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Register January 2006 No. 601
Chapter DFI-SB 7
EMPLOYMENT CONTRACTS AND COMPENSATION
DFI-SB 7.01   Employment contracts.
DFI-SB 7.02   Plans for the deferral of earned income.
DFI-SB 7.03   Other plans.
Ch. DFI-SB 7 Note Note: Chapter SB 7 was renumbered ch. DFI-SB 7 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 7.01 DFI-SB 7.01 Employment contracts. A savings bank may enter into an employment contract with its officer or employee. No employment contract may exceed 5 years in duration.
DFI-SB 7.01 Note Note: This section interprets or implements ss. 214.342 and 214.345, Stats.
DFI-SB 7.01 History History: Cr. Register, February, 1994, No. 458, eff. 3-1-94.
DFI-SB 7.02 DFI-SB 7.02 Plans for the deferral of earned income. A savings bank may contract with any of its officers, directors or employees to defer payment of a portion of current income to a later date if the remuneration is currently earned and the deferral is charged to current earnings and is reflected as a savings bank liability.
DFI-SB 7.02 Note Note: This section interprets or implements s. 214.345, Stats.
DFI-SB 7.02 History History: Cr. Register, February, 1994, No. 458, eff. 3-1-94.
DFI-SB 7.03 DFI-SB 7.03 Other plans.
DFI-SB 7.03(1) (1) A savings bank may enter into a pension plan or otherwise provide retirement benefits, for active full-time directors, officers or employees. Full-time officers and employees of a savings bank's subsidiary, service corporation or affiliate may be included under a savings bank's pension plan or other retirement benefit plan if the subsidiary, service corporation or affiliate pays its pro rata share of costs incurred.
DFI-SB 7.03(2) (2) Full-time officers and employees of a savings bank's subsidiaries, service corporation or affiliate may be included under a savings bank's pension plan or deferred compensation agreement if the subsidiary, service corporation or affiliate pays its pro rata share of costs incurred.
DFI-SB 7.03 Note Note: This section interprets or implements s. 214.345, Stats.
DFI-SB 7.03 History History: Cr. Register, February, 1994, No. 458, eff. 3-1-94.
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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.