Amendment ASA-AB150

AB150-ASA,2078,7 553.55 (2) For the purpose of any investigation or proceeding under this chapter, the commissioner division or any officer designated by the commissioner division may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence and require the production of any books, papers, correspondence, memoranda, agreements or other documents or records which the commissioner division deems relevant or material to the inquiry. Failure to obey a subpoena or give evidence may be dealt with under s. 885.12.

AB150-ASA, s. 6853 Section 6853. 553.55 (3) (a) of the statutes is amended to read:

AB150-ASA,2078,18 553.55 (3) (a) No person is excused from attending and testifying or from producing any document or record before the commissioner division, or in obedience to the subpoena of the commissioner division or any officer designated by the commissioner division, or in any proceeding instituted by the commissioner division, on the ground that the testimony or evidence required of the person may tend to incriminate the person or subject the person to a penalty or forfeiture. No individual may be prosecuted or subjected to any penalty or forfeiture for or on account of his or her testimony or evidence, after claiming his or her privilege against self-incrimination, except that the individual testifying is not exempt from prosecution and punishment for perjury or contempt committed in testifying.

AB150-ASA, s. 6854 Section 6854. 553.56 (1) of the statutes is amended to read:

AB150-ASA,2078,23 553.56 (1) Except as provided by sub. (2), no order may be entered by the commissioner division under s. 553.24, 553.28 or 553.53 (2) without appropriate prior notice to all interested parties, opportunity for hearing and written findings of fact and conclusions of law.

AB150-ASA, s. 6855 Section 6855. 553.56 (2) of the statutes is amended to read:

AB150-ASA,2079,8 553.56 (2) Within 30 days after the commissioner division has issued an order summarily, an interested party may apply to the commissioner division for a hearing in respect to any matters determined by the order. Within 10 days after an interested party files a written request with the commissioner division for a hearing the matter shall be noticed for a hearing, and a hearing shall be held within 60 days after notice unless extended by the commissioner division for good cause. During the pendency of any hearing requested under this subsection, the order issued summarily shall remain in effect unless vacated or modified by the commissioner division.

AB150-ASA, s. 6856 Section 6856. 553.56 (3) of the statutes is amended to read:

AB150-ASA,2079,15 553.56 (3) After a hearing, the commissioner division may issue a final order as appropriate. The final order may affirm, vacate or modify an order issued summarily in effect during the pendency of the hearing as appropriate, or may include such other sanctions as are provided for under s. 553.24 or 553.28. An order issued summarily against a party becomes a final order if the party fails to request a hearing under sub. (2) or if the party defaults after requesting a hearing.

AB150-ASA, s. 6857 Section 6857. 553.56 (5) of the statutes is amended to read:

AB150-ASA,2079,20 553.56 (5) Orders and other official acts of the commissioner division are subject to judicial review under ch. 227 but orders originally entered without a hearing under s. 553.24, 553.28 or 553.60 may be reviewed only if the party seeking review has requested a hearing within the time provided by sub. (2).

AB150-ASA, s. 6858 Section 6858. 553.57 of the statutes is amended to read:

AB150-ASA,2080,2 553.57 Enforcement of criminal penalties. The commissioner division may refer such evidence as is available concerning any violation of this chapter or of any rule or order hereunder to the district attorney of the county in which the violation occurred, or to the attorney general, who may, with or without any reference, institute the appropriate criminal proceedings under this chapter.

AB150-ASA, s. 6859 Section 6859. 553.58 (1) of the statutes is amended to read:

AB150-ASA,2080,16 553.58 (1) The commissioner division may make, amend and rescind any rules, forms and orders that are necessary to carry out this chapter, including rules and forms governing registration statements, applications and reports, defining any terms, whether or not used in this chapter, insofar as the definitions are not inconsistent with this chapter. The commissioner division may define by rule false, fraudulent or deceptive practices in the offer and sale of franchises. The commissioner division may also adopt rules with regard to advertising utilized in connection with exempt sales under s. 553.22, 553.23 or 553.235 and which need not be filed under s. 553.53. For the purpose of rules and forms, the commissioner division may classify franchises, persons and matters within the commissioner's division's jurisdiction, and prescribe different requirements for different classes. Rules shall be made and published and all administrative procedures, including hearings under s. 553.56 and issuance of orders, shall be in accordance with ch. 227.

AB150-ASA, s. 6860 Section 6860. 553.58 (2) of the statutes is amended to read:

AB150-ASA,2080,21 553.58 (2) No rule, form or order may be made, amended or rescinded unless the commissioner division finds that the action is necessary or appropriate in the public interest or for the protection of investors. In adopting rules and forms the commissioner division may cooperate with official administrators of other states.

AB150-ASA, s. 6861 Section 6861. 553.58 (3) of the statutes is amended to read:

AB150-ASA,2081,3 553.58 (3) The commissioner division may by rule or order prescribe the form and content of financial statements required under this chapter, the circumstances under which consolidated financial statements shall be filed, and whether any required financial statements shall be certified by independent or certified public accountants. All financial statements shall be prepared in accordance with generally accepted accounting practices unless otherwise permitted by rule or order.

AB150-ASA, s. 6862 Section 6862. 553.58 (4) of the statutes is amended to read:

AB150-ASA,2081,8 553.58 (4) No provision of this chapter imposing any liability applies to any act done or omitted in good faith in conformity with any rule, form or order of the commissioner division, notwithstanding that the rule, form or order may later be amended or rescinded or be determined to be invalid for any reason.

AB150-ASA, s. 6863 Section 6863. 553.58 (5) of the statutes is amended to read:

AB150-ASA,2081,15 553.58 (5) All orders shall take effect when made and filed or at such later time as the commissioner division prescribes, and the commissioner division shall, upon making and filing such order, forthwith deliver personally or by mail a copy thereof to every person to whom such order relates at the person's last-known address as it appears on the records of the office of the commissioner division and that delivery shall constitute notice thereof.

AB150-ASA, s. 6864 Section 6864. 553.60 of the statutes is amended to read:

AB150-ASA,2081,21 553.60 (title) Miscellaneous powers of the commissioner. The commissioner division may by order summarily prohibit offers or sales of a franchise subject to s. 553.21 (1) which are being or have been made in this state, unless the offer or sale of the franchise is registered or exempted from registration under this chapter.

AB150-ASA, s. 6865 Section 6865. 553.605 (1) (a) (intro.) of the statutes is amended to read:

AB150-ASA,2082,2 553.605 (1) (a) (intro.) The commissioner division or any officer designated by the commissioner division may impose an administrative assessment in the amount provided in par. (b) on any person who is subject to an order that is issued under s. 553.24, 553.28, 553.53, 553.58 (1) and (2) or 553.60 in any of the following circumstances:

AB150-ASA, s. 6866 Section 6866. 553.605 (1) (a) 1. of the statutes is amended to read:

AB150-ASA,2082,6 553.605 (1) (a) 1. Following a hearing under s. 553.56 if the notice delivered to all interested parties includes notice of the commissioner's division's authority to impose an administrative assessment under this subsection.

AB150-ASA, s. 6867 Section 6867. 553.605 (1) (c) of the statutes is amended to read:

AB150-ASA,2082,10 553.605 (1) (c) The commissioner division shall include any administrative assessment imposed under this subsection in the order issued under any of the sections referred to in par. (a) in the manner described in par. (a) 1. or 2.

AB150-ASA, s. 6868 Section 6868. 553.605 (1) (d) of the statutes is amended to read:

AB150-ASA,2082,15 553.605 (1) (d) Upon the request of the commissioner division, the department of justice may bring a civil action in the circuit court for Dane county to compel payment of any unpaid administrative assessment, unless payment of the administrative assessment is stayed under s. 227.54.

AB150-ASA, s. 6869 Section 6869. 553.605 (2) of the statutes is amended to read:

AB150-ASA,2082,25 553.605 (2) Investor education. All moneys collected from the administrative assessment under sub. (1) shall be credited to the appropriation under s. 20.185 (1) (h) 20.144 (1) (i). Subject to s. 20.185 (1) (h) 20.144 (1) (i), the commissioner division shall use moneys credited to that appropriation to provide information to residents of this state about franchise investments to help investors and potential investors evaluate their investment decisions, protect themselves from false, fraudulent or deceptive practices in connection with the offer, sale or purchase of a franchise, be alert for false or misleading advertising or other harmful practices, and know their rights as investors.

AB150-ASA, s. 6870 Section 6870. 553.71 (1) of the statutes is amended to read:

AB150-ASA,2083,4 553.71 (1) This chapter shall be administered by the commissioner of securities division and by the department of justice when exercising its authority under s. 553.54.

AB150-ASA, s. 6871 Section 6871. 553.71 (2) of the statutes is amended to read:

AB150-ASA,2083,16 553.71 (2) It is unlawful for the commissioner division or any of the commissioner's division's officers or employes to use for personal benefit any information which is filed with or obtained by the commissioner division and which is not generally available to the public. Nothing in this chapter authorizes the commissioner division or any of the commissioner's division's officers or employes to disclose any confidential information except among themselves or to other securities administrators or regulatory authorities or when necessary or appropriate in a proceeding or investigation under this chapter. No provision of this chapter either creates or derogates from any privilege which exists at common law or otherwise when documentary or other evidence is sought under a subpoena directed to the commissioner division or any of the commissioner's division's officers or employes.

AB150-ASA, s. 6872 Section 6872. 553.72 (intro.) of the statutes is amended to read:

AB150-ASA,2083,19 553.72 Fees and expenses. (intro.) The commissioner division shall charge and collect the fees fixed by this section.

AB150-ASA, s. 6873 Section 6873. 553.72 (2) of the statutes is amended to read:

AB150-ASA,2083,23 553.72 (2) The commissioner division may by rule require the payment of prescribed fees for delinquent or materially deficient filings of information or documents required to be filed with the commissioner division under this chapter.

AB150-ASA, s. 6874 Section 6874. 553.72 (3) of the statutes is amended to read:

AB150-ASA,2084,4 553.72 (3) The expenses reasonably attributable to the examination of any matter arising under this chapter shall be charged to the applicant or registrant involved, but the expenses so charged shall not exceed such maximum amounts as the commissioner division by rule prescribes.

AB150-ASA, s. 6875 Section 6875. 553.73 of the statutes is amended to read:

AB150-ASA,2084,24 553.73 Service of process. When any person, including any nonresident of this state, engages in conduct prohibited or made actionable by this chapter or any rule or order under this chapter, whether or not the person has filed a consent to service of process under s. 553.27 (10), and personal jurisdiction over the person cannot otherwise be obtained in this state, that conduct shall be considered equivalent to the person's appointment of the commissioner or the commissioner's successor in office division to be the person's attorney to receive service of any lawful process in any noncriminal suit, action or proceeding against the person or the person's successor, executor or administrator which grows out of that conduct and which is brought under this law or any rule or order under this chapter, with the same force and validity as if served on the person personally. Service may be made by leaving a copy of the process in at the office of the commissioner division, but it is not effective unless the plaintiff, who may be the commissioner division in a suit, action or proceeding instituted by the commissioner division, forthwith sends notice of the service and a copy of the process by registered or certified mail to the defendant or respondent at his or her last-known address or takes other steps which are reasonably calculated to give actual notice, and the plaintiff's affidavit of compliance with this section is filed in the case on or before the return day of the process, if any, or within such further time as the court allows.

AB150-ASA, s. 6876 Section 6876. 553.74 (1) of the statutes is amended to read:

AB150-ASA,2085,14 553.74 (1) All applications, reports and other papers and documents filed with the commissioner division under this chapter shall be open to public inspection in accordance with rules adopted by the commissioner division. The commissioner division may publish any information filed with or obtained by the commissioner division, if, in the judgment of the commissioner division, such action is in the public interest. No provision of this chapter authorizes the commissioner division or any of the commissioner's assistants, clerks or deputies division's employes to disclose any information withheld from public inspection except among themselves or when necessary or appropriate in a proceeding or investigation under this chapter or to other federal or state regulatory agencies. No provision of this chapter either creates or derogates from any privilege which exists at common law or otherwise when documentary or other evidence is sought under a subpoena directed to the commissioner division or any of the commissioner's assistants, clerks or deputies division's employes.

AB150-ASA, s. 6877 Section 6877. 553.74 (2) of the statutes is amended to read:

AB150-ASA,2085,19 553.74 (2) It is unlawful for the commissioner division or any of the commissioner's assistants, clerks or deputies or division's employes to use for personal benefit any information which is filed with or obtained by the commissioner division and which is not then generally available to the public.

AB150-ASA, s. 6878 Section 6878. 553.75 (1) of the statutes is amended to read:

AB150-ASA,2085,21 553.75 (1) A document is filed when it is received by the commissioner division.

AB150-ASA, s. 6879 Section 6879. 553.75 (2) of the statutes is amended to read:

AB150-ASA,2086,2 553.75 (2) The commissioner division shall keep a register of all filings which are or have ever been effective under this chapter and predecessor laws and all denial, suspension or revocation orders which have been entered under this chapter. The register shall be open for public inspection.

AB150-ASA, s. 6880 Section 6880. 553.75 (3) of the statutes is amended to read:

AB150-ASA,2086,6 553.75 (3) The information contained in or filed with any registration statement, application or report shall be made available to the public in accordance with rules adopted by the commissioner division.

AB150-ASA, s. 6881 Section 6881. 553.75 (4) of the statutes is amended to read:

AB150-ASA,2086,12 553.75 (4) The commissioner division upon request shall furnish to any person at a reasonable charge photostatic or other copies, certified under the commissioner's seal of office, by the division if certification is requested, of any entry in the register or any order or other document on file in the commissioner's office with the division. Any copy so certified is admissible in evidence under s. 889.18.

AB150-ASA, s. 6882 Section 6882. 553.75 (5) of the statutes is amended to read:

AB150-ASA,2086,15 553.75 (5) The commissioner division may honor requests from interested persons for interpretative opinions.

AB150-ASA, s. 6883 Section 6883. 553.78 of the statutes is amended to read:

AB150-ASA,2086,22 553.78 Preemption. This chapter shall not preempt the administration of ch. 96, 100, 125, 133, 168 or 218. False, fraudulent and deceptive practices in connection with the offer, purchase or sale of a franchise defined by rule of the commissioner division under s. 553.58 (1) may also constitute unfair methods of competition in business or unfair trade practices in business under s. 100.20 (1) or fraudulent advertising under s. 100.18.

AB150-ASA, s. 6884 Section 6884. 560.01 (1) of the statutes is amended to read:

AB150-ASA,2087,17 560.01 (1) Purposes. The functions of the department are of an advocacy, regulatory, consultative, advisory, informational, coordinative and promotional nature. Through research, planning, consultation and through promotion of the development and maximum wise use of the natural and human resources of the state, it shall foster the growth and diversification of the economy of the state. It shall serve as the central agency and clearinghouse for developmental activities concerning the economy of the state. It shall make recommendations to the governor for the purpose of guiding a coordinated and economically efficient development of the state and shall seek closer cooperation and coordination between units of state government, educational institutions, local governments, local planning agencies, including regional planning commissions, and business and industry to foster and encourage a pattern of community development and of state-local and business relationships so that the economy of the state may continue to develop fully and meet citizen and community needs. It shall make continuing studies of the problems affecting economic and community development and recommendations for relieving those problems, and function in any other reasonable manner that will accomplish the stated purposes of this chapter. The department may also coordinate training for local government officials provided by state agencies including, but not limited to, the university of Wisconsin-extension and the technical college system.

AB150-ASA, s. 6885 Section 6885. 560.01 (2) of the statutes is renumbered 560.01 (2) (a).

AB150-ASA, s. 6886 Section 6886. 560.01 (2) (a) (title) of the statutes is created to read:

AB150-ASA,2087,20 560.01 (2) (a) (title) State economic policy.

AB150-ASA, s. 6887 Section 6887. 560.01 (2) (b) of the statutes is created to read:

AB150-ASA,2087,25 560.01 (2) (b) Regulation of industry, buildings and safety. The department shall administer and enforce laws regulating industry, safety and buildings under chs. 101, 107, 145 and 168 and ss. 32.19 to 32.27, 167.10, 167.11 and 167.27 and as otherwise provided by statute.

AB150-ASA, s. 6887g Section 6887g. 560.03 (19) of the statutes is amended to read:

AB150-ASA,2088,3 560.03 (19) Establish and operate a permit information center and regulatory assistance bureau to provide services as set forth in subch. III.

AB150-ASA, s. 6887k Section 6887k. 560.031 of the statutes, as created by 1993 Wisconsin Act 75, is amended to read:

AB150-ASA,2088,13 560.031 Recycling market development. In carrying out its responsibilities under ss. 560.03 and 560.07, the department may promulgate rules for the provision of financial assistance for the development of markets for materials recovered from solid waste if the provision of that financial assistance is a responsibility assigned to the department in a memorandum of understanding under s. 159.03 (3) (b), contract or other agreement with the recycling market development board. The financial assistance may be in the form of grants, loans or manufacturing rebates.

AB150-ASA, s. 6890 Section 6890. 560.07 (10) of the statutes is repealed.

AB150-ASA, s. 6891 Section 6891. 560.081 (2) (e) of the statutes is amended to read:

AB150-ASA,2088,24 560.081 (2) (e) Annually select, upon application, up to 5 municipalities to participate in the state main street program. The program for each municipality shall conclude after 3 years, except that the program for each municipality selected after the effective date of this paragraph .... [revisor inserts date], shall conclude after 5 years. The department shall select program participants representing various geographical regions and populations. A municipality may apply to participate, and the department may select a municipality for participation, more than one time. In selecting a municipality, however, the department may give priority to those municipalities that have not previously participated.

AB150-ASA, s. 6892 Section 6892. 560.081 (2) (f) 3. of the statutes is amended to read:

AB150-ASA,2089,3 560.081 (2) (f) 3. Local organizational and financial commitment to employ a program manager for not less than 3 years, or not less than 5 years for participants selected after the effective date of this subdivision .... [revisor inserts date].

AB150-ASA, s. 6893 Section 6893. 560.09 (5) of the statutes, as affected by 1993 Wisconsin Act 75, is amended to read:

AB150-ASA,2089,8 560.09 (5) Consultation. The department shall consult with the council on recycling market development board in developing any proposed rules under s. 560.031.

AB150-ASA, s. 6894 Section 6894. 560.097 of the statutes is amended to read:

AB150-ASA,2089,12 560.097 Notification of position openings; compliance. The department shall monitor compliance with the position-opening notification requirements under ss. 66.521 (6m) and 101.28 106.16.

AB150-ASA, s. 6895d Section 6895d. 560.14 (3) (c) 8. of the statutes is amended to read:

AB150-ASA,2089,17 560.14 (3) (c) 8. Whether the business incubator or technology-based incubator is or will be located in an area that has been designated as a development zone under s. 560.71, a development opportunity zone under s. 560.795 or an enterprise development zone under s. 560.797.

AB150-ASA, s. 6895dm Section 6895dm. 560.14 (4) of the statutes is created to read:

AB150-ASA,2089,21 560.14 (4) (a) Subject to par. (b), the department may make a grant under this subsection from the appropriation under s. 20.143 (1) (fg) to a community-based organization for regional economic development activity if all of the following apply:

AB150-ASA,2089,24 1. A political subdivision in the region in which the economic development activity will be conducted joins in the application for the grant with the community-based organization.

AB150-ASA,2089,25 2. The economic development activity is unique to or within the region.