SB333,74,1310
184.10
(4) The department of financial institutions shall collect a fee of $15 for
11filing a statement appointing an agent to receive service of process, an amended and
12restated statement
, or a resignation
, except that the department of financial
13institutions, by rule, may specify a larger fee for documents filed in paper format.
SB333, s. 191
14Section
191. 185.48 (4) of the statutes is amended to read:
SB333,74,1715
185.48
(4) Any report not filed as required by sub. (3) may be filed only upon
16payment to the department of $26
or, if the report is filed in paper format, upon
17payment of such larger fee as the department prescribes by rule.
SB333, s. 192
18Section
192. 185.48 (6) of the statutes is amended to read:
SB333,74,2419
185.48
(6) The Except as otherwise provided in this subsection, the cooperative
20may be restored to good standing by delivering to the department a current annual
21report and by paying the $26 late filing fee plus $15 for each calendar year or part
22thereof during which it was not in good standing, not exceeding a total of $176.
The
23department, by rule, may specify a larger fee for the filing of an annual report in
24paper format.
SB333, s. 193
25Section
193. 185.83 (1) (intro.) of the statutes is amended to read:
SB333,75,2
1185.83
(1) (intro.)
The Except as provided under sub. (1m), the department
2shall charge and collect for:
SB333, s. 194
3Section
194. 185.83 (1) (b) of the statutes is renumbered 185.83 (1) (b) (intro.)
4and amended to read:
SB333,75,95
185.83
(1) (b) (intro.) Filing an amendment to or restatement of the articles or
6articles of
merger, consolidation or division, $10,
plus $1.25 for each $1,000 of
7authorized stock not authorized at the time of the amendment, restatement,
8consolidation, or division, except that no fee may be collected for
an any of the
9following:
SB333,75,14
101. An amendment showing only a change of address resulting from the action
11of a governmental agency if there is no corresponding change in physical location and
12if 2 copies of the notice of the action are submitted to the department
; and an
13additional fee of $1.25 for each $1,000 of authorized stock not authorized at the time
14of amendment, restatement, merger,
consolidation or division.
SB333, s. 195
15Section
195. 185.83 (1) (b) 2. of the statutes is created to read:
SB333,75,1716
185.83
(1) (b) 2. An amendment filed to reflect only a change in the name of a
17registered agent.
SB333, s. 196
18Section
196. 185.83 (1) (bm) of the statutes is created to read:
SB333,75,1919
185.83
(1) (bm) Filing articles of merger, $30.
SB333, s. 197
20Section
197. 185.83 (1m) of the statutes is created to read:
SB333,75,2221
185.83
(1m) The department, by rule, may specify a larger fee for filing
22documents described in sub. (1) in paper format.
SB333, s. 198
23Section
198. 551.02 (1) of the statutes is renumbered 551.02 (1r).
SB333, s. 199
24Section
199. 551.02 (1g) of the statutes is created to read:
SB333,75,2525
551.02
(1g) "Accredited investor" has the meaning given in
17 CFR 230.501 (a).
SB333, s. 200
1Section
200. 551.23 (8) (g) of the statutes is amended to read:
SB333,76,72
551.23
(8) (g) An
individual accredited investor
, as defined by rule of the
3division, if the issuer reasonably believes immediately before the sale that the
4individual accredited investor, either alone or with the individual accredited
5investor's representative, has such knowledge and experience in financial and
6business matters as to be capable of evaluating the merits and risks of the
7prospective investment.
SB333, s. 201
8Section
201. 551.23 (10) of the statutes is amended to read:
SB333,76,159
551.23
(10) Any offer or sale of its securities by an issuer having its principal
10office in this state, if the aggregate number of persons holding directly or indirectly
11all of the issuer's securities, after the securities to be issued are sold, does not exceed
1215 25, exclusive of persons under sub. (8), if no commission or other remuneration
13is paid or given directly or indirectly for soliciting any person in this state, except to
14broker-dealers and agents licensed in this state, and if no advertising is published
15unless it has been permitted by the division.
SB333, s. 202
16Section
202. 551.23 (11) (a) of the statutes is amended to read:
SB333,76,2317
551.23
(11) (a) Any transaction pursuant to an offer directed by the offeror to
18not more than
10 25 persons in this state, excluding persons exempt under sub. (8)
19but including persons exempt under sub. (10), during any period of 12 consecutive
20months, whether or not the offeror or any of the offerees is then present in this state,
21if the offeror reasonably believes that all the persons in this state are purchasing for
22investment, and no commission or other remuneration is paid or given directly or
23indirectly for soliciting any person in this state other than those exempt by sub. (8).
SB333, s. 203
24Section
203. 551.31 (1) (d) of the statutes is created to read:
SB333,77,6
1551.31
(1) (d) An agent who is acting exclusively as an agent representing an
2issuer of securities and who makes offers and sales of the issuer's securities in
3transactions that are exempt under s. 551.23 (8) (g) or under a rule of the division
4promulgated under s. 551.23 (18) that specifically exempts transactions involving
5accredited investors and that is based on a model accredited investor exemption
6adopted by the North American Securities Administrators Association.
SB333, s. 204
7Section
204. 611.72 (2) of the statutes is amended to read:
SB333,77,128
611.72
(2) Approval required. No proposed plan of merger under s. 180.1101
, 9or 180.1104
or 180.1107 or other plan for acquisition of control may be submitted to
10the shareholders of any domestic stock insurance corporation or its parent insurance
11holding corporation participating in the transaction or executed unless it has been
12approved by the commissioner.
SB333,77,1714
(1) In the schedule under section 20.005 (3) of the statutes for the appropriation
15to the department of financial institutions under section 20.144 (1) (g) of the statutes,
16as affected by the acts of 2001, the dollar amount is increased by $821,600 for fiscal
17year 2002-03 to carry out the purpose for which the appropriation is made.
SB333,77,2019
(1) This act takes effect on the first day of the 6th month beginning after
20publication.