Wisconsin Statutes Banking and Finance (Ch. 214 to 225) § 221.0611. Response to examination

(1) Response required. After receipt by the board of directors of a bank of a report of examination of the bank by the division, the board or an examining committee appointed under sub. (2) in accordance with s. 221.0615, unless the division requires response by the board as provided in s. 220.05(5), shall do all of the following:

(2) Examining committee. Upon receipt of a report of examination under sub. (1), the board of directors may appoint an examining committee, consisting of not fewer than 3 of its members, to perform the study and prepare the report under sub. (1)(a) and (b).

(3) Distribution and acknowledgement requirements. Each member of the board of directors shall obtain and review a copy of the report prepared under sub. (1)(b) and shall prepare a written acknowledgment stating all of the following:

(4) Recordation. The secretary of the board of directors shall record the report prepared under sub. (1)(b) in the minutes of the next meeting of the board following completion of the report.

(5) Transmission to division. The board of directors shall transmit the report prepared under sub. (1)(b) and the acknowledgments prepared under sub. (3) to the division within 45 days after receipt by the board of the report of examination under sub. (1).