Wisconsin § 221.0319 - Real estate.

§ 221.0319. Real estate.

221.0319(1) (1) Purposes for which real estate may be held. A bank may purchase, lease, hold and convey only the following types of real estate: 221.0319(1)(a) (a) Real estate necessary for the convenient transaction of its business, including facilities connected with the office, furniture, equipment and fixtures. A bank may include with its banking offices, other facilities to rent as a source of income. A bank may also invest in the stocks, bonds or obligations of a bank building corporation. A bank’s investment under this paragraph or its liability for it may not exceed in the aggregate 60 percent of the bank’s capital. 221.0319(1)(b) (b) Real estate conveyed to the bank in satisfaction of debts previously contracted in the course of the bank’s business. 221.0319(1)(c) (c) Real estate purchased at sale on judgments, decrees or mortgage foreclosures under securities held by the bank, but a bank may not bid at a sale a larger amount than is necessary to satisfy its debts and costs. 221.0319(1)(d) (d) Subject to the approval of the division, real estate purchased and held for the purpose of providing needed housing accommodations for its essential employees who are relocated by the bank, including purchasing the former residence of the relocated, essential employee. 221.0319(1)(e) (e) Real estate acquired or held for such other purposes as may be approved by the division, subject to s.