186.45 Non-Wisconsin credit union, Wisconsin offices.
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/wi/chapter-186/186-45-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
186.45 Non-Wisconsin credit union, Wisconsin offices.
(1)Definitions. In this section:
(a)“Non-Wisconsin credit union” means a credit union organized under the laws of and with its principal office located in a state other than this state.
(b)“Wisconsin credit union” has the meaning given in s. 186.41
(bm).
(2)Approval. A non-Wisconsin credit union may open an office and conduct business as a credit union in this state if the office of credit unions finds that Wisconsin credit unions are allowed to do business in the other state under conditions similar to those contained in this section and that all of the following apply to the non-Wisconsin credit union:
(a)It is a credit union organized under laws similar to the credit union laws of this state.
(b)It is financially solvent based upon national board ratings.
(c)It has member savings insured with federal share insurance.
(d)It is effectively examined and supervised by the credit union authorities of the state in which it is organized.