100.06(1)(b)
(b) "Balance sheet" means a statement of assets, liabilities and equity on a fixed date.
100.06(1)(c)
(c) "Cash flow to debt service ratio" means the result obtained by dividing the total of net income plus noncash expenses plus interest expense by the total of interest expense plus current maturities of long-term debt.
100.06(1)(d)
(d) "Current assets" means cash and assets, including trade or investment items, which may be readily converted into cash in the ordinary course of business within one year from the date of the balance sheet.
100.06(1)(e)
(e) "Current liabilities" means liabilities which are due and payable within one year from the date of the balance sheet.
100.06(1)(h)
(h) "Equity" means the excess of total assets over total liabilities.
100.06(1)(i)
(i) "Liability" means an obligation to pay money or other assets or to render a service to another person either now or in the future.
100.06(1)(k)
(k) "Milk producer" means any person who owns or operates a dairy farm, and sells or distributes milk produced on that farm, directly or through a marketing agent under a written agency contract or such a marketing agent.
100.06(1g)(a)(a) No person may operate a dairy plant and no license therefor shall be issued unless he or she shall have first complied with the requirements of this section and satisfied the department that his or her financial condition is such as to reasonably assure prompt payment to milk producers for the milk to be purchased by him or her as and when the same becomes due and payable. The requirements of this section also apply to any dairy plant out of state that receives milk from milk producers in this state, to the same extent as if it were a dairy plant located in this state, except that such an out-of-state dairy plant need not be licensed in this state.
100.06(1g)(c)
(c) The department shall require the applicant to file a financial statement of his or her business operations and financial condition that meets the requirements of
par. (d). The licensee, during the term of his or her license, may be required to file such statements periodically. All such statements shall be confidential and shall not be open for public inspection. The department may require such statements to be certified by a public accountant. Such statements and audits, when made by the department, shall be paid for at cost.
100.06(1g)(d)
(d) A dairy plant shall submit to the department a financial statement at the end of each quarter of its fiscal year.
100.06(1m)
(1m) An applicant or licensee who does not meet all of the following minimum financial standards shall file with the department a bond or other security acceptable to the department:
100.06(1m)(a)
(a) His or her ratio of current assets to current liabilities shall be at least 1.25 to 1.0.
100.06(1m)(b)
(b) He or she shall have equity equal to at least 35% of total assets.
100.06(1m)(c)
(c) He or she shall have a cash flow to debt service ratio of at least 1.5 to 1.0.
100.06(2)
(2) In all cases where it appears that the financial condition of the applicant or of the licensee is not adequate to reasonably assure payment when due for the milk, to be purchased by him or her, the department may require any of the following:
100.06(2)(a)
(a) The filing of a bond or other security acceptable to the department that is payable to the department for the benefit of milk producers who would otherwise suffer because of the default of the licensee in the payment for milk.
100.06(2)(b)
(b) The filing of an agreement providing for the complete control over all manufactured or processed milk and dairy products by a trustee to be selected at least annually by the milk producers. Such trustee shall make and file a trustee's bond and contracts signed by the operator and the purchaser of the dairy products requiring that payment for all such products sold be made to him or her as trustee. Such trustee shall maintain a separate bank account for that purpose and shall at least annually render a true and correct account of his or her dealings to the department and to the milk producers.
100.06(2)(c)
(c) That the licensee shall receive no milk on credit after the 5th day of any month unless at least 90% of the value of the milk delivered during the first 15 days of the preceding month shall have been paid, nor after the 20th day of any month unless the value of all of the milk delivered during the previous month shall have been paid in full; provided that when payment is based on the value of Swiss cheese manufactured from the milk so delivered, an extension of 2 months during which the product is held for curing shall be allowed if the manufactured product is the property of the milk producers or if the proceeds from the sale thereof are made payable to and distributed by a banking institution.
100.06(2m)(a)(a)
First monthly payment. A dairy plant operator's payment to a milk producer for milk received from that milk producer during the first 15 days of the month shall:
100.06(2m)(a)2.
2. Be an estimated price that is at least 80% of the class III price published by the regional federal milk market administrator for the month before the month in which the milk is received, or 80% of the price originally contracted for by the dairy plant operator and the milk producer, whichever is greater.
100.06(2m)(b)
(b)
Second monthly payment. A dairy plant operator shall pay a milk producer the balance due on the actual price for all milk received from that milk producer during the month before the 19th day of the following month.
100.06(3)(a)(a) All dairy plant operators shall inform milk producers delivering milk of the financial basis on which the license was issued including the type and amount of security filed under this section by statement in writing to each milk producer patron at least once every 6 months.
100.06(3)(b)
(b) No person may receive milk which will increase the amount owed from him or her beyond the amount represented as a basis for the issuance of a license without first notifying the department.
100.06(4)(a)(a) Any milk producer injured by the breach of any obligation under this section may file with the department a verified proof of claim. Upon receipt of such claim or any other evidence of default, the department, by order, may require all interested creditors to file their verified proofs of claim before a certain date or be barred from participating in any recovery made by the department. Notice of the entry of such order shall be given by posting a copy thereof on the premises described in the license and by publication of a class 3 notice, under
ch. 985, in the affected area. The date of last insertion shall not be less than 30 days prior to the last date for the filing of such claims. The department shall make the necessary audit and by order allow or disallow all claims presented.
100.06(4)(b)
(b) The licensee or trustee, or surety or sureties of either of them, shall pay the interest on any claim that the department allows unless the claimant has waived the payment of that interest in writing. The interest shall accrue from the first day of the breach of the obligation under this section for which the verified claim is filed until full payment of the allowed claim is made. The department, by rule, shall establish the interest rate that applies to any claimant except that if the claimant has contracted the interest rate in writing with the licensee or has specified the interest rate in a written confirmation of purchase delivered to the licensee within a reasonable time of purchase to which interest rate the licensee did not object in writing within 10 days of receipt of that confirmation, the interest rate in the contract or confirmation shall apply to the claimant under this subsection.
100.06(4)(c)
(c) Notice of allowance or disallowance and interest and request for the payment within 30 days of the claims allowed shall be sent to the principal and surety by registered mail. The department may demand, collect and receive from the licensee or the trustee, or from the surety or sureties of either of them, the amount determined to be necessary to satisfy such claims, plus interest.
100.06(4)(d)
(d) The department may commence an action for the purpose of collecting claims, plus interest, in the circuit court of the county in which the licensed plant is located. Upon receipt of the money to be applied to the satisfaction of such claims plus interest as provided in this section, the department shall make distribution to the claimants in accordance with the order allowing claims plus interest, in full or proportionally, as the case may be.
100.06(4)(e)
(e) No claims for the purchase price of any milk the value of which was due and payable more than 30 days prior to the date the first written notice of default is received by the department, nor claims covering transactions wherein the seller has granted to the licensee any voluntary extension of credit, shall be allowed or paid under this section.
100.06(5)
(5) When any dairy plant shall employ or retain a sales agent or commission dealer to market and distribute its dairy products, and such sales agent or commission dealer shall sell such dairy products to a dairy products dealer, such dairy products dealer shall directly remit or transmit all moneys due thereunder to such dairy plant operator or to the trustee thereof, as the case may be. The dairy plant shall be responsible for the payment of any commission or salary that may be due to such sales agent or commission dealer. Such payment by the dairy products dealer shall be considered as in full release, payment and discharge of any obligation thereunder.
100.06(6)
(6) Compliance with this section shall be an additional requirement for the license and noncompliance shall be ground for denial, suspension or revocation of license, under
s. 97.20. This subsection does not apply to any dairy plant, as defined in
s. 97.20 (1) (a), operated by this state.
100.06(7)
(7) The whole claim of any milk producer against any licensee under
s. 97.20 on account of milk sold or delivered to such licensee and any judgment therefor shall be entitled to the same preference in any insolvency or other creditor's proceedings as is given by any law of this state to claims for labor. One claim may be filed for any number of milk producers and when so filed the preference shall be allowed on the amount due each milk producer. Such preference shall also be given in bankruptcy proceedings to the extent permitted by the federal law. This section shall not affect or impair any other lien, security or priority for said claim or judgment.
100.06(8)
(8) The protection to milk producers afforded by this section shall be available to the milk producers of any state selling milk to any dairy plant licensed in this state.
100.06(9)
(9) Milk producer security fee requirement. A dairy plant operator shall pay a fee that, unless otherwise established by the department by rule, is 0.1 cent for each 100 pounds of milk that are received by the dairy plant operator. The dairy plant operator shall pay the fee to the department to fund the milk producer security program established under this section. The dairy plant operator shall pay to the department the fee on each month's milk deliveries on or before the 18th day of the following month. No dairy plant operator may charge to or collect from a milk producer from whom the dairy plant operator receives milk the fee that the dairy plant operator pays under this paragraph. This subsection applies to an operator of a dairy plant that is located outside this state if the operator purchases milk that is produced on a dairy farm located in this state.
100.06 Annotation
The department could find an implied contract that a dairy plant would pay producers of milk a competitive price and that when less was paid the difference was to be made up from the security funds of the producer. Columbus Milk Producers v. Dept. of Agriculture, 48 W (2d) 451, 180 NW (2d) 617.
100.07
100.07
Milk payments; audits. 100.07(1)
(1) Whenever petitions signed by more than 60 per cent of the producers of milk delivered to any dairy plant or petitions signed by more than 60 per cent of the producers comprising any municipal milk shed shall be presented to the department asking for the audit of payments to producers, the department by investigation and public hearing shall determine the facts in support of and against such petition and render its decision thereon. The department by order shall define the plants and areas affected. All persons receiving from producers in any such plant or area milk any part of which is used for fluid distribution shall keep adequate records of all purchases and all usage or disposition of milk and shall make reports thereof as prescribed by the department. The department shall have free access to such records and shall after entry of such order audit the receipts and usage or disposition of milk and cream at intervals sufficiently frequent to keep the producers informed for bargaining purposes.
100.07(2)
(2) Each such person shall deduct from the price to producers an amount sufficient to administer this section, to be the same for all, and not to exceed one-half cent per 100 pounds of milk received or its equivalent. Amounts so deducted are trust funds and shall be paid to the department.
100.07(3)
(3) Whenever petitions signed by more than 51 per cent of the producers of milk delivered to any such plant or in any such municipal milk shed shall be presented to the department asking for discontinuance of such auditing service, it shall promptly hold a public hearing to determine the sufficiency of such petitions, and if it shall appear that the required number of persons have so petitioned, the auditing service shall be ordered discontinued. Plants and areas now being audited by the department shall continue to receive such service until an order of discontinuance is made as herein provided.
100.07(4)
(4) Authorized officials of any organization whose members are producers delivering milk to any such plant or in any such municipal milk shed may sign petitions for such auditing service or for the discontinuance thereof for and on behalf of the producer members of such organization.
100.07(5)
(5) Any person who violates this section by failing to pay to the department the deductions required by this section, or by failing to make or to keep the required records or reports, or by wilfully making any false entry in such records or reports, or by wilfully failing to make full and true entries in such records or reports, or by obstructing, refusing or resisting other than through judicial process any department audit of such records, shall be fined not to exceed $200 or imprisoned in the county jail not more than 6 months or by both.
100.07(6)
(6) Action to enjoin violation of this section may be commenced and prosecuted by the department in the name of the state in any court having equity jurisdiction.
100.12
100.12
Refusal of commission merchant to furnish written statement of transaction prima facie evidence of gambling. 100.12(1)(1) Every person doing business as a commission merchant or broker shall furnish, upon demand, to any person for whom he or she has executed an order for the purchase or sale of a commodity, whether for immediate or future delivery, a written statement containing the following information:
100.12(1)(a)
(a) The name of the party from whom the commodity was bought or to whom it was sold, whichever the case may be; and
100.12(1)(b)
(b) The time when, the place where, and the price at which such commodity was bought or sold.
100.12(2)
(2) Refusal upon demand to furnish the written statement specified in
sub. (1) is prima facie evidence that the purchase or sale of the commodity was not a bona fide business transaction.
100.12(3)
(3) Transactions by or between members of a lawfully constituted chamber of commerce or board of trade which has been organized pursuant to the laws of this state are prima facie valid if they are conducted in accordance with the charter of such chamber of commerce or board of trade and the rules, bylaws and regulations adopted thereunder.
100.12 History
History: 1993 a. 492.
100.14
100.14
Uniform labels and trademarks. 100.14(1)
(1) The department may adopt uniform labels and trademarks for brands of Wisconsin products and shall, upon request, permit the use of such labels and trademarks by any person engaged in the production or distribution of products who complies with regulations issued by the department for the use of such labels or trademarks.
100.14(2)
(2) The secretary of state shall, upon application of the department, record any such label or trademark under
ss. 132.01 to
132.11. The department shall be entitled to protect such label or trademark under said sections and in any other manner authorized by law.
100.15
100.15
Regulation of trading stamps. 100.15(1)
(1) No person may use, issue or furnish within this state, in connection with the sale of any goods, any trading stamp or similar device, which entitles the purchaser to procure anything of value in exchange for the trading stamp or similar device.
100.15(3)
(3) This section does not apply to:
100.15(3)(a)
(a) Stamps, tokens, tickets, or similar devices, without any stated cash value, if such stamps, tokens, tickets, or similar devices are redeemable only in payment for parking privileges for automobiles or fares on urban passenger transit facilities.
100.15(3)(b)
(b) A person who issues a trading stamp or other similar device, with the sale of any goods, which bears upon its face a stated cash value and is redeemable in cash upon presentation in amounts aggregating 25 cents or over of redemption value, or in merchandise at the option of the holder.
100.15(3)(c)
(c) The publication by or distribution through newspapers, or other publications, of coupons in advertisements other than their own.
100.15(3)(d)
(d) A coupon, certificate or similar device, which is within, attached to, or a part of any package or container as packed by the original manufacturer and is directly redeemed by such manufacturer.
100.15(3)(e)
(e) A coupon, certificate or similar device, which is within, attached to, or a part of any package or container as packed by the original manufacturer or retailer and which is to be redeemed by a retailer or another manufacturer if:
100.15(3)(e)1.
1. The coupon, certificate or similar device clearly states the names and addresses of both the issuing manufacturer or retailer and any redeeming manufacturer; and
100.15(3)(e)2.
2. The issuing manufacturer or retailer is responsible to redeem the coupon, certificate or similar device if the redeeming retailer or manufacturer fails to do so.
100.15(3)(f)
(f) A coupon, ticket, certificate, card or similar device issued, distributed or furnished by a retailer and redeemed by that retailer for any product or service the retailer sells or provides in the usual course of business. Redemption under this paragraph shall be made by the issuing retail outlet on request of the customer, and may be made by any other retail outlet operating under the same business name.
100.15(3)(g)
(g) An entry blank or game piece redeemed for merchandise in a chance promotion exempt under
s. 100.16 (2).
100.16
100.16
Selling with pretense of prize; in-pack chance promotion exception. 100.16(1)(1) No person shall sell or offer to sell anything whatever, by the representation or pretense that a sum of money or something of value, which is uncertain or concealed, is inclosed within or may be found with or named upon the thing sold, or that will be given to the purchaser in addition to the thing sold, or by any representation, pretense or device, by which the purchaser is informed or induced to believe that money or something else of value may be won or drawn by chance by reason of such sale.
100.16(2)
(2) This section does not apply to an in-pack chance promotion if all of the following are met:
100.16(2)(a)
(a) Participation is available, free and without purchase of the package, from the retailer or by mail or toll-free telephone request to the sponsor for entry or for a game piece.
100.16(2)(b)
(b) The label of the promotional package and any related advertising clearly states any method of participation and the scheduled termination date of the promotion.
100.16(2)(c)
(c) The sponsor on request provides a retailer with a supply of entry forms or game pieces adequate to permit free participation in the promotion by the retailer's customers.
100.16(2)(d)
(d) The sponsor does not misrepresent a participant's chances of winning any prize.
100.16(2)(e)
(e) The sponsor randomly distributes all game pieces and maintains records of random distribution for at least one year after the termination date of the promotion.
100.16(2)(f)
(f) All prizes are randomly awarded if game pieces are not used in the promotion.
100.16(2)(g)
(g) The sponsor provides on request of a state agency a record of the names and addresses of all winners of prizes valued at $100 or more, if the request is made within one year after the termination date of the promotion.
100.16 History
History: 1981 c. 351.
100.16 Annotation
Plan whereby soft drink company would include coupon for Wisconsin lottery ticket with specified purchases and customer could redeem coupon for lottery ticket at retail lottery outlet would violate this section.
77 Atty. Gen. 303.
100.17
100.17
Guessing contests. No person or persons or corporations in their own name or under any assumed trade name, with intent to defraud, shall advertise or represent in printing or writing of any nature, any enigma, guessing or puzzle contest, offering to the participants therein any premium, prize or certificate entitling the recipient to a credit upon the purchase of merchandise in any form whatsoever; nor shall any person or corporation in the printing or writing, advertising or setting forth any such contests, fail to state definitely the nature of the prizes so offered; nor shall any person or corporation fail to state clearly upon all evidences of value issued as a result of such contest in the form of credit certificates, credit bonds, coupons, or other evidences of credit in any form whatsoever, whether the same are redeemable in money or are of value only as a credit upon the purchase of merchandise; nor shall any person or corporation issue to any person as a result of any such contest, any instrument in the form of a bank check or bank draft or promissory note or any colorable imitation of any of the foregoing; nor shall any person or corporation refuse or fail to award and grant the specific prizes offered to the persons determined to be entitled thereto under the terms of such contest, or fail to redeem any credit certificate, credit bonds, coupons or other evidences of credit issued as a result of any such contest, according to the terms thereof.
100.18
100.18
Fraudulent representations. 100.18(1)
(1) No person, firm, corporation or association, or agent or employe thereof, with intent to sell, distribute, increase the consumption of or in any wise dispose of any real estate, merchandise, securities, employment, service, or anything offered by such person, firm, corporation or association, or agent or employe thereof, directly or indirectly, to the public for sale, hire, use or other distribution, or with intent to induce the public in any manner to enter into any contract or obligation relating to the purchase, sale, hire, use or lease of any real estate, merchandise, securities, employment or service, shall make, publish, disseminate, circulate, or place before the public, or cause, directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in this state, in a newspaper, magazine or other publication, or in the form of a book, notice, handbill, poster, bill, circular, pamphlet, letter, sign, placard, card, label, or over any radio or television station, or in any other way similar or dissimilar to the foregoing, an advertisement, announcement, statement or representation of any kind to the public relating to such purchase, sale, hire, use or lease of such real estate, merchandise, securities, service or employment or to the terms or conditions thereof, which advertisement, announcement, statement or representation contains any assertion, representation or statement of fact which is untrue, deceptive or misleading.
