Register, July, 1998, No. 511
Chapter DFI-SL 14
REAL ESTATE INVESTMENTS
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:
Funds advanced for the purchase, development and operation of the real estate.
Mortgage loans, commercial loans, loan guarantees and letters of credit related to underlying real estate in which the association has invested.
Any other association obligation for direct or contingent payment of debt relating to the real estate project.
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
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
This section interprets of implements
s. 215.13 (42)
DFI-SL 14.01 History
Cr. Register, June, 1989, No. 402
, eff. 7-1-89.