224.30(4)(a)
(a) In this subsection, “system" means the department's corporate registration information system.
224.30(4)(b)
(b) The department may not record in the system any instrument offered for recording that contains the social security number of an individual. If the department is presented with an instrument for recording in the system that contains an individual's social security number, the department may, prior to recording the instrument, remove or obscure characters from the social security number such that the social security number is not discernable on the instrument.
224.30(4)(c)
(c) If the department is presented with an instrument for recording in the system that contains an individual's social security number, and if the department records the instrument but does not discover that the instrument contains the individual's social security number until after the instrument is recorded, the department is not liable for the instrument drafter's placement of the individual's social security number on the instrument and the department may remove or obscure characters from the social security number such that the social security number is not discernable on the instrument.
224.30(4)(d)
(d) If the department records an instrument in the system that contains the complete social security number of an individual, the instrument drafter is liable to the individual whose social security number appears in the recorded instrument for any actual damages resulting from the instrument being recorded.
224.30(5)(a)
(a) In this subsection, “filing" means the submission to the department of any form, instrument, application, report, notice, or other information required or permitted to be submitted to the department for retention in the department's records.
224.30(5)(b)
(b) Subject to par.
(c), the department may require any filing to be made electronically in a manner prescribed by the department. Subject to par.
(c), if the department requires that a filing be made electronically, the department may require that any fee associated with the filing be paid using a suitable method prescribed by the department.
224.30(5)(c)
(c) The department may waive any requirement imposed under par.
(b) if all of the following apply:
224.30(5)(c)1.
1. The person affected by the requirement makes a written request to the department, in a manner prescribed by the department, that the requirement be waived and clearly states in the request why the requirement causes the person undue hardship.
224.30(5)(c)2.
2. The department determines, in its discretion, that the requirement, if imposed on the person, would cause the person undue hardship.
224.40
224.40
Disclosure of financial records for child support enforcement. 224.40(2)
(2) Financial record matching agreements. A financial institution is required to enter into an agreement with the department of children and families in accordance with rules promulgated under s.
49.853 (2).
224.40(3)
(3) Limited liability. A financial institution is not liable for any of the following:
224.40(3)(a)
(a) Disclosing a financial record of an individual to the county child support agency attempting to establish, modify or enforce a child support obligation of the individual.
224.40(3)(b)
(b) Disclosing information to the department of children and families or a county child support agency pursuant to the financial record matching program under s.
49.853.
224.40(3)(c)
(c) Encumbering or surrendering any assets held by the financial institution in response to instructions provided by the department of children and families or a county child support agency for the purpose of enforcing a child support obligation.
224.40 History
History: 1997 a. 191;
2007 a. 20.
224.42
224.42
Disclosure of financial records for Medical Assistance and food stamp program eligibility. 224.42(2)
(2) Financial record matching agreements. A financial institution is required to enter into an agreement with the department of health services under ss.
49.45 (4m) and
49.79 (1t).
224.42(3)
(3) Limited liability. A financial institution is not liable for any of the following:
224.42(3)(a)
(a) Disclosing a financial record of an individual or other information to the department of health services in accordance with an agreement, and its participation in the program, under s.
49.45 (4m) or
49.79 (1t).
224.44
224.44
Disclosure of financial records for collection of unemployment insurance debt. 224.44(2)
(2) Financial record matching agreements. A financial institution is required to enter into an agreement with the department of workforce development under s.
108.223.
224.44(3)
(3) Limited liability. A financial institution is not liable for any of the following:
224.44(3)(a)
(a) Disclosing a financial record of an individual or other information to the department of workforce development in accordance with an agreement, and its participation in the program, under s.
108.223.
224.44 History
History: 2013 a. 36.
224.46
224.46
Independent data processing servicers. 224.46(1)(b)
(b) “Independent data processing servicer" means an entity that provides to a financial institution electronic data processing services, but not including the exchange of data and settlement of funds between 2 or more unaffiliated financial institutions resulting from transactions involving remote terminals under s.
186.113 (15), remote service units under s.
214.04 (21) or
215.13 (46), or customer bank communications terminals under s.
221.0303 (2).
224.46(1)(c)
(c) “Interface agreement" means a written agreement specifying the terms and conditions under which an interface of communications, data, or systems between independent data processing servicers shall be accomplished.
224.46(2)
(2) Ownership of financial institution data. If a financial institution transfers or otherwise makes available to an independent data processing servicer any data from the financial institution's records, this data shall remain the property of the financial institution. The independent data processing servicer has no right, title, or interest in, or claim to legal ownership of, the data. The transfer of the data by the financial institution authorizes the independent data processing servicer only to exercise temporary control of the data for the limited purpose of performing the contracted services requested by the financial institution. This subsection also applies with respect to an independent data processing servicer that receives a financial institution's data under an interface agreement or other agreement with another independent data processing servicer.
224.46(3)
(3) Contract disclosures by independent data processing servicers. No independent data processing servicer may enter into a contract with a financial institution, or renew or amend such a contract, unless the contract discloses, in separate contract provisions, all of the following:
224.46(3)(a)
(a) All fees or charges, including any fee schedule, that the independent data processing servicer may impose on the financial institution.
224.46(3)(b)
(b) Any formula or other grounds that the independent data processing servicer may apply or rely upon to terminate the contract.
224.46 History
History: 2019 a. 65.
224.48
224.48
College tuition and expenses program. 224.48(1)(a)
(a) “Board" means the board of regents of the University of Wisconsin System.
224.48(1)(am)
(am) “Department” means the department of financial institutions.
224.48(1)(b)
(b) “Institution of higher education" means an eligible educational institution, as defined under
26 USC 529.
224.48(2)
(2) Weighted average tuition; tuition unit cost. Annually, the department and the board jointly shall determine all of the following:
224.48(2)(a)
(a) The weighted average tuition of bachelor's degree-granting institutions within the University of Wisconsin System for the academic year that begins on or after the first day of August of the current year. The amount shall be calculated as follows:
224.48(2)(a)1.
1. For each such institution, multiply the tuition charged a full-time undergraduate who is a resident of this state by the number of full-time equivalent resident undergraduates attending the institution.
224.48(2)(a)3.
3. Divide the sum under subd.
2. by the total number of full-time equivalent resident undergraduates attending such institutions.
224.48(2)(b)
(b) The price of a tuition unit, which shall be valid for a period determined jointly by the department and the board. The price shall be sufficient to ensure the ability of the department to meet its obligations under this section. To the extent possible, the price shall be set so that the value of the tuition unit in the anticipated academic year of its use will be equal to 1 percent of the weighted average tuition for that academic year plus the costs of administering the program under this section attributable to the unit.
224.48(3)
(3) College tuition and expenses contracts. 224.48(3)(a)(a) An individual, trust, legal guardian, or entity described under
26 USC 529 (e) (1) (C) may enter into a contract with the department for the sale of tuition units on behalf of a beneficiary.
224.48(3)(b)
(b) The contract shall specify the anticipated academic year of the beneficiary's initial enrollment in an institution of higher education.
224.48(3)(c)
(c) The department may charge a purchaser an enrollment fee.
224.48(3)(d)
(d) The department shall promulgate rules authorizing a person who has entered into a contract under this subsection to change the beneficiary named in the contract.
224.48(4)
(4) Number of tuition units purchased. A person who enters into a contract under sub.
(3) may purchase tuition units at any time and in any number, or may authorize a parent, grandparent, great-grandparent, aunt, or uncle of the beneficiary to purchase tuition units, except that the total number of tuition units purchased on behalf of a single beneficiary may not exceed the number necessary to cover tuition, fees and the costs of room and board, books, supplies and equipment required for enrollment or attendance of the beneficiary at an institution of higher education.
224.48(5)(a)
(a) Except as provided in sub.
(7m), if an individual named as beneficiary in a contract under sub.
(3) attends an institution of higher education in the United States, each tuition unit purchased on his or her behalf entitles that beneficiary to apply toward the payment of tuition, fees and the costs of room and board, books, supplies and equipment required for enrollment or attendance at the institution an amount equal to 1 percent of the anticipated weighted average tuition of bachelor's degree-granting institutions within the University of Wisconsin System for the year of attendance, as estimated under sub.
(2) in the year in which the tuition unit was purchased.
224.48(5)(b)
(b) Upon request by the beneficiary, the department shall pay to the institution or beneficiary, whichever is appropriate, in each semester of attendance the lesser of the following:
224.48(5)(b)1.
1. An amount equal to the value of each tuition unit, as determined under par.
(a), multiplied by the number of tuition units purchased on behalf of the beneficiary and not used.
224.48(5)(b)2.
2. An amount equal to the sum of the institution's tuition, fees and the costs described in par.
(a) for that semester.
224.48(6)(a)
(a) A contract under sub.
(3) may be terminated by the person entering into the contract if any of the following occurs:
224.48(6)(a)2.
2. The beneficiary graduates from high school but is unable to gain admission to an institution of higher education after a good faith effort.
224.48(6)(a)3.
3. The beneficiary attended an institution of higher education but involuntarily failed to complete the program in which he or she was enrolled.
224.48(6)(a)4.
4. The beneficiary is at least 18 years old and one of the following applies:
224.48(6)(a)4.b.
b. The beneficiary has decided not to attend an institution of higher education.
224.48(6)(a)4.c.
c. The beneficiary attended an institution of higher education but voluntarily withdrew without completing the program in which he or she was enrolled.
224.48(6)(a)5.
5. Other circumstances determined by the department to be grounds for termination.
224.48(6)(b)
(b) The department may terminate a contract under sub.
(3) if any of the tuition units purchased under the contract remain unused 10 years after the anticipated academic year of the beneficiary's initial enrollment in an institution of higher education, as specified in the contract.
224.48(7)(a)
(a) Except as provided in sub.
(7m), the department shall do all of the following:
224.48(7)(a)1.
1. When a beneficiary completes the program in which he or she is enrolled, if the beneficiary has not used all of the tuition units purchased on his or her behalf, refund to the person who entered into the contract an amount equal to 1 percent of the anticipated weighted average tuition in the academic year in which the beneficiary completed the program, as estimated under sub.
(2) in the year in which the tuition units were purchased, multiplied by the number of tuition units purchased by the person and not used by the beneficiary.
224.48(7)(a)2.
2. If a contract is terminated under sub.
(6) (a) 1.,
2. or
3., refund to the person who entered into the contract an amount equal to 1 percent of the anticipated weighted average tuition in the academic year in which the contract is terminated, as estimated under sub.
(2) in the year in which the tuition units were purchased, multiplied by the number of tuition units purchased by the person and not used by the beneficiary.
224.48(7)(a)3.
3. If a contract is terminated under sub.
(6) (a) 4. or
(b), refund to the person who entered into the contract an amount equal to 99 percent of the amount determined under subd.
2.
