AB150: Bill Text

AB150, s. 6440 Section 6440. 350.17 (1) of the statutes is amended to read:

AB150,2117,3 350.17 (1) Any officer of the state traffic patrol under s. 110.07 (1), inspector under s. 110.07 (3), warden of the department under s. 23.10, county sheriff or municipal peace law enforcement officer may enforce the provisions of this chapter.

AB150, s. 6441 Section 6441. 406.104 (1) (c) of the statutes is amended to read:

AB150,2117,8 406.104 (1) (c) The transferee preserves the list and schedule for 6 months next following the transfer and permits inspection of either or both and copying therefrom at all reasonable hours by any creditor of the transferor, or files the list and schedule in with the office of the secretary of state department of financial institutions.

AB150, s. 6442 Section 6442. 409.105 (1) (dm) of the statutes is created to read:

AB150,2117,10 409.105 (1) (dm) "Department" means the department of financial institutions.

AB150, s. 6443 Section 6443. 409.401 (1) (c) of the statutes is amended to read:

AB150,2117,13 409.401 (1) (c) In all other cases, in the office of the secretary of state with the department.

AB150, s. 6444 Section 6444. 409.401 (5) of the statutes is amended to read:

AB150,2117,19 409.401 (5) Notwithstanding the preceding subsections, and subject to s. 409.302 (3), the proper place to file in order to perfect a security interest in collateral, including fixtures, of a transmitting utility is the office of the secretary of state with the department. This filing constitutes a fixture filing under s. 409.313 as to the collateral described therein which is or is to become fixtures.

AB150, s. 6445 Section 6445. 409.402 (3m) of the statutes is amended to read:

AB150,2117,25 409.402 (3m) The secretary of state department shall prescribe by rule standard forms for filing a financing statement, continuation statement, termination statement, statement of assignment or statement of release. A filing officer may refuse to accept statements not on the required form or not containing information required under sub. (1).

AB150, s. 6446 Section 6446. 409.403 (3) of the statutes is amended to read:

AB150,2118,23 409.403 (3) A continuation statement may be filed by the secured party within 6 months prior to the expiration of the 5-year period specified in sub. (2). Any such continuation statement must be signed by the secured party, identify the original statement by file number and state that the original statement is still effective. A continuation statement signed by a person other than the secured party of record must be accompanied by a separate written statement of assignment signed by the secured party of record and complying with s. 409.405 (2), including payment of the required fee. Upon timely filing of the continuation statement, the effectiveness of the original statement is continued for 5 years after the last date to which the filing was effective whereupon it lapses in the same manner as provided in sub. (2) unless another continuation statement is filed prior to such lapse. Succeeding continuation statements may be filed in the same manner to continue the effectiveness of the original statement. Unless a statute on disposition of public records provides otherwise, the filing officer may remove a lapsed statement from the files and destroy it immediately if the officer has retained a microfilm or other photographic record or an optical disk or electronic copy. In other cases a lapsed statement may not be destroyed until after one year after the lapse. The filing officer shall so arrange matters by physical annexation of financing statements to continuation statements or other related filings, or by other means, that if the officer physically destroys the financing statements of a period more than 5 years past, those which have been continued by a continuation statement or which are still effective under sub. (6) shall be retained.

AB150, s. 6447 Section 6447. 409.403 (4) of the statutes is amended to read:

AB150,2119,6 409.403 (4) Except as provided in sub. (7), a filing officer shall mark each statement with a file number and with the date and hour of filing and shall hold the statement or a microfilm or other photographic copy thereof, or an optical disk or electronic copy thereof, for public inspection. In addition the filing officer shall index the statements according to the name of the debtor and shall note in the index the file number and the address of the debtor given in the statement.

AB150, s. 6448 Section 6448. 409.403 (5) (a) 1. of the statutes is amended to read:

AB150,2119,15 409.403 (5) (a) 1. The fee for filing and indexing and for stamping a copy furnished by the secured party to show the date and place of filing for an original financing statement is $8 if the statement is on the standard form prescribed by the secretary of state department and is $16 if the statement is not on the standard form or if additional pages are attached to the standard form. The fee for filing an original financing statement subject to s. 409.402 (5) is $10 if the statement is on the standard form and is $20 if the statement is not on the standard form or if additional pages are attached to the standard form.

AB150, s. 6449 Section 6449. 409.403 (5) (a) 2. of the statutes is amended to read:

AB150,2119,22 409.403 (5) (a) 2. The fee for filing and indexing and for stamping a copy furnished by the secured party to show the date and place of filing for an amendment or a continuation statement is $5 if the amendment or statement is on the standard form prescribed by the secretary of state department and is $10 if the amendment or statement is not on the standard form or if additional pages are attached to the standard form.

AB150, s. 6450 Section 6450. 409.403 (5) (a) 3. of the statutes, as affected by 1993 Wisconsin Act 452, is amended to read:

AB150,2120,4 409.403 (5) (a) 3. A register of deeds shall forward $3 to the office of the secretary of state department for each original financing statement filed with the office of the register of deeds under subd. 1. and for each amendment and each continuation statement filed with the office of the register of deeds under subd. 2.

AB150, s. 6451 Section 6451. 409.403 (5) (b) (title) of the statutes is amended to read:

AB150,2120,7 409.403 (5) (b) (title) Fees for filing with the office of the secretary of state department of financial institutions.

AB150, s. 6452 Section 6452. 409.403 (5) (b) 1. of the statutes is amended to read:

AB150,2120,13 409.403 (5) (b) 1. The fee for filing and indexing and for stamping a copy furnished by the secured party to show the date and place of filing for an original financing statement is $8 if the statement is on the standard form prescribed by the secretary of state department and is $16 if the statement is not on the standard form or if additional pages are attached to the standard form.

AB150, s. 6453 Section 6453. 409.403 (5) (b) 2. of the statutes is amended to read:

AB150,2120,20 409.403 (5) (b) 2. The fee for filing and indexing and for stamping a copy furnished by the secured party to show the date and place of filing for an amendment or a continuation statement is $5 if the amendment or statement is on the standard form prescribed by the secretary of state department and is $10 if the amendment or statement is not on the standard form or if additional pages are attached to the standard form.

AB150, s. 6454 Section 6454. 409.404 (1) (b) of the statutes is amended to read:

AB150,2121,8 409.404 (1) (b) (title) Requirement for filing termination statement with the office of secretary of state department of financial institutions. Except as provided in par. (c), if a financing statement is filed with the office of the secretary of state department, then within one month or within 10 days following written demand by the debtor after there is no outstanding secured obligation and no commitment to make advances, incur obligations or otherwise give value, the secured party must file with the office of the secretary of state department a termination statement to the effect that the secured party no longer claims a security interest under the financing statement, which shall be identified by file number. A termination statement signed by a person other than the secured party of record must be accompanied by a separate written statement of assignment signed by the secured party of record complying with s. 409.405 (2), including payment of the required fee.

AB150, s. 6455 Section 6455. 409.404 (1) (c) (intro.) of the statutes is amended to read:

AB150,2121,13 409.404 (1) (c) (title) Exceptions to requirement for filing termination statement with the office of the secretary of state department of financial institutions. (intro.) No termination statement needs to be filed with the office of the secretary of state department pursuant to par. (b) if:

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

AB150,2121,24 409.404 (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, s. 6457 Section 6457. 409.404 (3) (b) of the statutes is amended to read:

AB150,2122,5 409.404 (3) (b) (title) Fees for filing a termination statement with the office of the secretary of state department of financial institutions. There is no fee for a termination statement which is filed with the office of the secretary of state department and there is no fee for indexing any name in connection with the termination process.

AB150, s. 6458 Section 6458. 409.405 (1) of the statutes, as affected by 1993 Wisconsin Act 452, is amended to read:

AB150,2122,24 409.405 (1) An original financing statement may disclose an assignment of a security interest in the collateral described in the financing statement by indication in the financing statement of the name and address of the assignee or by an assignment itself or a copy thereof on the face or back of the statement. On presentation to the filing officer of such a financing statement the filing officer shall mark the same as provided in s. 409.403 (4). The fee for filing, indexing and stamping a copy furnished by the secured party to show the date and place of filing for an original financing statement so indicating an assignment is $8 if the statement is on the standard form prescribed by the secretary of state department and is $16 if the statement is not on the standard form or if additional pages are attached to the standard form. The fee for filing an original financing statement indicating an assignment and subject to s. 409.402 (5) is $10 if the statement is on the standard form and is $20 if the statement is not on the standard form or if additional pages are attached to the standard form. A register of deeds shall forward $3 to the office of the secretary of state department for each original financing statement indicating an assignment of a security interest that is filed with the office of the register of deeds.

AB150, s. 6459 Section 6459. 409.405 (2) of the statutes, as affected by 1993 Wisconsin Act 452, is amended to read:

AB150,2124,2 409.405 (2) A secured party may assign of record all or part of his or her rights under a financing statement by the filing in the place where the original financing statement was filed of a separate written statement of assignment signed by the secured party of record and setting forth the name of the secured party of record and the debtor, the file number and the date of filing of the financing statement and the name and address of the assignee and containing a description of the collateral assigned. A copy of the assignment is sufficient as a separate statement if it complies with the preceding sentence. On presentation to the filing officer of such a separate statement, the filing officer shall mark such separate statement with the date and hour of the filing. The officer shall note the assignment on the index of the financing statement, or in the case of a fixture filing, or a filing covering timber to be cut, or covering minerals or the like, including oil and gas, or accounts subject to s. 409.103 (5), the officer shall index the assignment under the name of the assign or as grantor and, to the extent that the law of this state provides for indexing the assignment of a mortgage under the name of the assignee, the officer shall index the assignment of the financing statement under the name of the assignee. The fee for filing, indexing and furnishing filing data about such a separate statement of assignment is $5 if the statement is on the standard form prescribed by the secretary of state department and is $10 if the statement is not on the standard form or if additional pages are attached to the standard form. A register of deeds shall forward $3 to the office of the secretary of state department for each statement of assignment filed with the office of the register of deeds. Notwithstanding this subsection, an assignment of record of a security interest in a fixture contained in a mortgage effective as a fixture filing under s. 409.402 (6) may be made only by an assignment of the mortgage in the manner provided by the law of this state other than chs. 401 to 411.

AB150, s. 6460 Section 6460. 409.406 of the statutes, as affected by 1993 Wisconsin Act 452, is amended to read:

AB150,2124,21 409.406 Release of collateral; duties of filing officer; fees. A secured party of record may by his or her signed statement release all or a part of any collateral described in a filed financing statement. The statement of release is sufficient if it contains a description of the collateral being released, the name and address of the debtor, the name and address of the secured party, and the file number of the financing statement. A statement of release signed by a person other than the secured party of record must be accompanied by a separate written statement of assignment signed by the secured party of record and complying with s. 409.405 (2), including payment of the required fee. Upon presentation of such a statement of release to the filing officer, the officer shall mark the statement with the hour and date of filing and shall note the same upon the margin of the index of the filing of the financing statement. The fee for filing and noting such a statement of release is $5 if the statement is on the standard form prescribed by the secretary of state department and is $10 if the statement is not on the standard form or if additional pages are attached to the standard form. A register of deeds shall forward $3 to the office of the secretary of state department for each statement of release filed with the office of the register of deeds.

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

AB150,2125,2 409.407 (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, s. 6462 Section 6462. 409.407 (2) (c) of the statutes, as created by 1995 Wisconsin Act .... (this act), is amended to read:

AB150,2125,9 409.407 (2) (c) For providing any service under par. (a) or (b) in an expeditious manner, the secretary of state department 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, s. 6463 Section 6463. 409.409 of the statutes is amended to read:

AB150,2125,15 409.409 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, s. 6464 Section 6464. 409.410 (1) of the statutes is amended to read:

AB150,2125,20 409.410 (1) The office of the secretary of state department and the office of each register of deeds in this state shall establish and maintain at least one computer terminal allowing the direct entry into permanent computer storage and the direct retrieval from permanent computer storage of information under sub. (2).

AB150, s. 6465 Section 6465. 409.410 (2) of the statutes is amended to read:

AB150,2126,3 409.410 (2) Beginning 30 days after notification by the secretary of state department, each filing officer shall enter all information contained in all financing statements, amendments, termination statements, continuation statements, statements of assignment and statements of release submitted for filing, indexing or marking under ss. 409.401 to 409.408, including the date and time of filing these statements or amendments, into permanent computer storage by means of a computer terminal established and maintained under sub. (1).

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

AB150,2126,7 422.501 (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, s. 6467 Section 6467. 422.505 (1) (d) of the statutes is amended to read:

AB150,2126,11 422.505 (1) (d) The credit services organization's principal business address and the name and address of its agent in this state, other than the secretary of state department of revenue, who is authorized to receive service of process.

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

AB150,2126,17 422.505 (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 DEPARTMENT OF FINANCIAL INSTITUTIONS at .... (insert address)."

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

AB150,2126,20 426.103 Administrator. "Administrator" means the commissioner of banking (s. 220.02) department of financial institutions.

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

AB150,2127,3 426.104 (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 of banking department of financial institutions under s. 220.14 and shall include:

AB150, s. 6471 Section 6471. 426.110 (4) (b) of the statutes is amended to read:

AB150,2127,9 426.110 (4) (b) Such notice shall be in writing and shall be sent by certified or registered mail, return receipt requested, to such person at the place where the transaction occurred, such person's principal place of business within this state, or, if neither will effect actual notice, the office of the secretary of state of this state department of revenue.

AB150, s. 6472 Section 6472. 426.202 (3) of the statutes is amended to read:

AB150,2127,14 426.202 (3) A licensee under ss. 138.09, 138.12, 218.01, 218.04 and 218.11 and ch. 186 shall receive a credit for the amount of fees paid to the commissioner of banking department of financial institutions or the commissioner office of credit unions under each of those sections for the fees in sub. (1).

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

AB150,2127,18 440.05 (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, s. 6474 Section 6474. 440.05 (2) of the statutes is amended to read:

AB150,2127,24 440.05 (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, s. 6475 Section 6475. 440.05 (6) of the statutes is amended to read:

AB150,2128,3 440.05 (6) Apprentice, journeyman, student or other temporary credential or limited permit, granted pending completion of education, apprenticeship or examination requirements: $10.

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

AB150,2128,6 440.05 (7) Replacement of lost credential, name or address change on credential, issuance of duplicate credential or transfer of credential: $5 $10.

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

AB150,2128,10 440.055 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.

AB150,2128,16 (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 care 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).

AB150,2128,18 (3) The department may contract for services relating to the payment of fees by credit card under this section.

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

AB150,2128,22 440.08 (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, 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:

AB150,2129,3 440.08 (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:

****Note: This is reconciled s. 440.08 (2) (a) (intro.). This Section has been affected by drafts with the following LRB numbers: 0566/3 and 0567/1.

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

AB150,2129,6 440.08 (2) (a) 1. Accountant, certified public: January 1 of each even-numbered year; $44 $47.

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

AB150,2129,9 440.08 (2) (a) 2. Accountant, public: January 1 of each even-numbered year; $36 $41.

AB150, s. 6482 Section 6482. 440.08 (2) (a) 3. of the statutes is amended to read: