AB150-engrossed,1928,2012
218.04
(9m) (g) Whenever the
commissioner division shall have paid to each
13and every claimant or forwarder of such collection agency whose claims as such
14claimant or forwarder have been duly proved and allowed the full amount of such
15claims and shall have made proper provisions for unclaimed and unpaid collections
16and shall have paid all the expenses of the liquidation, the
commissioner division 17shall liquidate the remaining assets exclusive of the proceeds of the bond or bonds
18for the benefit of the general creditors; or if no claims have been filed by or in behalf
19of the general creditors, the
commissioner division shall turn over the remaining
20assets to the circuit court for further disposition.
AB150-engrossed,1929,222
218.04
(9m) (h) All accounts and valuable papers given to the agency by the
23claimant or forwarder in possession of the
commissioner division, pertaining to
24accounts placed with the agency for collection shall be returned to the claimant or
1forwarded by the
commissioner division within 30 days after verification of the claim
2has been made.
AB150-engrossed,1929,94
218.04
(10) (a) Each licensee shall annually, on or before the fifteenth day of
5March, file a report with the
commissioner division giving such reasonable and
6relevant information as the
commissioner division may, by general or special order,
7require concerning the business and operations conducted by such licensee within
8the state. Such report shall be made under oath and shall be in the form prescribed
9by the
commissioner division.
AB150-engrossed,1929,1711
218.04
(10) (b) The
commissioner
division shall require the licensee to keep
12such books and records in the licensee's place of business as will enable the
13commissioner division to determine whether the provisions of this section are being
14complied with. Every such licensee shall preserve the records of final entry used in
15such business for a period of at least 6 years after final remittance is made on any
16account placed with the licensee for collection or after any account has been returned
17to the claimant on which one or more payments have been paid.
AB150-engrossed,1929,2419
218.04
(13) Enforcement. The
commissioner division shall have the duty,
20power, jurisdiction and authority to investigate, ascertain and determine whether
21this section or the lawful orders issued hereunder are being violated and for such
22purposes the
commissioner division shall have all the powers conferred by subs. (4)
23and (5). The
commissioner division shall report all violations to the district attorney
24of the proper county for prosecution.
AB150-engrossed,1930,22
218.05
(1) (d) "Division" means the division of banking.
AB150-engrossed,1930,74
218.05
(2) Licenses required. After July 1, 1945, no person, firm, association,
5partnership or corporation shall engage in the business of a community currency
6exchange without first securing a license to do so from the
commissioner division as
7required by this section.
AB150-engrossed,1930,119
218.05
(3) (a) (intro.) Application for such license shall be in writing, under
10oath, on a form to be prescribed by the
commissioner
division. Each application shall
11contain the following information:
AB150-engrossed,1930,1413
218.05
(3) (a) 3. Such other information as the
commissioner division may
14require.
AB150-engrossed,1930,2216
218.05
(3) (b)
Such An application shall be accompanied by a
nonrefundable 17fee of
$100 $300 for the cost of investigating the applicant.
When the application has
18been approved by the commissioner and the applicant so advised
If the cost of an
19investigation exceeds $300, the applicant shall, upon demand of the commissioner,
20pay the excess cost. At the time of the application, the applicant shall pay an
21additional
$100 $300 as an annual license fee for a period
terminating ending on the
22last day of the current calendar year.
AB150-engrossed, s. 5950
23Section
5950
. 218.05 (3) (b) of the statutes, as affected by 1995 Wisconsin Act
24.... (this act), is amended to read:
AB150-engrossed,1931,5
1218.05
(3) (b) An application shall be accompanied by a nonrefundable fee of
2$300 for the cost of investigating the applicant. If the cost of an investigation exceeds
3$300, the applicant shall, upon demand of the
commissioner division, pay the excess
4cost. At the time of the application, the applicant shall pay an additional $300 as an
5annual license fee for a period ending on the last day of the current calendar year.
AB150-engrossed,1931,177
218.05
(3) (c) Before any license is issued to a community currency exchange
8the applicant shall file annually with and have approved by the
commissioner 9division a surety bond in the principal sum of $5,000, issued by an insurer authorized
10to do business in this state. The bond shall run to the state of Wisconsin and shall
11be for the benefit of any creditors of the community currency exchange for any
12liability incurred for any sum due to any payee of any check, draft or money order
13left with the community currency exchange for collection, and also for any penalties
14that may be imposed under this section. If the
commissioner division finds at any
15time the bond is insecure or exhausted or otherwise doubtful, an additional bond in
16like amount to be approved by the
commissioner division shall be filed by the licensee
17within 30 days after written demand by the
commissioner division.
AB150-engrossed,1932,1319
218.05
(4) Licenses; issuance; denial. If the
commissioner division shall find
20after investigation that the applicant (a) is trustworthy and reputable, (b) has
21business experience qualifying the applicant to competently conduct, operate, own,
22or become associated with a community currency exchange, and (c) has a good
23business reputation and is worthy of a license, the
commissioner division shall issue
24to the applicant qualifying hereunder, a license to operate a community currency
25exchange at the location specified in the application, which license shall remain in
1full force and effect until it is surrendered by the licensee or revoked by the
2commissioner division. If the
commissioner division shall not so find, the
3commissioner division shall not issue such license and shall notify the applicant of
4such denial, retaining the investigation fee to cover the cost of investigating the
5applicant. The
commissioner division shall approve or deny every application within
630 days from the filing thereof. No application shall be denied unless the applicant
7has had notice of a hearing on said application and an opportunity to be heard
8thereon. If the application is denied, the
commissioner division shall, within 20 days
9thereafter, prepare and keep on file
in the commissioner's office with the division a
10written order of denial which shall contain the
commissioner's division's findings
11with respect thereto and the reasons supporting the denial, and shall mail a copy
12thereof to the applicant at the address set forth in the application, within 5 days after
13the filing of such order.
AB150-engrossed,1932,2215
218.05
(6) Insurance. Every applicant for a license under this section shall,
16after the application for a license has been approved, submit a policy or policies of
17insurance to be approved by the
commissioner division, issued by an insurer
18authorized to do business in this state, which insures the applicant against loss by
19burglary, larceny, robbery, forgery or embezzlement in a principal sum determined
20by the
commissioner division. Any such policy, with respect to forgery, may carry a
21condition that the community currency exchange assumes the first $50 of each claim
22thereunder.
AB150-engrossed,1933,824
218.05
(8) Other business forbidden. A community currency exchange shall
25not be conducted as a
department unit of another business. It must be an entity,
1financed and conducted as a separate business unit. This shall not prevent a
2community currency exchange from leasing a part of the premises of another
3business for the conduct of this business on the same premises; provided, that no
4community currency exchange shall be conducted on the same premises with a
5business whose chief source of revenue is derived from the sale of alcohol beverages
6for consumption on the premises. This subsection shall not apply when such other
7business is subject to any statute which provides for supervision and examination
8by the
commissioner division.
AB150-engrossed,1933,1310
218.05
(10) (b) No more than one place of business shall be maintained under
11the same license, but the
commissioner division may issue more than one license to
12the same licensee upon the compliance with the provisions of this section governing
13an original issuance of a license, for each new license.
AB150-engrossed,1933,1915
218.05
(10) (c) Whenever a licensee shall wish to change the licensee's place
16of business to any location other than that originally set forth in the license, the
17licensee shall give written notice thereof to the
commissioner division and if the
18change is approved the
commissioner division shall attach to the license, in writing,
19a rider stating the new address or location of the community currency exchange.
AB150-engrossed,1933,2521
218.05
(11) Renewal. Every licensee shall, on or before December 20, pay to
22the commissioner the sum of
$50 $300 as an annual license fee for the next
23succeeding calendar year and
shall, at the same time
, shall file with the
24commissioner the annual bond and insurance policy or policies in the same amount
25and of the same character as required by subs. (3) (c) and (6).
AB150-engrossed, s. 5958
1Section
5958
. 218.05 (11) of the statutes, as affected by 1995 Wisconsin Act
2.... (this act), is amended to read:
AB150-engrossed,1934,73
218.05
(11) Renewal. Every licensee shall, on or before December 20, pay to
4the
commissioner division the sum of $300 as an annual license fee for the next
5succeeding calendar year and, at the same time, shall file with the
commissioner 6division the annual bond and insurance policy or policies in the same amount and
7of the same character as required by subs. (3) (c) and (6).
AB150-engrossed,1934,139
218.05
(12) (a) (intro.) The
commissioner division may, upon 10 days' notice to
10the licensee by mail directed to the licensee at the address set forth in the license,
11stating the contemplated action and in general the grounds therefor, and upon
12reasonable opportunity to be heard prior to such action, revoke any license issued
13hereunder if the
commissioner division shall find that:
AB150-engrossed,1934,1815
218.05
(12) (a) 1. The licensee has failed to pay the annual license fee or to
16maintain in effect the required bond or insurance policy or policies or to comply with
17any order, decision or finding of the
commissioner
division made pursuant to this
18section.
AB150-engrossed,1934,2120
218.05
(12) (a) 2. The licensee has violated any provision of this section or any
21regulation or direction made by the
commissioner
division under this section.
AB150-engrossed,1934,2523
218.05
(12) (a) 3. Any fact or condition exists which, if it had existed at the time
24of the original application for such license, would have warranted the
commissioner 25division in refusing the issuance of the license.
AB150-engrossed,1935,72
218.05
(12) (b) The
commissioner
division may revoke only the particular
3license with respect to which grounds for revocation may occur or exist, or if the
4commissioner division shall find that such grounds for revocation are of general
5application to all offices or to more than one office operated by such licensee, the
6commissioner division may revoke all of the licenses issued to such licensee or such
7number of licenses to which such grounds apply.
AB150-engrossed,1935,139
218.05
(12) (c) A licensee may surrender any license by delivering to the
10commissioner division written notice that the licensee surrenders such license, but
11such surrender shall not affect such licensee's civil or criminal liability for acts
12committed prior to such surrender, or affect the licensee's bond, or entitle such
13licensee to a return of any part of the annual license fee.
AB150-engrossed,1935,2015
218.05
(12) (d) Every license issued hereunder shall remain in force until the
16same has been surrendered or revoked in accordance with this section, but the
17commissioner division may on the
commissioner's division's own motion issue new
18licenses to a licensee whose license or licenses shall have been revoked if no fact or
19condition then exists which clearly would have warranted the
commissioner division 20in refusing originally the issuance of such license under this section.
AB150-engrossed,1936,422
218.05
(12) (e) No license shall be revoked until the licensee has had notice of
23a hearing thereon and an opportunity to be heard. When any license is so revoked,
24the
commissioner division shall within 20 days thereafter, prepare and keep on file
25in the commissioner's office with the division, a written order or decision of
1revocation which shall contain the
commissioner's division's findings with respect
2thereto and the reasons supporting the revocation and shall send by mail a copy
3thereof to the licensee at the address set forth in the license within 5 days after the
4filing
in the commissioner's office with the division of such order, finding or decision.
AB150-engrossed,1936,86
218.05
(13) Review of orders. Any person aggrieved by any order of the
7commissioner division made under this section may have a review thereof by the
8consumer credit review board under s. 220.037.
AB150-engrossed,1936,1610
218.05
(14) (a) A licensee shall annually, on or before February 15, file a report
11with the
commissioner division that shall be used only for the official purposes of the
12commissioner division giving relevant information that the
commissioner division 13may reasonably require concerning, and for the purpose of examining, the business
14and operations during the preceding calendar year of each licensed place of business
15conducted by the licensee within this state. The report shall be made under oath and
16shall be in the form prescribed by the
commissioner
division.
AB150-engrossed,1936,2018
218.05
(14) (b) 1. A licensee shall keep books, accounts and records to enable
19the
commissioner division to determine if the licensee is complying with this section
20and with rules promulgated by and orders issued by the
commissioner division.
AB150-engrossed,1936,2422
218.05
(14) (b) 2. A licensee shall keep within this state the books, accounts and
23records required by this paragraph at the licensee's place of business or a place
24readily accessible to the
commissioner or examiners
division.
AB150-engrossed,1937,9
1218.05
(14) (c) 1. The
commissioner division may investigate the business and
2examine the books, accounts and records of a licensee at any time. For that purpose,
3the
commissioner division shall have free access to the offices and places of business
4and to the books, accounts and records of a licensee. The
commissioner division may
5examine any person under oath or affirmation whose testimony the
commissioner 6division requires relative to the licensee.
The commissioner or a designated
7representative An employe of the division may administer an oath or affirmation to
8a person called as a witness.
The commissioner or the commissioner's representative 9An employe of the division may conduct the examination.
AB150-engrossed,1937,1311
218.05
(14) (c) 2. The
commissioner
division shall determine the cost of an
12examination. A licensee shall pay the cost of an examination within 30 days after
13the
commissioner division demands payment.
AB150-engrossed,1937,1815
218.14
(1) (a) That the primary housing unit meets those standards prescribed
16by law or administrative rule of the department of administration or of the
17department of
industry, labor and human relations
development, which are in effect
18at the time of its manufacture.
AB150-engrossed,1937,2520
218.165
(1) The importation of a primary housing unit for sale in this state by
21an out-of-state manufacturer is deemed an irrevocable appointment by that
22manufacturer of the
secretary of state department of financial institutions to be that
23manufacturer's true and lawful attorney upon whom may be served all legal
24processes in any action or proceeding against such manufacturer arising out of the
25importation of such primary housing unit into this state.
AB150-engrossed,1938,92
218.165
(2) The
secretary of state
department of financial institutions upon
3whom processes and notices may be served under this section shall, upon being
4served with such process or notice, mail a copy by registered mail to the out-of-state
5manufacturer at the nonresident address given in the papers so served. The original
6shall be returned with proper certificate of service attached for filing in court as proof
7of service. The service fee shall be $4 for each defendant so served. The
secretary
8of state department of financial institutions shall keep a record of all such processes
9and notices, which record shall show the day and hour of service.
AB150-engrossed,1938,16
11219.09 (title)
Local exposition
Certain district and authority bonds as
12legal investments and security. (1) A bank, trust company, savings bank or
13institution, savings and loan association, credit union or investment company or a
14personal representative, guardian, trustee or other fiduciary may legally invest any
15moneys or funds belonging to or within that person's control in bonds issued by
a any
16of the following:
AB150-engrossed,1938,17
17(a) A local exposition district under subch. II of ch. 229.
AB150-engrossed,1938,19
18(2) This section shall not be construed as relieving any person of any duty of
19exercising any required level of care in selecting securities.
AB150-engrossed,1938,2121
219.09
(1) (b) The University of Wisconsin Hospitals and Clinics Authority.
AB150-engrossed,1938,2323
220.01
(1m) "Division" means the division of banking.
AB150-engrossed,1938,25
25220.02 (title)
Commissioner of banking Division; duties.
AB150-engrossed,1939,53
220.02
(2) (intro.) The
commissioner of banking division shall enforce all laws
4relating to banks and banking in this state, and shall enforce and cause to be enforced
5every law relating to the supervision and control thereof, including those relating to:
AB150-engrossed,1939,157
220.02
(3) It is the intent of sub. (2) to give the
commissioner of banking division 8jurisdiction to enforce and carry out all laws relating to banks or banking in this
9state, including those relating to state banks, trust company banks, and also all laws
10relating to small loan companies or other loan companies or agencies, finance
11companies, motor vehicle dealers, adjustment service companies, community
12currency exchanges and collection agencies and those relating to sellers of checks
13under ch. 217, whether doing business as corporations, individuals or otherwise, but
14to exclude laws relating to credit unions
, savings banks and savings and loan
15associations.