Wisconsin Statutes 221.0637 – Bank officers and employees not to take commissions
Current as of: 2024 | Check for updates
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Attorney's Note
Under the Wisconsin Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class I felony | up to 3 years 6 months | up to $10,000 |
Terms Used In Wisconsin Statutes 221.0637
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
(1) Commissions prohibited. An officer, director, agent or employee of a bank may not, directly or indirectly, take, accept or receive, or offer or agree to take, accept or receive, a commission, fee, compensation, or thing of material value, from any person in consideration of the bank of which he or she is an officer, director, agent or employee, doing any of the following:
(a) Loaning any money to a person.
(b) Buying or discounting a note, bond, draft, or bill of exchange from the person.
(c) Accepting any draft for, or issuing any letter of credit to, the person.
(2) Penalties. Any person who violates sub. (1) is guilty of a Class I felony.