Credit Union-Issued Securities
Used for: Securities issued by a federal or state-chartered credit union.
Filing requirement: Self-Executing. No filing or Consent to Service of Process is necessary in order to claim this exemption.
Frequently asked questions:
Q: Is the exemption self-executing?
A: Yes. No filing or Consent to Service of Process is required.
Q: Did the National Securities Market Improvement Act ("NSMIA") affect Wisconsin's ability to enforce this exemption?
A. No. NSMIA did not affect states' ability to regulate Credit Union-issued securities.
History: Predecessor statute 551.22(5), Wis. Stats., adopted on January 1, 1970. Repealed and recreated January 1, 2009