AB150,2032,219
223.105
(5) Enforcement remedy. The
commissioner of banking department 20or
other appropriate commissioner under this section
office of credit unions shall
21upon the failure of such organization to submit notifications or reports required
22under this section or otherwise to comply with the provisions of this section, or rules
23established by the
commissioner of banking department under s. 220.04 (7), upon
24due notice, order such defaulting organization to cease and desist from engaging in
1fiduciary activities and may apply to the appropriate court for enforcement of such
2order.
AB150, s. 6201
3Section
6201. 223.105 (6) of the statutes is amended to read:
AB150,2032,104
223.105
(6) Sunset. Except for an organization regulated by the office
of the
5commissioner of credit unions
or the commissioner of savings and loan or an
6organization authorized by the
commissioner of banking
department to operate as
7a bank or trust company bank under ch. 221 or this chapter, an organization may not
8begin activity as a fiduciary operation under this section after May 12, 1992. An
9organization engaged in fiduciary operations under this section on May 12, 1992,
10may continue to engage in fiduciary operations after that date.
AB150, s. 6202
11Section
6202. 223.12 (1) of the statutes is amended to read:
AB150,2033,512
223.12
(1) Any trust company, incorporated under the laws of any other state,
13named by any resident of this state, as executor or trustee, or both, under that
14person's last will and testament or any codicil thereto, may be appointed and may
15accept appointment and may act as executor of, or trustee under, the last will and
16testament of any such person in this state, or both, provided trust companies of this
17state are permitted to act as such executor or trustee, or both, in the state where such
18foreign corporation has its domicile, and such foreign corporation shall have
19executed and filed i
n the office of the commissioner of banking with the department 20a written instrument appointing the
commissioner in the commissioner's name of
21office department its true and lawful attorney upon whom all process may be served
22in any action or proceeding against such executor or trustee, affecting or relating to
23the estate represented or held by such executor or trustee, or the acts or defaults of
24such corporation in reference to such estate, with the same effect as if it existed in
25this state and had been lawfully served with process therein, and shall also have filed
1in the office of such commissioner with the department a copy of its charter, articles
2of organization and all amendments thereto certified to by the secretary of state or
3other proper officer of said foreign state under the seal of office together with the
4post-office address of its principal office and shall further have complied with s.
5223.02.
AB150, s. 6203
6Section
6203. Subchapter I (title) of chapter 224 [precedes 224.02] of the
7statutes is created to read:
AB150,2033,88
Chapter 224
AB150,2033,109
Subchapter I
10
Banking provisions
AB150, s. 6204
11Section
6204. 224.06 (1) of the statutes is amended to read:
AB150,2033,2112
224.06
(1) As a condition precedent to qualification or entry upon the discharge
13of his or her duties, every person appointed or elected to any position requiring the
14receipt, payment or custody of money or other personal property owned by a bank or
15in its custody or control as collateral or otherwise, shall give a bond from an insurer
16qualified under s. 610.11 to do business in this state, in such adequate sum as the
17directors shall require and approve. In lieu of individual bonds the
commissioner 18department may accept a schedule or blanket bond which covers all of the officers
19and employes of any bank whose duties include the receipt, payment or custody of
20money or other personal property for or on behalf of the bank. All such bonds shall
21be in the form prescribed by the
commissioner of banking department.
AB150, s. 6205
22Section
6205. 224.06 (3) of the statutes is amended to read:
AB150,2034,323
224.06
(3) Such bond shall be sufficient in amount to protect the bank from loss
24by reason of acts of fraud or dishonesty including forgery, theft, embezzlement,
25wrongful abstraction or misapplication on the part of the person, directly or through
1connivance with others. At any time the
commissioner department may require
2additional bond or security, when in the
commissioner's department's opinion, the
3bonds then executed and approved are insufficient.
AB150, s. 6206
4Section
6206. 224.06 (4) of the statutes is amended to read:
AB150,2034,105
224.06
(4) Every such bond shall provide that no cancellation or other
6termination of the bond shall be effective unless the surety gives in advance at least
710 days' written notice by registered mail to the
commissioner department. If the
8bond is canceled or terminated at the request of the insured (employer), the surety
9shall give the written notice to the
commissioner
department within 10 days after
10the receipt of such request.
AB150, s. 6207
11Section
6207. 224.06 (5) of the statutes is amended to read:
AB150,2034,1612
224.06
(5) For reasons which the
commissioner department deems valid and
13sufficient the
commissioner department may waive as to the cancellation or
14termination of any such bond the 10-day written notice in advance required by sub.
15(4) and may give written consent to the termination or cancellation being made
16effective as of a date agreed upon and requested by the surety and the bank.
AB150, s. 6208
17Section
6208. 224.075 of the statutes is amended to read:
AB150,2034,21
18224.075 Financially related services tie-ins. In any transaction conducted
19by a bank, bank holding company or a subsidiary of either with a customer who is
20also a customer of any other subsidiary of any of them, the customer shall be given
21a notice in 12-point boldface type in substantially the following form:
AB150,2034,2222
NOTICE OF RELATIONSHIP
AB150,2035,223
This company, .... (insert name and address of bank, bank holding company or
24subsidiary), is related to .... (insert name and address of bank, bank holding company
25or subsidiary) of which you are also a customer. You may not be compelled to buy any
1product or service from either of the above companies or any other related company
2in order to participate in this transaction.
AB150,2035,73
If you feel that you have been compelled to buy any product or service from
4either of the above companies or any other related company in order to participate
5in this transaction, you should contact the management of either of the above
6companies at either of the above addresses or the
office of the commissioner of
7banking department of financial institutions at .... (insert address).
AB150, s. 6209
8Section
6209. 224.70 of the statutes is created to read:
AB150,2035,10
9224.70 Administration. This subchapter shall be administered by the
10department.
AB150, s. 6210
11Section
6210. 224.72 (8) of the statutes is created to read:
AB150,2035,1512
224.72
(8) Fees. (a) Each applicant shall pay an initial registration fee of $34
13to the department. If an examination is required, the applicant shall pay an
14examination fee, in an amount set by the department, in addition to the initial
15registration fee.
AB150,2035,1716
(b) An applicant for registration as a mortgage banker shall pay a temporary
17registration fee of $10 to the department.
AB150,2035,1818
(c) (intro.) The renewal dates and renewal fees for registrations are as follows:
AB150,2035,1919
(d) The fee for a transfer of a loan originator registration is $5.
AB150, s. 6211
20Section
6211. 226.025 (3) of the statutes is amended to read:
AB150,2036,721
226.025
(3) The appointment of the
secretary of state department of revenue 22or the designation of a resident agent as attorney for the service of summons, notice,
23pleadings or process under s. 180.1507 shall be applicable only to actions or
24proceedings against the foreign corporations described in this section (unless such
25corporations have been admitted to this state for purposes other than those
1mentioned in this section) where the cause of action or proceeding arises out of
2transactions between such foreign corporations and public utilities operating in this
3state with which such foreign corporations are affiliated; and to actions or
4proceedings by or before the public service commission
or office of the commissioner
5of railroads involving the transactions described in sub. (1), or involving the relation
6between such foreign corporations and public utilities operating in this state with
7which they are affiliated.
****Note: This is reconciled s. 226.025 (3). This Section has been affected by drafts with the
following LRB numbers: LRB-2136 and LRB-2285.
AB150, s. 6212
8Section
6212. 226.14 (1) of the statutes is amended to read:
AB150,2037,69
226.14
(1) No common law trust organized in this state, and no such trust
10formed or organized under or by authority of the laws of any state or foreign
11jurisdiction, for the purpose of doing business under a declaration of trust which
12shall have issued to five or more persons, or which shall sell or propose to sell
13beneficial interests, certificates or memberships therein, shall transact business, or
14acquire, hold or dispose of property in this state until the trustees named in said
15declaration of trust shall have caused to be filed
in the office of the secretary of state 16with the department of revenue the original declaration of trust, or a true copy
17thereof, and all amendments which may be made, verified as such by the affidavits
18of two of the signers thereof. A like verified copy of the declaration and such
19amendments, and a certificate of the
secretary of state department of revenue,
20showing the date when such declaration was filed and accepted by the
secretary of
21state department of revenue within thirty days of such filing and acceptance, shall
22be recorded with the register of deeds of the county in which such trust has its
23principal office or place of business in this state. No such trust shall transact
1business in this state until such declaration or such copy thereof be left for record.
2The register of deeds shall forthwith transmit to the
secretary of state department
3of revenue a certificate stating the time when such copy was recorded and shall be
4entitled to a fee of twenty-five cents therefor, to be paid by the person presenting
5such papers for record. Upon receipt of such certificate the
secretary of state 6department of revenue shall issue to said trustees a certificate of filing.
AB150, s. 6213
7Section
6213. 226.14 (3) of the statutes is amended to read:
AB150,2037,118
226.14
(3) Every such trust shall pay to the
secretary of state department of
9revenue a filing fee of $50, and $15 for each subsequent amendment, together with
10a further fee of $1 for each $1,000 of beneficial certificates sold or offered for sale in
11this state.
AB150, s. 6214
12Section
6214. 226.14 (4) (intro.) of the statutes is amended to read:
AB150,2037,2013
226.14
(4) (intro.) Every such trust shall file, accompanied by a filing fee of $5,
14in the office of the secretary of state with the department of revenue a verified
15statement on or before each March 31, showing the names and addresses of each of
16the trustees; the nature of the business transacted during the preceding year; in
17what states such trust is operating; the amount and number of beneficial certificates
18sold in this state, or elsewhere; a statement as to the total amount of beneficial
19certificates outstanding. Any such report not filed before April 1, may be filed only
20upon payment to the
secretary of state department of revenue of the following fees:
AB150, s. 6215
21Section
6215. 226.14 (4) (c) of the statutes is amended to read:
AB150,2037,2522
226.14
(4) (c) If said report is not filed before the following January 1, the trust
23shall not be in good standing. Until it is restored to good standing the
secretary of
24state department of revenue shall not accept for filing any documents respecting
25such trust except documents incident to its dissolution.
AB150, s. 6216
1Section
6216. 226.14 (4) (d) of the statutes is amended to read:
AB150,2038,62
226.14
(4) (d) The trust may be restored to good standing by delivering to the
3secretary of state department of revenue a current annual report conforming to the
4requirements of this section and by paying to the
secretary of state department of
5revenue $10 for each calendar year or part thereof during which the trust has not
6been in good standing, not exceeding a total of $105.
AB150, s. 6217
7Section
6217. 226.14 (5) of the statutes is amended to read:
AB150,2038,148
226.14
(5) Every such trust shall file
in the office of the secretary of state with
9the department of revenue the name of a trustee or trustees, if they designate more
10than one, resident in this state upon whom service may be made for and on behalf
11of said trust; or if none of such trustees reside in this state, then a statement shall
12be duly filed by the trustees appointing the
secretary of state department of revenue 13as the agent to accept service of process in this state, which appointment shall
14continue so long as such trust has any liabilities outstanding in this state.
AB150, s. 6218
15Section
6218. 227.01 (13) (s) of the statutes is amended to read:
AB150,2038,1816
227.01
(13) (s) Prescribes or relates to a uniform system of accounts for any
17person, including a municipality, that is regulated by the
office of the commissioner
18of railroads or the public service commission.
AB150, s. 6219
19Section
6219. 227.01(13) (ym) of the statutes is repealed.
AB150, s. 6220
20Section
6220. 227.01 (13) (zk) of the statutes is amended to read:
AB150,2038,2221
227.01
(13) (zk) Establishes guidelines under s.
101.38 106.21 (2), (4) or (6) for
22the Wisconsin service corps program under s.
101.38
106.21.
AB150, s. 6221
23Section
6221. 227.01 (13) (zo) of the statutes is created to read:
AB150,2038,2524
227.01
(13) (zo) Prescribes policies for identifying or justifying state accounting
25transactions as refunds of expenditures under s. 20.001 (5).
AB150, s. 6222
1Section
6222. 227.01 (13) (zq) of the statutes is amended to read:
AB150,2039,32
227.01
(13) (zq) Designates the Kickapoo valley reserve under s.
16.21 27.41 3(2).
AB150, s. 6223
4Section
6223. 227.03 (1) of the statutes is amended to read:
AB150,2039,65
227.03
(1) This chapter applies to cases arising under ss. 76.38
, 76.39 and
676.48.
AB150, s. 6224
7Section
6224. 227.03 (3m) (a) of the statutes is amended to read:
AB150,2039,118
227.03
(3m) (a) This chapter does not apply to proceedings before the
9department of industry, labor and human relations relating to housing
10discrimination under s.
101.22 106.04 (1) to (8), except as provided in s.
101.22 106.04 11(6).
AB150, s. 6225
12Section
6225. 227.03 (3m) (b) of the statutes is amended to read:
AB150,2039,1513
227.03
(3m) (b) Only the provisions of this chapter relating to rules are
14applicable to matters arising out of protection against discrimination in a public
15place of accommodation or amusement under s.
101.22
106.04 (9) and (10).
AB150,2039,2418
227.03
(4) The provisions of this chapter relating to contested cases do not
19apply to proceedings involving the revocation of aftercare supervision under s.
2048.357 (5) or 48.366 (5) or corrective sanctions supervision under s. 48.357 (5) or
21youthful serious juvenile offender supervision under s. 48.537 (4), the revocation of
22parole or probation, the grant of probation, prison discipline, mandatory release
23under s. 302.11 or any other proceeding involving the care and treatment of a
24resident or an inmate of a correctional institution.
AB150, s. 6227
25Section
6227. 227.40 (2) (e) of the statutes is amended to read:
AB150,2040,5
1227.40
(2) (e) Proceedings under s. 66.191, 1981 stats., or s. 40.65 (2),
101.22 2106.04, 303.07 (7) or 303.21 or ss. 227.52 to 227.58 or under ch. 102, 108 or 949 for
3review of decisions and orders of administrative agencies if the validity of the rule
4involved was duly challenged in the proceeding before the agency in which the order
5or decision sought to be reviewed was made or entered.
AB150, s. 6228
6Section
6228. 227.43 (1) (bk) of the statutes is created to read:
AB150,2040,107
227.43
(1) (bk) Assign a hearing examiner to preside over any hearing or review
8under ss. 26.20 (3) and (10), 84.05, 88.66 (2), 88.87 (4), 88.88 (2), 190.02 (6), 190.16
9(4) and (5), 192.324, 192.34, 192.52, 192.56, 195.28 (1), 195.285 (1), 195.29 (10),
10195.295, 195.30 (1), 195.305, 195.31, 195.32, 195.325 and 195.60.
AB150, s. 6229
11Section
6229. 227.43 (5) of the statutes is amended to read:
AB150,2040,1412
227.43
(5) The department of transportation shall pay all costs of the services
13of a hearing examiner assigned under sub. (1) (bg)
or (bk) or assigned to the
14department under sub. (1) (br), according to the fee schedule under sub. (3) (b).
AB150, s. 6230
15Section
6230. 227.46 (2m) of the statutes is amended to read:
AB150,2041,716
227.46
(2m) In any hearing or review assigned to a hearing examiner under s.
17227.43 (1) (bg)
or (bk), the hearing examiner presiding at the hearing shall prepare
18a proposed decision, including findings of fact, conclusions of law, order and opinion,
19in a form that may be adopted as the final decision in the case. The proposed decision
20shall be a part of the record and shall be served by the division of hearings and
21appeals in the department of administration on all parties. Each party adversely
22affected by the proposed decision shall be given an opportunity to file objections to
23the proposed decision within 15 days, briefly stating the reasons and authorities for
24each objection, and to argue with respect to them before the administrator of the
25division of hearings and appeals. The administrator of the division of hearings and
1appeals may direct whether such argument shall be written or oral. If the decision
2of the administrator of the division of hearings and appeals varies in any respect from
3the decision of the hearing examiner, the decision of the administrator of the division
4of hearings and appeals shall include an explanation of the basis for each variance.
5The decision of the administrator of the division of hearings and appeals is a final
6decision of the agency subject to judicial review under s. 227.52. The department of
7transportation may petition for judicial review.
AB150, s. 6231
8Section
6231. 227.46 (3) (intro.) of the statutes is amended to read:
AB150,2041,119
227.46
(3) (intro.) With respect to contested cases except a hearing or review
10assigned to a hearing examiner under s. 227.43 (1) (bg)
or (bk), an agency may by rule
11or in a particular case may by order:
AB150, s. 6232
12Section
6232. 227.485 (2) (e) of the statutes is amended to read:
AB150,2041,1413
227.485
(2) (e) "State agency" does not include the
public intervenor or citizens
14utility board.
AB150, s. 6233
15Section
6233. 227.52 of the statutes is amended to read:
AB150,2042,2
16227.52 Judicial review; decisions reviewable. Administrative decisions
17which adversely affect the substantial interests of any person, whether by action or
18inaction, whether affirmative or negative in form, are subject to review as provided
19in this chapter, except for the decisions of the department of revenue other than
20decisions relating to alcohol beverage permits issued under ch. 125, decisions of the
21department of employe trust funds, the
commissioner of banking department of
22financial institutions, the
commissioner office of credit unions,
the commissioner of
23savings and loan, the board of state canvassers and those decisions of the department
24of industry, labor and human relations which are subject to review, prior to any
1judicial review, by the labor and industry review commission, and except as
2otherwise provided by law.
AB150, s. 6234
3Section
6234. 227.53 (1) (b) 2. of the statutes is amended to read:
AB150,2042,54
227.53
(1) (b) 2. The banking review board or the consumer credit review board,
5the
commissioner of banking department of financial institutions.
AB150, s. 6235
6Section
6235. 227.53 (1) (b) 3. of the statutes is amended to read:
AB150,2042,87
227.53
(1) (b) 3. The credit union review board, the
commissioner office of credit
8unions.
AB150, s. 6236
9Section
6236. 227.53 (1) (b) 4. of the statutes is amended to read:
AB150,2042,1410
227.53
(1) (b) 4. The savings and loan review board, the
commissioner of
11savings and loan department of financial institutions, except if the petitioner is the
12commissioner of savings and loan department of financial institutions, the
13prevailing parties before the savings and loan review board shall be the named
14respondents.
AB150, s. 6237
15Section
6237. 227.53 (1) (b) 5. of the statutes is amended to read:
AB150,2042,2016
227.53
(1) (b) 5. The savings bank review board, the
commissioner of savings
17and loan department of financial institutions, except if the petitioner is the
18commissioner of savings and loan department of financial institutions, the
19prevailing parties before the savings bank review board shall be the named
20respondents.
AB150, s. 6238
21Section
6238. 227.59 of the statutes is amended to read:
AB150,2043,13
22227.59 Certification of certain cases from the circuit court of Dane
23county to other circuits. Any action or proceeding for the review of any order of
24an administrative officer, commission, department or other administrative tribunal
25of the state required by law to be instituted in or taken to the circuit court of Dane
1county except an action or appeal for the review of any order of the department of
2industry, labor and human relations
or the department of development or findings
3and orders of the labor and industry review commission which is instituted or taken
4and is not called for trial or hearing within 6 months after the proceeding or action
5is instituted, and the trial or hearing of which is not continued by stipulation of the
6parties or by order of the court for cause shown, shall on the application of either
7party on 5 days' written notice to the other be certified and transmitted for trial to
8the circuit court of the county of the residence or principal place of business of the
9plaintiff or petitioner, where the action or proceeding shall be given preference.
10Unless written objection is filed within the 5-day period, the order certifying and
11transmitting the proceeding shall be entered without hearing. The plaintiff or
12petitioner shall pay to the clerk of the circuit court of Dane county a fee of $2 for
13transmitting the record.
AB150, s. 6239
14Section
6239. 228.01 of the statutes is amended to read:
AB150,2044,4
15228.01 Recording of documents and public records by mechanical
16process authorized. Whenever any officer of any county having a population of
17500,000 or more is required or authorized by law to file, record, copy, recopy or replace
18any document, court order, plat, paper, written instrument, writings, record or book
19of record, on file or of record in his or her office, notwithstanding any other provisions
20in the statutes, the officer may do so by photostatic, photographic,
21microphotographic, microfilm, optical imaging
, electronic formatting or other
22mechanical process which produces a clear, accurate and permanent copy or
23reproduction of the original document, court order, plat, paper, written instrument,
24writings, record or book of record in accordance with the standards specified under
25ss. 16.61 (7) and 16.612. Any such officer may also reproduce by such processes or
1transfer from optical disk
or electronic storage any document, court order, plat,
2paper, written instrument, writings, record or book of record which has previously
3been filed, recorded, copied or recopied. Optical imaging
or electronic formatting of
4any document is subject to authorization under s. 59.145 (1).
AB150, s. 6240
5Section
6240. 228.03 of the statutes is amended to read:
AB150,2044,13
6228.03 Copy to be deemed to be original record. (1) A photographic
7reproduction of an original document, court order, plat, paper, written instrument,
8writing, record, book of record, file or other material, or a copy of material generated
9from optical disk
or electronic storage of the original material, bearing upon or
10pertinent to the activities and functions of any county office, department, agency,
11board, commission, court or institution, in counties having a population of 500,000
12or more, is deemed to be an original for all purposes, if it meets the applicable
13standards established in ss. 16.61 and 16.612.
AB150,2045,6
14(2) Any photographic reproduction of an original record meeting the standards
15prescribed in s. 16.61 (7) or copy of a record generated from an original record stored
16in optical disk
or electronic format in compliance with ss. 16.61 and 16.612 shall be
17taken as and stand in lieu of and have all of the effect of the original record and shall
18be admissible in evidence in all courts and all other tribunals or agencies,
19administrative or otherwise, in all cases where the original document is admissible.
20A transcript, exemplification or certified copy of such a reproduction of an original
21record, or certified copy of a record generated from an original record stored in optical
22disk
or electronic format, for the purposes specified in this subsection, is deemed to
23be a transcript, exemplification or certified copy of the original. The custodian of a
24photographic reproduction shall place the reproduction or optical disk in
25conveniently accessible storage and shall make provision for preserving, examining
1and using the reproduction of the record or generating a copy of the record from
2optical disk
or electronic storage. An enlarged copy of a photographic reproduction
3of a record made in accordance with the standards specified in s. 16.61 (7) or an
4enlarged copy of a record generated from an original record stored in optical disk
or
5electronic format in compliance with ss. 16.61 and 16.612 that is certified by the
6custodian as provided in s. 889.18 (2) has the same effect as an actual-size copy.