AB150-engrossed, s. 6735 Section 6735. 551.59 (6) (a) of the statutes is amended to read:

AB150-engrossed,2259,4 551.59 (6) (a) No purchaser may commence an action under this section if, before suit is commenced, the purchaser has received a written offer stating the respect in which liability under this section may have arisen and fairly advising the purchaser of his or her rights; offering to repurchase the security for cash payable on delivery of the security equal to the consideration paid, together with interest at the legal rate under s. 138.04 from the date of payment, less the amount of any income received thereon or, if the purchaser no longer owns the security, offering to pay the purchaser upon acceptance of the offer an amount in cash equal to the damages computed in accordance with sub. (1); and stating that the offer may be accepted by the purchaser at any time within a specified period of not less than 30 days after the date of receipt thereof or such shorter period as the commissioner division may by rule prescribe; and the purchaser has failed to accept such offer in writing within the specified period.

AB150-engrossed, s. 6736 Section 6736. 551.59 (6) (c) of the statutes is amended to read:

AB150-engrossed,2259,11 551.59 (6) (c) Offers shall be in the form and contain the information the commissioner division by rule prescribes. Every offer under this subsection shall be delivered to the offeree or sent by certified mail addressed to the offeree at the offeree's last-known address. If an offer is not performed in accordance with its terms, suit by the offeree under this section shall be permitted without regard to this subsection.

AB150-engrossed, s. 6737 Section 6737. 551.60 (title) of the statutes is amended to read:

AB150-engrossed,2259,13 551.60 (title) Miscellaneous powers of commissioner.

AB150-engrossed, s. 6738 Section 6738. 551.60 (1) of the statutes is amended to read:

AB150-engrossed,2259,19 551.60 (1) The commissioner division may by rule or order require any issuer of securities registered or exempted by order of the commissioner division under this chapter or predecessor laws to file with the commissioner division and distribute to its security holders in this state at least annually specified financial or other information concerning the issuer.

AB150-engrossed, s. 6739 Section 6739. 551.60 (2) (a) of the statutes is amended to read:

AB150-engrossed,2259,25 551.60 (2) (a) If the commissioner division has reason to believe that any offer or sale of an unregistered security is, has been or would be unfair, inequitable or fraudulent to offerees or purchasers, the commissioner division may by order summarily prohibit further offers or sales of such security in this state until it is registered under this chapter.

AB150-engrossed, s. 6740 Section 6740. 551.60 (2) (b) of the statutes is amended to read:

AB150-engrossed,2260,6 551.60 (2) (b) If the commissioner division has reason to believe that any security is being or has been offered or sold in this state by any unlicensed person in violation of this chapter or any rule or order hereunder, the commissioner division may by order summarily prohibit such person from further offers or sales of securities in this state until licensed under this chapter.

AB150-engrossed, s. 6741 Section 6741. 551.60 (2) (c) of the statutes is amended to read:

AB150-engrossed,2260,13 551.60 (2) (c) If the commissioner division has reason to believe that any unlicensed person is transacting or has transacted business in this state as an investment adviser in violation of this chapter or any rule or order promulgated under this chapter, the commissioner division may by order summarily prohibit such person from further engaging in such activity in this state until licensed under this chapter.

AB150-engrossed, s. 6742 Section 6742. 551.60 (3) of the statutes is amended to read:

AB150-engrossed,2261,5 551.60 (3) If the public interest and the protection of investors so require, the commissioner division may by order summarily suspend all trading in this state by broker-dealers and agents in any security for any period specified. No broker-dealer or agent may effect any transaction in, or induce or attempt to induce the purchase or sale of, any security in this state in which trading is so suspended, except in performance of a contract previously entered into. At any time after the issuance of an order under this subsection, any interested person may in writing request that the suspension of trading be vacated. Upon the receipt of a written request, the matter shall be noticed for hearing and a hearing shall be held in the manner provided in s. 551.61 (2). After the hearing, the commissioner division may order the suspension to be continued until modified or vacated by further order upon a finding that trading in the security will be unfair or inequitable or will tend to work a fraud upon the purchasers or sellers of the security. Otherwise, the commissioner division shall vacate the suspension of trading and no further order may be entered under this subsection with respect to the same security in the absence of changed circumstances justifying an order.

AB150-engrossed, s. 6743 Section 6743. 551.60 (4) of the statutes is amended to read:

AB150-engrossed,2261,15 551.60 (4) Every corporation, partnership or association having its principal office in this state or whose securities have been registered under this chapter or predecessor laws shall, within 20 days after receipt of written request from the commissioner division made in connection with any investigation under s. 551.56 (1), furnish the commissioner division with a list of all or part of its security holders as the commissioner division requests, showing the amount of securities held by each security holder and the date of issuance of such securities and information reasonably related thereto, signed by the president, secretary or partner of the issuer or a person occupying a similar status or performing similar functions.

AB150-engrossed, s. 6744 Section 6744. 551.60 (5) of the statutes is amended to read:

AB150-engrossed,2261,18 551.60 (5) The commissioner division may take such action as is authorized under 7 USC 13a-2, as amended.

AB150-engrossed, s. 6745 Section 6745. 551.605 (1) (a) (intro.) of the statutes is amended to read:

AB150-engrossed,2261,24 551.605 (1) (a) (intro.) The commissioner division or any officer designated by the commissioner division may impose an administrative assessment in the amount provided in par. (b) on any person who is subject to an order that is issued under s. 551.24, 551.28, 551.34, 551.53, 551.60 or 551.63 (1) and (2) in any of the following circumstances:

AB150-engrossed, s. 6746 Section 6746. 551.605 (1) (a) 1. of the statutes is amended to read:

AB150-engrossed,2262,3 551.605 (1) (a) 1. Following a hearing under s. 551.61 if the notice delivered to all interested parties includes notice of the commissioner's division's authority to impose an administrative assessment under this subsection.

AB150-engrossed, s. 6747 Section 6747. 551.605 (1) (c) of the statutes is amended to read:

AB150-engrossed,2262,7 551.605 (1) (c) The commissioner division shall include any administrative assessment imposed under this subsection in the order issued under any of the sections referred to in par. (a) in the manner described in par. (a) 1. or 2.

AB150-engrossed, s. 6748 Section 6748. 551.605 (1) (d) of the statutes is amended to read:

AB150-engrossed,2262,12 551.605 (1) (d) Upon the request of the commissioner division, the department of justice may bring a civil action in the circuit court for Dane county to compel payment of any unpaid administrative assessment, unless payment of the administrative assessment is stayed under s. 227.54.

AB150-engrossed, s. 6749 Section 6749. 551.605 (2) of the statutes is amended to read: