AB163,127,1613
460.05
(1) (e) 1. Graduated from a school of massage therapy or bodywork
14therapy
approved by the educational approval board under s. 38.50 that meets the
15requirements under s. 460.095 or completed a training program approved by the
16affiliated credentialing board under the rules promulgated under s. 460.04 (2) (b).
AB163,500
17Section
500. 462.01 (3) of the statutes is repealed.
AB163,501
18Section
501. Chapter 463 (title) of the statutes is created to read:
AB163,127,2019
chapter 463
20
body art and tanning facilities
AB163,502
21Section
502. 463.18 of the statutes is created to read:
AB163,128,2
22463.18 Violation of law relating to body art. Any person who willfully
23violates or obstructs the execution of any state statute or rule, county, city, or village
24ordinance or departmental order under this chapter and relating to the public
1health, for which no other penalty is prescribed, shall be fined not more than $500
2or imprisoned for not more than 30 days or both.
AB163,503
3Section
503. 551.102 (1m) of the statutes is amended to read:
AB163,128,74
551.102
(1m) "Administrator" means the
administrator of the division of
5securities in the department secretary of financial institutions
and professional
6standards or an employee of the department of financial institutions and
7professional standards designated by the secretary.
AB163,504
8Section
504. 551.102 (4t) of the statutes is created to read:
AB163,128,109
551.102
(4t) "Department" means the department of financial institutions and
10professional standards.
AB163,505
11Section
505. 551.102 (5m) of the statutes is repealed.
AB163,506
12Section
506. 551.202 (26) (f) (intro.) of the statutes is amended to read:
AB163,128,1813
551.202
(26) (f) (intro.) Not less than 10 days prior to the commencement of an
14offering of securities in reliance on the exemption under this subsection, the issuer
15files a notice with the administrator, in writing or in electronic form as prescribed by
16the administrator, which the administrator shall make available as an electronic
17document on the
department of financial institutions
department's Internet site,
18containing all of the following:
AB163,507
19Section
507. 551.202 (27) (h) (intro.) of the statutes is amended to read:
AB163,129,220
551.202
(27) (h) (intro.) Before the 101st offer of the security, the issuer
21provides a notice to the administrator in writing or in electronic form, accompanied
22by the filing fee specified in s. 551.614 (1m). The administrator shall prescribe the
23form required for the notice and make the form available as an electronic document
24on the
department of financial institutions department's Internet site.
1Notwithstanding s. 551.204 (1) and (3), the notice shall be limited to all of the
2following:
AB163,508
3Section
508. 551.205 (1) (b) 1. (intro.) of the statutes is amended to read:
AB163,129,84
551.205
(1) (b) 1. (intro.) The Internet site operator shall register with the
5division department by filing a statement, which the administrator shall make
6available as an electronic document on the
department of financial institutions 7department's Internet site, accompanied by the filing fee specified in s. 551.614 (1m),
8that includes all of the following:
AB163,509
9Section
509. 551.205 (3) of the statutes is amended to read:
AB163,129,2110
551.205
(3) If the Securities and Exchange Commission adopts rules under
11authority of section 3 (h) of the Securities Exchange Act of 1934 (
15 USC 78c (h)) and
12P.L.
112-106, section 304, that authorize funding portals to receive commissions
13without registering as broker-dealers under the Securities Exchange Act of 1934,
14the
division department shall promulgate rules authorizing Internet site operators
15registered with the
division department under sub. (1) (b) that are not registered as
16broker-dealers under s. 551.401 to receive commissions. The
division department 17shall ensure that its rules authorizing commissions for Internet site operators are
18consistent with rules adopted by the Securities and Exchange Commission. The
19division's department's rules shall also ensure that Internet site operators that do
20not satisfy rules adopted by the Securities and Exchange Commission have the
21opportunity to operate in compliance with the requirements of this section.
AB163,510
22Section
510. 551.206 of the statutes is amended to read:
AB163,130,5
23551.206 Adjustments. At 5-year intervals after January 1, 2014, the
24department
of financial institutions shall adjust the monetary amounts specified in
25s. 551.202 (26) (c) 1. a. and b. and (27) (c) 1. a. and b. to reflect changes since January
11, 2014, in the consumer price index for all urban consumers, Milwaukee-Racine
2area average, as determined by the U.S. department of labor. Each adjustment shall
3be rounded to the nearest multiple of $50,000. Each adjustment under this section
4shall be published on the
department of financial institutions department's Internet
5site.
AB163,511
6Section
511. 551.601 (5) of the statutes is amended to read:
AB163,130,117
551.601
(5) Securities investor education and training funding. All moneys
8collected from the administrative assessment under s. 551.604 (4) shall be credited
9to the appropriation under s.
20.144 (1) 20.142 (2) (i). Subject to s.
20.144 (1) 20.142
10(2) (i), the
division department shall use moneys credited to that appropriation for
11the purposes specified in sub. (4) and s.
20.144 (1)
20.142 (2) (i).
AB163,512
12Section
512. 551.605 (3) (bm) 1. of the statutes is amended to read:
AB163,130,1813
551.605
(3) (bm) 1. Except as provided in subd. 2., a financial institution
14holding company whose securities have been registered under this chapter shall not
15be required to prepare or distribute to shareholders or provide to the department
of
16financial institutions, at any time after such registration, any financial statements,
17financial information, annual reports, or other periodic reports except to the extent
18required under ss. 180.1620 and 180.1622.
AB163,513
19Section
513. 551.614 (5) of the statutes is amended to read:
AB163,130,2220
551.614
(5) Fees paid to state. All fees and expenses collected by the
division 21department under this section shall be deposited into the general fund and credited
22to the appropriation account under s.
20.144 (1)
20.142 (2) (g).
AB163,514
23Section
514. 552.01 (1) of the statutes is repealed.
AB163,515
24Section
515. 552.01 (1m) of the statutes is created to read:
AB163,131,2
1552.01
(1m) "Department" means the department of financial institutions and
2professional standards.
AB163,516
3Section
516. 552.23 (1) of the statutes is amended to read:
AB163,131,144
552.23
(1) If the target company is an insurance company subject to regulation
5by the commissioner of insurance
, a banking corporation, savings bank, or savings
6and loan association subject to regulation by the division of banking, or a company
7subject to regulation by the public service commission, the department of
8transportation, or the office of the commissioner of railroads, the
division of
9securities department shall promptly furnish a copy of the registration statement
10filed under this chapter to the regulatory agency having supervision of the target
11company. Any hearing under this chapter involving any such target company shall
12be held jointly with the regulatory agency having supervision, and any
13determination following the hearing shall be made jointly with that regulatory
14agency.
AB163,517
15Section
517. 553.03 (2m) of the statutes is created to read:
AB163,131,1716
553.03
(2m) "Department" means the department of financial institutions and
17professional standards.
AB163,518
18Section
518. 553.03 (3) of the statutes is repealed.
AB163,519
19Section
519. 553.605 (2) of the statutes is amended to read:
AB163,132,320
553.605
(2) Investor education. All moneys collected from the administrative
21assessment under sub. (1) shall be credited to the appropriation under s.
20.144 (1) 2220.142 (2) (i). Subject to s.
20.144 (1) 20.142 (2) (i), the
division
department shall use
23moneys credited to that appropriation to provide information to residents of this
24state about franchise investments to help investors and potential investors evaluate
25their investment decisions, protect themselves from false, fraudulent or deceptive
1practices in connection with the offer, sale or purchase of a franchise, be alert for false
2or misleading advertising or other harmful practices, and know their rights as
3investors.
AB163,520
4Section
520. 553.73 of the statutes is amended to read:
AB163,132,23
5553.73 Service of process. When any person, including any nonresident of
6this state, engages in conduct prohibited or made actionable by this chapter or any
7rule or order under this chapter, whether or not the person has filed a consent to
8service of process under s. 553.27 (10), and personal jurisdiction over the person
9cannot otherwise be obtained in this state, that conduct shall be considered
10equivalent to the person's appointment of the
division
department to be the person's
11attorney to receive service of any lawful process in any noncriminal suit, action, or
12proceeding against the person or the person's successor or personal representative
13that grows out of that conduct and that is brought under this law or any rule or order
14under this chapter, with the same force and validity as if served on the person
15personally. Service may be made by leaving a copy of the process at the office of the
16division secretary of the department, but it is not effective unless the plaintiff, who
17may be the
division department in a suit, action, or proceeding instituted by the
18division department, immediately sends notice of the service and a copy of the
19process by registered or certified mail to the defendant or respondent at his or her
20last-known address or takes other steps that are reasonably calculated to give actual
21notice, and the plaintiff's affidavit of compliance with this section is filed in the case
22on or before the return day of the process, if any, or within any further time that the
23court allows.
AB163,521
24Section
521. 565.01 (4d) of the statutes is amended to read:
AB163,133,2
1565.01
(4d) "Minority business" means a business certified
by the department
2of administration under s.
16.287 203.07 (2).
AB163,522
3Section
522. 565.01 (4e) of the statutes is amended to read:
AB163,133,54
565.01
(4e) "Minority group member" has the meaning given in s.
16.287 5203.07 (1) (f).
AB163,523
6Section
523. 601.415 (9) of the statutes is amended to read:
AB163,133,127
601.415
(9) Consumer credit law. The commissioner shall cooperate with the
8division of banking department of financial institutions and professional standards 9in the administration of ch. 424, shall determine the method for computation of
10refunds under s. 424.205, shall approve forms, schedules of premium rates
, and
11charges under s. 424.209
, and shall issue rules or orders of compliance to insurers
12under s. 424.602.
AB163,524
13Section
524. 601.72 (1) (intro.) of the statutes is amended to read:
AB163,133,2014
601.72
(1) General. (intro.) Under procedures specified in s. 601.73, the
15commissioner is by law constituted attorney, except in cases in which the proceeding
16is to be brought by the state against an insurer or intermediary other than a risk
17retention group or risk purchasing group, in which event the department of financial
18institutions
and professional standards is by law constituted attorney, to receive
19service of summons, notices, orders, pleadings and all other legal process relating to
20any court or administrative agency in this state for all of the following:
AB163,525
21Section
525. 601.72 (2) of the statutes is amended to read:
AB163,134,222
601.72
(2) Appointment of attorney. Except as provided in sub. (2m), every
23licensed insurer by applying for and receiving a certificate of authority, every surplus
24lines insurer by entering into a contract subject to the surplus lines law, and every
25unauthorized insurer by doing an insurance business in this state, is deemed to have
1irrevocably appointed the commissioner and department of financial institutions
2and professional standards as the insurer's attorneys in accordance with sub. (1).
AB163,526
3Section
526. 601.72 (3) of the statutes is amended to read:
AB163,134,74
601.72
(3) Others affected. The commissioner and department of financial
5institutions
and professional standards shall also be attorneys for the personal
6representatives, receivers, trustees, or other successors in interest of the persons
7specified in sub. (1).
AB163,527
8Section
527. 601.73 (1) (intro.) of the statutes is amended to read:
AB163,134,119
601.73
(1) Requirements for effective service. (intro.) Service upon the
10commissioner or department of financial institutions
and professional standards 11under s. 601.72 is service on the principal, if:
AB163,528
12Section
528. 601.73 (1) (a) of the statutes is amended to read:
AB163,134,1513
601.73
(1) (a) Two copies of the process are left in the hands or office of the
14commissioner or department of financial institutions
and professional standards 15respectively; and
AB163,529
16Section
529. 601.73 (1) (b) of the statutes is amended to read:
AB163,134,1917
601.73
(1) (b) The commissioner or department of financial institutions
and
18professional standards mails a copy of the process to the person served according to
19sub. (2) (b).
AB163,530
20Section
530. 601.73 (2) (a) of the statutes is amended to read:
AB163,134,2321
601.73
(2) (a)
Records. The commissioner and department of financial
22institutions
and professional standards shall give receipts for and keep records of all
23process served through them.
AB163,531
24Section
531. 601.73 (2) (b) of the statutes is amended to read:
AB163,135,5
1601.73
(2) (b)
Process mailed. The commissioner or department of financial
2institutions
and professional standards shall send immediately by certified mail to
3the person served, at the person's last-known principal place of business, residence
4or post-office address or at an address designated in writing by the person, one copy
5of any process received and shall retain the other copy.
AB163,532
6Section
532. 601.73 (3) of the statutes is amended to read:
AB163,135,117
601.73
(3) Proof of service. A certificate by the commissioner or the
8department of financial institutions
and professional standards, showing service
9made upon the commissioner or department of financial institutions
and
10professional standards, and attached to a copy of the process presented for that
11purpose is sufficient evidence of the service.
AB163,533
12Section
533. 601.93 (2) of the statutes is amended to read:
AB163,135,2413
601.93
(2) Every insurer doing a fire insurance business in this state shall,
14before March 1 in each year, file with the commissioner a statement, showing the
15amount of premiums upon fire insurance due for the preceding calendar year.
16Return premiums may be deducted in determining the premium on which the fire
17department dues are computed. Payments of quarterly installments of the total
18estimated payment for the then current calendar year under this subsection are due
19on or before April 15, June 15, September 15 and December 15. On March 1 the
20insurer shall pay any additional amounts due for the preceding calendar year.
21Overpayments will be credited on the amount due April 15. The commissioner shall,
22prior to May 1 each year, report to the department of
safety and professional services 23financial institutions and professional standards the amount of dues paid under this
24subsection and to be paid under s. 101.573 (1).
AB163,534
25Section
534. 610.70 (1) (a) of the statutes is amended to read:
AB163,136,4
1610.70
(1) (a) "Health care provider" means any person licensed, registered,
2permitted or certified by the department of health services or the department of
3safety and professional services financial institutions and professional standards to
4provide health care services, items or supplies in this state.
AB163,535
5Section
535. 611.29 (1) of the statutes is amended to read:
AB163,136,136
611.29
(1) Right to amend articles. A stock corporation may amend its articles
7under ss. 180.0726, 180.1001 to 180.1007, 180.1706, 180.1707 and 180.1708 (4) and
8a mutual may amend its articles under ss. 181.1001, 181.1002 (1), 181.1003,
9181.1005 and 181.1006, except that papers required by those sections to be filed with
10the department of financial institutions
and professional standards shall instead be
11filed with the commissioner. Subject to sub. (3), the stock corporation or mutual may
12amend its articles in any desired respect including substantial changes of its original
13purposes. No amendment may be made contrary to s. 611.12 (1) to (3).
AB163,536
14Section
536. 611.72 (1) of the statutes is amended to read:
AB163,136,1915
611.72
(1) General. Subject to this section, ss. 180.1101, 180.1103 to 180.1106,
16180.1706, 180.1707, and 180.1708 (5) apply to the merger of a domestic stock
17insurance corporation or its parent insurance holding corporation, except that
18papers required by those sections to be filed with the department of financial
19institutions
and professional standards shall instead be filed with the commissioner.
AB163,537
20Section
537. 611.73 (1) (a) of the statutes is amended to read:
AB163,136,2421
611.73
(1) (a)
In general. Any 2 or more domestic mutuals may merge under
22the procedures of this section and ss. 181.1105 and 181.1106, except that papers
23required by those sections to be filed with the department of financial institutions
24and professional standards shall instead be filed with the commissioner.
AB163,538
25Section
538. 611.74 (1) of the statutes is amended to read:
AB163,137,15
1611.74
(1) Plan of dissolution. At least 60 days prior to the submission to
2shareholders or policyholders of any proposed voluntary dissolution of an insurance
3corporation under s. 180.1402 or 181.1401 the plan shall be filed with the
4commissioner. The commissioner may require the submission of additional
5information to establish the financial condition of the corporation or other facts
6relevant to the proposed dissolution. If the shareholders or policyholders adopt the
7resolution to dissolve, the commissioner shall, within 30 days after the adoption of
8the resolution, begin to examine the corporation. The commissioner shall approve
9the dissolution unless, after a hearing, the commissioner finds that it is insolvent or
10may become insolvent in the process of dissolution. Subject to chs. 600 to 645, upon
11approval, the corporation may dissolve under ss. 180.1402 to 180.1408 and 180.1706,
12or ss. 181.1401 to 181.1407, except that papers required by those sections to be filed
13with the department of financial institutions
and professional standards shall
14instead be filed with the commissioner. Upon disapproval, the commissioner shall
15petition the court for liquidation or for rehabilitation under ch. 645.
AB163,539
16Section
539. 611.76 (11) of the statutes is amended to read:
AB163,137,2017
611.76
(11) Security regulation. The filing with the
division of securities 18department of financial institutions and professional standards of a certified copy of
19the plan of conversion as approved by the commissioner constitutes registration
20under s. 551.305 of the securities authorized to be issued thereunder.
AB163,540
21Section
540. 613.01 (8) (title) of the statutes is amended to read:
AB163,137,2322
613.01
(8) (title)
Department of financial institutions and professional
23standards.
AB163,541
24Section
541. 616.09 (1) (c) 2. of the statutes is amended to read:
AB163,138,5
1616.09
(1) (c) 2. In all actions commenced after May 11, 1980,
but before the
2effective date of this subdivision .... [LRB inserts date], in those provisions of ch. 185
3which apply under subd. 1. to plans authorized under s. 616.06, "department" shall
4be deemed to read "department of financial institutions and commissioner", except
5in s. 185.48, where "department" shall be deemed to read "commissioner".
AB163,542
6Section
542. 616.09 (1) (c) 3. of the statutes is created to read:
AB163,138,117
616.09
(1) (c) 3. In all actions commenced on or after the effective date of this
8subdivision .... [LRB inserts date], in those provisions of ch. 185 that apply under
9subd. 1. to plans authorized under s. 616.06, "department" shall be deemed to read
10"department of financial institutions and professional standards and commissioner,"
11except in s. 185.48, where "department" shall be deemed to read "commissioner."
AB163,543
12Section
543. 616.74 (1) (c) of the statutes is amended to read:
AB163,138,1813
616.74
(1) (c) A certificate from the department of financial institutions
and
14professional standards, if it is a nonprofit corporation, that it has complied with the
15corporation laws of this state; if it is a corporation the stock of which has been or is
16being sold to the general public, a certificate from the
division of securities 17department of financial institutions and professional standards that it has complied
18with the requirements of the securities law of this state.
AB163,544
19Section
544. 632.10 (1) of the statutes is amended to read:
AB163,138,2420
632.10
(1) "Building and safety standards" means the requirements of chs. 101
21and 145 and of any rule promulgated by the department
of safety and professional
22services of financial institutions and professional standards under ch. 101 or 145,
23and standards of a 1st class city relating to the health and safety of occupants of
24buildings.
AB163,545
25Section
545. 644.09 (2) of the statutes is amended to read:
AB163,139,17
1644.09
(2) Amendment of articles. A mutual holding company may amend its
2articles in the manner provided in ss. 181.1001, 181.1002 (1), 181.1003, 181.1005 and
3181.1006, except that papers required by those sections to be filed with the
4department of financial institutions
and professional standards shall instead be filed
5with the commissioner. The articles may be amended in any desired respect,
6including substantial changes of its original purposes, except that no amendment
7may be made that is contrary to sub. (1). In addition to the requirements of s.
8181.1005, the articles of amendment of a mutual holding company shall, if mail
9voting is used, state the number of members voting by mail and the number of such
10members voting for and against the amendment. No amendment may become
11effective until the articles of amendment have been filed with the commissioner. No
12amendment shall affect any existing cause of action in favor of or against such
13mutual holding company, any civil, criminal, administrative or investigatory
14proceeding to which the mutual holding company is a party or the existing rights of
15persons other than members. In the event that the corporate name is changed by
16amendment, no suit brought by or against such mutual holding company under its
17former name shall abate for that reason.