SB55-ASA1-AA1,1010,5
1(a) Except with respect to taxation laws of each jurisdiction that are applicable
2upon the conversion of the business entity, the business entity that is to be converted
3is no longer subject to the applicable law of the jurisdiction that governed the
4organization of the business entity and is subject to the applicable law of the
5jurisdiction that governs the new business entity.
SB55-ASA1-AA1,1010,76
(b) The new business entity has assumed all liabilities of the business entity
7that is to be converted.
SB55-ASA1-AA1,1010,98
(c) The new business entity is vested with title to all property owned by the
9business entity that is to be converted without reversions or impairment.
SB55-ASA1-AA1,1010,1310
(d) The articles of incorporation, articles of organization, bylaws, operating
11agreement, certificate of limited partnership, or other similar governing document,
12whichever is applicable, of the new business entity are amended as provided in the
13plan of conversion.
SB55-ASA1-AA1,1010,1414
(e) All other provisions of the plan of conversion apply.
SB55-ASA1-AA1,1010,17
15(5) After a plan of conversion is submitted and approved, the business entity
16that is to be converted shall deliver to the department for filing a certificate of
17conversion that includes all of the following:
SB55-ASA1-AA1,1010,1818
(a) The plan of conversion.
SB55-ASA1-AA1,1010,2119
(b) A statement that the plan of conversion was approved in accordance with
20the applicable law of the jurisdiction that governs the organization of the business
21entity.
SB55-ASA1-AA1,1010,2322
(c) The delayed effective date of the conversion under s. 183.0111 (2), if
23applicable.
SB55-ASA1-AA1,1011,3
1(d) If a business entity other than a domestic limited liability company is
2converting to a domestic limited liability company, a copy of the articles of
3organization of the new domestic limited liability company.
SB55-ASA1-AA1,1011,74
(e) If a domestic limited liability company is to be converted to another form of
5business entity, a copy of the articles of incorporation, articles of organization,
6bylaws, operating agreement, certificate of limited partnership, or other similar
7governing document, whichever is applicable, of the new business entity.
SB55-ASA1-AA1,1011,11
8(6) Any civil, criminal, administrative, or investigatory proceeding that is
9pending against a business entity that is to be converted may be continued against
10the business entity after the effective date of conversion or against the new business
11entity.".
SB55-ASA1-AA1,1011,1614
194.01
(7) "Motor vehicle" means any automobile, truck, trailer, semitrailer,
15tractor, motor bus or any self-propelled or motor driven vehicle, except a
low-speed
16vehicle, motorcycle, moped, motor bicycle or a vehicle operated on rails.".
SB55-ASA1-AA1,1012,820
192.25
(2) No person operating or controlling any railroad, as defined in s.
2185.01 (5), may allow the operation of any railroad train or locomotive in this state
22unless the railroad train or locomotive has a crew of at least 2 individuals. One of
23the individuals shall be
a certified railroad locomotive engineer. The other
24individual shall be either a certified railroad locomotive engineer or a qualified
1railroad trainman. A certified railroad locomotive engineer shall present in the cab
2and shall operate the
lead control locomotive at all times that the railroad train or
3locomotive is in motion. The other crew member
shall be present in the cab of the
4lead control locomotive at all times that the railroad train or locomotive is in motion,
5except when the railroad train or locomotive is in motion for the purpose of switching.
6When the railroad train or locomotive is not in motion, the other crew member may
7dismount the railroad train or locomotive when necessary to perform switching
8activities and other duties in the course of his or her job.
SB55-ASA1-AA1,1012,1310
192.25
(3) (am) Subsection (2) does not apply to a railroad train or locomotive,
11other than a railroad train or locomotive carrying freight only, that is being operated
12as part of any commuter rail service operated by the state or any local governmental
13unit, as defined in s. 85.055 (1).
SB55-ASA1-AA1,1012,1715
192.25
(3) (b)
Subsection (2) This section does not apply to the extent that it
16is contrary to or inconsistent with a regulation or order of the federal railroad
17administration.".
SB55-ASA1-AA1,1012,2320
185.981
(4t) A sickness care plan operated by a cooperative association is
21subject to ss. 252.14, 631.17, 631.89, 631.95, 632.72 (2), 632.745 to 632.749, 632.85,
22632.853, 632.855, 632.87 (2m), (3), (4)
, and (5),
632.872, 632.895 (10) to (14)
, and
23632.897 (10) and chs. 149 and 155.
SB55-ASA1-AA1,1013,7
1185.983
(1) (intro.) Every such voluntary nonprofit sickness care plan shall be
2exempt from chs. 600 to 646, with the exception of ss. 601.04, 601.13, 601.31, 601.41,
3601.42, 601.43, 601.44, 601.45, 611.67, 619.04, 628.34 (10), 631.17, 631.89, 631.93,
4631.95, 632.72 (2), 632.745 to 632.749, 632.775, 632.79, 632.795, 632.85, 632.853,
5632.855, 632.87 (2m), (3), (4)
, and (5),
632.872, 632.895 (5) and (9) to (14), 632.896
, 6and 632.897 (10) and chs. 609, 630, 635, 645
, and 646, but the sponsoring association
7shall:".
SB55-ASA1-AA1,1013,1210
194.04
(6) Disposition of fees collected. All moneys received under this
11section shall be paid into the
state and local highways account in the transportation
12fund.
SB55-ASA1-AA1,1014,2
14194.51 Suit to recover protested tax. No suit shall be maintained in any
15court to restrain or delay the collection or payment of the taxes levied in this chapter.
16The aggrieved taxpayer shall pay the tax as and when due, and, if paid under protest,
17may at any time within 90 days from the date of such payment, sue the state in an
18action at law to recover the tax so paid. If it is finally determined that said tax, or
19any part thereof, was wrongfully collected for any reason, it shall be the duty of the
20department of administration to issue a warrant on the state treasurer for the
21amount of such tax so adjudged to have been wrongfully collected, and the treasurer
22shall pay the same out of the
state and local highways account in the transportation
23fund. A separate suit need not be filed for each separate payment made by any
24taxpayer, but a recovery may be had in one suit for as many payments as may have
1been made within any 90-day period preceding the commencement of such an action.
2Such suits shall be commenced as provided in s. 775.01.".
SB55-ASA1-AA1,1014,75
186.094
(2) Legal counsel,
certified public accountants
licensed or certified
6under ch. 442, or other persons as to matters the director or officer believes in good
7faith are within the person's professional or expert competence.
SB55-ASA1-AA1,1014,129
186.15
(1) Annual audit. Except as provided in sub. (2), the board of directors
10shall hire a
licensed certified public accountant
licensed or certified under ch. 442 or
11other qualified person to conduct a comprehensive annual audit of the records,
12accounts and affairs of the credit union.
SB55-ASA1-AA1,1014,1714
187.31
(2) Legal counsel,
certified public accountants
licensed or certified
15under ch. 442, or other professional persons or experts employed by the incorporated
16Roman Catholic church, as to matters the director or officer believes in good faith are
17within the person's professional or expert competence.
SB55-ASA1-AA1,1014,2219
187.41
(2) Legal counsel,
certified public accountants
licensed or certified
20under ch. 442, or other professional persons or experts employed by the religious
21organization, as to matters the director or officer believes in good faith are within the
22person's professional or expert competence.".
SB55-ASA1-AA1,1015,5
1186.01
(2) "Credit union" means
, except as specifically provided under ss.
2186.41 (1) and 186.45 (1), a cooperative, nonprofit corporation, incorporated under
3this chapter to encourage thrift among its members, create a source of credit at a fair
4and reasonable cost
, and provide an opportunity for its members to improve their
5economic and social conditions.
SB55-ASA1-AA1,1015,87
186.02
(2) (a) 1. The conditions
of residence or occupation which qualify persons 8that determine eligibility for membership.
SB55-ASA1-AA1,1015,1710
186.02
(2) (b) 2.
Residents Except as otherwise provided in this subdivision,
11individuals who reside or are employed within
a well-defined
neighborhood,
12community or rural district and contiguous neighborhoods and communities. If the
13office of credit unions, subsequent to a credit union merger, determines that it would
14be inappropriate under the circumstances to require members of the credit union
15that results from the merger to reside or be employed in contiguous neighborhoods
16and communities, the requirement that these neighborhoods and communities be
17contiguous does not apply.
SB55-ASA1-AA1,1015,2019
186.02
(2) (b) 2m. Individuals who reside or are employed within well-defined
20and contiguous rural districts or multicounty regions.
SB55-ASA1-AA1,1016,222
186.02
(2) (c) Members of the immediate family of all qualified persons are
23eligible for membership.
In this paragraph, "members of the immediate family"
24include the wife, husband, parents, stepchildren and children of a member whether
1living together in the same household or not and any other relatives of the member
2or spouse of a member living together in the same household as the member.
SB55-ASA1-AA1, s. 2942
3Section 2942. 186.02 (2) (d) of the statutes is renumbered 186.02 (2) (d) 1. and
4amended to read:
SB55-ASA1-AA1,1016,85
186.02
(2) (d) 1.
Organizations and associations An organization or association 6of individuals, the majority of
whom the directors, owners, or members of which are
7eligible for membership, may be admitted to membership in the same manner and
8under the same conditions as individuals.
SB55-ASA1-AA1,1016,1210
186.02
(2) (d) 2. An organization or association that has its principal business
11location within any geographic limits of the credit union's field of membership may
12be admitted to membership.
SB55-ASA1-AA1,1016,1514
186.11
(4) (title)
Investment in credit union service corporations
15organizations.
SB55-ASA1-AA1, s. 2945
16Section 2945. 186.11 (4) (a) of the statutes is renumbered 186.11 (4) (a) (intro.)
17and amended to read:
SB55-ASA1-AA1,1016,2118
186.11
(4) (a) (intro.)
A Unless the office of credit unions approves a higher
19percentage, a credit union may invest not more than 1.5% of its total assets in the
20capital shares or obligations of
a credit union service
corporation organizations that
21satisfy all of the following:
SB55-ASA1-AA1,1016,23
222. Are organized primarily to provide goods and services to credit unions, credit
23union organizations
, and credit union members.
SB55-ASA1-AA1,1017,3
1186.11
(4) (a) 1. Are corporations, limited partnerships, limited liability
2companies, or other entities that are permitted under the laws of this state and that
3are approved by the office of credit unions.
SB55-ASA1-AA1,1017,65
186.11
(4) (b) (intro.) A
credit union service
corporation organization under par.
6(a) may provide goods and services including any of the following:
SB55-ASA1-AA1,1017,127
1. Credit union operations services, including service centers, credit and debit
8card services, automated teller and remote terminal services,
electronic transaction
9services, accounting systems, data processing, management training and support,
10payment item processing, record retention and storage, locator services, research,
11debt collection, credit analysis and loan servicing, coin and currency services
, and
12marketing and advertising services.
SB55-ASA1-AA1,1017,1514
186.11
(4) (c) A
credit union service
corporation organization may be subject
15to audit by the office of credit unions.
SB55-ASA1-AA1,1017,2217
186.113
(1) Branch offices. If the need and necessity exist and with With the
18approval of the office of credit unions, establish branch offices inside
this state or no
19more than 25 miles or outside of this state. Permanent records may be maintained
20at branch offices established under this subsection. In this subsection, the term
21"branch office" does not include a remote terminal, a limited services office
, or a
22service center.
SB55-ASA1-AA1,1018,3
1186.113
(1m) (a) (intro.)
Establish Before the effective date of this paragraph
2.... [revisor inserts date], establish limited services offices outside this state to serve
3any member of the credit union if all of the following requirements are met:
SB55-ASA1-AA1,1018,75
186.113
(6) (b) Act as trustees
or custodians of member tax deferred
retirement 6funds
, individual retirement accounts, medical savings accounts, or other employee
7benefit accounts or funds permitted by federal law to be deposited in a credit union.
SB55-ASA1-AA1,1018,98
(c) Act as a depository for
member-deferred member qualified and
9nonqualified deferred compensation funds as permitted by federal law.
SB55-ASA1-AA1,1018,1211
186.113
(24) Funeral trusts. Accept deposits made by members for the
12purpose of funding burial agreements by trusts created pursuant to s. 445.125.
SB55-ASA1-AA1,1018,16
14186.20 Financial privacy. A credit union shall comply with any applicable
15requirements under
15 USC 6801 to
6803 and any applicable regulations prescribed
16by the national credit union administration under
15 USC 6804.
SB55-ASA1-AA1,1018,2318
186.235
(7) (a) (intro.) Employees of the office of credit unions and members
19of the review board shall keep secret all the facts and information obtained in the
20course of examinations
, except or contained in any report provided by a credit union
21other than any semiannual or quarterly financial report that is regularly filed with
22the office of credit unions. This requirement does not apply in any of the following
23situations:
SB55-ASA1-AA1,1019,6
1186.235
(7) (c) If any person mentioned in par. (a) discloses any information
2about the private account or transactions of a credit union or any information
3obtained in the course of an examination of a credit union, except as provided in pars.
4(a) and (b), that person may be required to forfeit his or her office or position and may
5be fined not less than $100 nor more than $1,000, or imprisoned for not less than 6
6months nor more than 3 years, or both.
SB55-ASA1-AA1,1019,108
186.235
(7m) Return of examination reports. Examination reports possessed
9by a credit union are confidential, remain the property of the office of credit unions,
10and shall be returned to the office of credit unions immediately upon request.
