§ 214.37 — Access to books and records; communication with members and stockholders.

Wisconsin § 214.37

• Jurisdiction: Wisconsin
• Ch. 214: Savings banks
• Subch.: subch. V of ch. 214 SUBCHAPTER V

Text

214.37
214.37(1) (1) In this section, “financial records” means an original, copy or summary of any document or item containing information pertaining to any relationship established in the ordinary course of business between a savings bank and a customer.
214.37(2) (2) Except as provided in this section, no person may have access to the books and records of a savings bank or receive a list of the members or stockholders.
214.37(3) (3) A person shall have the right to inspect books and records of the savings bank that pertain to the person’s deposit accounts or loans.
214.37(4) (4) This section does not prohibit any of the following:
214.37(4)(a) (a) The preparation, examination, handling or maintenance of financial records by any officer, employee or agent of a savings bank having custody of records or examination of records by a certified public accountant or other person engaged by the savings bank to perform an audit.
214.37(4)(b) (b) The examination of financial records by, or the furnishing of financial records by a savings bank to, any officer, employee or agent of the division or a deposit insurance corporation for use solely in the exercise of that person’s duties as an officer, employee or agent.
214.37(4)(c) (c) The publication of data furnished from financial records if the data cannot be identified to any person, deposit account or loan file.
214.37(4)(d) (d) The making of reports or returns required under the internal revenue code.
214.37(4)(e) (e) The furnishing of information concerning the dishonor of a negotiable instrument permitted to be disclosed under the uniform commercial code.
214.37(4)(f) (f) The exchange in the regular course of business of credit information between a savings bank and another financial institution or a mortgage banker or between a savings bank and a consumer reporting agency.
214.37(4)(g) (g) The furnishing of information to the appropriate law enforcement authorities if the savings bank reasonably believes a crime involving the savings bank has been committed.
214.37(4)(h) (h) The furnishing of information pursuant to ch. 177 .
214.37(4)(i) (i) The furnishing of information pursuant to the currency and foreign transactions reporting act, 31 USC 5311 to 5326 .
214.37(4)(j) (j) The furnishing of information pursuant to any other statute which by its terms or by rules promulgated under that statute requires the disclosure of financial records other than by subpoena, summons, warrant or court order.
214.37(4)(k) (k) The disclosure of the current balance of a depositor’s account and the identification of the account to any person who submits all of the following:
214.37(4)(k)1. 1. An affidavit stating that the person has standing under s. 867.01 (3) (ac) or 867.02 (2) (ac) to petition for summary settlement or assignment of a decedent’s estate or that the person is an heir of the decedent, or was guardian, as defined in s. 54.01 (10) or s. 880.01 (3) , 2003 stats., of the decedent at the time of the decedent’s death, and may obtain transfer of property of a decedent under s. 867.03 .
214.37(4)(k)2. 2. A certified copy of the depositor’s death record. If the savings bank already possesses a certified copy of the depositor’s death record, this subdivision does not apply.
214.37(4)(L) (L) The disclosure of information relating to the financial records of a customer if authorized by that customer.
214.37(4)(m) (m) The disclosure of financial records under a subpoena, summons, warrant or court order, if the savings bank mails a copy of the subpoena, summons, warrant or court order to the customer, if living, or the customer’s personal representative, if known, at that person’s last-known address by 1st class mail, postage prepaid, unless the savings bank is specifically prohibited from notifying the person under a state or federal law or by order of the court.
214.37(5) (5) If a member or stockholder desires to communicate with other members or stockholders of the savings bank with reference to any question pending or to be presented at an annual or special meeting, the savings bank shall give that person, upon written request, a written statement of the approximate number of members or stockholders entitled to vote at the meeting and an estimate of the cost of preparing and mailing the communication. The requester shall submit the communication to the division who, if finding it to be appropriate and accurate, shall direct the savings bank to prepare and mail the communication to the members or stockholders upon the requester’s payment or adequate provision for payment of the expenses of preparation and mailing.
214.37(7) (7) A savings bank may sell or otherwise make use of a complete or partial list of customers if all of the following apply:
214.37(7)(a) (a) The list does not classify customers by individual financial criteria and contains only the names and addresses of customers.
214.37(7)(b) (b) The savings bank gives each customer prior written notice of the savings bank’s intent to furnish information about the customer and informs the customer that the customer has the right to prohibit the release by notifying the savings bank in writing on a form provided by the savings bank.
214.37(7)(c) (c) The person who is furnished a list agrees in writing not to furnish the list to another person.

Legislative History

214.37 History History: 1991 a. 221 ; 1995 a. 27 ; 1997 a. 27 ; 1999 a. 94 ; 2005 a. 387 ; 2011 a. 182 ; 2017 a. 334 .