Amendment ASA-AB150

AB150-ASA, s. 5893 Section 5893. 218.01 (7b) of the statutes is amended to read:

AB150-ASA,1756,25 218.01 (7b) Purchase of motor vehicle by minor. No minor shall purchase any motor vehicle unless the minor, at the time of purchase, submits to the seller a statement verified before a person authorized to administer oaths and made and signed by either parent of the purchaser, if such parent has custody of the minor or, if neither parent has custody, then by the person having custody, setting forth that the purchaser has consent to purchase the vehicle. The signature on the statement shall not impute any liability for the purchase price of the motor vehicle to the consenting person. The statement shall not adversely affect any other arrangement for the assumption of liability for the purchase price which the consenting person may make. The signed statement shall accompany the application for a certificate of title and shall be filed by the department of transportation with the application. Failure to obtain the consent or to forward it with the application for a certificate of title shall not void the contract of sale of a motor vehicle in the hands of an innocent holder, without notice, for value and in the ordinary course of business. Any person who sells a motor vehicle to a minor with knowledge of such fact without procuring such a statement may be fined not more than $200 or imprisoned not more than 6 months or both.

AB150-ASA, s. 5894 Section 5894. 218.02 (1) (b) of the statutes is repealed.

AB150-ASA, s. 5895 Section 5895. 218.02 (1) (d) of the statutes is created to read:

AB150-ASA,1757,3 218.02 (1) (d) "Division" means the division of banking.

AB150-ASA, s. 5896 Section 5896. 218.02 (2) (a) of the statutes is amended to read:

AB150-ASA,1757,10 218.02 (2) (a) Each adjustment service company shall apply to the commissioner of banking division for a license to engage in such business. Application for a separate license for each office of a company to be operated under this section shall be made to the commissioner division in writing, under oath, in a form to be prescribed by the commissioner division. The commissioner division may issue more than one license to the same licensee.

AB150-ASA, s. 5897 Section 5897. 218.02 (2) (b) of the statutes is amended to read:

AB150-ASA,1757,17 218.02 (2) (b) At the time of making application and before engaging in business, every applicant for an adjustment service company license shall pay a nonrefundable $200 fee of $100 to the commissioner for investigating the application and the sum of $100 as an a $200 annual license fee. If the cost of an investigation exceeds $100 $200, the applicant shall, upon demand of the commissioner, pay the excess cost. No investigation fee shall be required on the renewal of a license.

AB150-ASA, s. 5898 Section 5898 . 218.02 (2) (b) of the statutes, as affected by 1995 Wisconsin Act .... (this act), is amended to read:

AB150-ASA,1757,25 218.02 (2) (b) At the time of making application and before engaging in business, every applicant for an adjustment service company license shall pay a nonrefundable $200 fee to the commissioner division for investigating the application and a $200 annual license fee. If the cost of an investigation exceeds $200, the applicant shall, upon demand of the commissioner division, pay the excess cost. No investigation fee shall be required on the renewal of a license.

AB150-ASA, s. 5899 Section 5899. 218.02 (2) (c) of the statutes is amended to read:

AB150-ASA,1758,6 218.02 (2) (c) The commissioner division may require any licensee either before or after the issuance of the license to file and maintain in force a bond in a form to be prescribed by and acceptable to the commissioner division, in such sum as the commissioner division may deem necessary to safeguard the interest of the borrowers and the public, not exceeding, however, the sum of $5,000.

AB150-ASA, s. 5900 Section 5900. 218.02 (3) (intro.) of the statutes is amended to read:

AB150-ASA,1758,11 218.02 (3) Conditions of the issuance of licenses. (intro.) The commissioner division shall issue a license to the applicant to conduct such business at the office specified in the application in accordance with the provisions of this section, if the commissioner division shall find:

AB150-ASA, s. 5901 Section 5901. 218.02 (4) of the statutes is amended to read:

AB150-ASA,1758,18 218.02 (4) Order denying application. If the commissioner division is not satisfied as to all of the matters specified in sub. (3) the commissioner division shall enter a special order denying the application for a license and shall return the applicant's license fee. The commissioner division shall make findings of fact as part of and in support of the commissioner's division's order denying any application for a license.

AB150-ASA, s. 5902 Section 5902. 218.02 (5) (b) of the statutes is amended to read:

AB150-ASA,1759,2 218.02 (5) (b) Whenever a licensee shall contemplate a change of the licensee's place of business to another location within the same city, village or town, the licensee shall give written notice thereof to the commissioner, who division, which shall attach to the license the commissioner's division's authorization of such removal, specifying the date thereof and the new location. Such authorization shall be authority for the operation of such business under the same license at the specified new location. No change in the place of business of a licensee to a location outside of the original city, village or town shall be permitted under the same license.

AB150-ASA, s. 5903 Section 5903. 218.02 (5) (c) of the statutes is amended to read:

AB150-ASA,1759,6 218.02 (5) (c) Every licensee shall, on or before the tenth day of each December, pay to the commissioner division the annual license fee for the next succeeding calendar year.

AB150-ASA, s. 5904 Section 5904. 218.02 (6) (intro.) of the statutes is amended to read:

AB150-ASA,1759,10 218.02 (6) Revocation; suspension; reinstatement and term of licenses. (intro.) The commissioner division, after complaint, notice and hearings as provided in s. 217.19, shall revoke any license in the following cases:

AB150-ASA, s. 5905 Section 5905. 218.02 (6) (c) of the statutes is amended to read:

AB150-ASA,1759,14 218.02 (6) (c) If any fact or condition exists which, if it had existed at the time of the original application for such license, clearly would have warranted the commissioner division in refusing to issue such license;

AB150-ASA, s. 5906 Section 5906. 218.02 (7) (intro.) of the statutes is amended to read:

AB150-ASA,1759,19 218.02 (7) (title) Powers of commissioner division. (intro.) It shall be the duty of the commissioner division and the commissioner division shall have power, jurisdiction and authority to investigate the conditions and ascertain the facts with reference to such companies and upon the basis thereof:

AB150-ASA, s. 5907 Section 5907. 218.02 (7) (c) of the statutes is amended to read:

AB150-ASA,1760,2 218.02 (7) (c) At any time and so often as the commissioner division may determine to investigate the business and examine the books, accounts, records and files used therein of every licensee. The cost of an examination shall be determined by the commissioner division and shall be paid to the commissioner division by every licensee so examined within 30 days after demand therefor by the commissioner division, and the state may maintain an action for the recovery of such costs in any court of competent jurisdiction;

AB150-ASA, s. 5908 Section 5908. 218.02 (9) (a) of the statutes is amended to read:

AB150-ASA,1760,8 218.02 (9) (a) The commissioner division may make such rules and require such reports as the commissioner division deems necessary for the enforcement of this section. Sections 217.17, 217.18 and 217.21 (1) and (2) apply to and are available for the purposes of this section. Orders of the commissioner division under this section are subject to review by the consumer credit review board under s. 220.037.

AB150-ASA, s. 5909 Section 5909. 218.02 (9) (b) of the statutes is amended to read:

AB150-ASA,1760,12 218.02 (9) (b) All fees and moneys received by the commissioner division under authority of this chapter shall be paid by the commissioner division into the state treasury within one week after the receipt thereof.

AB150-ASA, s. 5910 Section 5910. 218.02 (9) (c) of the statutes is amended to read:

AB150-ASA,1760,18 218.02 (9) (c) The commissioner division shall investigate, ascertain and determine whether this chapter or the lawful orders issued hereunder are being violated and for such purposes the commissioner division shall have all of the powers conferred by ss. 217.17 and 217.18. The commissioner division shall report all violations to the district attorney of the proper county for prosecution.

AB150-ASA, s. 5911 Section 5911. 218.04 (1) (c) of the statutes is amended to read:

AB150-ASA,1760,21 218.04 (1) (c) "Commissioner" "Division" means the commissioner division of banking.

AB150-ASA, s. 5912 Section 5912. 218.04 (3) (a) of the statutes is amended to read:

AB150-ASA,1761,2 218.04 (3) (a) Application for licenses under the provisions of this section shall be made to the commissioner division in writing, under oath, on a form to be prescribed by the commissioner division. All licenses shall expire on June thirtieth next following their date of issue.

AB150-ASA, s. 5913 Section 5913. 218.04 (3) (b) of the statutes is amended to read:

AB150-ASA,1761,9 218.04 (3) (b) At the time of making application, every applicant for a collection agency license shall pay a nonrefundable fee of $100 $1,000 to the commissioner for investigating the application, unless the applicant is already licensed under this section, and the sum of $100 $200 as an annual license fee. If the cost of investigation exceeds $100 $1,000, the applicant shall, upon demand of the commissioner, pay the excess cost. No investigation fee is required on the renewal of a license.

AB150-ASA, s. 5914 Section 5914 . 218.04 (3) (b) of the statutes, as affected by 1995 Wisconsin Act .... (this act), is amended to read:

AB150-ASA,1761,17 218.04 (3) (b) At the time of making application, every applicant for a collection agency license shall pay a nonrefundable fee of $1,000 to the commissioner division for investigating the application, unless the applicant is already licensed under this section, and the sum of $200 as an annual license fee. If the cost of investigation exceeds $1,000, the applicant shall, upon demand of the commissioner division, pay the excess cost. No investigation fee is required on the renewal of a license.

AB150-ASA, s. 5915 Section 5915. 218.04 (3) (c) of the statutes is amended to read:

AB150-ASA,1761,24 218.04 (3) (c) The license fee for a collector or solicitor shall be $2 $15. This license shall be carried as a means of identification whenever the collector is engaged in business. The license shall state the name of the employer and in case of a change of employer the commissioner shall indorse such change on the license without charge shall be surrendered to the commissioner upon termination of employment. A new license is required for a change of employment.

AB150-ASA, s. 5916 Section 5916 . 218.04 (3) (c) of the statutes, as affected by 1995 Wisconsin Act .... (this act), is amended to read:

AB150-ASA,1762,7 218.04 (3) (c) The license fee for a collector or solicitor shall be $15. This license shall be carried as a means of identification whenever the collector is engaged in business. The license shall state the name of the employer and shall be surrendered to the commissioner division upon termination of employment. A new license is required for a change of employment.

AB150-ASA, s. 5917 Section 5917. 218.04 (3) (d) of the statutes is amended to read:

AB150-ASA,1762,12 218.04 (3) (d) The commissioner division may require any licensee to file and maintain in force a bond, in a form to be prescribed by and acceptable to the commissioner division, and in such sum as the commissioner division may deem reasonably necessary to safeguard the interests of the public.

AB150-ASA, s. 5918 Section 5918. 218.04 (4) (a) of the statutes is amended to read:

AB150-ASA,1762,24 218.04 (4) (a) Upon the filing of such application and the payment of such fee, the commissioner division shall make an investigation, and if the commissioner division finds that the character and general fitness and the financial responsibility of the applicant, and the members thereof if the applicant is a partnership, limited liability company or association, and the officers and directors thereof if the applicant is a corporation, warrant the belief that the business will be operated in compliance with this section the commissioner division shall thereupon issue a license to said applicant. Such license is not assignable and shall permit operation under it only at or from the location specified in the license. A nonresident of this state may, upon complying with all other provisions of this section, secure a collection agency license provided the nonresident maintains an active office in this state.

AB150-ASA, s. 5919 Section 5919. 218.04 (4) (b) of the statutes is amended to read:

AB150-ASA,1763,6 218.04 (4) (b) No licensee shall conduct a collection agency business within any office, room or place of business in which any other business is solicited or engaged in, or in association or conjunction therewith, except as may be authorized in writing by the commissioner division upon finding that the character of such other business is such that the granting of such authority would not facilitate evasion of this section or the lawful orders issued thereunder.

AB150-ASA, s. 5920 Section 5920. 218.04 (5) (a) (intro.) of the statutes is amended to read:

AB150-ASA,1763,9 218.04 (5) (a) (intro.) The commissioner division may suspend or revoke any license issued under this section if the commissioner division finds that:

AB150-ASA, s. 5921 Section 5921. 218.04 (5) (a) 1. of the statutes is amended to read:

AB150-ASA,1763,12 218.04 (5) (a) 1. The licensee has violated any of the provisions of this section or any lawful order of the commissioner division made thereunder;

AB150-ASA, s. 5922 Section 5922. 218.04 (5) (a) 2. of the statutes is amended to read:

AB150-ASA,1763,16 218.04 (5) (a) 2. Any fact or condition exists which, if it had existed at the time of the original application for such license, would have warranted the commissioner division in refusing to issue such license;

AB150-ASA, s. 5923 Section 5923. 218.04 (5) (c) of the statutes is amended to read:

AB150-ASA,1763,23 218.04 (5) (c) In the event of the death of a licensee, if the licensee is an individual, or of the partners, if the licensee is a partnership, the license of the agency shall terminate as of the date of death of said licensee, except the commissioner division may reinstate a license if the estate of the former licensee signifies to the commissioner division within 45 days its intention to continue the business of the agency.

AB150-ASA, s. 5924 Section 5924. 218.04 (6) (a) of the statutes is amended to read:

AB150-ASA,1764,7 218.04 (6) (a) Whenever a collection agency shall contemplate a change of its place of business to another location within the same city or village, it shall give written notice thereof to the commissioner, who division, which shall attach to the license the commissioner's division's authorization of such removal, specifying the date thereof and the new location. Such authorization shall be authority for the operation of such business under the same license at the specified new location. All collection agency licenses shall be conspicuously posted in the office of the licensee.

AB150-ASA, s. 5925 Section 5925. 218.04 (6) (b) of the statutes is amended to read:

AB150-ASA,1764,11 218.04 (6) (b) Every licensee applying for a renewal of a license shall, on or before the first day of June, pay in advance to the commissioner division the annual license fee.

AB150-ASA, s. 5926 Section 5926. 218.04 (6) (c) (intro.) of the statutes is amended to read:

AB150-ASA,1764,16 218.04 (6) (c) (intro.) Before discontinuing operating as a collection agency under the provisions of this section, every licensee shall furnish the commissioner division with proof in a form to be determined by the commissioner division and approved by the advisory committee that:

AB150-ASA, s. 5927 Section 5927. 218.04 (7) (intro.) of the statutes is amended to read:

AB150-ASA,1764,22 218.04 (7) (title) Powers of commissioner division; advisory committees. (intro.) It shall be the duty of the commissioner division and the commissioner division shall have power, jurisdiction and authority to investigate the conditions and ascertain the facts with reference to the collection of accounts and upon the basis thereof:

AB150-ASA, s. 5928 Section 5928. 218.04 (7) (b) of the statutes is amended to read:

AB150-ASA,1765,18 218.04 (7) (b) For the purpose of discovering violations of this section the commissioner division may cause an investigation to be made of the business of the licensee transacted under the provisions of this section, and shall cause an investigation to be made of convictions reported to the commissioner division by any district attorney for violation by a licensee of any of the provisions of this section. The place of business, books of accounts, papers, records, safes and vaults of said licensee shall be open to inspection and examination by the commissioner or the commissioner's representative division for the purpose of such investigation and the commissioner division shall have authority to examine under oath all persons whose testimony is required relative to said investigation. The cost of the first investigation or examination during any licensing year shall be paid by the licensee, but the cost of additional investigation or examination during such year shall be paid by the licensee only if such examination discloses violation of sub. (5) (a) 4. The commissioner division shall determine the cost of an investigation or examination. The licensee shall pay the cost of any hearing including witness fees, unless it be found by the commissioner division, board of review or court that licensee has not violated any provision of this section. All said costs shall be paid by the licensee within 30 days after demand therefor by the commissioner division. The state may maintain an action for the recovery of such costs and expenses in any court of competent jurisdiction.

AB150-ASA, s. 5929 Section 5929. 218.04 (7) (c) of the statutes is amended to read:

AB150-ASA,1766,2 218.04 (7) (c) To appoint advisers from the individuals engaged in the collection business in the state and in any locality, which advisers shall be consulted by and shall assist the commissioner division in the execution of the commissioner's division's duties under the provisions of this section. The commissioner may appoint such advisers as deputies. Such persons, either as advisers or deputies, shall receive no compensation for their services but may be reimbursed for their actual and necessary traveling expenses. Such expenses shall be audited and paid and charged to the commissioner division for the administration of this chapter.

AB150-ASA, s. 5930 Section 5930. 218.04 (8) of the statutes is amended to read:

AB150-ASA,1766,6 218.04 (8) Hearings and orders. The commissioner division shall have the same power to conduct hearings, take testimony and secure evidence as is provided in ss. 217.17, 217.18 and 217.19.

AB150-ASA, s. 5931 Section 5931. 218.04 (9) of the statutes is amended to read:

AB150-ASA,1766,10 218.04 (9) Administrative review. Any licensee or other person in interest being dissatisfied with any order of the commissioner division made under this section may have a review thereof as provided in s. 220.037.

AB150-ASA, s. 5932 Section 5932. 218.04 (9g) (b) of the statutes is amended to read:

AB150-ASA,1766,17 218.04 (9g) (b) A licensee shall establish a trust account with a financial institution. The licensee shall notify the commissioner division of the name of the financial institution that maintains the trust account. The commissioner division may prohibit a licensee from establishing or maintaining a trust account in a financial institution if the commissioner division believes that the financial institution is operating in an unsafe or unsound manner.

AB150-ASA, s. 5933 Section 5933. 218.04 (9m) (title) of the statutes is amended to read:

AB150-ASA,1766,20 218.04 (9m) (title) Delinquent collection agencies; commissioner division may take possession.

AB150-ASA, s. 5934 Section 5934. 218.04 (9m) (a) of the statutes is amended to read:

AB150-ASA,1767,13 218.04 (9m) (a) If the commissioner division finds that a licensee is insolvent or that the licensee has collected accounts but has failed to remit money due to any claimant or forwarder within 30 days from the end of the month in which collection was made, and it is necessary to protect the interest of the public or when the license of a collection agency has expired or has terminated for any reason whatsoever, the commissioner division may take possession of the assets and the books and records of the licensee for the purpose of liquidating its business, and for such other relief as the nature of the case and the interest of the claimants or forwarders may require. The liquidation of business shall be made by and under the supervision of the commissioner division either in the name of the commissioner division or in the name of the licensee and the commissioner or the commissioner's successor division shall be vested with title to all of the assets including the proceeds of the bond or bonds which have been filed with the commissioner division as provided for under sub. (3) (d), and the proceeds of any and all money paid direct to the claimant or forwarder by the debtor prior to the date said license has terminated. Money paid to the licensee or to the commissioner division after the termination of the license shall be disposed of by the commissioner division with the approval of the circuit court.

AB150-ASA, s. 5935 Section 5935. 218.04 (9m) (b) of the statutes is amended to read:

AB150-ASA,1767,19 218.04 (9m) (b) In taking possession of the property and business of any such collection agency, the commissioner division shall forthwith give notice to any and all banks or other financial institutions holding or in possession of any bank balances or assets of such agency and thereafter such assets shall be held subject to the order of the commissioner division.

AB150-ASA, s. 5936 Section 5936. 218.04 (9m) (c) of the statutes is amended to read: