186.03 Use of name exclusive.
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/wi/chapter-186/186-03-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
186.03 Use of name exclusive.
(1)Limits. A person may not use a name containing the phrase “credit union”, represent itself as a credit union or conduct business as a credit union unless the person is any of the following:
(a)A credit union.
(b)An association of credit unions.
(c)An organization, association or corporation whose membership or ownership is primarily confined or restricted to credit unions.
(2)Use required. A credit union shall use the phrase “credit union” in its corporate name.
(3)Name approval. The office of credit unions shall approve a credit union’s name before the name is officially adopted. A credit union may not adopt the name of another credit union doing business in this state.
(4)Penalty. Whoever violates this section may be fined not more than $5,000.