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Register, July, 1998, No. 511
Chapter DFI-SL 4
ANNUAL STATEMENTS
DFI-SL 4.01   Annual printed statements.
DFI-SL 4.02   Method of preparation of annual printed statement.
DFI-SL 4.03   Publication requirement.
Ch. DFI-SL 4 Note Note: Chapter S-L 4 was renumbered chapter DFI-SL 4 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 4.01 DFI-SL 4.01Annual printed statements.
DFI-SL 4.01(1) (1)Form and content. The printed statement of condition and operations required by s. 215.03 (6) (a) 3., Stats., shall be in substantially the following form and shall contain, at a minimum, the following information: [See Figure DFI-SL 4.01 (1)]
STATEMENT OF CONDITION - See PDF for table PDF
Figure DFI-SL 4.01 (1) - See PDF for table PDF
DFI-SL 4.01(2) (2)Deletion of certain prescribed categories. If the balance in any category prescribed under sub. (1) is zero, that category need not be shown in the statement.
DFI-SL 4.01(3) (3)Capital stock associations reporting to the federal home loan bank board. A capital stock association required to file an annual report with the federal office of thrift supervision in a format prescribed by the securities and exchange commission under 15 USC 78m or 78o (d) will be deemed to comply with this section if it makes available to the public a copy of the statement of income and statement of financial condition required under federal law to be made available to its stockholders.
DFI-SL 4.01 Note Note: This section interprets or implements s. 215.03 (6) (a), Stats.
DFI-SL 4.01 History History: Cr. Register, June, 1989, No. 402, eff. 7-1-89.
DFI-SL 4.02 DFI-SL 4.02Method of preparation of annual printed statement.
DFI-SL 4.02(1) (1)All associations. Except as otherwise required by s. DFI-SL 4.01 (3), each statement of condition and operations required under s. 215.03 (6) (a), Stats., shall be prepared in accordance with generally accepted accounting principles.
DFI-SL 4.02(2) (2)Mutual associations. In the case of a mutual association, unless “net income” equals the difference between “total net worth” at the end of the period and “total net worth” at the beginning of the period, the statement of condition and operations shall include:
DFI-SL 4.02(2)(a) (a) A clearly readable explanation of material adjustments to the net income of prior periods; or
DFI-SL 4.02(2)(b) (b) A restated statement of operations for the affected periods.
DFI-SL 4.02(3) (3)National industry standard. The division may require associations to prepare statements of condition and operations according to an accounting practice or standard which is not in accordance with generally accepting accounting principles if the practice or standard is generally used and accepted nationally for mutual or stock associations as indicated by one or more of the following:
DFI-SL 4.02(3)(a) (a) The accounting practice or standard is used by a substantial portion of the savings and loan industry nationally; or
DFI-SL 4.02(3)(b) (b) The accounting practice or standard is accepted or required by the federal home loan bank board or the securities and exchange commission.
DFI-SL 4.02(4) (4)Forms modified. The division may modify the form prescribed in s. DFI-SL 4.01 to reflect an accounting practice or standard adopted under sub. (3).
DFI-SL 4.02(5) (5)When available. Each association shall make available the printed statement of condition and operations provided under s. 215.03 (6) (a) 3., Stats., not later than 5 days before the annual meeting of members or stockholders.
DFI-SL 4.02 Note Note: This section interprets or implements s. 215.03 (6) (a) 3., Stats.
DFI-SL 4.02 History History: Cr. Register, June, 1989, No. 402, eff. 7-1-89.
DFI-SL 4.03 DFI-SL 4.03Publication requirement. The annual report as submitted to the division under s. 215.03 (6) (a) 1., Stats., is designated as the condensed form of the annual report which shall be published as a class 1 notice under ch. 985, Stats., in the community in which the association maintains its home office. In addition, the notice shall be published in each community in which an association has a branch office or a limited office, in a newspaper of general circulation in that community. Proof of publication of this condensed form shall be submitted to the division within 45 days after the date of the report.
DFI-SL 4.03 Note Note: This section interprets or implements s. 215.03 (6) (a) 3., Stats.
DFI-SL 4.03 History History: Cr. Register, June, 1989, No. 402, eff. 7-1-89.
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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.