Register January 2006 No. 601
Chapter DFI-SB 14
REAL ESTATE INVESTMENTS
DFI-SB 14.01 Real estate investments limited.
Ch. DFI-SB 14 Note
Note: Chapter SB 14 was renumbered ch. DFI-SB 14 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 14.01(1)(1)
“Real estate investment" defined. A savings bank's real estate investment includes:
DFI-SB 14.01(1)(a)
(a) Funds advanced for the purchase, development and operation of real estate.
DFI-SB 14.01(1)(c)
(c) Mortgage loans, commercial loans, loan guarantees and letters of credit related to underlying real estate in which the savings bank has invested.
DFI-SB 14.01(1)(e)
(e) Any other savings bank obligation for direct or contingent payment of debt relating to the real estate project.
DFI-SB 14.01(2)
(2) Real estate investment conditions. A savings bank may make a real estate investment if:
DFI-SB 14.01(2)(a)
(a) The division gives prior written approval after reviewing a feasibility study, a recent appraisal provided by the savings bank and other information which he or she may require; and
DFI-SB 14.01(2)(b)
(b) The savings bank's real estate investment does not directly or indirectly benefit an officer, director or employee of the savings bank or of its holding company if any or a subsidiary in excess of reasonable employment compensation unless the division gives prior written approval.
DFI-SB 14.01(3)
(3) Exception. This section does not apply to a real estate investment permitted under s.
214.52, Stats.
DFI-SB 14.01 Note
Note: This section interprets or implements s.
214.49, Stats.
DFI-SB 14.01 History
History: Cr.
Register, February, 1994, No. 458, eff. 3-1-94.
