Wisconsin § 221.0318 - Notes and debentures.
Full text of Wisconsin Wisconsin Statutes § 221.0318 — Notes and debentures., with citation guidance and answers to common questions.
§ 221.0318. Notes and debentures.
221.0318(1) (1) Issuance. A bank may, by the action of its board of directors, issue and sell its notes or debentures of one or more classes in the amount, in the form and with the maturity determined by the board. The notes and debentures may confer such rights and privileges upon the holders of the notes and debentures as determined by the board. 221.0318(2) (2) Limitation on issuance. A bank may issue notes and debentures if the amount issued is within limits previously established by the division for issuances by the bank. 221.0318(3) (3) Status as capital of bank. Notes and debentures issued by a bank constitute capital of the bank, only if approved by the division. 221.0318(4) (4) Retirement of notes and debentures. Before a bank may retire or pay notes or debentures, any existing deficiency of the bank’s capital, disregarding the notes and debentures to be retired, must be paid in cash or in assets acceptable to the division, so that the sound capital assets of the bank shall at least equal the capital stock of the bank. 221.0318(5) (5) Liability for assessment. A bank’s notes or debentures are not subject to any assessment. The holders of these notes or debentures are not liable for the debts, contracts or engagements of the bank or for assessments to restore impairments in the capital of the bank. 221.0318 History History: 1995 a. 336 .
Frequently Asked Questions About Wisconsin § 221.0318
What does Wisconsin Statutes § 221.0318 cover?
Section 221.0318 ("Notes and debentures.") is part of the Wisconsin Statutes, the codified statutory law of Wisconsin. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Wisconsin § 221.0318?
A common citation format is "Wisconsin Statutes § 221.0318" (Wisconsin). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Wisconsin law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Wisconsin official source linked on this page or consult a licensed Wisconsin attorney.
How does Wisconsin § 221.0318 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Wisconsin can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Wisconsin.