215.32 Possession by division; involuntary liquidation.
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/wi/chapter-215/215-32-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
215.32 Possession by division; involuntary liquidation.
(1)Definition. In this section, “circuit court” means the circuit court of Dane County, notwithstanding s. 801.50 .
(1m)Conditions for taking possession. The division may take possession of the business and property of any association to which this chapter applies if the division finds that the association:
(a)Is conducting its business contrary to law; or
(b)Has violated its charter or any law; or
(c)Is conducting its business in an unauthorized or unsafe manner; or
(d)Is in an unsound or unsafe condition to transact its business; or
(e)Has an impairment of its savings accounts; or
(f)Cannot with safety and expediency continue business; or