Note: Inserts preferred spelling for "percent."
AB570, s. 49 14Section 49. 225.03 of the statutes is amended to read:
AB570,17,22 15225.03 Capital stock. At least 25 per cent percent of the capital stock
16authorized in the articles of incorporation shall be paid into the treasury of the
17corporation in cash before the corporation shall be authorized to transact any
18business other than such as relates to its organization. At least a majority of the
19common stock shall at all times be held by residents of this state or by persons, firms
20or corporations engaged in doing business therein. Common stock shall at all times
21be held by stockholder members who have their residences or principal places of
22business in not less than 36 counties in this state.
Note: Inserts preferred spelling for "percent."
AB570, s. 50 23Section 50. 225.04 of the statutes is amended to read:
AB570,18,11
1225.04 Directors. The corporate powers of any such corporation shall be
2exercised by a board of directors. The number of directors and their term of office
3shall be determined in a manner prescribed in the bylaws. At no time shall there be
4less than 5 directors. The initial board of directors shall consist of the incorporators
5and they shall serve until the first annual meeting. The first annual meeting shall
6occur at a date to be fixed by the board of directors as soon as reasonably possible after
7a minimum of 25 per cent percent of the capital stock of the corporation is paid into
8its treasury and a minimum of 10 stockholder members of the corporation have
9qualified as provided in s. 225.05; and such annual meeting and subsequent annual
10meetings shall be called and the directors shall be elected in the manner provided
11in the bylaws.
Note: Inserts preferred spelling for "percent."
AB570, s. 51 12Section 51. 225.06 of the statutes is amended to read:
AB570,18,18 13225.06 Finance. Any such corporation shall set apart as a surplus not less
14than 10 per cent percent of its net earnings each year until such surplus, with any
15unimpaired surplus paid in, shall amount to one-half of the capital stock. The
16surplus shall be kept to secure against losses and contingencies, and whenever it
17becomes impaired it shall be reimbursed in the manner provided for its
18accumulation.
Note: Inserts preferred spelling for "percent."
AB570, s. 52 19Section 52. 340.01 (6) of the statutes is amended to read:
AB570,18,2220 340.01 (6) "Business district" means the territory contiguous to a highway
21when 50 per cent percent or more of the frontage thereon for a distance of 300 feet
22or more is occupied by buildings in use for business.
Note: Inserts the preferred spelling for "percent."
AB570, s. 53
1Section 53. 347.45 (2) (c) (intro.) of the statutes is amended to read:
AB570,19,92 347.45 (2) (c) (intro.) A pneumatic tire may have embedded in it wire or wire
3coils for improving traction on ice and snow, but such tire shall be so constructed that
4the per cent percentage of wire or wire coils in contact with the roadway does not
5exceed, after the first 1,000 miles of use or operation, 5% 5 percent of the total tire
6area in contact with the roadway. During the first 1,000 miles of use or operation of
7any such tire the wire or wire coils in contact with the roadway shall not exceed 20%
820 percent of the total tire area in contact with the roadway. Tires equipped with
9tungsten carbide studs shall be limited in usage and design as follows:
Note: Inserts "percentage" to correct grammar, inserts the preferred spelling for
"percent," and replaces percent symbols consistent with current style.
AB570, s. 54 10Section 54. 348.16 (2) of the statutes is amended to read:
AB570,19,1511 348.16 (2) Except as provided in sub. (3) and s. 348.175 and subject to any
12modifications made by a city of the first class pursuant to s. 349.15 (3), no person,
13without a permit therefor, shall operate on a class "B" highway any vehicle or
14combination of vehicles imposing wheel, axle, group of axles, or gross weight on the
15highway exceeding 60 per cent percent of the weights authorized in s. 348.15 (3).
Note: Inserts preferred spelling for "percent."
AB570, s. 55 16Section 55. 402.603 (2) of the statutes is amended to read:
AB570,19,2117 402.603 (2) When the buyer sells goods under sub. (1), the buyer is entitled to
18reimbursement from the seller or out of the proceeds for reasonable expenses of
19caring for and selling them, and if the expenses include no selling commission then
20to such commission as is usual in the trade or if there is none to a reasonable sum
21not exceeding 10 per cent percent of the gross proceeds.
Note: Inserts preferred spelling for "percent."
AB570, s. 56 22Section 56. 402.718 (2) (b) of the statutes is amended to read:
AB570,20,3
1402.718 (2) (b) In the absence of such terms, 20 per cent percent of the value
2of the total performance for which the buyer is obligated under the contract or $500,
3whichever is smaller.
Note: Inserts preferred spelling for "percent."
AB570, s. 57 4Section 57. 422.201 (2) (b) 1. of the statutes is amended to read:
AB570,20,65 422.201 (2) (b) 1. Eighteen per cent percent per year on that part of the unpaid
6balance of the amount financed which is $500 or less; and
Note: Inserts preferred spelling for "percent."
AB570, s. 58 7Section 58. 422.201 (2) (b) 2. of the statutes is amended to read:
AB570,20,98 422.201 (2) (b) 2. Twelve per cent percent per year on that part of the unpaid
9balance of the amount financed which is more than $500.
Note: Inserts preferred spelling for "percent."
AB570, s. 59 10Section 59. 611.34 of the statutes is amended to read:
AB570,21,2 11611.34 Corporate repurchase of shares. No stock corporation may
12repurchase any of its own shares within 5 years after initial issuance of the certificate
13of authority, except pursuant to a plan for the repurchase which has been approved
14by the commissioner. After 5 years a stock corporation may repurchase its own
15shares under ss. 180.0631, 180.0640, and 180.1708 (2), but within 10 days after the
16end of any month in which it purchases more than one per cent percent of any class
17of its outstanding shares the corporation shall report the price and the names of the
18registered shareholders from whom the shares are acquired and of any other persons
19beneficially interested, so far as the latter are known to the corporation. The
20corporation shall make a like report within 10 days after the end of any 3-month
21period in which it purchases more than 2% 2 percent of any class of its outstanding

1shares or within 10 days after the end of any 12-month period in which it purchases
2more than 5% 5 percent of any class of its outstanding shares.
Note: Inserts preferred spelling for "percent" and replaces percent symbols
consistent with current style.
AB570, s. 60 3Section 60. 618.41 (9) (a) of the statutes is amended to read:
AB570,21,144 618.41 (9) (a) Required information. Every new or renewal insurance policy
5procured and delivered under this section shall bear the name and address of the
6insurance agent or broker who procured it and, except for ocean marine insurance,
7shall have stamped or affixed upon it the following: "This insurance contract is with
8an insurer which has not obtained a certificate of authority to transact a regular
9insurance business in the state of Wisconsin, and is issued and delivered as a surplus
10line coverage pursuant to s. 618.41 of the Wisconsin Statutes. Section 618.43 (1),
11Wisconsin Statutes, requires payment by the policyholder of 3% 3 percent tax on
12gross premium"." Every ocean marine insurance policy shall have stamped or affixed
13upon it the above statement except that the tax shall be one-half of one per cent
14percent on gross premium.
Note: Inserts preferred spelling for "percent" and replaces percent symbols
consistent with current style. The quotation mark is moved for consistency with current
style.
AB570, s. 61 15Section 61. 632.43 (6) (a) of the statutes is amended to read:
AB570,22,1016 632.43 (6) (a) Except as otherwise provided in par. (b) or (c), all adjusted
17premiums and present values referred to in this section shall for all policies of
18ordinary insurance be calculated on the basis of the commissioners 1941 standard
19ordinary mortality table, except that for any category of ordinary insurance issued
20on female risks adjusted premiums and present values may be calculated according
21to an age not more than 3 years younger than the actual age of the insured, and such
22calculations for all policies of industrial insurance shall be made on the basis of the

11941 standard industrial mortality table. All calculations shall be made on the basis
2of the rate of interest, not exceeding 3 1/2 per cent 3.5 percent per year, specified in
3the policy for calculating cash surrender values and paid-up nonforfeiture benefits;
4provided, that in calculating the present value of any paid-up term insurance with
5accompanying pure endowment, if any, offered as a nonforfeiture benefit, the rates
6of mortality assumed may not be more than 130 per cent percent of the rates of
7mortality according to such applicable table. For insurance issued on a substandard
8basis, the calculation of any such adjusted premiums and present values may be
9based on such other table of mortality as may be specified by the company and
10approved by the commissioner.
Note: Inserts preferred spelling for "percent." A fraction is replaced with a decimal
consistent with current style.
AB570, s. 62 11Section 62. 632.43 (6) (c) of the statutes is amended to read:
AB570,23,712 632.43 (6) (c) In the case of industrial policies issued on or after the operative
13date of this paragraph as defined herein, all adjusted premiums and present values
14referred to in this section shall be calculated on the basis of the commissioners 1961
15standard industrial mortality table and the rate of interest, not exceeding 3 1/2 per
16cent
3.5 percent per year, specified in the policy for calculating cash surrender values
17and paid-up nonforfeiture benefits; provided, that in calculating the present value
18of any paid-up term insurance with accompanying pure endowment, if any, offered
19as a nonforfeiture benefit, the rates of mortality assumed may be not more than those
20shown in the commissioners 1961 industrial extended term insurance table, and for
21insurance issued on a substandard basis, the calculations of any such adjusted
22premiums and present values may be based on such other table of mortality as is
23specified by the company and approved by the commissioner. After May 19, 1963,

1any company may file with the commissioner a written notice of its election to comply
2with this paragraph after a specified date before January 1, 1968. After the filing
3of such notice, then upon such specified date (, which shall be the operative date of
4this paragraph for such company), this paragraph shall become operative with
5respect to the industrial policies thereafter issued by such company. If a company
6makes no such election, the operative date of this paragraph for such company shall
7be January 1, 1968.
Note: Inserts preferred spelling for "percent." Replaces parentheses and a fraction
consistent with current style.
AB570, s. 63 8Section 63. 705.04 (2g) of the statutes, as affected by 2007 Wisconsin Act 20,
9section 9121 (6) (a), is amended to read:
AB570,23,1910 705.04 (2g) Notwithstanding subs. (1) and (2), the department of health
11services may collect, from funds of a decedent that are held by the decedent
12immediately before death in a joint account or a P.O.D. account, an amount equal to
13the medical assistance that is recoverable under s. 49.496 (3) (a), an amount equal
14to aid under s. 49.68, 49.683 or 49.685 that is recoverable under s. 49.682 (2) (a), an
15amount equal to long-term community support services under s. 46.27 that is
16recoverable under s. 46.27 (7g) (c) 1. and that was paid on behalf of the decedent or
17the decedent's spouse or an amount equal to the family care benefit under s. 46.286
18that is recoverable under rules promulgated under s. 46.286 (7) and that was paid
19on behalf of the decedent or the decedent's spouse.
Note: Inserts missing "s." The change is printed in the 2007-08 statutes.
AB570, s. 64 20Section 64. 813.28 (2) (b) of the statutes is amended to read:
AB570,24,221 813.28 (2) (b) By then deducting for the insurance fund provided in s. 813.31
22a sum equal to 5 per cent percent of the total value of the property remaining,

1including amounts paid to the receivership estate from policies of insurance on the
2absentee's life;
Note: Inserts preferred spelling for "percent."
AB570, s. 65 3Section 65. 985.08 (3) of the statutes is amended to read:
AB570,24,74 985.08 (3) The publisher may increase rates allowed by this section up to 15
5per cent for each 4,000 of circulation or fraction thereof above 8,000 of circulation,
6based on previous year-end circulation figures, but not to exceed an additional
7increase of 75 per cent percent.
Note: Inserts preferred spelling for "percent."
AB570,24,88 (End)
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