Wisconsin § 221.0616 Reliance by directors or officers.

Wisconsin Statutes

§ 221.0616 — Reliance by directors or officers.

Wisconsin § 221.0616

Ch. 221State banks

Subch.subch. VI of ch. 221 SUBCHAPTER VI

DIRECTORS, OFFICERS AND EMPLOYEES

This text of Wisconsin § 221.0616 (Reliance by directors or officers.) is published on Counsel Stack Legal Research, covering Wisconsin primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wis. Stat. § 221.0616 (2026).

Text

0616  Unless the director or officer has knowledge that makes reliance unwarranted, a director or officer, in discharging his or her duties to the bank, may rely on information, opinions, reports or statements, which may be written or oral or formal or informal and which may include financial statements, valuation reports and other financial data, if they are prepared or presented by any of the following:
0616(1) (1) Officers and employees. An officer or employee of the bank whom the director or officer believes in good faith to be reliable and competent in the matters presented.
0616(2) (2) Experts. Legal counsel, certified public accountants licensed or certified under ch. 442 , or other persons as to matters that the director or officer believes in good faith are within the 

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221.0616 Unless the director or officer has knowledge that makes reliance unwarranted, a director or officer, in discharging his or her duties to the bank, may rely on information, opinions, reports or statements, which may be written or oral or formal or informal and which may include financial statements, valuation reports and other financial data, if they are prepared or presented by any of the following:
221.0616(1) (1) Officers and employees. An officer or employee of the bank whom the director or officer believes in good faith to be reliable and competent in the matters presented.
221.0616(2) (2) Experts. Legal counsel, certified public accountants licensed or certified under ch. 442 , or other persons as to matters that the director or officer believes in good faith are within the person’s professional or expert competence.
221.0616(3) (3) Board committees. In the case of reliance by a director, a committee of the board of directors of which the director is not a member if the director believes in good faith that the committee merits confidence.