217.10(2)
(2) Investigate, at any time, the business and examine the books, accounts, records and files used therein of every licensee or agent thereof. The cost of each such examination shall be paid by every licensee so examined within 30 days after demand therefor by the division, and the state may maintain an action for recovery of such costs in any court of competent jurisdiction;
217.10(3)
(3) Make such rules not inconsistent with this chapter as it deems necessary for the administration of this chapter.
217.10 History
History: 1995 a. 27.
217.11
217.11
Duties of licensees. 217.11(1)(1) Every check sold by any licensee shall bear the name of the licensee clearly imprinted thereon, including the words authorized under
s. 221.0402 (2) if applicable.
217.11(2)
(2) Any money received by a seller of checks to be transmitted to a foreign country shall be so transmitted within 5 days from the receipt thereof.
217.11(3)
(3) Every licensee shall furnish a customer with a receipt or other acknowledgment upon receiving funds from such customer. Such receipt or other acknowledgment shall be numbered serially.
217.11(4)
(4) Each licensee shall have at all times a minimum of $1,000 of its own cash funds available for the uses and purposes of its business which minimum sum shall be exclusive of and in addition to funds received for exchange or transfer and in addition thereto each such licensee who does not maintain a bond in the maximum sum of $300,000 or securities in lieu of such bond as required by
s. 217.06 (3) shall have at all times an amount of liquid funds which may include investments readily convertible into cash sufficient to pay on demand all outstanding money orders issued by it.
217.11(5)
(5) If a licensee ceases to do business in this state, the licensee shall deposit the licensee's records and proceeds of checks and remittances relating to checks sold in this state with the state treasurer. On claim and submission of proof of ownership satisfactory to the treasurer, the treasurer shall pay such amount of the funds deposited as are owing to a person. Such funds as are not paid out within 20 years from date of deposit shall escheat to and become the property of the state, and shall be paid by the treasurer and be dealt with in the same manner as other escheated property.
217.12(1)(1)
Licensee forbidden to act as depository. No licensee may accept money or evidences of money as a deposit to be returned to the depositor or upon the depositor's order except as permitted by this chapter, and no seller of checks may act as bailee or agent for persons to hold money or evidences of money or proceeds therefrom for the use and benefit of the owners and to deliver such money, evidences or proceeds upon request of the owner. Nothing in this subsection shall prevent a seller of checks from selling or issuing checks as authorized under this chapter.
217.12(2)
(2) Tokens. No licensee shall issue scrip or tokens other than checks to be used in lieu of money for the purchase of goods or services from any enterprise.
217.12(3)
(3) Other business forbidden. No seller of checks shall conduct its business, directly or through agents, on the same premises with a business whose chief source of revenue is derived from the sale of alcohol beverages for consumption on the premises.
217.12(4)
(4) Name, forbidden use. No company shall use a name which indicates that it is a branch, unit or agency of the state or federal government.
217.12 History
History: 1981 c. 79 s.
17;
1995 a. 27;
1997 a. 35.
217.13
217.13
Other statute applicable. Section 220.06 applies to this chapter.
217.14
217.14
Liability of licensees. Each licensee shall be liable for the payment of all checks which it sells, in whatever form and whether directly or through an agent, as the maker or drawer of the check according to the negotiable instrument laws of this state.
217.15
217.15
Delinquent seller of checks. The division may take possession of any insolvent seller of checks under the circumstances and utilizing the procedure prescribed in
s. 218.04 (9m), so far as applicable.
217.15 History
History: 1995 a. 27.
217.16
217.16
Penalties. Any person who directly or through another violates or attempts to violate this chapter may be fined not more than $500 or imprisoned not more than 6 months or both. Each transaction in violation of this chapter and each day that a violation continues is a separate offense.
217.17
217.17
Testimonial powers. 217.17(1)(1) The division may, in relation to any matter within the division's powers, issue subpoenas and take testimony.
217.17(2)
(2) Witnesses shall be entitled to the same fees as are allowed to witnesses in courts of record. Such fees shall be audited and paid by the state in the same manner as other expenses of the division are audited and paid. No witness subpoenaed at the instance of any party other than the division shall be entitled to payment of fees by the state, unless the division certifies that the testimony of such witness was material to the hearing or proceeding.
217.17(3)
(3) No person shall, without reasonable cause, fail to comply with a subpoena issued under this section, nor refuse to be sworn or to be examined, or to answer a proper question, or produce a pertinent document, when ordered to do so by the official conducting the investigation or proceeding.
217.17 History
History: 1973 c. 3 s.
10; Stats. 1973 s. 217.17;
1995 a. 27.
217.18
217.18
Power to secure evidence. 217.18(1)
(1) The division may, by general or special order require licensees to file with the division at such time and in such manner as it may direct, sworn or unsworn reports, or sworn or unsworn answers in writing to specific questions as to any matter upon which the division may demand information under this chapter.
217.18(2)
(2) The division or any official, employee or agent authorized by it may, for purposes within the division's powers, have access during business hours to the offices and places of business, books, accounts, papers, records, files, safes and vaults of persons engaged in business as a seller of checks, whether licensees or not.
217.18(3)
(3) No person shall refuse, neglect or fail to render any reports or answer required under this section at such time and in such manner as the division may prescribe. No person shall wilfully make any false entry or statement in any report or answer, nor shall wilfully fail to make full and true entries and statements in any report or answer required under authority of this chapter.
217.18 History
History: 1973 c. 3 s.
11; Stats. 1973 s. 217.18;
1995 a. 27.
217.19
217.19
Division orders; rules of procedure. 217.19(1)
(1) The division, prior to the issuance of any general order under this chapter, shall hold a public hearing.
217.19(2)
(2) The division, prior to the issuance of any special order, shall serve a complaint, prepared in the name of the division, upon the person against whom the complaint is made and shall accompany such complaint by notice of a public hearing to be held in the matter not sooner than 10 days after such service. The person against whom the complaint is made shall be entitled to be heard in person, or by agent or attorney, and shall have the benefit of subpoena process to compel the attendance of witnesses.
217.19(4)
(4) The division shall serve a copy of any special order upon the person against whom the order is issued and such an order shall be effective upon such service, unless otherwise indicated in the order.
217.19(5)
(5) A complaint, notice of hearing, subpoena, special order or any other process issued by the division may be served in the same manner that process in a civil action is served.
217.19(6)
(6) The division shall make its own rules of practice and procedure for the conduct of hearings and other proceedings before it, not inconsistent with any provision of this chapter or with any other provision of law governing such practice or procedure.
217.19 History
History: 1973 c. 3 s.
12; Stats. 1973 s. 217.19;
1995 a. 27.
217.20
217.20
Court review. Orders of the division under this chapter shall be subject to review in the manner provided in
ch. 227.
217.20 History
History: 1973 c. 3 s.
13; Stats. 1973 s. 217.20;
1995 a. 27.
217.21
217.21
Records; reports. 217.21(1)(1) The licensee shall keep and use in the licensee's business such books, accounts and records as the division, by general or special order, may find to be necessary and require to enable it to determine whether such licensee is complying with this chapter and with the lawful orders issued hereunder.
217.21(2)
(2) Each licensee shall annually, on or before March 15, file a report with the division giving such reasonable and relevant information as the division may, by general or special order, require concerning the business and operations conducted by such licensee within the state. Such report shall be made under oath and shall be in the form prescribed by the division and shall be subject to public inspection in the discretion of the division. The division shall make and publish annually an analysis and recapitulation of such reports.
217.21(3)
(3) Reports and records referred to in this section shall be maintained for not less than 6 years by each licensee.
217.21 History
History: 1973 c. 3 ss.
13,
17; Stats. 1973 s. 217.21;
1991 a. 316;
1995 a. 27.
