Amendment ASA-AB150

AB150-ASA, s. 5940 Section 5940. 218.04 (9m) (h) of the statutes is amended to read:

AB150-ASA,1770,5 218.04 (9m) (h) All accounts and valuable papers given to the agency by the claimant or forwarder in possession of the commissioner division, pertaining to accounts placed with the agency for collection shall be returned to the claimant or forwarded by the commissioner division within 30 days after verification of the claim has been made.

AB150-ASA, s. 5941 Section 5941. 218.04 (10) (a) of the statutes is amended to read:

AB150-ASA,1770,12 218.04 (10) (a) Each licensee shall annually, on or before the fifteenth day of March, file a report with the commissioner division giving such reasonable and relevant information as the commissioner division may, by general or special order, require concerning the business and operations conducted by such licensee within the state. Such report shall be made under oath and shall be in the form prescribed by the commissioner division.

AB150-ASA, s. 5942 Section 5942. 218.04 (10) (b) of the statutes is amended to read:

AB150-ASA,1770,20 218.04 (10) (b) The commissioner division shall require the licensee to keep such books and records in the licensee's place of business as will enable the commissioner division to determine whether the provisions of this section are being complied with. Every such licensee shall preserve the records of final entry used in such business for a period of at least 6 years after final remittance is made on any account placed with the licensee for collection or after any account has been returned to the claimant on which one or more payments have been paid.

AB150-ASA, s. 5943 Section 5943. 218.04 (13) of the statutes is amended to read:

AB150-ASA,1771,2 218.04 (13) Enforcement. The commissioner division shall have the duty, power, jurisdiction and authority to investigate, ascertain and determine whether this section or the lawful orders issued hereunder are being violated and for such purposes the commissioner division shall have all the powers conferred by subs. (4) and (5). The commissioner division shall report all violations to the district attorney of the proper county for prosecution.

AB150-ASA, s. 5944 Section 5944. 218.05 (1) (a) of the statutes is repealed.

AB150-ASA, s. 5945 Section 5945. 218.05 (1) (d) of the statutes is created to read:

AB150-ASA,1771,5 218.05 (1) (d) "Division" means the division of banking.

AB150-ASA, s. 5946 Section 5946. 218.05 (2) of the statutes is amended to read:

AB150-ASA,1771,10 218.05 (2) Licenses required. After July 1, 1945, no person, firm, association, partnership or corporation shall engage in the business of a community currency exchange without first securing a license to do so from the commissioner division as required by this section.

AB150-ASA, s. 5947 Section 5947. 218.05 (3) (a) (intro.) of the statutes is amended to read:

AB150-ASA,1771,14 218.05 (3) (a) (intro.) Application for such license shall be in writing, under oath, on a form to be prescribed by the commissioner division. Each application shall contain the following information:

AB150-ASA, s. 5948 Section 5948. 218.05 (3) (a) 3. of the statutes is amended to read:

AB150-ASA,1771,17 218.05 (3) (a) 3. Such other information as the commissioner division may require.

AB150-ASA, s. 5949 Section 5949. 218.05 (3) (b) of the statutes is amended to read:

AB150-ASA,1771,25 218.05 (3) (b) Such An application shall be accompanied by a nonrefundable fee of $100 $300 for the cost of investigating the applicant. When the application has been approved by the commissioner and the applicant so advised If the cost of an investigation exceeds $300, the applicant shall, upon demand of the commissioner, pay the excess cost. At the time of the application, the applicant shall pay an additional $100 $300 as an annual license fee for a period terminating ending on the last day of the current calendar year.

AB150-ASA, s. 5950 Section 5950 . 218.05 (3) (b) of the statutes, as affected by 1995 Wisconsin Act .... (this act), is amended to read:

AB150-ASA,1772,7 218.05 (3) (b) An application shall be accompanied by a nonrefundable fee of $300 for the cost of investigating the applicant. If the cost of an investigation exceeds $300, the applicant shall, upon demand of the commissioner division, pay the excess cost. At the time of the application, the applicant shall pay an additional $300 as an annual license fee for a period ending on the last day of the current calendar year.

AB150-ASA, s. 5951 Section 5951. 218.05 (3) (c) of the statutes is amended to read:

AB150-ASA,1772,19 218.05 (3) (c) Before any license is issued to a community currency exchange the applicant shall file annually with and have approved by the commissioner division a surety bond in the principal sum of $5,000, issued by an insurer authorized to do business in this state. The bond shall run to the state of Wisconsin and shall be for the benefit of any creditors of the community currency exchange for any liability incurred for any sum due to any payee of any check, draft or money order left with the community currency exchange for collection, and also for any penalties that may be imposed under this section. If the commissioner division finds at any time the bond is insecure or exhausted or otherwise doubtful, an additional bond in like amount to be approved by the commissioner division shall be filed by the licensee within 30 days after written demand by the commissioner division.

AB150-ASA, s. 5952 Section 5952. 218.05 (4) of the statutes is amended to read:

AB150-ASA,1773,15 218.05 (4) Licenses; issuance; denial. If the commissioner division shall find after investigation that the applicant (a) is trustworthy and reputable, (b) has business experience qualifying the applicant to competently conduct, operate, own, or become associated with a community currency exchange, and (c) has a good business reputation and is worthy of a license, the commissioner division shall issue to the applicant qualifying hereunder, a license to operate a community currency exchange at the location specified in the application, which license shall remain in full force and effect until it is surrendered by the licensee or revoked by the commissioner division. If the commissioner division shall not so find, the commissioner division shall not issue such license and shall notify the applicant of such denial, retaining the investigation fee to cover the cost of investigating the applicant. The commissioner division shall approve or deny every application within 30 days from the filing thereof. No application shall be denied unless the applicant has had notice of a hearing on said application and an opportunity to be heard thereon. If the application is denied, the commissioner division shall, within 20 days thereafter, prepare and keep on file in the commissioner's office with the division a written order of denial which shall contain the commissioner's division's findings with respect thereto and the reasons supporting the denial, and shall mail a copy thereof to the applicant at the address set forth in the application, within 5 days after the filing of such order.

AB150-ASA, s. 5953 Section 5953. 218.05 (6) of the statutes is amended to read:

AB150-ASA,1773,24 218.05 (6) Insurance. Every applicant for a license under this section shall, after the application for a license has been approved, submit a policy or policies of insurance to be approved by the commissioner division, issued by an insurer authorized to do business in this state, which insures the applicant against loss by burglary, larceny, robbery, forgery or embezzlement in a principal sum determined by the commissioner division. Any such policy, with respect to forgery, may carry a condition that the community currency exchange assumes the first $50 of each claim thereunder.

AB150-ASA, s. 5954 Section 5954. 218.05 (8) of the statutes is amended to read:

AB150-ASA,1774,10 218.05 (8) Other business forbidden. A community currency exchange shall not be conducted as a department unit of another business. It must be an entity, financed and conducted as a separate business unit. This shall not prevent a community currency exchange from leasing a part of the premises of another business for the conduct of this business on the same premises; provided, that no community currency exchange shall be conducted on the same premises with a business whose chief source of revenue is derived from the sale of alcohol beverages for consumption on the premises. This subsection shall not apply when such other business is subject to any statute which provides for supervision and examination by the commissioner division.

AB150-ASA, s. 5955 Section 5955. 218.05 (10) (b) of the statutes is amended to read:

AB150-ASA,1774,15 218.05 (10) (b) No more than one place of business shall be maintained under the same license, but the commissioner division may issue more than one license to the same licensee upon the compliance with the provisions of this section governing an original issuance of a license, for each new license.

AB150-ASA, s. 5956 Section 5956. 218.05 (10) (c) of the statutes is amended to read:

AB150-ASA,1774,21 218.05 (10) (c) Whenever a licensee shall wish to change the licensee's place of business to any location other than that originally set forth in the license, the licensee shall give written notice thereof to the commissioner division and if the change is approved the commissioner division shall attach to the license, in writing, a rider stating the new address or location of the community currency exchange.

AB150-ASA, s. 5957 Section 5957. 218.05 (11) of the statutes is amended to read:

AB150-ASA,1775,2 218.05 (11) Renewal. Every licensee shall, on or before December 20, pay to the commissioner the sum of $50 $300 as an annual license fee for the next succeeding calendar year and shall, at the same time, shall file with the commissioner the annual bond and insurance policy or policies in the same amount and of the same character as required by subs. (3) (c) and (6).

AB150-ASA, s. 5958 Section 5958 . 218.05 (11) of the statutes, as affected by 1995 Wisconsin Act .... (this act), is amended to read:

AB150-ASA,1775,9 218.05 (11) Renewal. Every licensee shall, on or before December 20, pay to the commissioner division the sum of $300 as an annual license fee for the next succeeding calendar year and, at the same time, shall file with the commissioner division the annual bond and insurance policy or policies in the same amount and of the same character as required by subs. (3) (c) and (6).

AB150-ASA, s. 5959 Section 5959. 218.05 (12) (a) (intro.) of the statutes is amended to read:

AB150-ASA,1775,15 218.05 (12) (a) (intro.) The commissioner division may, upon 10 days' notice to the licensee by mail directed to the licensee at the address set forth in the license, stating the contemplated action and in general the grounds therefor, and upon reasonable opportunity to be heard prior to such action, revoke any license issued hereunder if the commissioner division shall find that:

AB150-ASA, s. 5960 Section 5960. 218.05 (12) (a) 1. of the statutes is amended to read:

AB150-ASA,1775,20 218.05 (12) (a) 1. The licensee has failed to pay the annual license fee or to maintain in effect the required bond or insurance policy or policies or to comply with any order, decision or finding of the commissioner division made pursuant to this section.

AB150-ASA, s. 5961 Section 5961. 218.05 (12) (a) 2. of the statutes is amended to read:

AB150-ASA,1775,23 218.05 (12) (a) 2. The licensee has violated any provision of this section or any regulation or direction made by the commissioner division under this section.

AB150-ASA, s. 5962 Section 5962. 218.05 (12) (a) 3. of the statutes is amended to read:

AB150-ASA,1776,3 218.05 (12) (a) 3. 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 the issuance of the license.

AB150-ASA, s. 5963 Section 5963. 218.05 (12) (b) of the statutes is amended to read:

AB150-ASA,1776,10 218.05 (12) (b) The commissioner division may revoke only the particular license with respect to which grounds for revocation may occur or exist, or if the commissioner division shall find that such grounds for revocation are of general application to all offices or to more than one office operated by such licensee, the commissioner division may revoke all of the licenses issued to such licensee or such number of licenses to which such grounds apply.

AB150-ASA, s. 5964 Section 5964. 218.05 (12) (c) of the statutes is amended to read:

AB150-ASA,1776,16 218.05 (12) (c) A licensee may surrender any license by delivering to the commissioner division written notice that the licensee surrenders such license, but such surrender shall not affect such licensee's civil or criminal liability for acts committed prior to such surrender, or affect the licensee's bond, or entitle such licensee to a return of any part of the annual license fee.

AB150-ASA, s. 5965 Section 5965. 218.05 (12) (d) of the statutes is amended to read:

AB150-ASA,1776,23 218.05 (12) (d) Every license issued hereunder shall remain in force until the same has been surrendered or revoked in accordance with this section, but the commissioner division may on the commissioner's division's own motion issue new licenses to a licensee whose license or licenses shall have been revoked if no fact or condition then exists which clearly would have warranted the commissioner division in refusing originally the issuance of such license under this section.

AB150-ASA, s. 5966 Section 5966. 218.05 (12) (e) of the statutes is amended to read:

AB150-ASA,1777,8 218.05 (12) (e) No license shall be revoked until the licensee has had notice of a hearing thereon and an opportunity to be heard. When any license is so revoked, the commissioner division shall within 20 days thereafter, prepare and keep on file in the commissioner's office with the division, a written order or decision of revocation which shall contain the commissioner's division's findings with respect thereto and the reasons supporting the revocation and shall send by mail a copy thereof to the licensee at the address set forth in the license within 5 days after the filing in the commissioner's office with the division of such order, finding or decision.

AB150-ASA, s. 5967 Section 5967. 218.05 (13) of the statutes is amended to read:

AB150-ASA,1777,12 218.05 (13) Review of orders. Any person aggrieved by any order of the commissioner division made under this section may have a review thereof by the consumer credit review board under s. 220.037.

AB150-ASA, s. 5968 Section 5968. 218.05 (14) (a) of the statutes is amended to read:

AB150-ASA,1777,20 218.05 (14) (a) A licensee shall annually, on or before February 15, file a report with the commissioner division that shall be used only for the official purposes of the commissioner division giving relevant information that the commissioner division may reasonably require concerning, and for the purpose of examining, the business and operations during the preceding calendar year of each licensed place of business conducted by the licensee within this state. The report shall be made under oath and shall be in the form prescribed by the commissioner division.

AB150-ASA, s. 5969 Section 5969. 218.05 (14) (b) 1. of the statutes is amended to read:

AB150-ASA,1777,24 218.05 (14) (b) 1. A licensee shall keep books, accounts and records to enable the commissioner division to determine if the licensee is complying with this section and with rules promulgated by and orders issued by the commissioner division.

AB150-ASA, s. 5970 Section 5970. 218.05 (14) (b) 2. of the statutes is amended to read:

AB150-ASA,1778,3 218.05 (14) (b) 2. A licensee shall keep within this state the books, accounts and records required by this paragraph at the licensee's place of business or a place readily accessible to the commissioner or examiners division.

AB150-ASA, s. 5971 Section 5971. 218.05 (14) (c) 1. of the statutes is amended to read:

AB150-ASA,1778,13 218.05 (14) (c) 1. The commissioner division may investigate the business and examine the books, accounts and records of a licensee at any time. For that purpose, the commissioner division shall have free access to the offices and places of business and to the books, accounts and records of a licensee. The commissioner division may examine any person under oath or affirmation whose testimony the commissioner division requires relative to the licensee. The commissioner or a designated representative An employe of the division may administer an oath or affirmation to a person called as a witness. The commissioner or the commissioner's representative An employe of the division may conduct the examination.

AB150-ASA, s. 5972 Section 5972. 218.05 (14) (c) 2. of the statutes is amended to read:

AB150-ASA,1778,17 218.05 (14) (c) 2. The commissioner division shall determine the cost of an examination. A licensee shall pay the cost of an examination within 30 days after the commissioner division demands payment.

AB150-ASA, s. 5973 Section 5973. 218.14 (1) (a) of the statutes is amended to read:

AB150-ASA,1778,22 218.14 (1) (a) That the primary housing unit meets those standards prescribed by law or administrative rule of the department of administration or of the department of industry, labor and human relations development, which are in effect at the time of its manufacture.

AB150-ASA, s. 5976 Section 5976. 219.09 of the statutes is amended to read:

AB150-ASA,1779,4 219.09 (title) Local exposition Certain district and authority bonds as legal investments and security. (1) A bank, trust company, savings bank or institution, savings and loan association, credit union or investment company or a personal representative, guardian, trustee or other fiduciary may legally invest any moneys or funds belonging to or within that person's control in bonds issued by a any of the following:

AB150-ASA,1779,5 (a) A local exposition district under subch. II of ch. 229.

AB150-ASA,1779,7 (2) This section shall not be construed as relieving any person of any duty of exercising any required level of care in selecting securities.

AB150-ASA, s. 5977 Section 5977. 219.09 (1) (b) of the statutes is created to read:

AB150-ASA,1779,9 219.09 (1) (b) The University of Wisconsin Hospitals and Clinics Authority.

AB150-ASA, s. 5978 Section 5978. 220.01 (1m) of the statutes is created to read:

AB150-ASA,1779,11 220.01 (1m) "Division" means the division of banking.

AB150-ASA, s. 5979 Section 5979. 220.02 (title) of the statutes is amended to read:

AB150-ASA,1779,13 220.02 (title) Commissioner of banking Division; duties.

AB150-ASA, s. 5980 Section 5980. 220.02 (1) of the statutes is repealed.

AB150-ASA, s. 5981 Section 5981. 220.02 (2) (intro.) of the statutes is amended to read:

AB150-ASA,1779,18 220.02 (2) (intro.) The commissioner of banking division shall enforce all laws relating to banks and banking in this state, and shall enforce and cause to be enforced every law relating to the supervision and control thereof, including those relating to:

AB150-ASA, s. 5982 Section 5982. 220.02 (3) of the statutes is amended to read:

AB150-ASA,1780,3 220.02 (3) It is the intent of sub. (2) to give the commissioner of banking division jurisdiction to enforce and carry out all laws relating to banks or banking in this state, including those relating to state banks, trust company banks, and also all laws relating to small loan companies or other loan companies or agencies, finance companies, motor vehicle dealers, adjustment service companies, community currency exchanges and collection agencies and those relating to sellers of checks under ch. 217, whether doing business as corporations, individuals or otherwise, but to exclude laws relating to credit unions, savings banks and savings and loan associations.

AB150-ASA, s. 5983 Section 5983. 220.02 (5) of the statutes is amended to read:

AB150-ASA,1780,11 220.02 (5) Except as otherwise provided in s. 220.037, any interested person or any bank or banking corporation aggrieved by an act, order or determination of the commissioner division may, within 10 days from the date thereof, apply to the banking review board to review the same. All such applications for review shall be considered and disposed of as speedily as possible. The banking review board may require the commissioner division to submit any of the commissioner's official division's actions subject to such review to said board for its approval.

AB150-ASA, s. 5984 Section 5984. 220.02 (6) of the statutes is repealed.

AB150-ASA, s. 5985 Section 5985. 220.035 (1) (a) of the statutes is amended to read:

AB150-ASA,1780,22 220.035 (1) (a) The banking review board shall advise the commissioner of banking division and others in respect to improvement in the condition and service of banks and banking business in this state and shall review the acts and decisions of the commissioner of banking division with respect to banks, except for such acts and decisions subject to review under s. 220.037, and shall perform such other review functions in relation to banking as are provided by law. The banking review board may require the commissioner of banking division to submit any of the commissioner's official division's actions to it for its approval. The board may make rules of procedure as provided in ch. 227.