Wisconsin Statutes & Annotations
Chapter 214 - Savings banks.
214.34 - Bonds of officers and directors.

214.34 Bonds of officers and directors.
(1) Every person appointed or elected to any position requiring the receipt, payment, management or use of savings bank money, or whose duties permit or require access to or custody of savings bank money or securities, or whose duties permit the regular making of entries in the books or other records of the savings bank, shall be bonded by a trust or company authorized to issue bonds in this state or by a fidelity insurance company licensed to do business in this state. A bond shall be in a form prescribed by the division and in an amount fixed by the board of directors. A bond shall be payable to the savings bank to indemnify the savings bank for any loss the savings bank may sustain through any dishonest or criminal act or omission by the bonded person, whether committed alone or in concert with others. A bond shall provide that cancellation of the bond by the surety or by the insured is not effective before 30 days' written notice is given to the division, unless the division approves an earlier cancellation.
(2) Notwithstanding sub. (1), the division may proceed against a savings bank if the division believes that the business of the savings bank is being conducted in an unsafe or unsound manner or that the form or amount of bonds approved by the board of directors is inadequate to give reasonable protection to the savings bank.
History: 1991 a. 221; 1995 a. 27.

Structure Wisconsin Statutes & Annotations

Wisconsin Statutes & Annotations

Chapter 214 - Savings banks.

214.01 - Definitions.

214.015 - Administration.

214.02 - Applicability.

214.025 - Insurance of accounts.

214.03 - Parity.

214.035 - Use of name.

214.04 - General corporate powers.

214.045 - Status as internal revenue service qualified thrift lender.

214.06 - Branch offices.

214.07 - Authorized activities.

214.08 - Registration.

214.085 - Reporting requirements.

214.09 - Acquisitions.

214.095 - Reorganization as a holding company.

214.15 - Definitions.

214.155 - In-state institutions.

214.16 - In-state holding companies.

214.165 - Regional institutions and regional holding companies.

214.17 - Limitations.

214.175 - Condition on acquisition.

214.18 - Standards for disapproval.

214.185 - Exceptions.

214.19 - Branching not limited.

214.195 - Subchapter severability.

214.20 - Divestiture.

214.24 - Application for permission to organize.

214.245 - Content of application to organize.

214.25 - Articles of incorporation.

214.255 - Bylaws.

214.26 - Application review.

214.265 - Temporary organization and capital subscriptions.

214.27 - Completion of organization.

214.275 - Appeal of denial.

214.30 - Membership.

214.305 - Annual and special meetings.

214.31 - Notice of meetings.

214.315 - Quorum for annual or special meetings.

214.32 - Voting.

214.325 - Record date for voting and other purposes.

214.33 - Proxies.

214.335 - Directors.

214.34 - Bonds of officers and directors.

214.342 - Officers.

214.345 - Conduct of directors and officers.

214.37 - Access to books and records; communication with members and stockholders.

214.375 - Closing books.

214.40 - Minimum capital.

214.405 - Evidence of capital.

214.41 - Capital stock; nature.

214.42 - Retirement or reduction of capital stock.

214.43 - Capital maintenance.

214.435 - Dividends.

214.44 - Loans or discounts on capital stock.

214.48 - General provisions.

214.485 - Investment in loans.

214.49 - Other investments.

214.495 - Lien priority; advances.

214.50 - General loan contract provisions.

214.502 - Nonconforming loans.

214.505 - Modification agreements.

214.507 - Customer access to credit reports.

214.509 - Record search.

214.51 - Sale, assignment, and servicing of loans and contracts.

214.515 - Purchase of real estate at forced sale.

214.52 - Purchase of real estate for office and rental purposes.

214.525 - Prohibited loans.

214.53 - Effect of unauthorized investments.

214.54 - Loans to one borrower.

214.545 - Rules.

214.57 - Deposit accounts.

214.575 - Deposit accounts subject to liens.

214.58 - Payment of interest.

214.585 - Holders of deposit accounts.

214.59 - Prohibited activities.

214.592 - Financially related services tie-ins.

214.595 - Savings promotion prize programs.

214.62 - Merger; adoption of plan.

214.625 - Merger; stockholder vote of approval.

214.63 - Merger; certificate.

214.635 - Effect of merger.

214.64 - Merger; expenses.

214.645 - Sale of assets.

214.65 - Procedure to effect sale of all assets.

214.655 - Authority to form interim institution.

214.66 - Conversion of an existing institution to a savings bank.

214.665 - Emergency merger.

214.67 - Emergency sale of assets.

214.675 - Acquisition of control.

214.68 - Jurisdictional conversion.

214.685 - Organizational conversion of mutual savings bank to stock savings bank.

214.715 - Powers of the division.

214.72 - Prohibited business relationships.

214.725 - Examination.

214.735 - Examination report.

214.74 - Orders of the division.

214.745 - Division's notice to members or stockholders.

214.75 - Record keeping and retention.

214.755 - Disclosure of examination reports and other records.

214.76 - Annual audit requirement.

214.765 - Unsafe and unsound practices; orders of prohibition and removal.

214.772 - Foreign savings banks.

214.775 - Procedure upon the impairment of capital.

214.78 - Review board.

214.785 - Review of acts, orders or determinations.

214.82 - Division's authority to take custody and appoint a conservator or a receiver.

214.825 - Purposes of taking custody.

214.83 - Division's powers during custody.

214.835 - Custody of savings banks.

214.84 - Notice of custody; action to enjoin.

214.845 - Segregation of collections during custody.

214.85 - Redelivery of possession.

214.855 - Limitations upon custody.

214.90 - Action to correct conditions.

214.905 - Books and records corrective orders.

214.91 - Removal and prohibition authority.

214.915 - Participation prohibition.

214.92 - Effect of termination or resignation.

214.925 - Unauthorized participation by convicted individual.

214.93 - False statements.

214.935 - Civil forfeitures.