AB40-ASA1,1089,166
132.04
(2) All such written statements or descriptions and all such certificates
7of publication so filed or recorded shall be subject at all reasonable hours to public
8inspection. The
secretary of state department and the register of deeds shall deliver
9to all applicants certified copies of all such written statements or descriptions or
10names, brands, designs, trademarks, devices, or other marks of ownership and of all
11certificates of publication filed or recorded with them and such certified copies shall
12be admissible in evidence in all prosecutions under ss. 132.04 to 132.08, and shall be
13prima facie evidence that this section has been complied with, and of the title of the
14owner named therein to the property upon which the name, brand, design,
15trademark, device
, or other marks of ownership of the owner appear as described
16therein.
AB40-ASA1,1089,2218
132.04
(3) The
secretary of state
department shall receive a fee of $15 and the
19register of deeds shall receive the fee specified in s. 59.43 (2) (ag) or (e) for each
20statement and certificate of publication filed or recorded and shall also receive the
21fee specified in s. 59.43 (2) (b) for each certified copy of such statement and certificate
22of publication, to be paid for by the person filing, recording or applying for the same.
AB40-ASA1,1090,224
132.04
(4) (a) The
secretary of state
department and register of deeds shall
25cancel a statement or description under this section upon the request of the person
1named in the records of the
secretary of state department or register of deeds as the
2owner of marks of ownership described in the statement or description.
AB40-ASA1,1090,43
(b) The
secretary of state department and register of deeds may not charge a
4fee for canceling a statement or description under par. (a).
AB40-ASA1,1090,76
132.11
(1) (intro.) The
secretary of state department shall do all of the
7following:
AB40-ASA1,1090,139
132.11
(1) (c) Cancel the description of a name, brand or trademark recorded
10under par. (a) upon the request of the person, firm or corporation named in the
11records of the
secretary of state department as the owner of the name, brand or
12trademark. The
secretary of state department may not charge a fee for canceling a
13description under this paragraph.
AB40-ASA1,1090,1815
132.16
(1m) Any organization may register
, in the office of the secretary of
16state, with the department a facsimile, duplicate, or description of any of the
17organization's identifying information and may, by reregistration, alter or cancel the
18organization's identifying information.
AB40-ASA1,1090,2420
132.16
(2) Application for registration or reregistration under sub. (1m) shall
21be made by the organization's chief officer or officers upon forms provided by the
22secretary of state department. The registration shall be for the use, benefit, and on
23behalf of the organization and the organization's current and future individual
24members throughout this state.
AB40-ASA1,1091,3
1132.16
(3) The
secretary of state department shall keep a properly indexed file
2of all registrations under this section, which shall also show any alterations or
3cancelations by reregistration.
AB40-ASA1,1091,75
132.16
(5) Upon granting registration under this section, the
secretary of state 6department shall issue
his or her
a certificate to the petitioners, setting forth the fact
7of the registration.
AB40-ASA1,1091,149
132.16
(6) The fees of the
secretary of state department for registration or
10reregistration under this section, searches made by the
secretary of state 11department, and certificates issued by the
secretary of state department under this
12section, shall be the same as provided by law for similar services. The fees collected
13under this section shall be paid by the
secretary of state department into the state
14treasury.
AB40-ASA1,1091,1916
137.01
(1) (a) The governor shall appoint notaries public who shall be United
17States residents and at least 18 years of age. Applicants who are not attorneys shall
18file an application with the
secretary of state department of financial institutions 19and pay a $20 fee.
AB40-ASA1,1091,2421
137.01
(1) (b) The secretary of
state
financial institutions shall satisfy himself
22or herself that the applicant has the equivalent of an 8th grade education, is familiar
23with the duties and responsibilities of a notary public and, subject to ss. 111.321,
24111.322 and 111.335, does not have an arrest or conviction record.
AB40-ASA1,1092,4
1137.01
(1) (d) Qualified applicants shall be notified by the
secretary of state 2department of financial institutions to take and file the official oath and execute and
3file an official bond in the sum of $500, with a surety executed by a surety company
4and approved by the secretary of
state financial institutions.
AB40-ASA1,1092,86
137.01
(1) (e) The qualified applicant shall file his or her signature, post-office
7address and an impression of his or her official seal, or imprint of his or her official
8rubber stamp with the
secretary of state department of financial institutions.
AB40-ASA1,1092,1210
137.01
(1) (g) At least 30 days before the expiration of a commission the
11secretary of state department of financial institutions shall mail notice of the
12expiration date to the holder of a commission.
AB40-ASA1,1092,2014
137.01
(2) (a) Except as provided in par. (am), any United States resident who
15is licensed to practice law in this state is entitled to a permanent commission as a
16notary public upon application to the
secretary of state department of financial
17institutions and payment of a $50 fee. The application shall include a certificate of
18good standing from the supreme court, the signature and post-office address of the
19applicant and an impression of the applicant's official seal, or imprint of the
20applicant's official rubber stamp.
AB40-ASA1,1093,422
137.01
(2) (am) If a United States resident has his or her license to practice law
23in this state suspended or revoked, upon reinstatement of his or her license to
24practice law in this state, the person may be entitled to receive a certificate of
25appointment as a notary public for a term of 4 years. An eligible notary appointed
1under this paragraph is entitled to reappointment for 4-year increments. At least
230 days before the expiration of a commission under this paragraph the
secretary of
3state department of financial institutions shall mail notice of the expiration date to
4the holder of the commission.
AB40-ASA1,1093,96
137.01
(2) (b) The secretary of
state
financial institutions shall issue a
7certificate of appointment as a notary public to persons who qualify under the
8requirements of this subsection. The certificate shall state that the notary
9commission is permanent or is for 4 years.
AB40-ASA1,1093,1411
137.01
(2) (c) The supreme court shall file with the
secretary of state 12department of financial institutions notice of the surrender, suspension or revocation
13of the license to practice law of any attorney who holds a permanent commission as
14a notary public. Such notice shall be deemed a revocation of said commission.
AB40-ASA1,1093,1816
137.01
(6) (a) The secretary of
state
financial institutions may certify to the
17official qualifications of any notary public and to the genuineness of the notary
18public's signature and seal or rubber stamp.
AB40-ASA1,1093,2320
137.01
(6m) Change of residence. A notary public does not vacate his or her
21office by reason of his or her change of residence within the United States. Written
22notice of any change of address shall be given to the
secretary of state department
23of financial institutions within 10 days of the change.
AB40-ASA1,1094,11
1137.01
(7) Official records to be filed. When any notary public ceases to hold
2office, the notary public, or in case of the notary public's death the notary public's
3personal representative, shall deposit the notary public's official records and papers
4in the office of the secretary of state with the department of financial institutions.
5If the notary or personal representative, after the records and papers come to his or
6her hands, neglects for 3 months to deposit them, he or she shall forfeit not less than
7$50 nor more than $500. If any person knowingly destroys, defaces, or conceals any
8records or papers of any notary public, the person shall forfeit not less than $50 nor
9more than $500, and shall be liable for all damages resulting to the party injured.
10The
secretary of state department of financial institutions shall receive and safely
11keep all such papers and records.
AB40-ASA1,1094,18
13138.045 Method of calculating interest. Interest on any note, bond, or
14other instrument computed on the declining unpaid principal balance from time to
15time outstanding may be computed and charged on actual unpaid balances at 1/360
16of the annual rate for the actual number of days outstanding if the use of this
17calculation method is disclosed in the note, bond, or other instrument. This section
18does not apply to pawnbrokers' loans under s. 138.10.
AB40-ASA1,1094,2120
138.09
(1a) (a) Banks, savings banks, savings and loan associations, trust
21companies, credit unions
, or any of their affiliates.
AB40-ASA1,1094,2323
138.14
(1) (bd) "Consumer report" has the meaning given in
15 USC 1681a (d).
AB40-ASA1,1095,2
1138.14
(1) (be) "Consumer reporting agency" has the meaning given in
15 USC
21681a (f).
AB40-ASA1,1095,104
138.14
(1) (k) 1. A transaction between an individual with an account at a
5financial establishment and another person, including a person who is not physically
6located in this state, in which the person agrees to accept from the individual one or
7more checks, to hold the check or checks for a period of time before negotiating or
8presenting the check or checks for payment, and to loan to the individual,
for a term
9of 90 days or less, before negotiating or presenting the check or checks for payment,
10an amount that is agreed to by the individual.
AB40-ASA1,1095,1812
138.14
(1) (k) 2. A transaction between an individual with an account at a
13financial establishment and another person, including a person who is not physically
14located in this state, in which the person agrees to accept the individual's
15authorization to initiate one or more electronic fund transfers from the account, to
16wait a period of time before initiating the electronic fund transfer or transfers, and
17to loan to the individual,
for a term of 90 days or less, before initiating the electronic
18fund transfer or transfers, an amount that is agreed to by the individual.
AB40-ASA1,1095,2220
138.14
(3) Exemptions. This section does not apply to banks, savings banks,
21savings and loan associations, trust companies, credit unions
, or any of their
22affiliates.
AB40-ASA1,1095,2524
138.14
(7) (e) 6. The number of payday loans made during the preceding year
25that resulted in repayment under sub. (11g)
(a).
AB40-ASA1,1096,32
138.14
(9g) (a) 6. Disclose to the applicant the payment requirements that may
3apply under sub. (11g)
(a) if the loan is not paid in full at the end of the loan term.
AB40-ASA1,1096,115
138.14
(9m) Income verification. Before entering into a payday loan with an
6applicant that has not previously been a customer of the licensee, the licensee may
7request the applicant's consumer report from a consumer reporting agency as part
8of the licensee's underwriting process and the licensee may rely on the consumer
9report as a permissible method of income verification in making the payday loan.
10The licensee may also rely on the same consumer report in underwriting and making
11subsequent payday loans to the same customer.
AB40-ASA1,1096,1413
138.14
(9r) (c) 4. The percentage of customers originating payday loans that
14resulted in repayment under sub. (11g)
(a).
AB40-ASA1,1097,216
138.14
(10) (a) 2. If a payday loan is not paid in full on or before the maturity
17date, a licensee may
charge, after the maturity date, interest at a rate not
exceeding
182.75 percent per month, except that if a licensee makes a subsequent payday loan to
19the customer under sub. (12) (a), and the customer does not pay the subsequent loan
20in full on or before the maturity date of the subsequent loan, the licensee may charge,
21after the maturity date of the
subsequent loan, interest
at a rate not exceeding 2.75
22percent per month on the subsequent loan and the licensee may not charge any
23interest under this subdivision on the prior loan. Interest earned under this
24subdivision shall be calculated at the rate of one-thirtieth of the monthly rate
1charged for each calendar day that the balance of the loan is outstanding. Interest
2may not be assessed on any interest earned under this subdivision.
AB40-ASA1,1097,74
138.14
(10) (am)
Penalties. Except as provided in par. (b) 2., no licensee may
5impose any penalty on a customer arising from the customer's prepayment of or
6default or late payment on a payday loan, including any payment under sub. (11g)
7(a).
AB40-ASA1, s. 2637hc
8Section 2637hc. 138.14 (11g) of the statutes is renumbered 138.14 (11g) (a)
9and amended to read:
AB40-ASA1,1097,1410
138.14
(11g) (a)
If Except as provided in par. (b), if a customer fails to repay a
11payday loan in full at the end of the loan term, the licensee that made the loan shall
12offer the customer the opportunity to repay the outstanding balance of the loan in
134 equal installments with due dates coinciding with the customer's pay period
14schedule.
AB40-ASA1,1097,1916
138.14
(11g) (b) If a licensee offers a customer the opportunity to make
17repayment under par. (a), then, during the 12-month period following the offer, no
18licensee, including the licensee making the offer, is required to offer the customer
19another opportunity to repay a payday loan under par. (a).
AB40-ASA1,1098,221
138.14
(12) (b) No licensee may make a payday loan to a customer that results
22in the customer having an outstanding aggregate liability in principal, interest, and
23all other fees and charges, to all licensees who have made payday loans to the
24customer of more than $1,500 or 35 percent of the customer's gross monthly income,
1whichever is less.
As provided in sub. (9m), a licensee may rely on a consumer report
2to verify a customer's income for purposes of this paragraph.
AB40-ASA1,1098,134
138.14
(14) (d) 4.
Designate Automatically designate a payday loan as paid in
5the database 5 days after the maturity date of the loan unless a licensee reports to
6the database provider before that time that the loan remains open because of the
7customer's failure to make payment; that the loan is open because the customer's
8check or an electronic redeposit is in the process of clearing the banking system; that
9the loan remains open because the customer's check is being returned to the licensee
10for insufficient funds, a closed account, or a stop payment order; or that any other
11factors determined by the division are applicable. If a licensee makes such a report,
12the database provider shall designate the payday loan as an open transaction until
13the database provider is notified that the transaction is closed.
AB40-ASA1,1098,2315
138.14
(14) (h) The division shall
, by order or rule, specify a database
16transaction fee
of no more than $1 that the database provider shall charge to
17licensees to cover the costs of developing and implementing the database, and
18accessing the database to verify that a customer does not have any payday loans with
19the licensee or others that in combination with a new transaction will create a
20violation of this section. The database fee is payable directly to the division in a
21manner prescribed by the division and, if the department has contracted with a
223rd-party provider to operate the database, the division shall remit the fee to the
233rd-party provider as specified in the contract.
AB40-ASA1,1099,6
1138.14
(14) (j) If the database, as determined by the division, is not fully
2operational, or the licensee is unable to access the database and, as determined
3under rules promulgated by the division, the alternate process established under
4par. (d) 2. is also unavailable, a licensee may rely upon the written verification of the
5customer in a statement provided in substantially the following form in at least
612-point type:
AB40-ASA1,1099,9
7"I DO NOT HAVE ANY OUTSTANDING PAYDAY LOANS WITH THIS
8LICENSEE AND I DO NOT HAVE MORE PAYDAY LOANS WITH ANY OTHER
9LICENSED PAYDAY LOAN PROVIDER IN THIS STATE."
AB40-ASA1,1099,1211
138.16
(1) (a) "Division" means the division of banking attached to the
12department of financial institutions.
AB40-ASA1,1099,1514
138.16
(1) (bm) "Licensed location" means the location specified in a license
15issued under s. 138.09 (1m) (a).
