AB150-engrossed,1490,65
138.055
(4) (a) The
commissioner
division of savings and loan, if the lender is
6a savings and loan association or savings bank;
AB150-engrossed,1490,98
138.055
(4) (b) The
commissioner
office of credit unions, if the lender is a credit
9union;
AB150-engrossed,1490,1111
138.055
(4) (d) The
commissioner
division of banking for all other lenders.
AB150-engrossed,1490,1413
138.056
(1) (a) 4. a. The
commissioner
division of savings and loan, if the lender
14is a savings and loan association or savings bank;
AB150-engrossed,1490,1716
138.056
(1) (a) 4. b. The
commissioner
office of credit unions, if the lender is a
17credit union;
AB150-engrossed,1490,1919
138.056
(1) (a) 4. d. The
commissioner
division of banking for all other lenders.
AB150-engrossed,1491,721
138.09
(1) Before any person may do business under this section or charge the
22interest authorized by sub. (7) and before any creditor other than a bank, savings
23bank, savings and loan association or credit union may assess a finance charge on
24a consumer loan in excess of 18% per
annum, such
year, that person shall first obtain
25a license from the commissioner of banking. Applications for
such a license shall be
1in writing and upon forms provided for this purpose by the commissioner.
Every such 2An applicant at the time of making
such an application shall pay to the commissioner
3a
nonrefundable $300 fee
of $100 for investigating the application and
the sum of
4$200 as an a $500 annual license fee for the period terminating on the last day of the
5current calendar year. If the cost of the investigation exceeds
$100 $300, the
6applicant shall upon demand of the commissioner pay to the commissioner the
7amount by which the cost of the investigation exceeds the
$100 nonrefundable fee.
AB150-engrossed, s. 4158
8Section
4158. 138.09 (1) of the statutes, as affected by 1995 Wisconsin Act ....
9(this act), is renumbered 138.09 (1m) and amended to read:
AB150-engrossed,1491,2110
138.09
(1m) Before any person may do business under this section or charge
11the interest authorized by sub. (7) and before any creditor other than a bank, savings
12bank, savings and loan association or credit union may assess a finance charge on
13a consumer loan in excess of 18% per year, that person shall first obtain a license from
14the
commissioner of banking division. Applications for a license shall be in writing
15and upon forms provided for this purpose by the
commissioner division. An
applicant
16at the time of making an application shall pay to the
commissioner division a
17nonrefundable $300 fee for investigating the application and a $500 annual license
18fee for the period terminating on the last day of the current calendar year. If the cost
19of the investigation exceeds $300, the applicant shall upon demand of the
20commissioner division pay to the
commissioner division the amount by which the
21cost of the investigation exceeds the nonrefundable fee.
AB150-engrossed,1491,2323
138.09
(1d) In this section, "division" means the division of banking.
AB150-engrossed,1492,12
1138.09
(2) The
commissioner
division may also require the applicant to file
2with the
commissioner division, and to maintain in force, a bond in which the
3applicant shall be the obligor, in a sum not to exceed $5,000 with one or more
4corporate sureties licensed to do business in Wisconsin, whose liability as such
5sureties shall not exceed the sum of $5,000 in the aggregate, to be approved by the
6commissioner division, and such bond shall run to the state of Wisconsin for the use
7of the state and of any person or persons who may have a cause of action against the
8obligor of the bond under the provisions of this section. Such bonds shall be
9conditioned that the obligor will conform to and abide by each and every provision
10of this section, and will pay to the state or to any person or persons any and all moneys
11that may become due or owing to the state or to such person or persons from the
12obligor under and by virtue of the provisions of this chapter.
AB150-engrossed,1492,2314
138.09
(3) (a) Upon the filing of such application and the payment of such fee,
15the
commissioner division shall investigate the relevant facts, and if the
16commissioner division shall find that the character and general fitness and the
17financial responsibility of the applicant, and the members thereof if the applicant is
18a partnership, limited liability company or association, and the officers and directors
19thereof if the applicant is a corporation, warrant the belief that the business will be
20operated in compliance with this section the
commissioner division shall thereupon
21issue a license to said applicant to make loans in accordance with the provisions of
22this section. If the
commissioner division shall not so find,
he or she the division shall
23deny such application.
AB150-engrossed,1493,4
1138.09
(3) (b) Every license shall remain in force and effect until suspended or
2revoked in accordance with this section or surrendered by the licensee, and every
3licensee shall, on or before each December 10, pay to the
commissioner division the
4annual license fee for the next succeeding calendar year.
AB150-engrossed,1493,116
138.09
(3) (c) Such license shall not be assignable and shall permit operation
7under it only at or from the location specified in the license at which location all loans
8shall be consummated, but this provision shall not prevent the licensee from making
9loans under this section which are not initiated or consummated by face to face
10contact away from the licensed location if permitted by the
commissioner division in
11writing or by rule or at an auction sale conducted or clerked by a licensee.
AB150-engrossed,1493,2013
138.09
(3) (d) A separate license shall be required for each place of business
14maintained by the licensee. Whenever a licensee shall change the address of its place
15of business to another location within the same city, village or town the licensee shall
16at once give written notice thereof to the
commissioner, who division, which shall
17replace the original license with an amended license showing the new address,
18provided the location meets with the requirements of par. (e). No change in the place
19of business of a licensee to a different city, village or town shall be permitted under
20the same license.
AB150-engrossed,1494,722
138.09
(3) (e) A licensee may conduct, and permit others to conduct, at the
23location specified in its license, any one or more of the following businesses not
24subject to this section: A business engaged in making loans for business or
25agricultural purposes or exceeding $25,000 in principal amount except that all such
1loans having terms of 49 months or more are subject to sub. (7) (gm) 2. or 4., a
2business engaged in making first lien real estate mortgage loans under ss. 138.051
3to 138.06, a loan, finance or discount business under s. 218.01, or an insurance
4business, or a currency exchange under s. 218.05, or a seller of checks business under
5ch. 217; but merchandise shall not be sold at such location; and no other business
6shall be conducted at such location unless written authorization is granted the
7licensee by the
commissioner division.
AB150-engrossed,1494,199
138.09
(3) (f) Every licensee shall make an annual report to the
commissioner 10division for each calendar year on or before March 15 of the following year. Such
11report shall cover business transacted by the licensee under the provisions of this
12section and shall give such reasonable and relevant information as the
commissioner 13division may require. Such reports shall be made upon blanks furnished by the
14commissioner division and shall be signed and verified by the oath or affirmation of
15the licensee if an individual, one of the partners if a partnership, a member or
16manager if a limited liability company or an officer of the corporation or association
17if a corporation or association. Any licensee operating under this section shall keep
18the records affecting loans made pursuant to this section separate and distinct from
19the records of any other business of such licensee.
AB150-engrossed,1495,721
138.09
(4) (intro.) The
commissioner
division for the purpose of discovering
22violations of this chapter may cause an investigation to be made of the business of
23the licensee transacted under this section, and shall cause an investigation to be
24made of convictions reported to the
commissioner
division by any district attorney
25for violation by a licensee of this chapter. The place of business, books of account,
1papers, records, safes and vaults of said licensee shall be open to inspection and
2examination by the
commissioner or the commissioner's representative division for
3the purpose of such investigation and the
commissioner
division may examine under
4oath all persons whose testimony the
commissioner
division may require relative to
5said investigation. The
commissioner division may, upon notice to the licensee and
6reasonable opportunity to be heard, suspend or revoke such license after such
7hearing if:
AB150-engrossed,1495,119
138.09
(4) (a) The licensee has violated any provision of this chapter and if the
10commissioner division determines such violation justifies the suspension or
11revocation of the license;
AB150-engrossed,1495,1513
138.09
(4) (b) Any fact or condition exists which, if it had existed at the time
14of the original application for such license, would have warranted the
commissioner 15division in refusing to issue such license; and
AB150-engrossed,1496,617
138.09
(4a) Any licensee and any other person aggrieved by any order of the
18commissioner division has the right to appeal to the board of review under this
19section, provided a written notice of appeal is served upon the
commissioner division 20and upon the chairperson or secretary of the consumer credit review board under s.
21220.037 within 10 days from the date of the
commissioner's division's order. Upon
22service of a written notice of appeal as herein provided the review board shall hold
23a hearing within a reasonable time thereafter. The review board shall give the
24parties a written notice of the time and place said hearing will be held. The cost of
25any investigation or examination or hearing, including witness fees or any other
1expenses, conducted by the
commissioner
division or the review board shall be paid
2by the licensee so examined or by the appellant within 30 days after demand therefor
3by the
commissioner division, and the state may maintain an action for the recovery
4of such costs and expenses in any court of competent jurisdiction, except that no cost
5shall be charged an appellant by the review board unless the board sustains the
6commissioner division.
AB150-engrossed,1496,138
138.09
(6) (a) Except as provided in par. (b), the licensee shall keep such books
9and records in the licensee's place of business as in the opinion of the
commissioner
10of banking division will enable the
commissioner division to determine whether the
11provisions of this chapter are being observed. Every such licensee shall preserve the
12records of final entry used in such business, including cards used in the card system,
13if any, for a period of at least 2 years after the making of any loan recorded therein.
AB150-engrossed,1496,2115
138.09
(6) (b) A licensee may keep the books and records specified in par. (a)
16at a single location inside or outside of this state if the books and records are kept at
17a location licensed under this section. The licensee shall organize the books and
18records by the place of business where the records originated and shall keep the
19books and records separate from other records for business conducted at that
20location. Actual costs incurred by the
commissioner
division to examine books and
21records maintained outside of this state shall be paid by the licensee.
AB150-engrossed,1496,2523
138.09
(7) (bn) 4. Information regarding the amount of the maximum finance
24charge under subds. 1. and 2. for any month or calendar year quarter shall be
25available at the office of the
commissioner division.
AB150-engrossed,1497,32
138.09
(11) The
commissioner division may employ necessary examiners or
3other personnel from time to time and fix their compensation.
AB150-engrossed,1497,65
138.12
(1) (a)
"Commissioner"
"Division" means the
commissioner division of
6banking.
AB150-engrossed,1497,98
138.12
(1) (c) "Licensee" means an insurance premium finance company
9holding a license issued by the
commissioner division under this section.
AB150-engrossed,1497,1911
138.12
(2) (a) Any insurance company or agent defined in s. 628.02, any savings
12and loan association, savings bank, sales finance company, motor vehicle instalment
13seller, bank, trust company, licensed lender or credit union authorized to do business
14in this state, but such organizations, if otherwise eligible, are exempt from the
15licensing under this section, but subs. (9) to (12) and any rules promulgated by the
16commissioner division pertaining to such subsections shall be applicable to all
17premium finance transactions entered into by such organizations in this state if an
18insurance policy or any rights thereunder is made the security or collateral for
19repayment of the debt.
AB150-engrossed,1497,2321
138.12
(3) (b) The annual license fee is
$400 $500 and shall be paid to the
22commissioner. Licenses may be renewed May 1 of each year upon payment of the
23annual fee
of $400.
AB150-engrossed, s. 4179
24Section
4179
. 138.12 (3) (b) of the statutes, as affected by 1995 Wisconsin Act
25.... (this act), is amended to read:
AB150-engrossed,1498,3
1138.12
(3) (b) The annual license fee is $500 and shall be paid to the
2commissioner division. Licenses may be renewed May 1 of each year upon payment
3of the annual fee.
AB150-engrossed,1498,135
138.12
(3) (c) The person to whom the license or the renewal thereof is issued
6shall file sworn answers, subject to the penalties of perjury, to such interrogatories
7as the
commissioner division requires. The
commissioner division may, at any time,
8require the applicant fully to disclose the identity of all stockholders, partners,
9members, managers, officers and employes, and the
commissioner division may
10refuse to issue or renew a license in the name of any person if the
commissioner 11division is not satisfied that any officer, employe, stockholder, partner, member or
12manager thereof, who may materially influence the applicant's conduct, meets the
13standards of this section.
AB150-engrossed,1498,2115
138.12
(4) (a) Upon the filing of an application and the payment of the
license
16fee required fees under par. (am) 1., the commissioner shall make an investigation
17of each applicant and shall issue a license if the commissioner finds the applicant is
18qualified in accordance with this section. If the commissioner does not so find, the
19commissioner shall, within 30 days after the commissioner has received
such the 20application,
so notify the applicant and
, at the request of the applicant, give the
21applicant a full hearing.
AB150-engrossed, s. 4182
22Section
4182
. 138.12 (4) (a) of the statutes, as affected by 1995 Wisconsin Act
23.... (this act), is amended to read:
AB150-engrossed,1499,524
138.12
(4) (a) Upon the filing of an application and the payment of the required
25fees under par. (am) 1., the
commissioner division shall make an investigation of each
1applicant and shall issue a license if the
commissioner division finds the applicant
2is qualified in accordance with this section. If the
commissioner division does not so
3find, the
commissioner division shall, within 30 days after the
commissioner division 4has received the application, notify the applicant and, at the request of the applicant,
5give the applicant a full hearing.
AB150-engrossed,1499,97
138.12
(4) (am) 1. An applicant shall pay to the commissioner a nonrefundable
8$300 license investigation fee and a $500 annual license fee for the period ending on
9the next April 30.
AB150-engrossed,1499,1210
2. If the cost of the investigation exceeds $300, the applicant shall, upon
11demand of the commissioner, pay the amount by which the cost of the investigation
12exceeds the nonrefundable fee.
AB150-engrossed, s. 4184
13Section
4184. 138.12 (4) (am) of the statutes, as created by 1995 Wisconsin Act
14.... (this act), is amended to read:
AB150-engrossed,1499,1715
138.12
(4) (am) 1. An applicant shall pay to the
commissioner division a
16nonrefundable $300 license investigation fee and a $500 annual license fee for the
17period ending on the next April 30.
AB150-engrossed,1499,2018
2. If the cost of the investigation exceeds $300, the applicant shall, upon
19demand of the
commissioner division, pay the amount by which the cost of the
20investigation exceeds the nonrefundable fee.
AB150-engrossed,1499,2322
138.12
(4) (b) (intro.) The
commissioner division shall issue or renew a license
23when the
commissioner division is satisfied that the person to be licensed:
AB150-engrossed,1500,13
1138.12
(5) (b) Before the
commissioner division revokes, suspends or refuses
2to renew the license of any premium finance company, the
commissioner division 3shall give the company an opportunity to be fully heard and to introduce evidence
4in the company's behalf. In lieu of revoking or suspending the license for any of the
5causes enumerated in this subsection, after hearing, the
commissioner division may
6subject the premium finance company to a penalty of not more than $200 for each
7offense when in the
commissioner's division's judgment the
commissioner division 8finds that the public interest would not be harmed by the continued operation of such
9company. The amount of any penalty under this paragraph shall be paid by the
10company to the
commissioner division for the use of the state. At any hearing under
11this subsection, the
commissioner division may administer oaths to witnesses.
12Anyone testifying falsely, after having been administered the oath, shall be subject
13to the penalty of perjury.
AB150-engrossed,1500,1615
138.12
(5) (c) Any action of the
commissioner division in refusing to issue or
16renew a license shall be subject to review under subch. III of ch. 227.
AB150-engrossed,1501,218
138.12
(6) (a) Every licensee shall maintain records of its premium finance
19transactions and the records shall be open to an examination and investigation by
20the
commissioner division. The
commissioner division may make an examination of
21the books, records and accounts of any licensee as the
commissioner division deems
22necessary. The
commissioner division shall determine the cost of an examination
23and that cost shall be assessed against and paid by the licensee so examined. The
24commissioner division may, at any time, require any licensee to bring such records
1as the
commissioner division directs to the
commissioner's office division for
2examination.
AB150-engrossed,1501,64
138.12
(7) Rules and regulations. The
commissioner division may make and
5enforce such reasonable rules as are necessary to carry out this section, but such
6rules shall not be contrary to nor inconsistent with this section.
AB150-engrossed,1501,198
139.05
(7) (b) Such license shall be issued by the secretary
for the period of one
9year and must be renewed annually to persons who hold a valid certificate issued
10under s. 73.03 (50). The application for such license shall be verified and shall
11contain an agreement on the part of the brewer that the brewer shall observe all laws
12of this state relating to fermented malt beverages, and such other information and
13statements as the secretary may require. Any such brewer who has, directly or
14indirectly, violated any law of this state relating to fermented malt beverages shall
15not be entitled to such a license.
No fee shall be required for any such license. The
16secretary may require the applicant to furnish and file a bond to be approved by the
17secretary payable to the state in an amount not less than $1,000 nor more than
18$5,000 conditioned upon the faithful compliance by the applicant with the
19undertakings set forth in the application for the license.
AB150-engrossed,1502,2
21139.09 Registration. Every brewer, bottler, manufacturer, rectifier,
22wholesaler or retailer liable for payment of the occupational tax imposed in ss. 139.01
23to 139.25 shall
upon making application therefor be assigned a registration number
24by the secretary. The form of the application shall be prescribed by the secretary
1apply for a valid certificate under s. 73.03 (50). The secretary shall assign the person
2a registration number.
AB150-engrossed,1502,54
139.31
(1) (a) On cigarettes weighing not more than 3 pounds per thousand,
519 21.5 mills on each cigarette.
AB150-engrossed,1502,87
139.31
(1) (b) On cigarettes weighing more than 3 pounds per thousand,
38 43 8mills on each cigarette.