221.0302 Branch banks and other facilities.
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221.0302 Branch banks and other facilities.
(1g)Definitions. In this section:
(a)“Affiliate” means any company that directly or indirectly controls, or is under common control with, another company.
(b)“Bank holding company” has the meaning given in 12 USC 1841 (a).
(c)“Commercial activities” means those activities in which a bank holding company, financial holding company, national bank, state bank, as defined in s. 221.0903
(e), or state bank certified under ch. 222 as a universal bank are not authorized to engage under federal or state law.
(d)“Company” has the meaning given in s. 221.0901
(f).
(e)“Financial holding company” has the meaning given in 12 USC 1841 (p).
(1m)Establishment. A bank may establish and maintain a branch bank or joint branch bank with the approval of the division.
(2)Conversion. A bank may be converted to a branch bank of the surviving bank of a merger or consolidation under s. 221.0702 . A branch of a bank converted into a branch bank becomes a branch of the surviving bank.
(3)Transfer. A bank may transfer a branch bank to any other bank located in this state with the approval of the division. A bank may transfer a branch bank to a bank located in another state only if the division has determined under s. 221.0904
(b)that the state’s laws are reciprocal regarding establishing branches.
(4)Out-of-state branches. A bank may establish a branch bank in another state with the approval of the division.
(5)Activities not considered branch banking. The following activities do not constitute the establishment or maintenance of a branch bank or a joint branch bank: