186.03 Use of name exclusive. (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:(a) A credit union.(b) An association of credit unions.(c) An organization, association or corporation whose membership or ownership is primarily confined or restricted to credit unions.(2) Use required. A credit union shall use the phrase 'credit union' in its corporate name.(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.(4) Penalty. Whoever violates this section may be fined not more than $5,000.History: 1971 c. 193 s. 42 (1); 1985 a. 127; 1993 a. 112; 1995 a. 27; 1995 a. 151 ss. 63, 64, 301.
Wisconsin Legal Code