SB44: Bill Text

SB44,921,8 215.32 (3) Employment of counsel; retention of officers and employees of association. The division On behalf of the division, the department of administration may employ necessary counsel and the division may employ experts in a liquidation under this section and may retain any officer or employee of the association.

SB44, s. 2341 Section 2341. 215.33 (3) (b) 2. of the statutes is amended to read:

SB44,921,14 215.33 (3) (b) 2. The accounts of the association are insured by the deposit insurance corporation or any other insurer acceptable to the division, or that adequate and sufficient securities have been deposited with the state treasurer secretary of administration to assure that the association will meet its obligations to the residents of this state.

SB44, s. 2342 Section 2342. 215.40 (18) of the statutes is amended to read:

SB44,921,19 215.40 (18) Appeal by applicants after being denied certificate of authority. If the division refuses to grant a certificate of authority to organize an association, and the applicants feel aggrieved thereby, they may appeal to the review board to review the division's determination under s. 215.04 (1) (d) (b) and (4).

SB44, s. 2343 Section 2343. 220.02 (2) (e) and (f) of the statutes are created to read:

SB44,921,21 220.02 (2) (e) Savings banks under ch. 214.

SB44,921,22 (f) Savings and loan associations under ch. 215.

SB44, s. 2344 Section 2344. 220.02 (3) of the statutes is amended to read:

SB44,922,6 220.02 (3) It is the intent of sub. (2) to give the division jurisdiction to enforce and carry out all laws relating to banks or banking in this state, including those relating to state banks, savings banks, savings and loan associations, and trust company banks, and also all laws relating to small loan companies or other loan companies or agencies, finance companies, motor vehicle dealers, adjustment service companies, community currency exchanges, and collection agencies and those relating to sellers of checks under ch. 217, whether doing business as corporations, individuals, or otherwise, but to exclude laws relating to credit unions.

SB44, s. 2345 Section 2345. 220.08 (4) of the statutes is amended to read:

SB44,922,24 220.08 (4) The division may appoint one or more special deputies, as agent or agents, to assist the division in the duty of reorganization, consolidation, liquidation and distribution, the certificate of appointment to be filed with the division and a certified copy in the office of the clerk of the circuit court for the county in which such bank or banking corporation is located. Such special deputies may execute, acknowledge and deliver any and all deeds, assignments, releases or other instruments necessary and proper to effect any sale and transfer or encumbrance of real estate or personal property after the same has been approved by the division, and an order obtained from the circuit court of the county in which the bank concerned is located. The division may from time to time authorize a special deputy to perform such duties connected with such reorganization, consolidation, liquidation and distribution as the division deems proper. The division On behalf of the division, the department of administration may employ such counsel and the division may procure such expert assistance and advice as may be necessary in the reorganization, consolidation, liquidation and distribution of the assets of such banks or banking corporations. The division may retain such of the officers or employees of such banks or banking corporations as necessary.

SB44, s. 2346 Section 2346. 221.0303 (2) of the statutes is amended to read:

SB44,923,17 221.0303 (2) Operation and acquisition of customer bank communications terminals. A bank may, directly or indirectly, acquire, place , and operate, or participate in the acquisition, placement, and operation of, at locations other than its main or branch offices, customer bank communications terminals, in accordance with rules established by the division. The rules of the division shall provide that any such customer bank communications terminal shall be available for use, on a nondiscriminatory basis, by any state or national bank and by all customers designated by a bank using the terminal. This subsection does not authorize a bank which has its principal place of business outside this state to conduct banking business in this state. The customer bank communications terminals also shall be available for use, on a nondiscriminatory basis, by any credit union, savings and loan association, or savings bank, if the credit union, savings and loan association, or savings bank requests to share its use, subject to rules jointly established by the division of banking, and the office of credit unions and the division of savings institutions. The division by order may authorize the installation and operation of a customer bank communications terminal in a mobile facility, after notice and hearing upon the proposed service stops of the mobile facility.

SB44, s. 2347 Section 2347. 221.0320 (3) (a) of the statutes is amended to read:

SB44,923,20 221.0320 (3) (a) In this subsection, "local governmental unit" has the meaning given in s. 22.01 16.97 (7).

SB44, s. 2348 Section 2348. 221.0321 (5) of the statutes is amended to read:

SB44,924,5 221.0321 (5) Certain secured loans. A bank may make loans secured by assignment or transfer of stock certificates or other evidence of the borrower's ownership interest in a corporation formed for the cooperative ownership of real estate. Sections 846.10 and 846.101, as they apply to a foreclosure of a mortgage involving a one-family residence, apply to a proceeding to enforce the lender's rights in security given for a loan under this subsection. The division shall promulgate joint rules with the office of credit unions and the division of savings institutions that establish procedures for enforcing a lender's rights in security given for a loan under this subsection.

SB44, s. 2349 Section 2349. 223.02 (1) (intro.) of the statutes is amended to read:

SB44,924,9 223.02 (1) Indemnity fund deposit. (intro.) Deposit at least $100,000 with the state treasurer secretary of administration or the state treasurer's secretary's agent in accordance with the following provisions:

SB44, s. 2350 Section 2350. 223.02 (1) (b) of the statutes is amended to read:

SB44,924,17 223.02 (1) (b) The state treasurer secretary of administration or the state treasurer's secretary's agent shall pay over to the bank trust company the interest, dividends, or other income on deposit or may authorize the bank trust company to collect the interest, dividends, or other income. The state treasurer secretary of administration shall issue a certificate stating that a deposit has been made with the state treasurer secretary of administration or the state treasurer's secretary's agent in the manner provided in this section.

SB44, s. 2351 Section 2351. 223.02 (1) (c) of the statutes is amended to read:

SB44,924,25 223.02 (1) (c) The state treasurer secretary of administration or the state treasurer's secretary's agent shall hold the deposit as security for the faithful execution of any trust which may be lawfully imposed upon and accepted by the trust company bank. The cash or securities shall remain in the possession of the state treasurer secretary of administration or the state treasurer's secretary's agent until otherwise ordered by a court of competent jurisdiction, unless released pursuant to par. (d).

SB44, s. 2352 Section 2352. 223.02 (1) (d) of the statutes is amended to read:

SB44,925,6 223.02 (1) (d) The securities and cash deposited by a trust company bank may be released by the state treasurer secretary of administration or the state treasurer's secretary's agent and returned to the bank, if the division certifies to the state treasurer secretary of administration that the bank no longer exercises trust powers and that the division is satisfied that there are no outstanding trust liabilities.

SB44, s. 2353 Section 2353. 223.02 (1) (e) of the statutes is amended to read:

SB44,925,13 223.02 (1) (e) The state treasurer secretary of administration may designate a banking corporation, having an authorized capital of $1,000,000 or more, to act as an agent to hold the cash or securities in safekeeping. The agent shall furnish to the state treasurer secretary of administration a safekeeping receipt for all cash and securities received by it. The agent shall pay the cash and securities to the state treasurer secretary of administration on demand without conditions.

SB44, s. 2354 Section 2354. 223.105 (3) (a) of the statutes is amended to read:

SB44,925,21 223.105 (3) (a) To assure compliance with such rules as may be established under s. 220.04 (7), the division of banking, and the office of credit unions and the division of savings institutions shall, at least once every 18 months, examine the fiduciary operations of each organization which is under its respective jurisdiction and is subject to examination under sub. (2). If a particular organization subject to examination under sub. (2) is not otherwise under the jurisdiction of one of the foregoing agencies, such examination shall be conducted by the division of banking.

SB44, s. 2355 Section 2355. 223.105 (4) of the statutes is amended to read:

SB44,926,7 223.105 (4) Notice of fiduciary operation. Except for those organizations licensed under ch. 221 or this chapter, any organization engaged in fiduciary operations as defined in this section shall, as required by rule, notify the division of banking, or the office of credit unions or the division of savings institutions of that fact, directing the notice to the agency then exercising regulatory authority over the organization or, if there is none, to the division of banking. Any organization which intends to engage in fiduciary operations shall, prior to engaging in such operations, notify the appropriate agency of this intention. The notifications required under this subsection shall be on forms and contain information required by the rules promulgated by the division of banking.

SB44, s. 2356 Section 2356. 223.105 (5) of the statutes is amended to read:

SB44,926,15 223.105 (5) Enforcement remedy. The division of banking or the division of savings institutions or office of credit unions shall, upon the failure of such organization to submit notifications or reports required under this section or otherwise to comply with the provisions of this section, or rules established by the division of banking under s. 220.04 (7), upon due notice, order such defaulting organization to cease and desist from engaging in fiduciary activities and may apply to the appropriate court for enforcement of such order.

SB44, s. 2357 Section 2357. 223.105 (6) of the statutes is amended to read:

SB44,926,24 223.105 (6) Sunset. Except for an organization regulated by the office of credit unions or the division of savings institutions, a savings bank or savings and loan association regulated by the division of banking, or an organization authorized by the division of banking to operate as a bank or trust company under ch. 221 or this chapter, an organization may not begin activity as a fiduciary operation under this section after May 12, 1992. An organization engaged in fiduciary operations under this section on May 12, 1992, may continue to engage in fiduciary operations after that date.

SB44, s. 2358 Section 2358. 223.20 (3) of the statutes is amended to read:

SB44,927,8 223.20 (3) Surrender of trust powers. If a converted trust company bank has been fully discharged of all trusts committed to it, it may, by amendment to its articles of incorporation, duly adopted by its stockholders and approved by the division, surrender its powers to act in a fiduciary capacity. A trust company bank that surrenders its trust powers under this subsection shall eliminate from its corporate name the word "trust;" "trust" and may thereupon withdraw from the state treasurer secretary of administration all securities and cash that it has deposited with the state treasurer secretary of administration pursuant to s. 223.02.

SB44, s. 2359 Section 2359. 224.71 (3) (b) 1m. of the statutes is amended to read:

SB44,927,11 224.71 (3) (b) 1m. A community-based organization, as defined in s. 16.30 560.9801 (1), or a housing authority, as defined in s. 16.30 560.9801 (2).

SB44, s. 2360 Section 2360. 224.71 (4) (b) 1m. of the statutes is amended to read:

SB44,927,14 224.71 (4) (b) 1m. A community-based organization, as defined in s. 16.30 560.9801 (1), or a housing authority, as defined in s. 16.30 560.9801 (2).

SB44, s. 2361 Section 2361. 224.77 (1m) (c) of the statutes is amended to read:

SB44,927,20 224.77 (1m) (c) All forfeitures shall be paid to the division of banking within 10 days after receipt of notice of assessment or, if the forfeiture is contested under par. (b), within 10 days after receipt of the final decision after exhaustion of administrative review. The division of banking shall remit all forfeitures paid to the state treasurer secretary of administration for deposit in the school fund.

SB44, s. 2362 Section 2362. 226.025 (3) of the statutes is amended to read:

SB44,928,8 226.025 (3) The appointment of the department of financial institutions 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.

SB44, s. 2363 Section 2363. 227.01 (13) (s) of the statutes is amended to read:

SB44,928,12 227.01 (13) (s) Prescribes or relates to a uniform system of accounts for any person, including a municipality, that is regulated by the office of the commissioner of railroads or the public service commission.

SB44, s. 2364 Section 2364. 227.01 (13) (zk) of the statutes is repealed.

SB44, s. 2365 Section 2365. 227.01 (13) (zL) of the statutes is created to read:

SB44,928,16 227.01 (13) (zL) Establishes guidelines under s. 49.147 (3m) (c), (d) 2., (f) 1. or 2. b., or (g) 2. for transitional subsidized private sector jobs under Wisconsin Works.

SB44, s. 2366 Section 2366. 227.01 (13) (zv) of the statutes is created to read:

SB44,928,18 227.01 (13) (zv) Establishes policies under subch. III of ch. 39.

SB44, s. 2367 Section 2367. 227.03 (7) of the statutes is amended to read:

SB44,928,22 227.03 (7) Except as provided in s. 230.44 (4) (bm), this chapter does not apply to proceedings before the personnel employment relations commission in matters that are arbitrated in accordance with s. 230.44 (4) (bm).

SB44, s. 2368 Section 2368. 227.10 (3) (e) of the statutes is amended to read:

SB44,929,2 227.10 (3) (e) Nothing in this subsection prohibits the administrator of the division of merit recruitment and selection in the department of employment relations administration from promulgating rules relating to expanded certification under s. 230.25 (1n).

SB44, s. 2369 Section 2369. 227.115 (1) (a) and (b) of the statutes are amended to read:

SB44,929,5 227.115 (1) (a) "Department" means the department of administration commerce.

SB44,929,7 (b) "State housing strategy plan" means the plan developed under s. 16.31 560.9802.

SB44, s. 2370 Section 2370. 227.115 (3) (a) 5. of the statutes is amended to read:

SB44,929,9 227.115 (3) (a) 5. Housing costs, as defined in s. 16.30 560.9801 (3) (a) and (b).

SB44, s. 2371 Section 2371. 227.43 (1) (bk) of the statutes is created to read:

SB44,929,14 227.43 (1) (bk) Assign a hearing examiner to preside over any hearing or review under ss. 26.20 (3) and (10), 84.05, 88.66 (2), 88.87 (4), 88.88 (2), 190.02 (6), 190.16 (4) and (5), 192.324, 192.34, 192.52, 192.56, 195.28 (1), 195.285 (1), 195.29 (10), 195.295, 195.30 (1), 195.305, 195.31, 195.32, 195.325, and 195.60.

SB44, s. 2372 Section 2372. 227.43 (4) (b) of the statutes is amended to read:

SB44,929,18 227.43 (4) (b) The department of transportation shall pay all costs of the services of a hearing examiner assigned under sub. (1) (bg) or (bk) or assigned to the department under sub. (1) (br), according to the fees set under sub. (3) (b).

SB44, s. 2373 Section 2373. 227.44 (2s) of the statutes is repealed.

SB44, s. 2374 Section 2374. 227.46 (2m) of the statutes is amended to read:

SB44,930,12 227.46 (2m) In any hearing or review assigned to a hearing examiner under s. 227.43 (1) (bg) or (bk), the hearing examiner presiding at the hearing shall prepare a proposed decision, including findings of fact, conclusions of law, order and opinion, in a form that may be adopted as the final decision in the case. The proposed decision shall be a part of the record and shall be served by the division of hearings and appeals in the department of administration on all parties. Each party adversely affected by the proposed decision shall be given an opportunity to file objections to the proposed decision within 15 days, briefly stating the reasons and authorities for each objection, and to argue with respect to them before the administrator of the division of hearings and appeals. The administrator of the division of hearings and appeals may direct whether such argument shall be written or oral. If the decision of the administrator of the division of hearings and appeals varies in any respect from the decision of the hearing examiner, the decision of the administrator of the division of hearings and appeals shall include an explanation of the basis for each variance. The decision of the administrator of the division of hearings and appeals is a final decision of the agency subject to judicial review under s. 227.52. The department of transportation may petition for judicial review.

SB44, s. 2375 Section 2375. 227.46 (3) (intro.) of the statutes is amended to read:

SB44,930,16 227.46 (3) (intro.) With respect to contested cases except a hearing or review assigned to a hearing examiner under s. 227.43 (1) (bg) or (bk), an agency may by rule or in a particular case may by order:

SB44, s. 2376 Section 2376 . 227.47 (2) of the statutes is amended to read:

SB44,931,2 227.47 (2) Except as otherwise provided in this subsection, a proposed or final decision of the personnel employment relations commission, hearing examiner or arbitrator concerning an appeal of the decision of the secretary of employment relations made under s. 230.09 (2) (a) or (d) shall not be accompanied by findings of fact or conclusions of law. If within 30 days after the commission issues a decision in such an appeal either party files a petition for judicial review of the decision under s. 227.53 and files a written notice with the commission that the party has filed such a petition, the commission shall issue written findings of fact and conclusions of law within 90 days after receipt of the notice. The court shall stay the proceedings pending receipt of the findings and conclusions.

SB44, s. 2377 Section 2377. 227.47 (2) of the statutes, as affected by 2003 Wisconsin Act .... (this act), is amended to read:

SB44,931,14 227.47 (2) Except as otherwise provided in this subsection, a proposed or final decision of the employment relations commission, hearing examiner or arbitrator concerning an appeal of the decision of the secretary of employment relations administration made under s. 230.09 (2) (a) or (d) shall not be accompanied by findings of fact or conclusions of law. If within 30 days after the commission issues a decision in such an appeal either party files a petition for judicial review of the decision under s. 227.53 and files a written notice with the commission that the party has filed such a petition, the commission shall issue written findings of fact and conclusions of law within 90 days after receipt of the notice. The court shall stay the proceedings pending receipt of the findings and conclusions.

SB44, s. 2378 Section 2378. 227.52 (3) of the statutes is amended to read:

SB44,931,19 227.52 (3) Those decisions of the division of banking that are subject to review, prior to any judicial review, by the banking review board, and decisions of the division of banking relating to savings banks or savings and loan associations, but no other institutions subject to the jurisdiction of the division of banking.

SB44, s. 2379 Section 2379. 227.52 (5) of the statutes is repealed.

SB44, s. 2380 Section 2380. 227.53 (1) (a) 1. of the statutes is amended to read:

SB44,932,5 227.53 (1) (a) 1. Proceedings for review shall be instituted by serving a petition therefor personally or by certified mail upon the agency or one of its officials, and filing the petition in the office of the clerk of the circuit court for the county where the judicial review proceedings are to be held. If the agency whose decision is sought to be reviewed is the office of the commissioner of tax appeals commission, the banking review board, the credit union review board, or the savings and loan institutions review board or the savings bank review board, the petition shall be served upon both the agency whose decision is sought to be reviewed and the corresponding named respondent, as specified under par. (b) 1. to 5. 4.

SB44, s. 2381 Section 2381. 227.53 (1) (b) 1. of the statutes is amended to read:

SB44,932,8 227.53 (1) (b) 1. The office of the commissioner of tax appeals commission, the department of revenue.

SB44, s. 2382 Section 2382. 227.53 (1) (b) 4. of the statutes is amended to read:

SB44,932,13 227.53 (1) (b) 4. The savings and loan institutions review board, the division of savings institutions banking, except if the petitioner is the division of savings institutions banking, the prevailing parties before the savings and loan institutions review board shall be the named respondents.

SB44, s. 2383 Section 2383. 227.53 (1) (b) 5. of the statutes is repealed.

SB44, s. 2384 Section 2384. 227.53 (1) (d) of the statutes is amended to read:

SB44,932,23 227.53 (1) (d) Except in the case of the office of the commissioner of tax appeals commission, the banking review board, the credit union review board, and the savings and loan institutions review board and the savings bank review board, the agency and all parties to the proceeding before it, shall have the right to participate in the proceedings for review. The court may permit other interested persons to intervene. Any person petitioning the court to intervene shall serve a copy of the petition on each party who appeared before the agency and any additional parties to the judicial review at least 5 days prior to the date set for hearing on the petition.