Wis. Admin. Code Department of Financial Institutions DFI-SB 2.06 - Communications with members
(1) RIGHT TO
COMMUNICATE. Each member of a mutual savings bank may communicate with other
members of the savings bank with reference to any question pending or to be
presented at an annual or special meeting.
(2) REQUEST TO THE SAVINGS BANK. A member
wishing to communicate with other members may request the savings bank in
writing to provide the member with the approximate number of members of the
savings bank and the estimated cost that would be incurred by the savings bank
in handling and mailing a proposed communication. The savings bank shall reply
within 5 business days after receipt of the request.
(3) NOTICE TO DIVISION OF BANKING.
(a) A member wishing to communicate with
other members shall submit to the division a signed request containing:
1. The requester's full name and
address.
2. The nature and extent
of his or her interest in the savings bank.
3. A statement of the meeting date, a copy of
the communication, and reason for or the purpose of the communication
requested.
(b) The
request in par. (a) shall be furnished to the division not less than 10 days
before the meeting at which the subject of the communication is to be presented
for consideration.
Note: Address complaints to the Department of Financial Institutions, Division of Banking, 4822 Madison Yards Way, North Tower, 5th Floor, PO Box 7876, Madison, WI 53707-7876.
(4) DIVISION'S REVIEW. If the
division finds the communication not appropriate or accurate,the division
shall, within 5 business days after the receipt of the request, notify the
requester of the division's decision and the reason for it. If the division
finds the communication to be appropriate and accurate, the division shall
within 5 business days after receipt of the request direct the savings bank to
prepare and mail the communication to the members upon the requester's payment
or adequate provision for payment of the expenses of preparation and
mailing.
(5) SAVINGS BANK'S
RESPONSE.
(a) Within 5 business days after
receiving request and the division's positive determination under sub. (4), and
of payment or adequate provision for payment of the expenses of preparation and
mailing, the savings bank shall do the mailing.
(b) If circumstances beyond the savings
bank's control are anticipated to prevent mailing the proposed communication in
time for it to be received by members prior to a meeting indicated by the
requester, the savings bank shall so notify the division and the requester
promptly and include an explanation.
Notes
This section interprets or implements s. 214.37(5), Stats.
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