Section DFI-SB 17.12 - Compensation of savings bank(1) GENERAL. If the amount of the compensation for acting in a fiduciary capacity is not regulated by local law or provided for in the instrument creating the fiduciary relationship or otherwise agreed to by the parties, a savings bank acting in such capacity may charge or deduct a reasonable compensation for its services. When the savings bank is acting in a fiduciary capacity under appointment by a court, it shall receive the compensation allowed or approved by that court or by local law.(2) OFFICER OR EMPLOYEE OF SAVINGS BANK AS CO-FIDUCIARY. No savings bank may except with the specific approval of its board of directors, permit any of its officers or employees, while serving as a co-fiduciary, to retain any compensation for acting as a co-fiduciary with the savings bank in the administration of any account undertaken by it.(3) BEQUESTS OR GIFTS TO TRUST OFFICERS AND EMPLOYEES. No savings bank may permit an officer or employee engaged in the operation of its trust department to accept a bequest or gift of assets held in a fiduciary capacity by the savings bank unless the bequest or gift is directed or made by a relative of the officer or employee or is approved by the board of directors of the savings bank.Wis. Admin. Code Department of Financial Institutions DFI-SB 17.12
CR Register, February, 1994, No. 458, eff. 3-1-94.This section parallels 12 CFR 550.12 and s. DFI-SL 17.12.