AB850: Bill Text

Note: The subdividing of this subsection is unnecessary. It does not have multiple paragraphs.

AB850,16 Section 16. 628.02 (1) (b) 1. to 7m. of the statutes are amended to read:

AB850,8,6 628.02 (1) (b) 1. A regular salaried officer, employee , or other representative of an insurer or licensed intermediary, other than a risk retention group or risk purchasing group, who devotes substantially all working time to activities other than those in par. (a), and who receives no compensation that is directly dependent upon the amount of insurance business obtained;.

AB850,8,10 2. A regular salaried officer or employee of a person seeking to procure insurance, other than for members of a risk purchasing group, who receives no compensation that is directly dependent upon the amount of insurance coverage procured, with respect to such insurance;.

AB850,8,14 3. A person who gives incidental advice in the normal course of a business or professional activity other than insurance consulting if neither the person nor the person's employer receives compensation directly or indirectly on account of any insurance transaction that results from that advice;.

AB850,8,17 4. A person who without special compensation performs incidental services for another at the other's request without providing advice or technical or professional services of a kind normally provided by an intermediary; .

AB850,8,21 5. A holder of a group insurance policy, or any other person involved in mass marketing, with respect to administrative activities in connection with such a policy, if he or she receives no compensation therefor beyond actual expenses, estimated on a reasonable basis;.

AB850,8,23 6. A person who provides information, advice, or service for the principal purpose of reducing loss or the risk of loss;.

AB850,9,2 7. A person who gives advice or assistance without compensation, direct or indirect;.

AB850,9,3 7m. A person who acts solely as an agent, as defined in s. 616.71 (1); or.

Note: Conforms punctuation to current style.

AB850,17 Section 17. 701.0303 (8) (intro.) of the statutes, a created by 2013 Wisconsin Act 92 is amended to read:

AB850,9,8 701.0303 (8) (intro.) If there is no representation by a person having a substantially identical interest under s. 710.0304 701.0304, the trustee may appoint a representative to act if any of the following applies:

Note: Inserts correct cross-reference by correcting transposed digits. There is no s. 710.0304. Section 701.0304 relates to representation of persons having substantially identical interests.

AB850,18 Section 18. 701.0808 (7) (title) of the statutes, as created by 2013 Wisconsin Act 92, is repealed.

Note: The other subsections in s. 701.0808 do not have titles.

AB850,19 Section 19. 701.1101 of the statutes, as created by 2013 Wisconsin Act 92, is amended to read:

AB850,9,16 701.1101 Short title and scope. This subchapter may be cited as the Wisconsin Uniform Principal and Income Act. Subject to s. 701.1206 701.1205 (2), this subchapter applies to a trust described in s. 701.0102 and an estate that is administered in this state.

Note: Inserts correct cross-reference. Section 701.1205 (2), which relates to applicability, was numbered s. 701.1206 (2) in an earlier draft of the bill that became 2013 Wis. Act. 92.

AB850,20 Section 20. 701.1205 (2) of the statutes, as affected by 2013 Wisconsin Act 92, section 298, is amended to read:

AB850,9,20 701.1205 (2) Subchapter XI of this chapter applies to a trust or decedent's estate existing on July 1, 2014, and to a trust or decedent's estate created or coming into existence after that date, except as otherwise expressly provided in subch. XI or by the decedent's will or the terms of the trust. With respect to a trust or decedent's estate existing on July 1, 2014, ss. 701.1110 to 701.1135 shall apply at the beginning of the trust's or estate's first accounting period, as defined in s. 701.1125 (2) (a) 701.1102 (1), that begins on or after July 1, 2014.

Note: Inserts correct cross-reference. 2013 Wis. Act 92, section 298, replaced "s. 701.20 (2) (a)" with "s. 701.1125 (2) (a)". However, s. 701.20 (2) (a), the definition of "accounting period" was renumbered to s. 701.1102 (1) by Act 92, section 205. There is no definition of "accounting period" in s. 701.1125.

AB850,21 Section 21. 708.15 (10) (g) of the statutes, as created by 2013 Wisconsin Act 66, is amended to read:

AB850,10,9 708.15 (10) (g) Be signed by the satisfaction agent, as provided in par. sub. (9) (am), and contain a form of authentication authorized by s. 706.06 or 706.07.

Note: Inserts correct cross-reference. There is no s. 708.15 (10) (am). Section 708.15 (9) (am) relates to the signing of affidavits by satisfaction agents.

AB850,22 Section 22. 961.01 (20e) of the statutes is renumbered 961.01 (20b).

Note: Places definitions in alphabetical order consistent with current style.

AB850,23 Section 23 . 2013 Wisconsin Act 48, section 1 is amended by replacing "vehicle," with "vehicle,".

Note: An existing comma was underscored.

AB850,24 Section 24 . 2013 Wisconsin Act 48, section 6 is amended by replacing "Caswell in Oneida" with "Caswell, in Oneida".

Note: An existing comma was deleted without being stricken. The removal of the comma was intended.

AB850,25 Section 25 . 2013 Wisconsin Act 75, section 5 is amended by replacing "95.60 (2) (a) (intro.)" with "95.60 (2) (a)" in 2 places.

Note: 2013 Wisconsin Act 75, section 5, amended s. 95.60 (2) (a). Section 95.60 (2) (a) does not contain an introductory clause.

AB850,26 Section 26 . 2013 Wisconsin Act 92, section 267 is amended by replacing "In this paragraph "plan" with "In this paragraph, "plan".

Note: An existing comma was deleted without being stricken. The removal of the comma was intended.

AB850,27 Section 27. Renumbering and cross-reference changes under s. 13.92 (1) (bm) 2., stats. Each statute listed in column A was renumbered to the statute number in column B, and cross-references to the renumbered statute were changed in the statutes listed in column C to agree with the renumbered statute, under section 13.92 (1) (bm) 2. of the statutes:

Note: Confirms renumbering and corresponding cross-reference changes under s. 13.92 (1) (bm) 2. - See PDF for table

AB850,28 Section 28. Corrections of obvious nonsubstantive errors under s. 35.17 (2), stats. In the sections of the statutes listed in Column A, the text shown in Column B was changed to the text shown in column C to correct obvious nonsubstantive errors under s. 35.17 (2) of the statutes:

Note: Confirms correction of obvious nonsubstantive errors under s. 35.17 (2). - See PDF for table

AB850,29 Section 29 . Initial applicability.

AB850,14,5 (1) Estate recovery changes. The treatment of section 49.496 (3) (aj) 2. and (dm) 2. of the statutes first applies to the recovery of public assistance, as defined in section 49.849 (1) (e) of the statutes, provided to individuals who die on October 1, 2013.

Note: Section 49.496 (3) (aj) 2. and (dm) 2. are repealed and recreated by Sections 4 and 5 of this bill. This provision applies the initial applicability date for estate recovery charges contained in 2013 Wis. Act 92, section 351 (1), to the treatments of s. 49.496 (3) (aj) 2. and (dm) 2. by this bill.

AB850,30 Section 30. Effective dates. This act takes effect on the day after publication, except as follows:

AB850,14,9 (1) The treatment of sections 701.0303 (8) (intro.), 701.0808 (7) (title), 701.1101, and 701.1205 (2) of the statutes takes effect on July 1, 2014.

AB850,15,2 (2) The treatment of section 341.10 (6) of the statutes takes effect on March 1, 2014, or on the day after publication, whichever is later.

AB850,15,3 (End)