222.0207 Voluntary termination of certification. A financial institution that is certified as a universal bank under this chapter may elect to terminate its certification by giving 60 days' prior written notice of the termination to the division. A termination under this section is effective only with the written approval of the division. A financial institution shall, as a precondition to termination under this section, terminate its exercise of all powers granted under this chapter before the termination of the certification. The division's written approval of a financial institution's termination under this section is void if the financial institution fails to satisfy the precondition to termination under this section.
History: 2003 a. 63.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 222 - Universal banks.
222.0205 - Certificate of authority.
222.0207 - Voluntary termination of certification.
222.0301 - Articles of incorporation and bylaws.
222.0305 - Capital and assets.
222.0307 - Acquisitions, mergers, and asset purchases.
222.0401 - Federal financial institution powers.
222.0407 - Universal bank purchase of its own stock.
222.0409 - Stock in bank-owned banks.