Wisconsin § 222.0403 - Loan powers.

§ 222.0403. Loan powers.

222.0403(1) (1) Permitted purposes. A universal bank may make, sell, purchase, arrange, participate in, invest in, or otherwise deal in loans or extensions of credit for any purpose. 222.0403(2) (2) In general. 222.0403(2)(a) (a) Percentage limitation. Except as provided in subs. (3) to (8) , the total liabilities of any person, other than a municipal corporation, to a universal bank for a loan or extension of credit may not exceed 20 percent of the universal bank’s capital at any time. 222.0403(2)(b) (b) Partnership liabilities. In determining compliance with this section, liabilities of a partnership include the liabilities of the general partners, computed individually as to each general partner on the basis of his or her direct liability. 222.0403(3) (3) Increased limit for certain secured liabilities. The total liabilities of any person, other than a municipal corporation, to a universal bank for a loan or extension of credit may not exceed 50 percent of the universal bank’s capital at any time, if the liabilities consist entirely of any of the following types of liabilities: 222.0403(3)(a) (a) Warehouse receipts. A liability secured by warehouse receipts issued by warehouse keepers who are licensed and bonded in this state under ss.