Wis. Admin. Code Department of Financial Institutions § DFI-SB 17.03 - Filing applications
(1) APPLICATION. An application filed under
s. DFI-SB 17.02 shall indicate the trust services the savings bank wishes to
offer and provide the information necessary to make the determinations under
sub. (2).
(2) FACTORS CONSIDERED.
Factors the division will consider in acting upon an application to exercise
trust powers include, but are not limited to, the following:
(a) The financial condition of the savings
bank, except trust powers may not be granted to a savings bank if its financial
condition is such that the savings bank does not meet the financial standards
required of state chartered corporate fiduciaries;
(b) The needs of the community for fiduciary
services and the probable volume of fiduciary business available to the savings
bank.
(c) The general character and
ability of the management of the savings bank;
(d) The nature of the supervision to be given
to the fiduciary activities, including the qualifications, experience and
character of the proposed officers of the trust department; and
(e) Whether the savings bank has available
legal counsel to advise and pass upon fiduciary matters.
Notes
This section parallels 12 CFR 550.2 and s. DFI-SL 17.03.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.