Register, July, 1998, No. 511
Chapter DFI-SL 14
REAL ESTATE INVESTMENTS
DFI-SL 14.01 Real estate investments limited.
Ch. DFI-SL 14 Note
Note: Chapter S-L 14 was renumbered chapter DFI-SL 14 under s. 13.93 (2m) (b) 1., Stats., and corrections made under s. 13.93 (2m) (b) 6. and 7., Stats., Register, July, 1998, No. 511. DFI-SL 14.01(1)(1)
“Real estate investment” defined. An association's real estate investment includes:
DFI-SL 14.01(1)(a)
(a) Funds advanced for the purchase, development and operation of the real estate.
DFI-SL 14.01(1)(c)
(c) Mortgage loans, commercial loans, loan guarantees and letters of credit related to underlying real estate in which the association has invested.
DFI-SL 14.01(1)(e)
(e) Any other association obligation for direct or contingent payment of debt relating to the real estate project.
DFI-SL 14.01(2)(a)
(a) The division gives prior written approval after reviewing a feasibility study, a recent appraisal provided by the association and other information which it may require; and
DFI-SL 14.01(2)(b)
(b) The association's real estate investment does not directly or indirectly benefit an officer, director or employe of the association or of a subsidiary in excess of reasonable employment compensation unless the division gives prior written approval.
DFI-SL 14.01 Note
Note: This section interprets of implements
s.
215.13 (42), Stats.
DFI-SL 14.01 History
History: Cr.
Register, June, 1989, No. 402, eff. 7-1-89.
