Section 7.04. Other plans.

Latest version.

(1) Except as provided by s. DFI-SL 7.03 and sub. (2) , an association may enter into a pension plan or deferred compensation agreement, or otherwise provide retirement benefits, only for active or retired full-time officers or employes and not for directors of the association and only if the division and the review board give prior specific approval of each plan or agreement.

(2) Full-time officers and employes of an association's subsidiaries may be included under an association's pension plan or deferred compensation agreement if the subsidiary pays its pro rata share of costs incurred.

History: Cr. Register, June, 1989, No. 402 , eff. 7-1-89.

Note

This section interprets or implements s. 215.50 (7) , Stats. Microsoft Windows NT 6.1.7601 Service Pack 1

                    
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