Section 3.01. Bank-owned banks, lending and depository authority.  


Latest version.
  • (1)  A bank-owned bank organized under s. 221.1202 , Stats., may provide banking and bank related services to or for all of the following:
    (a) Subsidiaries or organizations owned by depository institutions;
    (b) Directors, officers or employees of depository institutions, including any subsidiary or organization owned by a depository institution;
    (c) Depository institution trade associations; and
    (d) Depository institutions or their holding companies.
    (2)  A bank-owned bank organized under s. 221.1202 , Stats., may provide correspondent banking services at the request of other depository institutions or their holding companies.
History: Cr. Register, September, 1982, No. 321 , eff. 10-1-82 ; am. (intro.), (2) and (3), cr. (4), Register, February, 1994, No. 458 , eff. 3-1-94; renum. 3.01 to be (1) and am. (1) (intro.) and (d), cr. (2), Register, March, 1996, No. 483 , eff. 4-1-96; corrections in (1) (intro.) and (2) made under s. 13.93 (2m) (b) 7., Stats., Register October 2001 No. 550 .