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Register January 2006 No. 601
Chapter DFI-SB 11
DFI-SB 11.01   Real estate owned and other repossessed assets.
Ch. DFI-SB 11 Note Note: Chapter SB 11 was renumbered ch. DFI-SB 11 under s. 13.93 (2m) (b) 1., Stats., and corrections made under s. 13.93 (2m) (b) 6. and 7., Stats., Register, November, 1997, No. 503.
DFI-SB 11.01 DFI-SB 11.01Real estate owned and other repossessed assets.
DFI-SB 11.01(1)(1) Value carried on books. Real estate and other assets repossessed by a savings bank shall be carried on the books at their estimated market value and in accordance with generally accepted accounting principles.
DFI-SB 11.01(2) (2)Appraisals. When real estate is repossessed, the savings bank shall have it appraised. The real estate shall be subsequently reappraised if:
DFI-SB 11.01(2)(a) (a) There is a material change in its use or condition; or
DFI-SB 11.01(2)(b) (b) Reappraisal is ordered by the division.
DFI-SB 11.01 Note Note: This section interprets or implements ss. 214.515 and 214.715, Stats.
DFI-SB 11.01 History History: Cr. Register, February, 1994, No. 458, eff. 3-1-94.
Published under s. 35.93, Stats. Updated on the first day of each month. Entire code is always current. The Register date on each page is the date the chapter was last published.