SB176: Bill Text

SB176,130,16 190.06 (1) Any railroad corporation existing under the laws of this state, or by consolidation under said laws and the laws of other states, may consolidate with any other railroad corporation, and possess all of the powers, franchises and immunities, and be subject to all the liabilities and restrictions of railroad corporations generally, and such, in addition, as the combining corporations peculiarly possessed or were subject to at the time of consolidation. Articles of consolidation shall be approved by each corporation, by a vote of a majority of the stock at an annual meeting or at a special meeting called for that purpose or by the consent in writing of the holders of a majority of the stock annexed to such articles; and such articles, with a copy of the records of such approval or such consent and accompanied by lists of the stockholders and the number of shares held by each, duly certified by their respective presidents and secretaries, shall be filed for record with the department of financial institutions secretary of state before any such consolidation shall have validity or effect.

SB176, s. 453 Section 453. 190.11 (1) of the statutes is amended to read:

SB176,130,23 190.11 (1) Every conveyance or lease, deed of trust, mortgage or satisfaction thereof made by any railroad corporation shall be executed and acknowledged in the manner in which conveyances of real estate by corporations are required to be to entitle the same to be recorded, and shall be filed with the department of financial institutions in the office of the secretary of state, which shall endorse thereon "filed" and the date of filing.

SB176, s. 454 Section 454. 190.11 (3) of the statutes is amended to read:

SB176,131,2 190.11 (3) The department of financial institutions secretary of state shall collect a fee of $1 per page filed under sub. (1).

SB176, s. 455 Section 455. 190.11 (4) of the statutes is amended to read:

SB176,131,8 190.11 (4) The department of financial institutions secretary of state shall collect a fee at the rate under s. 77.22 and, on or before the 15th day of the month after the fee is collected, shall remit that fee to the department of administration for deposit in the general fund. Sections 77.21, 77.22 and 77.25 to 77.27 apply to the fee under this subsection.

SB176, s. 456 Section 456. 191.10 (1) of the statutes is amended to read:

SB176,131,22 191.10 (1) Issuance, filing, recording, condemnation. If the office of the commissioner of railroads finds that the proposed railroad would be a public convenience and that a necessity requires its construction, the office of the commissioner of railroads shall enter an order to that effect and issue to the applicant a certificate that public convenience and a necessity require the construction of the railroad as proposed. The certificate shall be filed in the office of the department of financial institutions secretary of state and the department of financial institutions secretary of state shall approve the map showing the route of the railroad. The applicant shall record the map certified by the office of the commissioner of railroads in the office of the register of deeds in each county in which the railroad shall be located. The filing of the certificate with the department of financial institutions secretary of state and the recording of the map, as above provided, are conditions precedent to the right of the applicant to institute condemnation proceedings.

SB176, s. 457 Section 457. 192.71 of the statutes is amended to read:

SB176,133,10 192.71 Lands may be sold; proceedings if terms of grant not complied with. Any railroad corporation upon which any lands granted to this state shall have been conferred to aid in the construction of any railroad may sell, assign and transfer the lands so conferred upon it or any portion thereof to any other railroad corporation which shall by law have the right to construct a railroad along and upon the line or any portion of the line upon which such lands are applicable under the grant of this state upon such terms and conditions as it shall fix; provided, that the corporation receiving such lands shall be bound to construct the part of the line of railroad to aid in the construction of which the lands were granted to this state, to which the assigned lands are applicable according to the terms of the grant by congress, and to comply fully with all conditions and requirements contained in the act in and by which the state conferred said lands upon said corporation. The terms and conditions of every such transfer shall be embodied in an agreement in writing, which shall be recorded with the department of financial institutions secretary of state; and provided further, that no such transfer or assignment shall be of any force or effect until two-thirds of the full-paid stockholders of the corporation making the same shall have assented in writing thereto and until such assent shall have been filed with the department of financial institutions secretary of state. Whenever any grant of lands shall have been or shall hereafter be made to any corporation to aid in the construction of a railroad upon condition that such road or any portion thereof shall be completed within the period of time or times fixed or limited by the act or acts making such grant or grants or by any act or acts amendatory thereof, and such corporation shall have failed or shall hereafter fail to complete such railroad or any part or portions thereof within the time or times fixed or limited by such act or acts, it shall be the duty of the attorney general of the state to immediately institute, if the legislature shall not have revoked said grant, proceedings against such corporation in the supreme court of the state to ascertain judicially the facts in the premises, and if it shall appear that such corporation has failed to complete its railway or any portion thereof within the time limited by said act or acts, or has otherwise committed a breach of the condition or conditions upon which said grant was conferred upon it, or of the requirements of said act, judgment shall be entered in behalf of the state forfeiting, vacating and setting aside such grant or grants and annulling all rights and interest of such corporation in and to all lands granted to it and not fully earned and restoring such lands to the state, and such corporation shall thereafter be barred and foreclosed of all rights and interests in or to the lands so adjudged to be forfeited and restored to the state, and of all right to in any manner thereafter acquire the same.

SB176, s. 458 Section 458. 218.165 (1) of the statutes is amended to read:

SB176,133,17 218.165 (1) The importation of a primary housing unit for sale in this state by an out-of-state manufacturer is deemed an irrevocable appointment by that manufacturer of the department of financial institutions secretary of state to be that manufacturer's true and lawful attorney upon whom may be served all legal processes in any action or proceeding against such manufacturer arising out of the importation of such primary housing unit into this state.

SB176, s. 459 Section 459. 218.165 (2) of the statutes is amended to read:

SB176,134,2 218.165 (2) The department of financial institutions secretary of state upon whom processes and notices may be served under this section shall, upon being served with such process or notice, mail a copy by registered mail to the out-of-state manufacturer at the nonresident address given in the papers so served. The original shall be returned with proper certificate of service attached for filing in court as proof of service. The service fee shall be $4 for each defendant so served. The department of financial institutions secretary of state shall keep a record of all such processes and notices, which record shall show the day and hour of service.

SB176, s. 460 Section 460. 226.025 (3) of the statutes is amended to read:

SB176,134,15 226.025 (3) The appointment of the department of financial institutions secretary of state or the designation of a resident agent as attorney for the service of summons, notice, pleadings or process under s. 180.1507 shall be applicable only to actions or proceedings against the foreign corporations described in this section (unless such corporations have been admitted to this state for purposes other than those mentioned in this section) where the cause of action or proceeding arises out of transactions between such foreign corporations and public utilities operating in this state with which such foreign corporations are affiliated; and to actions or proceedings by or before the public service commission or office of the commissioner of railroads involving the transactions described in sub. (1), or involving the relation between such foreign corporations and public utilities operating in this state with which they are affiliated.

SB176, s. 461 Section 461. 226.14 (1) of the statutes is amended to read:

SB176,135,13 226.14 (1) No common law trust organized in this state, and no such trust formed or organized under or by authority of the laws of any state or foreign jurisdiction, for the purpose of doing business under a declaration of trust which shall have issued to five or more persons, or which shall sell or propose to sell beneficial interests, certificates or memberships therein, shall transact business, or acquire, hold or dispose of property in this state until the trustees named in said declaration of trust shall have caused to be filed with the department of financial institutions secretary of state the original declaration of trust, or a true copy thereof, and all amendments which may be made, verified as such by the affidavits of two of the signers thereof. A like verified copy of the declaration and such amendments, and a certificate of the department of financial institutions secretary of state, showing the date when such declaration was filed and accepted by the department of financial institutions secretary of state within thirty days of such filing and acceptance, shall be recorded with the register of deeds of the county in which such trust has its principal office or place of business in this state. No such trust shall transact business in this state until such declaration or such copy thereof be left for record. The register of deeds shall forthwith transmit to the department of financial institutions secretary of state a certificate stating the time when such copy was recorded and shall be entitled to a fee of twenty-five cents therefor, to be paid by the person presenting such papers for record. Upon receipt of such certificate the department of financial institutions secretary of state shall issue to said trustees a certificate of filing.

SB176, s. 462 Section 462. 226.14 (3) of the statutes is amended to read:

SB176,135,18 226.14 (3) Every such trust shall pay to the department of financial institutions secretary of state a filing fee of $50, and $15 for each subsequent amendment, together with a further fee of $1 for each $1,000 of beneficial certificates sold or offered for sale in this state.

SB176, s. 463 Section 463. 226.14 (4) (intro.) of the statutes is amended to read:

SB176,136,2 226.14 (4) (intro.) Every such trust shall file, accompanied by a filing fee of $5, with the department of financial institutions secretary of state a verified statement on or before each March 31, showing the names and addresses of each of the trustees; the nature of the business transacted during the preceding year; in what states such trust is operating; the amount and number of beneficial certificates sold in this state, or elsewhere; a statement as to the total amount of beneficial certificates outstanding. Any such report not filed before April 1, may be filed only upon payment to the department of financial institutions secretary of state of the following fees:

SB176, s. 464 Section 464. 226.14 (4) (c) of the statutes is amended to read:

SB176,136,7 226.14 (4) (c) If said report is not filed before the following January 1, the trust shall not be in good standing. Until it is restored to good standing the department of financial institutions secretary of state shall not accept for filing any documents respecting such trust except documents incident to its dissolution.

SB176, s. 465 Section 465. 226.14 (4) (d) of the statutes is amended to read:

SB176,136,13 226.14 (4) (d) The trust may be restored to good standing by delivering to the department of financial institutions secretary of state a current annual report conforming to the requirements of this section and by paying to the department of financial institutions secretary of state $10 for each calendar year or part thereof during which the trust has not been in good standing, not exceeding a total of $105.

SB176, s. 466 Section 466. 226.14 (5) of the statutes is amended to read:

SB176,136,22 226.14 (5) Every such trust shall file with the department of financial institutions secretary of state the name of a trustee or trustees, if they designate more than one, resident in this state upon whom service may be made for and on behalf of said trust; or if none of such trustees reside in this state, then a statement shall be duly filed by the trustees appointing the department of financial institutions secretary of state as the agent to accept service of process in this state, which appointment shall continue so long as such trust has any liabilities outstanding in this state.

SB176, s. 467 Section 467. 231.13 (2) of the statutes is amended to read:

SB176,137,14 231.13 (2) The authority shall pledge the revenues derived and to be derived from a project and other related health facilities, educational facilities or child care centers for the purposes specified in sub. (1), and additional bonds may be issued which may rank on a parity with other bonds relating to the project to the extent and on the terms and conditions provided in the bond resolution. Such pledge shall be valid and binding from the time when the pledge is made, the revenues so pledged by the authority shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the authority, irrespective of whether such parties have notice thereof. Neither the bond resolution nor any financing statement, continuation statement or other instrument by which a pledge is created or by which the authority's interest in revenues is assigned need be filed or recorded in any public records in order to perfect the lien thereof as against 3rd parties, except that a copy thereof shall be filed in the records of the authority and with the department of financial institutions secretary of state.

SB176, s. 468 Section 468. 406.104 (1) (c) of the statutes is amended to read:

SB176,137,19 406.104 (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 with the department of financial institutions secretary of state.

SB176, s. 469 Section 469. 409.105 (1) (dm) of the statutes is repealed.

SB176, s. 470 Section 470. 409.401 (1) (c) of the statutes is amended to read:

SB176,137,22 409.401 (1) (c) In all other cases, with the department secretary of state.

SB176, s. 471 Section 471. 409.401 (5) of the statutes is amended to read:

SB176,138,3 409.401 (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 with the department secretary of state. This filing constitutes a fixture filing under s. 409.313 as to the collateral described therein which is or is to become fixtures.

SB176, s. 472 Section 472. 409.402 (3m) of the statutes is amended to read:

SB176,138,9 409.402 (3m) The department secretary of state 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).

SB176, s. 473 Section 473. 409.403 (5) (a) 1. of the statutes is amended to read:

SB176,138,18 409.403 (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 department secretary of state 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.

SB176, s. 474 Section 474. 409.403 (5) (a) 2. of the statutes is amended to read:

SB176,138,25 409.403 (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 department secretary of state and is $10 if the amendment or statement is not on the standard form or if additional pages are attached to the standard form.

SB176, s. 475 Section 475. 409.403 (5) (a) 3. of the statutes is amended to read:

SB176,139,5 409.403 (5) (a) 3. A register of deeds shall forward $3 to the department secretary of state 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.

SB176, s. 476 Section 476. 409.403 (5) (b) (title) of the statutes is amended to read:

SB176,139,8 409.403 (5) (b) (title) Fees for filing with the department of financial institutions secretary of state.

SB176, s. 477 Section 477. 409.403 (5) (b) 1. of the statutes is amended to read:

SB176,139,14 409.403 (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 department secretary of state and is $16 if the statement is not on the standard form or if additional pages are attached to the standard form.

SB176, s. 478 Section 478. 409.403 (5) (b) 2. of the statutes is amended to read:

SB176,139,21 409.403 (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 department secretary of state and is $10 if the amendment or statement is not on the standard form or if additional pages are attached to the standard form.

SB176, s. 479 Section 479. 409.404 (1) (b) of the statutes is amended to read:

SB176,140,9 409.404 (1) (b) (title) Requirement for filing termination statement with the department of financial institutions secretary of state. Except as provided in par. (c), if a financing statement is filed with the department secretary of state, 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 department secretary of state 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.

SB176, s. 480 Section 480. 409.404 (1) (c) (intro.) of the statutes is amended to read:

SB176,140,14 409.404 (1) (c) (title) Exceptions to requirement for filing termination statement with the department of financial institutions secretary of state. (intro.) No termination statement needs to be filed with the department secretary of state pursuant to par. (b) if:

SB176, s. 481 Section 481. 409.404 (3) (b) of the statutes is amended to read:

SB176,140,19 409.404 (3) (b) (title) Fees for filing a termination statement with the department of financial institutions secretary of state. There is no fee for a termination statement which is filed with the department secretary of state and there is no fee for indexing any name in connection with the termination process.

SB176, s. 482 Section 482. 409.405 (1) of the statutes is amended to read:

SB176,141,12 409.405 (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 department secretary of state 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 department office of the secretary of state for each original financing statement indicating an assignment of a security interest that is filed with the office of the register of deeds.

SB176, s. 483 Section 483. 409.405 (2) of the statutes is amended to read:

SB176,142,13 409.405 (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 assignor 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 department secretary of state 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 department office of the secretary of state 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.

SB176, s. 484 Section 484. 409.406 of the statutes is amended to read:

SB176,143,6 409.406 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 department secretary of state 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 department office of the secretary of state for each statement of release filed with the office of the register of deeds.

SB176, s. 485 Section 485. 409.407 (2) (c) of the statutes is amended to read:

SB176,143,12 409.407 (2) (c) For providing any service under par. (a) or (b) in an expeditious manner, the department 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.

SB176, s. 486 Section 486. 409.410 of the statutes is amended to read:

SB176,143,18 409.410 Statewide lien system. (1) The department secretary of state 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).

SB176,143,25 (2) Beginning 30 days after notification by the department secretary of state, 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).

SB176, s. 487 Section 487. 409.411 of the statutes is amended to read:

SB176,144,5 409.411 Uniform commercial code statewide lien system council. (1) The uniform commercial code statewide lien system council shall advise the department of financial institutions secretary of state on the uniform commercial code statewide lien system under s. 409.410.

SB176,144,10 (2) The department secretary of state shall establish and maintain, in consultation with the uniform commercial code statewide lien system council, computer and any other services necessary to support the uniform commercial code statewide lien system under s. 409.410 but may not maintain a central filing system, as defined in 7 USC 1631 (c) (2), for farm products, as defined in 7 USC 1631 (c) (5).

SB176, s. 488 Section 488. 422.505 (1) (d) of the statutes is amended to read:

SB176,144,15 422.505 (1) (d) The credit services organization's principal business address and the name and address of its agent in this state, other than the department of financial institutions secretary of state, who is authorized to receive service of process.

SB176, s. 489 Section 489. 426.110 (4) (b) of the statutes is amended to read:

SB176,144,21 426.110 (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 department of financial institutions secretary of state.

SB176, s. 490 Section 490. 440.47 (5) of the statutes is amended to read:

SB176,145,15 440.47 (5) (title) Substitute service upon department of financial institutions secretary of state. A charitable organization, fund-raising counsel, professional fund-raiser or commercial coventurer that has its principal place of business outside of this state or is organized under laws other than the laws of this state and that is subject to this subchapter shall be considered to have irrevocably appointed the department of financial institutions secretary of state as its agent for the service of process or notice directed to the charitable organization, fund-raising counsel, professional fund-raiser or commercial coventurer or to any of its partners, principal officers or directors in an action or proceeding brought under this subchapter. Service of process or notice upon the department of financial institutions secretary of state shall be made by personally delivering to and leaving with the department of financial institutions office of the secretary of state a copy of the process or notice. That service shall be sufficient service if the department of financial institutions secretary of state immediately sends notice of the service and a copy of the process or notice to the charitable organization, fund-raising counsel, professional fund-raiser, commercial coventurer or other person to whom it is directed by registered mail, with return receipt requested, at the last address known to the department of financial institutions secretary of state.

SB176, s. 491 Section 491. 443.10 (6) of the statutes is amended to read:

SB176,145,20 443.10 (6) Roster. A roster showing the names and mailing addresses of all registered surveyors shall be prepared annually by the secretary and made available for purchase at cost, and a copy shall be placed on file with the department of financial institutions secretary of state.

SB176, s. 492 Section 492. 601.72 (1) (intro.) of the statutes is amended to read:

SB176,146,3 601.72 (1) General. (intro.) Under procedures specified in s. 601.73, the commissioner is by law constituted attorney, except in cases in which the proceeding is to be brought by the state against an insurer or intermediary other than a risk retention group or risk purchasing group, in which event the department of financial institutions secretary of state is by law constituted attorney, to receive service of summons, notices, orders, pleadings and all other legal process relating to any court or administrative agency in this state for all of the following:

SB176, s. 493 Section 493. 601.72 (2) of the statutes is amended to read:

SB176,146,10 601.72 (2) Appointment of attorney. Except as provided in sub. (2m), every licensed insurer by applying for and receiving a certificate of authority, every surplus lines insurer by entering into a contract subject to the surplus lines law, and every unauthorized insurer by doing an insurance business in this state, is deemed to have irrevocably appointed the commissioner and department of financial institutions secretary of state as the insurer's attorneys in accordance with sub. (1).

SB176, s. 494 Section 494. 601.72 (3) of the statutes is amended to read:

SB176,146,15 601.72 (3) Others affected. The commissioner and department of financial institutions secretary of state shall also be attorneys for the executors, administrators or personal representatives, receivers, trustees or other successors in interest of the persons specified in sub. (1).

SB176, s. 495 Section 495. 601.73 (1) of the statutes is amended to read:

SB176,146,19 601.73 (1) Requirements for effective service. Service upon the commissioner or department of financial institutions secretary of state under s. 601.72 is service on the principal, if:

SB176,146,21 (a) Two copies of the process are left in the hands or office of the commissioner or department of financial institutions secretary of state respectively; and