Amendment ASA1-AB131

LRBs0043/1

MDK:nwn&jld:md

2009 - 2010 LEGISLATURE

ASSEMBLY SUBSTITUTE AMENDMENT 1, TO 2009 ASSEMBLY BILL 131

April 21, 2009 - Offered by Committee on Judiciary and Ethics.

AB131-ASA1,1,2 An Act to amend 425.109 (1) (intro.) of the statutes; relating to: pleading requirements for consumer credit actions under the Wisconsin Consumer Act.

Analysis by the Legislative Reference Bureau

Under current law, a consumer credit transaction in which the amount financed is $25,000 or less, and which is entered into for personal, family, or household purposes, is generally subject to the Wisconsin Consumer Act (WCA). The WCA includes requirements for a creditor to satisfy to enforce rights arising from a consumer credit transaction that is subject to the WCA, including pleading requirements for a complaint filed by a creditor to enforce such rights. In Rsidue, L.L.C. v. Michaud, 2006 WI App 164, 295 Wis. 2d 585, 721 N.W. 2d 718, the Wisconsin Court of Appeals held that because the WCA does not refer to an assignee of a creditor, the pleading requirements do not apply to an assignee.

This substitute amendment amends the WCA to specify that the pleading requirements do apply to an assignee of a creditor, as well as any other person seeking to enforce a cause of action arising under such a transaction.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

AB131-ASA1, s. 1 Section 1. 425.109 (1) (intro.) of the statutes is amended to read:

AB131-ASA1,2,3 425.109 (1) (intro.) A complaint by a creditor , its assignee, or any other person to enforce any cause of action arising from a consumer credit transaction shall include all of the following:

AB131-ASA1,2,4 (End)