Section DFI-Bkg 17.04 - Capital structure(1) The minimum level of capital stock for an interim bank shall be $5,000. The establishment of a paid-in capital account and contingent fund under s. 221.0205, Stats., is not required for an interim bank.(2) If the existing bank is the surviving charter in a merger or consolidation, the interim bank's capital stock may be cancelled and transferred to the surplus of the surviving entity at the time of the merger or consolidation, or the stock of the surviving entity may be increased by the amount of the interim bank's capital stock through an amendment to the articles of incorporation of the existing bank.(3) If the interim bank is the surviving charter in the merger or consolidation, and the total assets of the combined entity is similar to that of the existing bank, the capital stock of the interim bank immediately following the merger or consolidation shall, by an amendment to the articles of incorporation of the interim bank, be increased to an amount at least equal to the capital stock of the existing bank prior to the merger or consolidation.(4) If the interim bank is the surviving charter in the merger or consolidation, and the transaction results in a significant increase in total assets from what the existing bank reflects prior to the merger or consolidation, the capital stock of the interim bank immediately following the merger or consolidation shall, by an amendment to the articles of incorporation of the interim bank, be increased to the greater of $1,000,000 or the amount of capital stock of the existing bank prior to the merger or consolidation.Wis. Admin. Code Department of Financial Institutions DFI-Bkg 17.04
CR 04-001: CR Register June 2004 No. 582, eff. 7-1-04.