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Code · Wisconsin · Chapter 214 — Savings banks

214.20 Divestiture.

115 words·~1 min read·/wi/chapter-214/214-20-5

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

214.20 Divestiture. A savings bank holding company that ceases to be an in-state savings bank holding company or regional holding company shall immediately notify the division of the change in its status and shall, as soon as practical and no later than 2 years after the event causing it to no longer be one of these entities, divest itself of control of all in-state savings banks and in-state savings bank holding companies. A savings bank holding company that fails to immediately notify the division shall be subject to a forfeiture of $500 per day, beginning on the day its status changes and ending on the day the division receives notification.
SUBCHAPTER IV
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