221.0320 Limit of loans and investments.
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/wi/chapter-221/221-0320-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
221.0320 Limit of loans and investments.
(1)In general. Except as provided in subs.
(2)to
(8)and s. 221.0319
(3), the total liabilities of any person, other than a municipal corporation, to a bank for money borrowed may not, at any time, exceed 20 percent of the capital of the bank. In determining compliance with this section, the total liabilities of a partnership includes the liabilities of the general partners of the partnership, computed individually as to each general partner on the basis of his or her direct liability.
(2)Warehouse receipts and certain bonds and notes. The percentage limitation under sub.
(1)is 50 percent of the bank’s capital, if the liabilities under sub.
(1)are limited to the following types of liabilities:
(a)A liability secured by warehouse receipts issued by warehouse keepers licensed and bonded in this state under ss. 99.02 and 99.03 or under the federal bonded warehouse act or holding a license under s. 126.26 , if all of the following requirements are met:
1. The receipts cover readily marketable nonperishable staples.