AB378,125,1614
165.76
(2) (b) 4. If subds. 1. to 3m. do not apply, the department of justice shall
15specify in its order the time and procedure for the person to provide the specimen
16under par. (a).
Note: 1995 Wis. Act 440 stated that it created s. 165.76 (2) (b) 4., but that provision
already existed in identical form except that Act 440 changed "3." to "3m." This treatment
is to clarify that the Act 440 version of s. 165.76 (2) (b) 4. replaces the previously existing
version.
Note: There is no conflict of substance.
Note: There is no conflict of substance.
AB378,126,96
167.10
(6m) (f) The department of
industry, labor and job development 7commerce may inspect at reasonable times the premises on which each person
8licensed under this subsection manufactures fireworks or devices listed under sub.
9(1) (e), (f) or (i) to (n).
Note: Inserts correct department name.
1995 Wis. Act 27 transferred the
enforcement of this section from the department of industry, labor and human relations
(DILHR) (now industry, labor and job development) to the department of development
(now commerce).
1995 Wis Act 330, which inserted the reference to DILHR, did not take
into account the treatment of s. 167.10 by Act 27.
Note: There is no conflict of substance.
AB378, s. 346
12Section
346. 178.06 (3) of the statutes is renumbered 178.06 (3) (intro.) and
13amended to read:
AB378,126,1614
178.06
(3) (intro.) Unless authorized by the other partners or unless they have
15abandoned the business, one or more but less than all
of the partners have no
16authority to
do any of the following:
AB378,126,1817
(a) Assign the partnership property in trust for creditors or on the assignee's
18promise to pay the debts of the partnership
;.
AB378,126,1919
(b)
dispose Dispose of the
good will goodwill of the business
;.
AB378,127,2
1(c)
do Perform any other act which would make it impossible to carry on the
2ordinary business of the partnership
;.
AB378,127,33
(d)
confess Confess a judgment
; or.
AB378,127,44
(e)
submit Submit a partnership claim or liability to arbitration or reference.
Note: Subdivides provision consistent with current style.
AB378,127,87
178.46
(1) (c) Contain the name of the drafter, if required by s.
14.38 (14) 182.01
8(3).
Note: 1995 Wis. Act 27 renumbered s. 14.38 (14) to be s. 182.01 (3) effective 7-1-96.
AB378,127,1911
180.0126
(1) If the department refuses to file a document received by
his or her
12office the department for filing, the domestic corporation or foreign corporation may
13appeal the refusal by filing a petition in circuit court to compel the department to file
14the document. The domestic corporation or foreign corporation shall file the petition
15in the circuit court for the county where the domestic corporation's or foreign
16corporation's principal office or, if none in this state, its registered office is or will be
17located. The domestic corporation or foreign corporation shall attach to the petition
18the document and any explanation by the department of the reasons for the refusal
19to file.
Note: Inserts correct word.
AB378, s. 349
20Section
349. 182.01 (3) (title) of the statutes is reenacted to read:
AB378,127,2121
182.01
(3) (title)
Name of drafter on documents.
Note: Corrects error in transcribing
1995 Wis. Act 27, section
53ad. The title was
inadvertently deleted.
AB378, s. 350
1Section
350. 182.025 (2) of the statutes is amended to read:
AB378,128,162
182.025
(2) Any foreign corporation licensed to transact any business in this
3state defined in ss. 76.02
(5b) (5) and 76.28 (1) and duly authorized to do so in
4accordance with the laws of the state of incorporation and by its charter may borrow
5money and execute its bonds or notes therefor; and to secure the payment of such
6bonds or notes to a fixed amount or in amounts to be from time to time determined
7by the board of directors may mortgage or trust deed any or all
of the property, rights,
8privileges and franchises that it may own or thereafter acquire in this state and may,
9in and by mortgage or deed of trust
, provide for the disposal of any of such property
10and the substitution of other property in its place. Every such mortgage or deed of
11trust may be recorded in the office of the register of deeds of the county designated
12by the corporation as its registered office in this state at the time of such recording
13and such record shall have the same effect as if such instrument were filed in the
14proper office as a chattel mortgage or financing statement and so remain until
15satisfied or discharged without any further affidavit, continuation statement or
16proceeding whatever.
Note: This bill renumbers s. 76.02 (5b) to s. 76.02 (5).
AB378, s. 351
17Section
351. 182.40 (1) of the statutes is amended to read:
AB378,128,2118
182.40
(1) The following government agencies are to be exempt from the
19payment of tolls: All armed forces of the United States including the Wisconsin
20national
guards guard and national guard units from other states; the Wisconsin
21state defense force; and civilian defense organizations.
Note: Corrects spelling.
AB378, s. 352
22Section
352. 183.0114 (2) (intro.) of the statutes is amended to read:
AB378,129,2
1183.0114
(2) (intro.) The
secretary of state department may not collect a fee
2for any of the following:
Note: 1995 Wis. Act 27 transferred filing and registration responsibility under ch.
183 from the secretary of state to the department of financial institutions.
AB378, s. 353
3Section
353. 186.098 (3) (title) of the statutes is created to read:
AB378,129,44
186.098
(3) (title)
Loan applications.
Note: The other subsections of s. 186.098 have titles.
AB378,129,87
186.11
(4) (c) A service corporation may be subject to audit by the
commissioner 8office of credit unions.
Note: 1995 Wis. Act 151 was intended to replace all references to the commissioner
of credit unions, effective 7-1-96. This reference was unintentionally retained.
AB378, s. 355
9Section
355. 186.113 (1m) (title) of the statutes is created to read:
AB378,129,1010
186.113
(1m) (title)
Limited service offices.
Note: The other subsections of s. 186.113 have titles.
AB378,129,2013
186.235
(15) (b) Witness fees shall be the same as fees under s. 814.67 (1) (b)
14and (c). The fees of witnesses who are called by the office in the interests of the state
15shall be paid by the state upon presentation of proper vouchers approved by the
16commissioner office of credit unions and charged to the appropriation under s.
20.141
17(1) 20.144 (2) (g). A witness subpoenaed by the office at the instance of a party other
18than the office shall not be entitled to payment of fees by the state unless the office
19certifies that the testimony was material to the purpose for which the subpoena was
20issued.
Note: 1995 Wis. Act 27 renumbered s. 20.141 (1) (g) to be s. 20.144 (2) (g) and
changed references to the "commissioner of credit unions" to the "office of credit unions",
all effective 7-1-96.
AB378,130,143
190.01
(2) The articles of incorporation and amendments thereto shall be filed
4with the department of
revenue financial institutions; in the case of articles, the
5department of
revenue financial institutions shall thereupon issue a certificate of
6incorporation and the corporation then has legal existence. The articles of
7incorporation or special charter of any railroad company may be amended by a
8majority vote of all the stock in the respects and for the purposes provided in s.
9180.1001. The fees for filing articles and amendments thereto are as provided in s.
10180.0122 (1) (a) and (m) except that the fees for filing an amendment which
11authorizes the issuance of redeemable preference shares for sale to the U.S.
12secretary of transportation under sections 505 and 506 of P.L.
94-210 is $15 for the
13amendment and an additional sum equal to $1 for each $100,000 or fraction thereof
14of par value redeemable preference shares authorized by the amendment.
Note: The governor's budget proposal provided for the transfer of corporate filings
to the department of revenue, but was changed to the department of financial institutions
as enacted in
1995 Wis. Act 27. That change inadvertently was not made to the treatment
of this provision by Act 27.
AB378,131,217
214.26
(2) (c) After 3 years of corporate existence, the board of directors may
18petition the division for authority to repay the incorporators, on a proportional basis,
19any unused portion remaining in the expense fund. If the division determines that
20the operations of the mutual savings bank at that point are of such degree as
so to
1enable the mutual savings bank to operate without the subsidy, the division may
2authorize repayment.
Note: Inserts correct word.
AB378,131,105
214.345
(5) (a) Subject to the approval of the division, a savings bank's bylaws
6shall provide for reasonable indemnification to its officers, directors and employes
7in connection with the faithful performance of their duties for the savings bank. For
8stock savings banks, the provisions shall be consistent with those under ss. 180.0850
9to 180.0859. For mutual savings banks, the provisions shall be consistent with those
10under ss. 215.512 to 215.525.
AB378,131,1511
(b) The provisions relating to the limited liability of directors under s. 180.0828,
12as they apply to a director of a corporation, apply to a director of a stock savings bank.
13 The provisions relating to the limited liability of directors and officers under s.
14215.525, as they apply to a director or officer of a mutual savings and loan
15association, apply to a director or officer of a mutual savings bank.
Note: 1995 Wisconsin Act 103, section 8, repeals and recreates s. 214.345
(5) effective on July 1, 1996. 1995 Wisconsin Act 103, section 9, repealed and
recreated s. 214.345 (5) effective on the day after publication of the act. The
section 8 treatment was intended to take effect on publication, to be replaced by
the section 9 treatment on July 1, 1996. This bill recreates the section 9
treatment.
AB378,132,318
214.65
(2) (b) The proposed sale is approved by the stockholders if it receives
19an affirmative vote from a majority of the total number of votes that are entitled to
20be cast. A proposal for the voluntary liquidation of the savings bank may be
21submitted to the stockholders at the same meeting or at any later meeting called for
1that purpose. A certified summary of proceedings setting forth the terms of the
2proposed sale, the form and timing of the notice given, the vote on the proposal and
3the total number of votes entitled to
be cast shall be filed with the division.
Note: Inserts missing words.
AB378,132,15
6214.825 Purposes of taking custody. The purposes of taking custody of a
7savings bank may include examination; production of an audited financial
8statement; reconstruction of books and records; conservation of assets; restoration
9of impaired capital; the making of any necessary or equitable adjustment, including
10changes in officers and management, considered necessary by the division under any
11plan of reorganization or liquidation; restructuring of the savings bank through a
12merger or formation of
a an interim institution; establishment of a conservatorship
13to operate and manage a savings bank as an ongoing concern until the grounds for
14custody and conservatorship are remedied; or the maturing of an obligation of the
15deposit insurance corporation.
Note: Inserts correct word.
AB378,132,2118
215.02
(6) (a) 3. For the purpose of comparing notes as to matters affecting an
19association with an examiner of
the a deposit insurance corporation or a federal
20regulatory agency as to any association whose savings accounts are insured by the
21deposit insurance corporation.
Note: Deletes unnecessary word consistent with the treatment of s. 215.02 (6) (a)
4. by
1995 Wis. Act 104.
AB378,133,173
215.32
(6) (a)
Notice, allowance and payment of claims. The special deputy
4commissioner shall publish a class 3 notice, under ch. 985, requiring all persons who
5have claims against the association, other than savers whose claims are shown in the
6records of the association, to file proof of their claims at a place and by a date not
7earlier than 30 days after the last insertion of the notice. The special deputy shall
8mail a copy of the notice to all persons, at their last-known addresses, who appear
9as creditors upon the books of the association. Proof of publication and service of the
10notice shall be filed with the clerk of circuit court. A claim, other than that of a saver
11whose claim is shown on the records of the association, for which no proof of claim
12is filed by the date fixed in the notice is barred. Savers whose claims are shown in
13the records of the association need not file proof of their claims. Any interested party
14may file written objections to any claim with the special deputy. The special deputy
15may reject any claim, including a claim of a saver. After notice by registered mail of
16rejection, the claim is barred unless the claimant commences an action within 90
17days after the date of mailing of the notice of rejection.
AB378,133,1918NOTE: The stricken word should have been deleted by
1995 Wis. Act 27 which
19eliminated the office of the commissioner of savings and loan.
AB378,133,2222
215.32
(6) (h) (title)
Transfer of residual assets to commissioner division
.
AB378,133,2523NOTE: The stricken word should have been deleted by
1995 Wis. Act 27 which
24eliminated the office of the commissioner of savings and loan and replaced it with the
25division of savings and loan in the department of financial institutions.
AB378, s. 365
26Section
365. 217.12 (2) of the statutes is amended to read:
AB378,134,3
1217.12
(2) Tokens. No licensee shall issue
script scrip or tokens other than
2checks to be used in lieu of money for the purchase of goods or services from any
3enterprise.
Note: Inserts correct word.
AB378,134,166
218.05
(4) (b) If the division
shall finds that the conditions under par. (a) 1. to
73. are not met, the division shall not issue the license and shall notify the applicant
8of the denial, retaining the investigation fee to cover the cost of investigating the
9applicant. The division shall approve or deny every application within 30 days from
10the filing thereof. No application shall be denied unless the applicant has had notice
11of a hearing on the application and an opportunity to be heard thereon. If the
12application is denied, the division shall, within 20 days thereafter, prepare and keep
13on file with the division a written order of denial which shall contain the division's
14findings with respect thereto and the reasons supporting the denial. The division
15shall mail a copy of the order of denial to the applicant at the address set forth in the
16application, within 5 days after the filing of the order.
AB378,134,2319
220.04
(1) (b) In lieu of any examination required to be made by the division,
20the division may accept any examination that may have been made of any bank or
21trust company bank within a reasonable period by a bank supervisory agency, as
22defined in s.
221.59 221.0901 (2) (d), if a copy of the examination is furnished to the
23division.
Note: Inserts correct cross-reference. Chapter 221 was repealed and recreated by
1995 Wis. Act 336. The definition of "bank supervisory agency" now appears at s.
221.0901 (2) (d).
AB378,135,73
221.0216
(4) Liability of holders of preferred stock. Preferred stock of a
4bank is not subject to
a an assessment to restore an impairment in the capital of the
5bank. A holder of preferred stock of a bank is not individually responsible, in the
6shareholder's capacity as a shareholder, for any debt, contract or acknowledgment
7of a bank.