AB933,3,9
8(1) The state, the investment board,
all public officers, municipal corporations,
9political subdivisions
, and public bodies
, all banks.
AB933,3,13
10(2) Banks and bankers, savings and loan associations, credit unions, trust
11companies, savings banks and institutions, investment companies, insurance
12companies, insurance associations
, and other persons carrying on a banking or
13insurance business
, and all executors, administrators
.
AB933,3,17
14(3) Personal representatives, guardians, trustees
, and other fiduciaries
, may
15legally invest any sinking funds, moneys or other funds belonging to them or within
16their control in any revenue obligations issued under this subchapter. Such revenue
17obligations shall be authorized security for all public deposits.
Note: Text is reordered to accommodate subdivision of this provision.
AB933, s. 2
18Section
2. 24.33 of the statutes is renumbered 24.33 (1) (intro.) and amended
19to read:
AB933,3,2420
24.33
(1) (intro.)
Whenever any land has been so forfeited and resold The board,
21within 3 months
thereafter, upon proof after a resale under s. 24.32, may by a written
22recorded order, a copy of which shall be immediately served on the purchaser of the
23resold land, avoid and cancel the resale and restore and revive the certificate issued
24to the original purchaser of the land under s. 24.17, after all of the following occur:
AB933,4,2
1(a) Proof is made that there are valuable improvements
thereon and that such 2on the resold land.
AB933,4,5
3(b) Proof is made that the forfeiture was occasioned by the death of the holder
4of the first certificate, or the neglect of
that person's executor or administrator, and
5payment the first certificate holder's personal representative.
AB933,4,11
6(c) Payment is made to the treasurer
of in the amount actually due on
such
the 7first certificate at the time of
such the resale, with interest, costs
, and charges,
and 8with interest on the amount for which
such the land was sold at the rate of 10% per
9year
, the board, by its order in writing, duly recorded, of which a copy shall be
10forthwith served on the last purchaser, may avoid and cancel such resale and restore
11and revive such first certificate. Thereafter there.
AB933,4,16
12(2) Upon the surrender of the certificate, receipt, or patent given upon the
13resale, the purchaser of the resold land shall be paid out of the state treasury
to the
14last purchaser the amount paid by the
last purchaser
and at resale, together with the
15said interest
thereon collected
of such from the person
so redeeming
, on surrender
16of the certificate, receipt or patent given the last purchaser at such resale the land.
Note: Subdivides provision, reorders text, and inserts cross-references and more
specific language for improved readability and conformity with current style.
AB933, s. 3
17Section
3. 30.35 (7) (d) of the statutes is amended to read:
AB933,4,1918
30.35
(7) (d)
Administrators, executors Personal representatives, guardians,
19trustees
, and other fiduciaries.
AB933, s. 4
20Section
4. 30.541 (3) (d) 1. a. and b. of the statutes are amended to read:
AB933,5,221
30.541
(3) (d) 1. a. Evidence satisfactory to the department of
the appointment
22of a trustee in bankruptcy or of the issuance of
the letters of administration, letters
1testamentary
or other letters authorizing the administration of a decedent's estate,
2letters of guardianship,
or letters of trust
or appointment of a trustee in bankruptcy.
AB933,5,43
b. Title executed by the
administrator, executor
personal representative,
4guardian
, or trustee.
AB933, s. 5
5Section
5. 36.29 (2) of the statutes is amended to read:
AB933,5,196
36.29
(2) All gifts, grants
, or bequests under sub. (1) may be made to the board,
7the president, a chancellor
, or any officer, or to any person as trustee, or may be
8charged upon any
executor personal representative, trustee, heir, devisee
, or legatee,
9or made in any other manner indicating an intention to create a trust, and may be
10made as well for the benefit of the system or any of its institutions, colleges, schools,
11departments
, or facilities to provide any means of instruction, illustration
, or
12knowledge in connection therewith, or for the benefit of any students or any class or
13group of students whether by way of scholarship, fellowship
, or otherwise, or
14whether for the benefit of students or any class or group of students in any course,
15subcourse, special course, postgraduate course, summer school or teachers course,
16oratorical or debating course, laboratory, shop, lectureship, drill, gymnasium or any
17other like division or department of study, experiment, research, observation, travel
, 18or mental or physical improvement in any manner connected with the system, or to
19provide for the voluntary retirement of any of the faculty.
AB933, s. 6
20Section
6. 39.32 (6) of the statutes is amended to read:
AB933,6,521
39.32
(6) The board shall satisfy the loan of any student who obtained a loan
22under this section or
under s. 39.023, 1965 stats., between July 1, 1966, and
23December 15, 1968,
where such if the student
died or dies after July 1, 1966, and
24before completing repayment
thereof of the loan, and shall write off the balance of
25principal and interest owing on the loan on the date
it that the board received
1confirmation of
such the student's death. Obligation to repay such a loan shall
2terminate on the date of the student's death and any payments made
thereon on the
3loan to the board after
such the date
of the student's death shall be refunded to the
4payor or the payor's heirs
, executor or
administrator personal representative upon
5receipt by the board of an application for refund.
AB933, s. 7
6Section
7. 45.37 (10) (d) of the statutes is amended to read:
AB933,6,107
45.37
(10) (d) A person who at the time of death is a member of the home is a
8resident of Waupaca County for the probate of the person's will
and, issuance of
9letters testamentary
or other letters authorizing the administration of the decedent's
10estate, and the administration of the estate.
AB933, s. 8
11Section
8. 59.35 (2) of the statutes is amended to read:
AB933,6,1812
59.35
(2) The coroner shall be responsible for every default or misconduct in
13office of a deputy coroner during the coroner's term of office, and after the
coroner's 14death, resignation
, or removal from office
of the coroner, as well as before
; and an.
15An action for any
such default or misconduct
under this subsection may be
16prosecuted against the coroner and the sureties on the coroner's official bond or
17against the
executors and administrators of the coroner coroner's personal
18representative.
AB933, s. 9
19Section
9. 66.0823 (13) of the statutes is renumbered 66.0823 (13) (a) (intro.)
20and amended to read:
AB933,7,221
66.0823
(13) (a) (intro.)
Public officers and agencies of the state, political
22subdivisions, insurance companies, trust companies, banks, savings banks, savings
23and loan associations, investment companies, personal representatives, executors,
24administrators, trustees and other fiduciaries Any of the following may
properly and
1legally invest funds, including capital in their control or belonging to them, in bonds
2of the authority
.:
AB933,7,6
3(b) The authority's bonds are securities that may
properly and legally be
4deposited with and received by any officer or agency of the state or any political
5subdivision for any purpose for which the deposit of bonds or
obligation obligations 6of the state or any political subdivision is authorized by law.
Note: Subdivides long provision for improved readability and conformity with
current style. See the next section of this bill.
AB933, s. 10
7Section
10. 66.0823 (13) (a) 1. to 11. of the statutes are created to read:
AB933,7,88
66.0823
(13) (a) 1. Public officers and agencies of the state.
AB933,7,99
2. Political subdivisions.
AB933,7,1010
3. Insurance companies.
AB933,7,1111
4. Trust companies.
AB933,7,1313
6. Savings banks.
AB933,7,1414
7. Savings and loan associations.
AB933,7,1515
8. Investment companies.
AB933,7,1616
9. Personal representatives.
AB933,7,1717
10. Trustees.
AB933,7,1818
11. Other fiduciaries not listed in this paragraph.
Note: See the previous section of this bill.
AB933, s. 11
19Section
11. 66.0825 (15) of the statutes is renumbered 66.0825 (15) (a) (intro.)
20and amended to read:
AB933,8,321
66.0825
(15) (a) (intro.)
All public officers and agencies and political
22subdivisions of the state and all insurance companies, trust companies, banks,
23savings banks, savings and loan associations, investment companies, executors,
1administrators, trustees and other fiduciaries Any of the following may invest funds,
2including capital in their control or belonging to them, in bonds issued by a company
3under this section
.:
AB933,8,7
4(b) The bonds
described in par. (a) may be deposited with and received by any
5officer or agency of the state or any political subdivision for any purpose for which
6the deposit of bonds or
obligation obligations of the state or any political subdivision
7is authorized by law.
Note: See the next section of this bill.
AB933, s. 12
8Section
12. 66.0825 (15) (a) 1. to 10. of the statutes are created to read:
AB933,8,109
66.0825 (15) (a) 1. Public officers and agencies and political subdivisions of the
10state.
AB933,8,1111
2. Insurance companies.
AB933,8,1212
3. Trust companies.
AB933,8,1414
5. Savings banks.
AB933,8,1515
6. Savings and loan associations.
AB933,8,1616
7. Investment companies.
AB933,8,1717
8. Personal representatives.
AB933,8,1818
9. Trustees.
AB933,8,1919
10. Other fiduciaries not listed in this paragraph.
Note: See the previous section of this bill.
AB933, s. 13
20Section
13. 66.1309 (intro.) of the statutes is renumbered 66.1309 (2) (intro.)
21and amended to read:
AB933,9,1122
66.1309
(2) (intro.) Notwithstanding any other law or the absence of direct
23provision for transfer of land in the instrument under which a fiduciary is acting,
1every
executor, administrator, trustee, guardian or other person, holding trust funds
2or acting in a fiduciary capacity fiduciary, unless the instrument under which the
3fiduciary is acting expressly forbids,
the state, its subdivisions, cities, all other public
4bodies, all public officers,
corporations organized under or subject to the provisions
5of the banking law, the division of banking as conservator, liquidator or rehabilitator
6of any person, partnership or corporation, persons, partnerships and corporations
7organized under or subject to the provisions of the banking law, the commissioner of
8insurance as conservator, liquidator or rehabilitator of any person, partnership or
9corporation, any of which and every governmental unit, bank, or conservator that 10owns or holds any real property within a development area
, may do all of the
11following:
Note: Subdivides long provision by moving text to separate definitions for
improved readability and conformity with current style. See the next section of this bill.
AB933, s. 14
12Section
14. 66.1309 (1) of the statutes is created to read:
AB933,9,1313
66.1309
(1) In this section:
AB933,9,1514
(a) "Bank" means a corporation organized under or subject to the provisions of
15the banking law.
AB933,9,1616
(b) "Conservator" means any of the following:
AB933,9,1917
1. The division of banking as conservator, liquidator, or rehabilitator of any
18person, partnership, or corporation, and persons, partnerships, and corporations
19organized under or subject to the provisions of the banking law.
AB933,9,2120
2. The commissioner of insurance as conservator, liquidator, or rehabilitator of
21any person, partnership, or corporation.
AB933,9,2322
(c) "Fiduciary" means a personal representative, trustee, guardian, or other
23person holding trust funds or acting in a fiduciary capacity.
AB933,10,2
1(d) "Governmental unit" means the state, its subdivisions, cities, all other
2public bodies, and all public officers.
AB933, s. 15
3Section
15. 66.1317 (2) (a) 1. of the statutes is amended to read:
AB933,10,64
66.1317
(2) (a) 1. Every
executor, administrator personal representative,
5trustee, guardian, committee
, or other person or corporation holding trust funds or
6acting in a fiduciary capacity.
AB933, s. 16
7Section
16. 70.19 (1) of the statutes is amended to read:
AB933,10,208
70.19
(1) When personal property
shall be is assessed
under s. 70.18 (1) to
some 9a person in charge or possession
thereof of the personal property other than the
10owner
or person beneficially entitled thereto as hereinbefore provided, the
11assessment
thereof of that personal property shall be entered upon the assessment
12roll separately from the
same person's assessment of
the that person's own personal
13property, adding to the person's name upon
such the tax roll words briefly indicating
14that
such the assessment is made to the person as the person in charge or possession
15thereof as occupant or possessor of the premises on which such property is stored or
16piled or as the spouse, agent, lessee, occupant, mortgagee, pledgee, executor,
17administrator, trustee, assignee, receiver or other representative of the owner or
18person beneficially entitled thereto; but a of the property. The failure to enter
such 19the assessment separately or to indicate the representative capacity or other
20relationship of the person assessed shall not affect the validity of the assessment.
Note: See the note following the next section of this bill.
AB933, s. 17
21Section
17. 70.19 (2) of the statutes is amended to read:
AB933,11,1422
70.19
(2) The person
so assessed
under sub. (1) and s. 70.18 (1) is personally
23liable for the tax on the property. The person
assessed under sub. (1) and s. 70.18 (1) 24has a personal right of action against the owner
or person beneficially entitled to of
1the property for the amount of the taxes
and; has a lien for that amount upon the
2property with the rights and remedies for the preservation and enforcement of that
3lien
as provided in ss. 779.45 and 779.48
,
; and is entitled to retain possession of the
4property until the owner
or person beneficially entitled to of the property pays the
5tax on the property or reimburses the person assessed for the tax
if paid by that
6person. The lien and right of possession relate back and exist from the time
when 7that the assessment is made, but may be released and discharged by giving to the
8person assessed such undertaking or other indemnity as the person accepts or by
9giving the person
assessed a bond in the amount and with the sureties as is directed
10and approved by the circuit
judge court of the county in which the property is
11assessed, upon 8 days' notice to the person assessed. The bond shall be conditioned
12to hold
and keep the person
against whom the assessment is made assessed free and
13harmless from
any and all costs, expense, liability or damage by reason of the
14assessment.
Note: Conforms provision to s. 70.18, which provides for the assessment of
personal property to a person other than the owner. Prior to enactment of ch. 366 of the
laws of 1959, ss. 70.18 and 70.19 referred to "owner or person beneficially interested" and
the capacity of persons who might hold property for a person beneficially interested. The
references to persons beneficially interested and the capacity of the persons holding the
property were deleted from s. 70.18 by ch. 366 of the laws of 1959, but not from s. 70.19.
As s. 70.19 relates to assessments under s. 70.18 and as s. 70.18, as affected by ch. 366
of the laws of 1959, applies to persons possessing personal property of others regardless
of capacity, the references to persons beneficially interested and the capacity of persons
holding property for those persons in s. 70.19 are unnecessary after their deletion from
s. 70.18.
AB933, s. 18
15Section
18. 70.21 (title) of the statutes is amended to read:
AB933,11,17
1670.21 (title)
Partnership; estates in hands of executor personal
17representative; personal property, how assessed.
AB933, s. 19
18Section
19. 70.21 (1) of the statutes is amended to read:
AB933,12,5
170.21
(1) Except as provided in sub. (2), the personal property of a partnership
2may be assessed in the names of the persons composing
such the partnership, so far
3as known or in the firm name or title under which the partnership business is
4conducted, and each partner shall be liable for the taxes levied
thereon on the
5partnership's personal property.
AB933,12,8
6(1m) Undistributed personal property belonging to the estate of a
person
7deceased decedent shall be assessed
to the executor or administrator if one shall have 8as follows:
AB933,12,11
9(a) If a personal representative has been appointed and qualified, on the first
10day of January in the year in which the assessment is made,
otherwise it the property
11shall be assessed to the personal representative.
AB933,12,18
12(b) If a personal representative has not been appointed and qualified, on the
13first day of January in the year in which the assessment is made, the property may
14be assessed to the
decedent's estate
of such deceased person, and the. The tax
15thereon on the property shall be paid by the
executor or administrator personal
16representative if one
be thereafter is subsequently appointed,
otherwise or by the
17person or persons in possession of
such the property at the time of the assessment
18if a personal representative is not appointed.
Note: Subdivides provision, reorders text, and inserts specific references to
improve readability and conformity with current style.
AB933, s. 20
19Section
20. 70.22 (1) of the statutes is amended to read:
AB933,13,1120
70.22
(1) In case one or more of 2 or more
executors of the will or administrators 21personal representatives or trustees of the estate of a decedent
whose domicile at the
22time of the decedent's death was who died domiciled in this state are not residents
23of the state, the taxable personal property belonging to the estate shall be assessed
1to the
executors, administrators personal representatives or trustees residing in this
2state. In case there are 2 or more
executors, administrators personal representatives 3or trustees of the same estate residing in this state, but in different taxation districts,
4the assessment of the taxable personal property belonging to the estate shall be in
5the
name names of all of the
executors, administrators personal representatives or
6trustees of the estate residing in this state. In case
the executor, administrator no
7personal representative or trustee
, or all of them if more than one, do not reside 8resides in this state, the taxable personal property belonging to the estate may be
9assessed in the name of the
executors or administrators personal representative or
10trustee, or in the names of all of the personal representatives or trustees if there are
11more than one, or in the name of the estate.
Note: Reorders text and eliminates unnecessary language. In the last sentence,
"trustee" is added for internal consistency.
AB933, s. 21
12Section
21. 70.22 (2) (b) of the statutes is amended to read:
AB933,13,1713
70.22
(2) (b) Before allowing the final account of a nonresident
executor,
14administrator personal representative or trustee, the court shall ascertain whether
15there are or will be any taxes remaining unpaid or to be paid on account of personal
16property belonging to the estate, and shall make any order or direction that is
17necessary to provide for the payment of the taxes.