LRBa3510/2
KSH:kmg:km
1995 - 1996 LEGISLATURE
ASSEMBLY AMENDMENT 1,
To 1995 ASSEMBLY BILL 782
February 26, 1996 - Offered by Committee on Insurance, Securities and
Corporate Policy
.
AB782-AA1,1,11 At the locations indicated, amend the bill as follows:
AB782-AA1,1,2 21. Page 3, line 5: delete "(1)".
AB782-AA1,1,3 32. Page 5, line 13: before "form" insert "notice".
AB782-AA1,1,4 43. Page 6, line 2: after "notice" insert "form".
AB782-AA1,1,5 54. Page 6, line 3: after "notice" insert "form".
AB782-AA1,1,8 65. Page 6, line 7: delete the material beginning with "review" and ending with
7the period on line 8 and substitute: "require changes in the offering circular filed by
8the franchisor.".
AB782-AA1,1,10 96. Page 8, line 23: delete the material beginning with that line and ending with
10page 9, line 3, and substitute:
AB782-AA1,1,12 11" Section 41e. 553.28 (1) (a) of the statutes, as affected by 1995 Wisconsin Act
1227
, is repealed and recreated to read:
AB782-AA1,1,1513 553.28 (1) (a) That the franchisor or any person acting on behalf of the
14franchisor failed to provide an offering circular to a person purchasing a franchise
15in this state within the time period prescribed in s. 553.27 (4).
AB782-AA1, s. 41m
1Section 41m. 553.28 (1) (b) of the statutes is repealed and recreated to read:
AB782-AA1,2,52 553.28 (1) (b) That any person in this state was sold a franchise by means of
3any written or oral communication that contained an untrue statement of a material
4fact, or that omitted to state a material fact necessary in order to make statements
5made, in the light of the circumstances under which they were made, not misleading.
AB782-AA1, s. 41s 6Section 41s. 553.28 (1) (c) of the statutes is repealed.".
AB782-AA1,2,8 77. Page 9, line 17: delete "of the statutes is" and substitute ", (g) and (h) of the
8statutes are".
AB782-AA1,2,9 98. Page 10, line 10: delete "or" and substitute "or".
AB782-AA1,2,12 109. Page 10, line 11: delete lines 11 to 13 and substitute: "under s. 553.31 (1),
11omit to state a material fact necessary in order to make the statement made, in the
12light of the circumstances under which they are it is made, not misleading.".
AB782-AA1,2,13 1310. Page 11, line 15: delete "subfranchisee's" and substitute "subfranchisor's".
AB782-AA1,2,14 1411. Page 12, line 7: after "maintained" insert "against any person".
AB782-AA1,2,15 1512. Page 12, line 11: after "disclosing" insert "from or on behalf of that person".
AB782-AA1,2,16 1613. Page 13, line 8: after that line insert:
AB782-AA1,2,17 17" Section 59m. 553.54 (2) (a) of the statutes is amended to read:
AB782-AA1,3,218 553.54 (2) (a) The court may, prior to the entry of final judgment, issue such
19orders or judgments as are necessary to restore to any person any pecuniary loss
20suffered because of the acts or practices involved in the action if proof of the
21pecuniary loss is submitted to the satisfaction of the court. Orders or judgments
22under this paragraph shall not provide restoration of any pecuniary loss to persons
23for whom recovery is sought where the defendant in the action establishes that the
24persons were in possession of knowledge which would defeat recovery by them in a

1private civil action under s. 553.51 (1) or (2). Persons liable for pecuniary losses
2under this paragraph are the same as provided under s. 553.51 (3).".
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