Wis. Admin. Code Department of Financial Institutions § DFI-Bkg 8.01 - Definitions

Current through March 28, 2022

(1) "Branch" means a permanent, attended banking facility authorized pursuant to s. 221.0302, Stats., which has no legal identity, assets or liabilities separate from the home office and which accepts deposits, cashes checks, lends money or provides trust services. The term does not include the home office of a bank, a customer bank communications terminal or a night depository.

(2) "Home office" means a bank chartered pursuant to s. 221.0208, Stats., which owns and operates one or more branches.

(3) "Paying and receiving station" means a permanent, attended facility authorized pursuant to s. 221.0301(7), Stats., to cash checks, accept deposits, make withdrawals or accept loan payments or an unattended night depository.

(4) "Joint branch bank" means a permanent, attended, banking facility authorized pursuant to s. 221.0302, Stats., by which 2 or more banks agree to provide banking services at one location.

(5) "Pick up deposits and deliver money" means an activity or service authorized pursuant to s. 221.0302(5), Stats., to pick up deposits and deliver coin and currency to bank customers at a designated location. Such a service is not to be construed as branch banking. No paying and receiving activities, lending of money or trust services are to be provided in conjunction with such activity or service. Deposits picked up during such activity or service are not considered accepted until delivered to a teller on the bank's premises.

(6) "Locations," for purposes of s. 221.0302(5), Stats., means specific fixed locations or sites as designated by the bank.

Notes

Wis. Admin. Code Department of Financial Institutions § DFI-Bkg 8.01

CR Register, April, 1985, No. 352, eff. 5-1-85; am. (1), CR (3) to (6), Register, August, 1990, No. 416, eff. 9-1-90; corrections made under s. 13.93(2m) (b) 7, Stats., Register April, 2001, No. 544.