Section DFI-SB 2.06 - Communications with members(1) RIGHT TO COMMUNICATE. Each member of a mutual savings bank may communicate with other members of the savings bank with reference to any question pending or to be presented at an annual or special meeting.(2) REQUEST TO THE SAVINGS BANK. A member wishing to communicate with other members may request the savings bank in writing to provide the member with the approximate number of members of the savings bank and the estimated cost that would be incurred by the savings bank in handling and mailing a proposed communication. The savings bank shall reply within 5 business days after receipt of the request.(3) NOTICE TO DIVISION OF BANKING. (a) A member wishing to communicate with other members shall submit to the division a signed request containing: 1. The requester's full name and address.2. The nature and extent of his or her interest in the savings bank.3. A statement of the meeting date, a copy of the communication, and reason for or the purpose of the communication requested.(b) The request in par. (a) shall be furnished to the division not less than 10 days before the meeting at which the subject of the communication is to be presented for consideration. Note: Address complaints to the Department of Financial Institutions, Division of Banking, 4822 Madison Yards Way, North Tower, 5th Floor, PO Box 7876, Madison, WI 53707-7876.
(4) DIVISION'S REVIEW. If the division finds the communication not appropriate or accurate,the division shall, within 5 business days after the receipt of the request, notify the requester of the division's decision and the reason for it. If the division finds the communication to be appropriate and accurate, the division shall within 5 business days after receipt of the request direct the savings bank to prepare and mail the communication to the members upon the requester's payment or adequate provision for payment of the expenses of preparation and mailing.(5) SAVINGS BANK'S RESPONSE.(a) Within 5 business days after receiving request and the division's positive determination under sub. (4), and of payment or adequate provision for payment of the expenses of preparation and mailing, the savings bank shall do the mailing.(b) If circumstances beyond the savings bank's control are anticipated to prevent mailing the proposed communication in time for it to be received by members prior to a meeting indicated by the requester, the savings bank shall so notify the division and the requester promptly and include an explanation.Wis. Admin. Code Department of Financial Institutions DFI-SB 2.06
CR Register, February, 1994, No. 458, eff. 3-1-94.Amended by, correction in (Note) under s. 13.92(4) (b) 6, Stats., Register May 2018 No. 749, eff. 6/1/2018Amended by, correction in (3) (title), (5) (a) made under s. 13.92(4) (b) 6, Stats., Register March 2020 No. 771, eff. 4/1/2020This section interprets or implements s. 214.37(5), Stats.