221.0301(3)(3) Corporate seal. To adopt and use a corporate seal and alter the same at pleasure. 221.0301(4)(4) Officers and agents. To elect or appoint officers, agents and employees, define their duties and obligations, require bonds of them, fix their compensation, dismiss them and fill vacancies. 221.0301(5)(5) Business of banking. To exercise by its board of directors, or duly authorized officers or agents, all incidental powers necessary to carry on the business of banking. A bank may exercise the powers granted by this subsection to carry on the business of banking at a branch bank. Powers granted under this subsection include all of the following: 221.0301(5)(a)(a) Buying, discounting and negotiating promissory notes, bonds, drafts, bills of exchange, foreign and domestic, and other evidences of debt. 221.0301(5)(c)(c) Receiving commercial and savings deposits under such conditions as the bank may establish. 221.0301(5)(e)(e) Making loans on personal and real security in accordance with this chapter. 221.0301(6)(6) Succession. To have succession until any of the following occurs: 221.0301(6)(a)(a) The bank is dissolved by the act of its shareholders owning a majority of the stock of the bank entitled to vote or such greater percentage required under its articles of incorporation or bylaws. 221.0301(6)(b)(b) The bank’s corporate existence becomes terminated by a provision in its articles of incorporation. 221.0301(7)(7) Intermediary or payer bank. To establish and maintain facilities for the receipt of checks and other transit items as an intermediary or payer bank in bank-to-bank transactions. 221.0301(8)(8) Services to other depository institutions. To contract with one or more depository institutions to provide banking and financially related products or services on its behalf to its customers, except that no contract is required for the acceptance of deposits of customers at affiliated banks. A bank that proposes to enter into a contract under this subsection shall file with the division, at least 30 days before the effective date of the contract, a notice of intention to enter into a contract with a depository institution, a description of the services proposed to be performed under the contract and a copy of the contract. A bank may not, pursuant to a contract under this subsection, conduct any activity as an agent that it would be prohibited from conducting as a principal under applicable state or federal law, or have an agent conduct any activity that the bank as a principal would be prohibited from conducting under applicable state or federal law. The division may order a bank or any other depository institution subject to the division’s enforcement powers to cease acting as an agent or principal under any contract that the division finds to be inconsistent with safe and sound banking practices. 221.0301(9)(9) Other. To exercise such other powers as may be provided or permitted under this chapter. 221.0301 HistoryHistory: 1995 a. 336. 221.0302221.0302 Branch banks and other facilities. 221.0302(1g)(a)(a) “Affiliate” means any company that directly or indirectly controls, or is under common control with, another company. 221.0302(1g)(c)(c) “Commercial activities” means those activities in which a bank holding company, financial holding company, national bank, state bank, as defined in s. 221.0903 (1) (e), or state bank certified under ch. 222 as a universal bank are not authorized to engage under federal or state law. 221.0302(1m)(1m) Establishment. A bank may establish and maintain a branch bank or joint branch bank with the approval of the division. 221.0302(2)(2) Conversion. A bank may be converted to a branch bank of the surviving bank of a merger or consolidation under s. 221.0702. A branch of a bank converted into a branch bank becomes a branch of the surviving bank. 221.0302(3)(3) Transfer. A bank may transfer a branch bank to any other bank located in this state with the approval of the division. A bank may transfer a branch bank to a bank located in another state only if the division has determined under s. 221.0904 (3) (b) that the state’s laws are reciprocal regarding establishing branches. 221.0302(4)(4) Out-of-state branches. A bank may establish a branch bank in another state with the approval of the division. 221.0302(5)(5) Activities not considered branch banking. The following activities do not constitute the establishment or maintenance of a branch bank or a joint branch bank: 221.0302(5)(a)(a) Picking up deposits and delivering money to bank customers at locations designated by the bank.