DFI-Bkg 76.09(2)(a)13. 13. Description and year model of motor vehicle, including whether the vehicle was new or used at the time of sale.
DFI-Bkg 76.09(2)(a)14. 14. Date and amount of each payment.
DFI-Bkg 76.09(2)(a)15. 15. Amount of any delinquency charges collected.
DFI-Bkg 76.09(2)(a)16. 16. Amount of any deferral charges collected.
DFI-Bkg 76.09(2)(a)17. 17. Name of each credit and property insurer.
DFI-Bkg 76.09(2)(a)18. 18. Each insurance certificate or policy number.
DFI-Bkg 76.09(2)(b) (b) Paid accounts. In addition to the information required above the written record shall include:
DFI-Bkg 76.09(2)(b)1. 1. Date account is paid in full.
DFI-Bkg 76.09(2)(b)2. 2. Whether the account balance or any payments were paid from credit insurance proceeds, the amount of such proceeds and, if paid from the proceeds of credit life insurance, the date of the customer's death.
DFI-Bkg 76.09(2)(b)3. 3. The amount of the refund of unearned charges separately itemized.
DFI-Bkg 76.09(2)(b)4. 4. The amount, date and check number of any overpayment or rebate for prepayment.
DFI-Bkg 76.09(3) (3) In transactions where the finance charge is to be calculated on the declining unpaid balance from time to time outstanding, payments shall be posted as of the date upon which payments are received at any office to which the buyer is directed to make the payment regardless of the date on which posting actually occurs unless the document evidencing the customer's obligation to pay provides that payment received after a particular hour shall be posted as of the following business day.
DFI-Bkg 76.09(4) (4) The information required by this regulation shall be retained for a period of not less than 2 years after consummation of the transaction or one year after the last payment, whichever is later, and shall be assessable by reference to the name of the customer.
DFI-Bkg 76.09 History History: Cr. Register, March, 1980, No. 291, eff. 6-1-80; 2013 Wis. Act 136: am. (2) (intro.), (b) (intro.) Register March 2014 No. 699, eff. 4-1-14.
DFI-Bkg 76.10 DFI-Bkg 76.10Violation of rules, penalty. Failure to comply with the foregoing rules and regulations shall constitute an unfair trade practice and proof of unfitness which shall be grounds for license revocation.
DFI-Bkg 76.10 History History: Cr. Register, March, 1980, No. 291, eff. 6-1-80.
DFI-Bkg 76.11 DFI-Bkg 76.11Definitions. Words and phrases used in this chapter have the same meaning as found in ch. 218, Stats., unless additional interpretations are specified. In this chapter:
DFI-Bkg 76.11(1) (1) “Business license" means a license issued by the division of banking under ch. 218, Stats., to a motor vehicle dealer.
DFI-Bkg 76.11(3) (3) “Initial license" means a license issued to a person or business who does not have such a license at the time of application.
DFI-Bkg 76.11(4) (4) “Renewal license" means a license issued to a person or business who has such a license at the time of application.
DFI-Bkg 76.11 Note Note: 1995 Wis. Act 27 replaced the commissioner of banking with the division of banking in the department of financial institutions.
DFI-Bkg 76.11 History History: Cr. Register, March, 1980, No. 291, eff. 6-1-80; emerg. r. and recr. eff. 1-1-91; r and recr. Register, June, 1991, No. 426, eff. 7-1-91; 2013 Wis. Act 136: am. (1), r. (2) Register March 2014 No. 699, eff. 4-1-14.
DFI-Bkg 76.12 DFI-Bkg 76.12License periods and expiration dates.
DFI-Bkg 76.12(1)(1)Business licenses.
DFI-Bkg 76.12(1)(a)(a) General licensing period and expiration dates. The license period for business licenses is 2 years. The division of banking shall issue business licenses that start and expire on the following dates: - See PDF for table PDF
DFI-Bkg 76.12(1)(b) (b) Initial licenses. The division of banking may issue initial licenses that go into effect on dates other than the first day of an even-numbered month. The licenses may expire before the end of 2 years, and their expiration dates may be assigned as follows: - See PDF for table PDF
Example: A motor vehicle dealer whose license is first issued on October 8, 1992 would receive a license valid through September 30, 1994.
DFI-Bkg 76.12(2) (2)Licenses run concurrently. A motor vehicle license to operate as a sales finance company will be issued to run concurrently with the department of transportation dealer licenses.
DFI-Bkg 76.12 History History: Emerg. cr. eff. 1-1-91; cr. Register, June, 1991, No. 426, eff. 7-1-91; 2013 Wis. Act 136: am. (1) (a) (intro.), (b) (intro.), (2) Register March 2014 No. 699, eff. 4-1-14.
DFI-Bkg 76.13 DFI-Bkg 76.13License fees.
DFI-Bkg 76.13(1) (1) The division of banking shall collect fees based on the statutory formulas described in s. 218.0114 (15), Stats., and elsewhere, which is the number of years in a licensing period multiplied by the current annual fee of $50. If the dealer originates and carries or retains time sales contracts for more than 30 days in a total amount exceeding $100,000, a bill will be issued for additional business license fees due based upon the schedule of fees in s. 218.0114 (16), Stats.
DFI-Bkg 76.13(2) (2) When the division of banking issues an initial license for a period less than 2 years, it may reduce the business license fees by the same proportion as the reduction in the business license period.
DFI-Bkg 76.13 History History: Emerg. cr. eff. 1-1-91; cr. Register, June, 1991, No. 426, eff. 7-1-91; corrections in (1) made under s. 13.93 (2m) (b) 7., Stats., Register June 2004 No. 582; 2013 Wis. Act 136: am. Register March 2014 No. 699, eff. 4-1-14.
Loading...
Loading...
Published under s. 35.93, Stats. Updated on the first day of each month. Entire code is always current. The Register date on each page is the date the chapter was last published.