LRB-3658/1
JTK:skg:km
1995 - 1996 LEGISLATURE
December 12, 1995 - Introduced by Representative Seratti, cosponsored by
Senator Breske. Referred to Joint committee on Finance.
AB724,1,2
1An Act relating to: the expenditure of $7,300 from the general fund for payment
2of a claim against the state made by Laona State Bank.
Analysis by the Legislative Reference Bureau
This bill directs expenditure of $7,300 from the general fund in payment of a
claim made by Laona State Bank against the department of transportation (DOT).
The claimant made a used vehicle loan to the vehicle owner. On June 29, 1989, DOT
reissued the title to the vehicle without listing the claimant as a secured party. On
or about April 16, 1990, the claimant obtained another loan on the same vehicle from
Headwaters State Bank. DOT then reissued the vehicle title listing only
Headwaters State Bank as the secured party. In July 1992, the vehicle owner sold
the vehicle and paid the proceeds to Headwaters State Bank. The claimant obtained
a judgment against the vehicle owner for $7,300 but the owner declared bankruptcy
and the claimant has not been able to collect upon its judgment. DOT asserts that
the claimant has made insufficient efforts to collect its judgment. On November 9,
1994, the claims board recommended denial of this claim. See 1993
Senate Journal,
p. 1128.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB724, s. 1
3Section
1.
Claim against the state. There is directed to be expended from
the appropriation under section 20.505 (4) (d) of the statutes, as affected by the acts
of 1995, $7,300 in payment of a claim against the state made by Laona State Bank,
Laona, Wisconsin, to compensate it for a loss incurred when the department of
transportation failed to list the claimant as a secured party when the department
reissued a vehicle title on June 29, 1989. Acceptance of this payment releases this
state and its officers, employes and agents from any further liability to the claimant
resulting from the issuance of this vehicle title.
