Section DFI-CU 60.03 - Certificates of deposit(1) The board of directors shall establish the policy with regard to maturities and minimum denominations for each classification of certificates of deposit. This policy shall be reviewed from time to time as conditions require.(2)(a) At least 10 days prior to the maturity of a certificate of deposit, the credit union shall provide the holder written notice which sets forth the terms and options available to the holder with regard to continuation or renewal of the certificate.(b) If the credit union elects not to renew a certificate of deposit, the credit union shall send the holder a clear notice of this intent at least 10 days prior to the maturity of the certificate. If a member is duly notified of the intention not to renew, it shall be optional with the credit union whether dividends will continue to be paid after maturity on certificates of deposit not surrendered at maturity date.(3) At the option of the credit union, additional deposits may be permitted to certificate of deposit accounts without extending the original maturity of the certificate.(4) The information contained in s. DFI-CU60.06 shall be disclosed on all certificates of deposit or accompanying disclosure forms.Wis. Admin. Code Department of Financial Institutions DFI-CU 60.03
CR Register, April, 1982, No. 316, eff. 5-1-82.