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Current as of January 01, 2025 | Updated by Findlaw Staff
A savings bank may not make a loan or discount on the security of or be the purchaser or holder of the shares of its own stock or preferred stock or on the security of its own debentures or evidences of its debt that are convertible to stock or are junior or subordinate in rights of payment to deposits or other liabilities of the savings bank, unless the security or purchase is necessary to prevent a loss on a debt previously contracted in good faith; and the stock or evidence of indebtedness acquired or purchased shall, within 6 months after the date of its acquisition, be sold or disposed of at public or private sale.
Cite this article: FindLaw.com - Wisconsin Statutes Banking and Finance (Ch. 214 to 225) § 214.44. Loans or discounts on capital stock - last updated January 01, 2025 | https://codes.findlaw.com/wi/banking-and-finance-ch-214-to-225/wi-st-214-44/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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