Amendment ASA-AB150

AB150-ASA,1867,23 223.03 (14) To establish and maintain a branch trust company bank with the approval of the commissioner of banking division. Section 221.04 (1) (jm) 2. to 8., as it applies to bank branch offices under that paragraph, applies to trust company bank branch offices under this subsection.

AB150-ASA, s. 6195 Section 6195. 223.07 (1) of the statutes is amended to read:

AB150-ASA,1868,5 223.07 (1) Any trust company bank may, with the approval of the commissioner of banking division, establish and maintain a trust service office at any office in this state of a state or national bank if the establishment of the trust service office has been approved by the board of directors of the state or national bank at a meeting called for that purpose.

AB150-ASA, s. 6196 Section 6196. 223.07 (3) of the statutes is amended to read:

AB150-ASA,1869,11 223.07 (3) If the state or national bank at which a trust service office is to be established has exercised trust powers, the trust company bank and the state or national bank shall enter into an agreement respecting those fiduciary powers to which the trust company bank shall succeed and shall file the agreement with the commissioner of banking division. The trust company bank shall cause a notice of the filing, in a form prescribed by the commissioner division, to be published as a class 1 notice, under ch. 985, in the city, village or town where the state or national bank is located. After filing and publication, the trust company bank establishing the office shall, as of the date the office first opens for business, without further authorization of any kind, succeed to and be substituted for the state or national bank as to all fiduciary powers, rights, duties, privileges and liabilities of the bank in its capacity as fiduciary for all estates, trusts, guardianships and other fiduciary relationships of which the bank is then serving as fiduciary, except as may be otherwise specified in the agreement between the trust company bank and the state or national bank. The trust company bank shall also be deemed named as fiduciary in all writings, including, but not limited to, wills, trusts, court orders and similar documents and instruments naming the state or national bank as fiduciary, signed before the date the trust office first opens for business, unless expressly negated by the writing or otherwise specified in the agreement between the trust company bank and the state or national bank. On the effective date of the substitution, the state or national bank shall be released and absolved from all fiduciary duties and obligations under such writings and shall discontinue its exercise of trust powers on all matters not specifically retained by the agreement. This subsection does not effect a discharge in the manner of s. 701.16 (6) or other applicable statutes and does not absolve a state or national bank exercising trust powers from liabilities arising out of any breach of fiduciary duty or obligation occurring prior to the date the trust service office first opens for business at the bank. This subsection does not affect the authority, duties or obligations of a bank with respect to relationships which may be established without trust powers, including escrow arrangements, whether the relationships arise before or after the establishment of the trust service office.

AB150-ASA, s. 6197 Section 6197. 223.105 (2) (a) of the statutes is amended to read:

AB150-ASA,1869,14 223.105 (2) (a) Such rules as may be established by the commissioner of banking division under s. 220.04 (7); and

AB150-ASA, s. 6198 Section 6198. 223.105 (3) (a) of the statutes is amended to read:

AB150-ASA,1869,23 223.105 (3) (a) To assure compliance with such rules as may be established under s. 220.03 (7) the office of the commissioner division of banking, commissioner, the office of credit unions and commissioner the division of savings and loan shall, at least once every 18 months, examine the fiduciary operations of each organization which is under its respective jurisdiction and is subject to examination under sub. (2). If a particular organization subject to examination under sub. (2) is not otherwise under the jurisdiction of one of the foregoing agencies, such examination shall be conducted by the office of the commissioner division of banking.

AB150-ASA, s. 6199 Section 6199. 223.105 (4) of the statutes is amended to read:

AB150-ASA,1870,11 223.105 (4) Notice of fiduciary operation. Except for those organizations licensed under ch. 221 or this chapter, any organization engaged in fiduciary operations as defined in this section shall, as required by rule, notify the commissioner division of banking, the commissioner office of credit unions or the commissioner of savings and loan of that fact, directing the notice to the commissioner agency then exercising regulatory authority over the organization or, if there is none, to the commissioner division of banking. Any organization which intends to engage in fiduciary operations shall, prior to engaging in such operations, notify the appropriate commissioner agency of this intention. The notifications required under this subsection shall be on forms and contain information required by the rules promulgated by the commissioner division of banking.

AB150-ASA, s. 6200 Section 6200. 223.105 (5) of the statutes is amended to read:

AB150-ASA,1870,20 223.105 (5) Enforcement remedy. The commissioner division of banking or other appropriate commissioner under this section the division of savings and loan or office of credit unions shall upon the failure of such organization to submit notifications or reports required under this section or otherwise to comply with the provisions of this section, or rules established by the commissioner division of banking under s. 220.04 (7), upon due notice, order such defaulting organization to cease and desist from engaging in fiduciary activities and may apply to the appropriate court for enforcement of such order.

AB150-ASA, s. 6201 Section 6201. 223.105 (6) of the statutes is amended to read:

AB150-ASA,1871,3 223.105 (6) Sunset. Except for an organization regulated by the office of the commissioner of credit unions or the commissioner division of savings and loan or an organization authorized by the commissioner division of banking to operate as a bank or trust company bank under ch. 221 or this chapter, an organization may not begin activity as a fiduciary operation under this section after May 12, 1992. An organization engaged in fiduciary operations under this section on May 12, 1992, may continue to engage in fiduciary operations after that date.

AB150-ASA, s. 6202 Section 6202. 223.12 (1) of the statutes is amended to read:

AB150-ASA,1871,23 223.12 (1) Any trust company, incorporated under the laws of any other state, named by any resident of this state, as executor or trustee, or both, under that person's last will and testament or any codicil thereto, may be appointed and may accept appointment and may act as executor of, or trustee under, the last will and testament of any such person in this state, or both, provided trust companies of this state are permitted to act as such executor or trustee, or both, in the state where such foreign corporation has its domicile, and such foreign corporation shall have executed and filed in the office of the commissioner with the division of banking a written instrument appointing the commissioner in the commissioner's name of office division its true and lawful attorney upon whom all process may be served in any action or proceeding against such executor or trustee, affecting or relating to the estate represented or held by such executor or trustee, or the acts or defaults of such corporation in reference to such estate, with the same effect as if it existed in this state and had been lawfully served with process therein, and shall also have filed in the office of such commissioner with the division a copy of its charter, articles of organization and all amendments thereto certified to by the secretary of state or other proper officer of said foreign state under the seal of office together with the post-office address of its principal office and shall further have complied with s. 223.02.

AB150-ASA, s. 6203 Section 6203. Subchapter I (title) of chapter 224 [precedes 224.02] of the statutes is created to read:

AB150-ASA,1872,1 Chapter 224

AB150-ASA,1872,3 Subchapter I Banking provisions

AB150-ASA, s. 6204 Section 6204. 224.06 (1) of the statutes is amended to read:

AB150-ASA,1872,14 224.06 (1) As a condition precedent to qualification or entry upon the discharge of his or her duties, every person appointed or elected to any position requiring the receipt, payment or custody of money or other personal property owned by a bank or in its custody or control as collateral or otherwise, shall give a bond from an insurer qualified under s. 610.11 to do business in this state, in such adequate sum as the directors shall require and approve. In lieu of individual bonds the commissioner division may accept a schedule or blanket bond which covers all of the officers and employes of any bank whose duties include the receipt, payment or custody of money or other personal property for or on behalf of the bank. All such bonds shall be in the form prescribed by the commissioner of banking division.

AB150-ASA, s. 6205 Section 6205. 224.06 (3) of the statutes is amended to read:

AB150-ASA,1872,21 224.06 (3) Such bond shall be sufficient in amount to protect the bank from loss by reason of acts of fraud or dishonesty including forgery, theft, embezzlement, wrongful abstraction or misapplication on the part of the person, directly or through connivance with others. At any time the commissioner division may require additional bond or security, when in the commissioner's division's opinion, the bonds then executed and approved are insufficient.

AB150-ASA, s. 6206 Section 6206. 224.06 (4) of the statutes is amended to read:

AB150-ASA,1873,3 224.06 (4) Every such bond shall provide that no cancellation or other termination of the bond shall be effective unless the surety gives in advance at least 10 days' written notice by registered mail to the commissioner division. If the bond is canceled or terminated at the request of the insured (employer), the surety shall give the written notice to the commissioner division within 10 days after the receipt of such request.

AB150-ASA, s. 6207 Section 6207. 224.06 (5) of the statutes is amended to read:

AB150-ASA,1873,9 224.06 (5) For reasons which the commissioner division deems valid and sufficient the commissioner division may waive as to the cancellation or termination of any such bond the 10-day written notice in advance required by sub. (4) and may give written consent to the termination or cancellation being made effective as of a date agreed upon and requested by the surety and the bank.

AB150-ASA, s. 6208 Section 6208. 224.075 of the statutes is amended to read:

AB150-ASA,1873,14 224.075 Financially related services tie-ins. In any transaction conducted by a bank, bank holding company or a subsidiary of either with a customer who is also a customer of any other subsidiary of any of them, the customer shall be given a notice in 12-point boldface type in substantially the following form:

AB150-ASA,1873,15 NOTICE OF RELATIONSHIP

AB150-ASA,1873,20 This company, .... (insert name and address of bank, bank holding company or subsidiary), is related to .... (insert name and address of bank, bank holding company or subsidiary) of which you are also a customer. You may not be compelled to buy any product or service from either of the above companies or any other related company in order to participate in this transaction.

AB150-ASA,1873,25 If you feel that you have been compelled to buy any product or service from either of the above companies or any other related company in order to participate in this transaction, you should contact the management of either of the above companies at either of the above addresses or the office of the commissioner division of banking at .... (insert address).

AB150-ASA, s. 6209 Section 6209. 224.70 of the statutes is created to read:

AB150-ASA,1874,3 224.70 Administration. This subchapter shall be administered by the department.

AB150-ASA, s. 6210 Section 6210. 224.72 (8) of the statutes is created to read:

AB150-ASA,1874,8 224.72 (8) Fees. (a) Each applicant shall pay an initial registration fee of $39 to the department. If an examination is required, the applicant shall pay an examination fee, in an amount set by the department, in addition to the initial registration fee.

AB150-ASA,1874,10 (b) An applicant for registration as a mortgage banker shall pay a temporary registration fee of $10 to the department.

AB150-ASA,1874,11 (c) (intro.) The renewal dates and renewal fees for registrations are as follows:

AB150-ASA,1874,12 (d) The fee for a transfer of a loan originator registration is $5.

AB150-ASA, s. 6218m Section 6218m. 227.01 (13) (v) of the statutes is amended to read:

AB150-ASA,1874,15 227.01 (13) (v) Establishes procedures used for the determination of allocations as charges to agencies under s. 20.865 (1) (f) or (fm).

AB150-ASA, s. 6220 Section 6220. 227.01 (13) (zk) of the statutes is amended to read:

AB150-ASA,1874,18 227.01 (13) (zk) Establishes guidelines under s. 101.38 106.21 (2), (4) or (6) for the Wisconsin service corps program under s. 101.38 106.21.

AB150-ASA, s. 6222 Section 6222. 227.01 (13) (zq) of the statutes is amended to read:

AB150-ASA,1874,21 227.01 (13) (zq) Designates the Kickapoo valley reserve under s. 16.21 41.41 (2).

AB150-ASA, s. 6223 Section 6223. 227.03 (1) of the statutes is amended to read:

AB150-ASA,1874,24 227.03 (1) This chapter applies to cases arising under ss. 76.38, 76.39 and 76.48.

AB150-ASA, s. 6224 Section 6224. 227.03 (3m) (a) of the statutes is amended to read:

AB150-ASA,1875,4 227.03 (3m) (a) This chapter does not apply to proceedings before the department of industry, labor and human relations relating to housing discrimination under s. 101.22 106.04 (1) to (8), except as provided in s. 101.22 106.04 (6).

AB150-ASA, s. 6225 Section 6225. 227.03 (3m) (b) of the statutes is amended to read:

AB150-ASA,1875,8 227.03 (3m) (b) Only the provisions of this chapter relating to rules are applicable to matters arising out of protection against discrimination in a public place of accommodation or amusement under s. 101.22 106.04 (9) and (10).

AB150-ASA, s. 6226 Section 6226. 227.03 (4) of the statutes, as affected by 1993 Wisconsin Act 377, is amended to read:

AB150-ASA,1875,17 227.03 (4) The provisions of this chapter relating to contested cases do not apply to proceedings involving the revocation of aftercare supervision under s. 48.357 (5) or 48.366 (5) or corrective sanctions supervision under s. 48.357 (5) or youthful offender supervision under s. 48.537 (4), the revocation of parole or probation, the grant of probation, prison discipline, mandatory release under s. 302.11 or any other proceeding involving the care and treatment of a resident or an inmate of a correctional institution.

AB150-ASA, s. 6226m Section 6226m. 227.03 (4) of the statutes, as affected by 1993 Wisconsin Act 377 and 1995 Wisconsin Act .... (this act), is repealed and recreated to read:

AB150-ASA,1876,2 227.03 (4) The provisions of this chapter relating to contested cases do not apply to proceedings involving the revocation of aftercare supervision under s. 48.357 (5) or 48.366 (5) or corrective sanctions supervision under s. 48.357 (5) or serious juvenile offender supervision under s. 48.358 (4), the revocation of parole or probation, the grant of probation, prison discipline, mandatory release under s. 302.11 or any other proceeding involving the care and treatment of a resident or an inmate of a correctional institution.

AB150-ASA, s. 6226g Section 6226g. 227.116 (4) (intro.) of the statutes is amended to read:

AB150-ASA,1876,8 227.116 (4) (intro.) If an agency fails to review and make a determination on a permit application within the time period specified in a rule or law, for each such failure the agency shall prepare a report and submit it to the permit information center and regulatory assistance bureau within 5 business days of the last day of the time period specified, setting forth all of the following:

AB150-ASA, s. 6226j Section 6226j. 227.116 (5) of the statutes is amended to read:

AB150-ASA,1876,13 227.116 (5) If an agency fails to review and make a determination on a permit application within the time period specified in a rule or law, upon completion of the review and determination for that application, the agency shall notify the permit information center and regulatory assistance bureau.

AB150-ASA, s. 6227 Section 6227. 227.40 (2) (e) of the statutes is amended to read:

AB150-ASA,1876,19 227.40 (2) (e) Proceedings under s. 66.191, 1981 stats., or s. 40.65 (2), 101.22 106.04, 303.07 (7) or 303.21 or ss. 227.52 to 227.58 or under ch. 102, 108 or 949 for review of decisions and orders of administrative agencies if the validity of the rule involved was duly challenged in the proceeding before the agency in which the order or decision sought to be reviewed was made or entered.

AB150-ASA, s. 6233 Section 6233. 227.52 of the statutes is amended to read:

AB150-ASA,1877,5 227.52 Judicial review; decisions reviewable. Administrative decisions which adversely affect the substantial interests of any person, whether by action or inaction, whether affirmative or negative in form, are subject to review as provided in this chapter, except for the decisions of the department of revenue other than decisions relating to alcohol beverage permits issued under ch. 125, decisions of the department of employe trust funds, the commissioner division of banking, the commissioner office of credit unions, the commissioner division of savings and loan, the board of state canvassers and those decisions of the department of industry, labor and human relations which are subject to review, prior to any judicial review, by the labor and industry review commission, and except as otherwise provided by law.

AB150-ASA, s. 6234 Section 6234. 227.53 (1) (b) 2. of the statutes is amended to read:

AB150-ASA,1877,8 227.53 (1) (b) 2. The banking review board or the consumer credit review board, the commissioner division of banking.

AB150-ASA, s. 6235 Section 6235. 227.53 (1) (b) 3. of the statutes is amended to read:

AB150-ASA,1877,11 227.53 (1) (b) 3. The credit union review board, the commissioner office of credit unions.

AB150-ASA, s. 6236 Section 6236. 227.53 (1) (b) 4. of the statutes is amended to read:

AB150-ASA,1877,16 227.53 (1) (b) 4. The savings and loan review board, the commissioner division of savings and loan, except if the petitioner is the commissioner division of savings and loan, the prevailing parties before the savings and loan review board shall be the named respondents.

AB150-ASA, s. 6237 Section 6237. 227.53 (1) (b) 5. of the statutes is amended to read:

AB150-ASA,1877,21 227.53 (1) (b) 5. The savings bank review board, the commissioner division of savings and loan, except if the petitioner is the commissioner division of savings and loan, the prevailing parties before the savings bank review board shall be the named respondents.

AB150-ASA, s. 6238 Section 6238. 227.59 of the statutes is amended to read:

AB150-ASA,1878,14 227.59 Certification of certain cases from the circuit court of Dane county to other circuits. Any action or proceeding for the review of any order of an administrative officer, commission, department or other administrative tribunal of the state required by law to be instituted in or taken to the circuit court of Dane county except an action or appeal for the review of any order of the department of industry, labor and human relations or the department of development or findings and orders of the labor and industry review commission which is instituted or taken and is not called for trial or hearing within 6 months after the proceeding or action is instituted, and the trial or hearing of which is not continued by stipulation of the parties or by order of the court for cause shown, shall on the application of either party on 5 days' written notice to the other be certified and transmitted for trial to the circuit court of the county of the residence or principal place of business of the plaintiff or petitioner, where the action or proceeding shall be given preference. Unless written objection is filed within the 5-day period, the order certifying and transmitting the proceeding shall be entered without hearing. The plaintiff or petitioner shall pay to the clerk of the circuit court of Dane county a fee of $2 for transmitting the record.

AB150-ASA, s. 6239 Section 6239. 228.01 of the statutes is amended to read:

AB150-ASA,1879,5 228.01 Recording of documents and public records by mechanical process authorized. Whenever any officer of any county having a population of 500,000 or more is required or authorized by law to file, record, copy, recopy or replace any document, court order, plat, paper, written instrument, writings, record or book of record, on file or of record in his or her office, notwithstanding any other provisions in the statutes, the officer may do so by photostatic, photographic, microphotographic, microfilm, optical imaging, electronic formatting or other mechanical process which produces a clear, accurate and permanent copy or reproduction of the original document, court order, plat, paper, written instrument, writings, record or book of record in accordance with the standards specified under ss. 16.61 (7) and 16.612. Any such officer may also reproduce by such processes or transfer from optical disk or electronic storage any document, court order, plat, paper, written instrument, writings, record or book of record which has previously been filed, recorded, copied or recopied. Optical imaging or electronic formatting of any document is subject to authorization under s. 59.145 (1).

AB150-ASA, s. 6240 Section 6240. 228.03 of the statutes is amended to read:

AB150-ASA,1879,14 228.03 Copy to be deemed to be original record. (1) A photographic reproduction of an original document, court order, plat, paper, written instrument, writing, record, book of record, file or other material, or a copy of material generated from optical disk or electronic storage of the original material, bearing upon or pertinent to the activities and functions of any county office, department, agency, board, commission, court or institution, in counties having a population of 500,000 or more, is deemed to be an original for all purposes, if it meets the applicable standards established in ss. 16.61 and 16.612.

AB150-ASA,1880,7 (2) Any photographic reproduction of an original record meeting the standards prescribed in s. 16.61 (7) or copy of a record generated from an original record stored in optical disk or electronic format in compliance with ss. 16.61 and 16.612 shall be taken as and stand in lieu of and have all of the effect of the original record and shall be admissible in evidence in all courts and all other tribunals or agencies, administrative or otherwise, in all cases where the original document is admissible. A transcript, exemplification or certified copy of such a reproduction of an original record, or certified copy of a record generated from an original record stored in optical disk or electronic format, for the purposes specified in this subsection, is deemed to be a transcript, exemplification or certified copy of the original. The custodian of a photographic reproduction shall place the reproduction or optical disk in conveniently accessible storage and shall make provision for preserving, examining and using the reproduction of the record or generating a copy of the record from optical disk or electronic storage. An enlarged copy of a photographic reproduction of a record made in accordance with the standards specified in s. 16.61 (7) or an enlarged copy of a record generated from an original record stored in optical disk or electronic format in compliance with ss. 16.61 and 16.612 that is certified by the custodian as provided in s. 889.18 (2) has the same effect as an actual-size copy.

AB150-ASA, s. 6241 Section 6241. 228.04 of the statutes is amended to read:

AB150-ASA,1880,20 228.04 Inspection of records and copies of records. Every custodian of public records in counties having a population of 500,000 or more shall keep them in such arrangement and condition as to make them easily accessible for convenient use. Photographic, photostatic, microphotographic, microfilm or other mechanical process of reproduction of public records or optical imaging or electronic formatting of public records shall be considered as accessible for convenient use, provided that a suitable means for public inspection of the records is provided by the custodian. Except as otherwise expressly provided by law, the custodian shall permit all public records in his or her custody to be inspected, examined, abstracted or copied at reasonable times and under his or her supervision and regulation by any person; and the custodian shall, upon the demand of any person, furnish certified copies thereof on payment in advance of fees not to exceed the fees prescribed by law.

AB150-ASA, s. 6242 Section 6242. 228.05 of the statutes is amended to read:

AB150-ASA,1881,7 228.05 Marginal references. The register of deeds of any county having a population of 500,000 or more who has copied a document by microphotography, microfilm, or optical imaging or electronic formatting that is accepted by him or her for recording or filing shall also, as a substitute for marginal references required, prepare an index for documents of ancillary nature for which marginal references are required. Such index for ancillary documents shall be prepared and maintained to show the document number or volume and page of the original recording or filing plus a record of any recordings or filings affecting or pertinent to such original recording or filing requiring marginal references subsequent to the date on which the county begins such recording or recopying by microphotography, microfilm , or optical imaging or electronic formatting.

AB150-ASA, s. 6243 Section 6243. 230.03 (3) of the statutes is amended to read:

AB150-ASA,1881,14 230.03 (3) "Agency" means any state board, commission, committee, council, or department in the state or unit thereof created by the constitution or statutes if such board, commission, committee, council, department, unit or the head thereof, is authorized to appoint subordinate staff by the constitution or statute, except a legislative or judicial board, commission, committee, council, department or unit thereof or an authority created under ch. 231, 232, 233, 234 or 235.

AB150-ASA, s. 6244 Section 6244. 230.048 of the statutes is repealed.

AB150-ASA, s. 6245 Section 6245. 230.08 (2) (b) of the statutes is amended to read:

AB150-ASA,1881,18 230.08 (2) (b) All officers and employes of the state appointed by the governor whether subject to confirmation or not, unless otherwise provided.

AB150-ASA, s. 6246 Section 6246. 230.08 (2) (e) 3. of the statutes is amended to read: