Wisconsin Statutes 221.0305 – Memberships and investments in federal reserve bank
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Terms Used In Wisconsin Statutes 221.0305
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Officers: when applied to corporations include directors and trustees. See Wisconsin Statutes 990.01
- State: when applied to states of the United States, includes the District of Columbia, the commonwealth of Puerto Rico and the several territories organized by Congress. See Wisconsin Statutes 990.01
A bank may purchase and hold, for the purpose of becoming a member of the federal reserve bank, so much of the capital stock of the federal reserve bank as will qualify it for membership under 12 U.S. Code § 321 to 339 in the federal reserve bank. The bank may become a member of the federal reserve bank, and may have and exercise all powers, not in conflict with the laws of this state, that are conferred upon a member bank. The member bank and its directors, officers and shareholders remain subject to all liabilities and duties imposed upon them by the laws of this state.