186.03 Use of name exclusive. - Wisconsin Statutes

186.03

186.03 Use of name exclusive.

186.03(1)

(1) Limits. A person may not use a name containing the phrase "credit union", represent itself as a credit union or conduct business as a credit union unless the person is any of the following:

186.03(1)(a)

(a) A credit union.

186.03(1)(b)

(b) An association of credit unions.

186.03(1)(c)

(c) An organization, association or corporation whose membership or ownership is primarily confined or restricted to credit unions.

186.03(2)

(2) Use required. A credit union shall use the phrase "credit union" in its corporate name.

186.03(3)

(3) Name approval. The office of credit unions shall approve a credit union's name before the name is officially adopted. A credit union may not adopt the name of another credit union doing business in this state.

186.03(4)

(4) Penalty. Whoever violates this section may be fined not more than $5,000.

186.03 - ANNOT.

History: 1971 c. 193 s. 42 (1); 1985 a. 127; 1993 a. 112; 1995 a. 27; 1995 a. 151 ss. 63, 64, 301.