Amendment ASA-AB150

AB150-ASA, s. 6456 Section 6456. 409.404 (2) of the statutes is amended to read:

AB150-ASA,1982,8 409.404 (2) On presentation to the filing officer of a termination statement the officer must note it in the index. If the officer has received the termination statement in duplicate, the officer shall return one copy of the termination statement to the secured party stamped to show the time of receipt. If the filing officer has a microfilm, other photographic record or optical disk or electronic copy of the financing statement, and of any related continuation statement, statement of assignment and statement of release, the officer may remove the originals from the files at any time after receipt of the termination statement, or if the officer has no such record, the officer may remove them from the files at any time after one year after receipt of the termination statement.

AB150-ASA, s. 6461 Section 6461. 409.407 (2) (c) of the statutes is created to read:

AB150-ASA,1982,14 409.407 (2) (c) For providing any service under par. (a) or (b) in an expeditious manner, the secretary of state may charge and collect an expedited service fee of $25 in addition to any fee required under par. (a) or (b). Only one expedited service fee may be charged for multiple identical certificates if the certificates are requested at the same time and issued at the same time.

AB150-ASA, s. 6463 Section 6463. 409.409 of the statutes is amended to read:

AB150-ASA,1982,20 409.409 Storage of records. Whenever in this chapter a filing officer is required to mark, index or file any financing statement, termination statement, continuation statement, statement of assignment or statement of release, the officer may destroy the original statement after a microfilm or other photographic copy or an optical disk or electronic copy has been prepared and filed for retention.

AB150-ASA, s. 6466 Section 6466. 422.501 (2) (b) 8. of the statutes is amended to read:

AB150-ASA,1982,24 422.501 (2) (b) 8. A person registered as a mortgage banker, loan originator or loan solicitor under s. 440.72 224.72 if the person is acting within the course and scope of that registration.

AB150-ASA, s. 6468 Section 6468. 422.505 (1) (e) of the statutes is amended to read:

AB150-ASA,1983,4 422.505 (1) (e) A conspicuous statement, in not less than 8-point boldface type, as follows: "THIS CREDIT SERVICES ORGANIZATION IS REGISTERED BY THE OFFICE OF THE COMMISSIONER OF BANKING, P.O. BOX 7876, MADISON, WISCONSIN 53707 DIVISION OF BANKING at .... (insert address)."

AB150-ASA, s. 6469 Section 6469. 426.103 of the statutes is amended to read:

AB150-ASA,1983,7 426.103 Administrator. "Administrator" means the commissioner division of banking (s. 220.02).

AB150-ASA, s. 6470 Section 6470. 426.104 (2) (intro.) of the statutes is amended to read:

AB150-ASA,1983,15 426.104 (2) (intro.) The administrator shall report annually on practices in consumer transactions, on the use of consumer credit in the state, on problems attending the collection of debts, on the problems of persons of limited means in consumer transactions, and on the operation of chs. 421 to 427. For the purpose of making the report, the administrator may conduct research and make appropriate studies. The report shall be included in the report of the commissioner division of banking under s. 220.14 and shall include:

AB150-ASA, s. 6470m Section 6470m. 426.104 (4) (ab) of the statutes is created to read:

AB150-ASA,1983,20 426.104 (4) (ab) 1. Upon the request of any person, the administrator shall review any act, practice, procedure or form that has been submitted to the administrator in writing to determine whether the act, practice, procedure or form is consistent with chs. 421 to 427.

AB150-ASA,1983,23 2. The administrator may charge the person making a request under subd. 1. for necessary expenses incurred in conducting the review, except the administrator may not charge any of the following persons:

AB150-ASA,1983,24 a. A person registered under s. 426.201.

AB150-ASA,1984,2 b. A trade organization, if a majority of the members of the trade organization are registered under s. 426.201.

AB150-ASA,1984,4 3. Any charge assessed under subd. 2. shall be paid within 30 days after the date on which the administrator assesses the charge.

AB150-ASA, s. 6471b Section 6471b. Subchapter II (title) of chapter 426 [precedes 426.201] of the statutes is amended to read:

AB150-ASA,1984,7 CHAPTER 426

AB150-ASA,1984,10 SUBCHAPTER II NOTIFICATION registration AND FEES

AB150-ASA, s. 6471d Section 6471d. 426.201 (title) of the statutes is repealed and recreated to read:

AB150-ASA,1984,12 426.201 (title) Registration.

AB150-ASA, s. 6471e Section 6471e. 426.201 (1) (intro.) of the statutes is amended to read:

AB150-ASA,1984,15 426.201 (1) (intro.) This subchapter applies The registration requirements of this section apply to persons who do any of the following in this state:

AB150-ASA, s. 6471g Section 6471g. 426.201 (1) (a) of the statutes is amended to read:

AB150-ASA,1984,21 426.201 (1) (a) Make or solicit consumer credit transactions in which a finance charge at a rate in excess of that permitted under s. 138.05, 1977 stats., is imposed as part of the initial transaction, or modifications thereof, except a person who engages in consumer credit transactions solely through honoring credit cards issued by 3rd parties not related to such person; or.

AB150-ASA, s. 6471h Section 6471h. 426.201 (2) of the statutes is amended to read:

AB150-ASA,1985,2 426.201 (2) Each person subject to this subchapter the registration requirements under sub. (1) shall file notification a registration statement with the administrator within 30 days after commencing business in this state, and thereafter, on or before December 1 February 28 of each year. The notification registration statement shall state include all of the following information:

AB150-ASA,1985,3 (a) Name The name of the person ;.

AB150-ASA,1985,5 (b) Name in The name under which the person transacts business is transacted if different from par. (a);.

AB150-ASA,1985,7 (c) Address of The address of the person's principal office, which may be outside this state;.

AB150-ASA,1985,9 (d) Address The addresses of all of the person's offices or retail stores, if any, in this state;.

AB150-ASA,1985,12 (e) If consumer transactions or other business subject to this chapter are made otherwise than at an office or retail store in this state, a brief description of the manner in which they are made;.

AB150-ASA,1985,14 (f) Address The address of the person's designated agent upon whom service of process may be made in this state; and.

AB150-ASA,1985,16 (g) Such other similar information as the administrator may from time to time require to effectuate the purposes and policies of chs. 421 to 427.

AB150-ASA, s. 6471j Section 6471j. 426.201 (2) (fm) of the statutes is created to read:

AB150-ASA,1985,21 426.201 (2) (fm) The average monthly outstanding balance of all consumer credit transactions held by the person for the reporting period for which the registration statement is filed. In this paragraph, "average monthly outstanding balance" and "reporting period" have the meanings given under s. 426.202 (1m) (a).

AB150-ASA, s. 6471L Section 6471L. 426.201 (3) of the statutes is amended to read:

AB150-ASA,1986,2 426.201 (3) The administrator shall adopt rules governing the filing of changes, additions or modifications of the notification registration statement required by this section, and shall adopt rules pertaining to form, verification and similar matters pertaining to the notification registration.

AB150-ASA, s. 6471n Section 6471n. 426.202 (1) of the statutes is repealed.

AB150-ASA, s. 6471p Section 6471p. 426.202 (1m) of the statutes is created to read:

AB150-ASA,1986,5 426.202 (1m) Amount of registration fee. (a) Definitions. In this subsection:

AB150-ASA,1986,7 1. "Average outstanding monthly balance" means, for any person during any reporting period, the amount calculated as follows:

AB150-ASA,1986,10 a. Determining the outstanding balance of all consumer credit transactions that the person has entered into and that originated in this state, as of the last day of each month during the reporting period.

AB150-ASA,1986,11 b. Adding the outstanding balance for each month in the reporting period.

AB150-ASA,1986,14 c. Dividing the sum determined under subd. 1. b. by the number of months in the reporting period during which the person had outstanding consumer credit transactions.

AB150-ASA,1986,16 2. "Reporting period" means, for any registration statement, the last full calendar year preceding the date on which the registration statement is due.

AB150-ASA,1986,21 (b) Registration fee requirement. Any person required to register under s. 426.201 shall pay a registration fee to the administrator when the person files the registration statement required under s. 426.201, except that a person is not required to pay a registration fee under this section if the person's average outstanding monthly balance for that reporting period does not exceed $250,000.

AB150-ASA,1987,3 (c) Amount of registration fee. The amount of the registration fee shall be determined in accordance with rates set by the administrator, subject to the maximum and minimum fees under pars. (d) and (e). In setting these rates, the administrator shall consider the costs of administering chs. 421 to 427, including the costs of enforcement, education and seeking voluntary compliance with chs. 421 to 427. Subject to pars. (d) and (e), the registration fee for a person shall be based on the person's average monthly outstanding balance during the reporting period.

AB150-ASA,1987,5 (d) Minimum fee. Any person required to pay a registration fee under par. (b) shall pay a registration fee of at least $25 per reporting period.

AB150-ASA,1987,8 (e) Maximum fees. Any person required to pay a registration statement under this section may not be required to pay a registration fee that exceeds any of the following:

AB150-ASA,1987,9 1. Per reporting period, $1,500.

AB150-ASA,1987,11 2. For the reporting period, 0.005% of the average monthly outstanding balance.

AB150-ASA, s. 6471q Section 6471q. 426.202 (2) of the statutes is repealed.

AB150-ASA, s. 6471t Section 6471t. 426.202 (3) of the statutes is repealed.

AB150-ASA, s. 6471v Section 6471v. 426.202 (4) of the statutes is amended to read:

AB150-ASA,1987,18 426.202 (4) (title) Submission of data for calculating the amount of fee. A person required to file notification register under s. 426.201 shall submit such financial and other data as the administrator may require which will support the computation of the amount of the fee.

AB150-ASA, s. 6471x Section 6471x. 426.202 (5) (title) of the statutes is created to read:

AB150-ASA,1987,20 426.202 (5) (title) Recovery of fees.

AB150-ASA, s. 6471y Section 6471y. 426.203 of the statutes is created to read:

AB150-ASA,1988,2 426.203 Penalties. Whoever fails to comply with the registration requirements under s. 426.201 or fails to pay a fee required under s. 426.202 may be required to forfeit not more than $50. Each day that this failure continues constitutes a separate offense. Forfeitures received by the administrator under this section shall be credited to the appropriation account under s. 20.124 (1) (h) and may be expended from the account only for consumer or merchant education programs.

AB150-ASA, s. 6471z Section 6471z. 426.203 of the statutes, as created by 1995 Wisconsin Act .... (this act), is amended to read:

AB150-ASA,1988,11 426.203 Penalties. Whoever fails to comply with the registration requirements under s. 426.201 or fails to pay a fee required under s. 426.202 may be required to forfeit not more than $50. Each day that this failure continues constitutes a separate offense. Forfeitures received by the administrator under this section shall be credited to the appropriation account under s. 20.124 20.144 (1) (h) and may be expended from the account only for consumer or merchant education programs.

AB150-ASA, s. 6472m Section 6472m. 440.05 (intro.) of the statutes is amended to read:

AB150-ASA,1988,15 440.05 Standard fees. (intro.) The following standard fees apply to all initial credentials, except as provided in ss. 440.41 440.42, 440.43, 440.44, 440.51, 442.06, 444.03, 444.05, 444.11, 449.17, 449.18 and 459.46:

AB150-ASA, s. 6473 Section 6473. 440.05 (1) (a) of the statutes is amended to read:

AB150-ASA,1988,19 440.05 (1) (a) Initial credential: $34 $39. Each applicant for an initial credential shall pay the initial credential fee to the department when the application materials for the initial credential are submitted to the department.

AB150-ASA, s. 6474 Section 6474. 440.05 (2) of the statutes is amended to read:

AB150-ASA,1988,25 440.05 (2) Reciprocal credential: $50 , including any credential described in s. 440.01 (2) (d) and any credential that permits temporary practice in this state in whole or in part because the person holds a credential in another jurisdiction: The applicable credential renewal fee under s. 440.08 (2) (a) and, if an examination is required, an examination fee under sub. (1).

AB150-ASA, s. 6475 Section 6475. 440.05 (6) of the statutes is amended to read:

AB150-ASA,1989,4 440.05 (6) Apprentice, journeyman, student or other temporary credential or limited permit, granted pending completion of education, apprenticeship or examination requirements: $10.

AB150-ASA, s. 6476 Section 6476. 440.05 (7) of the statutes is amended to read:

AB150-ASA,1989,7 440.05 (7) Replacement of lost credential, name or address change on credential, issuance of duplicate credential or transfer of credential: $5 $10.

AB150-ASA, s. 6477 Section 6477. 440.055 of the statutes is created to read:

AB150-ASA,1989,11 440.055 Credit card payments. (1) The department may accept payment by credit card of a fee that is required to be paid to the department under chs. 440 to 480.

AB150-ASA,1989,17 (2) If the department permits the payment of a fee with use of a credit card under sub. (1), the department shall charge a credit card service charge for each transaction. The credit card service charge shall be in addition to the fee that is being paid with the credit card and shall be sufficient to pay the costs to the department for providing this service to persons who request it, including the cost of any services for which the department contracts under sub. (3).

AB150-ASA,1989,19 (3) The department may contract for services relating to the payment of fees by credit card under this section.

AB150-ASA, s. 6478 Section 6478. 440.08 (2) (a) (intro.) of the statutes is amended to read:

AB150-ASA,1989,23 440.08 (2) (a) (intro.) Except as provided in par. (b) and in ss. 440.42, 440.43, 440.44, 440.51, 442.04, 442.06, 444.03, 444.05, 444.11, 448.065, 449.17, 449.18 and 459.46, the renewal dates and renewal fees for credentials are as follows:

AB150-ASA, s. 6479 Section 6479. 440.08 (2) (a) (intro.) of the statutes, as affected by 1995 Wisconsin Act .... (this act), is repealed and recreated to read:

AB150-ASA,1990,3 440.08 (2) (a) (intro.) Except as provided in par. (b) and in ss. 440.51, 442.04, 442.06, 444.03, 444.05, 444.11, 448.065, 449.17, 449.18 and 459.46, the renewal dates and renewal fees for credentials are as follows:

AB150-ASA, s. 6480 Section 6480. 440.08 (2) (a) 1. of the statutes is amended to read:

AB150-ASA,1990,6 440.08 (2) (a) 1. Accountant, certified public: January 1 of each even-numbered year; $44 $47.

AB150-ASA, s. 6481 Section 6481. 440.08 (2) (a) 2. of the statutes is amended to read:

AB150-ASA,1990,9 440.08 (2) (a) 2. Accountant, public: January 1 of each even-numbered year; $36 $41.