any question pending or to be presented at an annual or special meeting. 

(2)   Request to the savings bank. A member wishing to communicate with other members may request the savings bank in writing to provide the member with the approximate number of members of the savings bank and the estimated cost that would be incurred by the savings bank in handling and mailing a proposed communication. The savings bank shall reply within 5 business days after receipt of the request.

(3)   Notice to commissioner.

(a) A member wishing to communicate with other members shall submit to the division a signed request containing:

1. The requester's full name and address.

2. The nature and extent of his or her interest in the savings bank.

3. A statement of the meeting date, a copy of the communication, and reason for or the purpose of the communication requested.

(b) The request in par. (a) shall be furnished to the division not less than 10 days before the meeting at which the subject of the communication is to be presented for consideration.

(4)   Division's review. If the division finds the communication not appropriate or accurate,the division shall, within 5 business days after the receipt of the request, notify the requester of the division's decision and the reason for it. If the division finds the communication to be appropriate and accurate, the division shall within 5 business days after receipt of the request direct the savings bank to prepare and mail the communication to the members upon the requester's payment or adequate provision for payment of the expenses of preparation and mailing.

(5)   Savings bank's response.

(a) Within 5 business days after receiving request and the commissioner's positive determination under sub. (4) , and of payment or adequate provision for payment of the expenses of preparation and mailing, the savings bank shall do the mailing.

(b) If circumstances beyond the savings bank's control are anticipated to prevent mailing the proposed communication in time for it to be received by members prior to a meeting indicated by the requester, the savings bank shall so notify the division and the requester promptly and include an explanation.

Cr. Register, February, 1994, No. 458 , eff. 3-1-94.

Note

Address complaints to the Department of Financial Institutions, Division of Banking, 201 W. Washington Ave., Suite 500, PO Box 7876, Madison, WI 53707-7876. Microsoft Windows NT 6.1.7601 Service Pack 1 This section interprets or implements s. 214.37 (5) , Stats. Microsoft Windows NT 6.1.7601 Service Pack 1