AB150-engrossed, s. 6852 Section 6852. 553.55 (2) of the statutes is amended to read:

AB150-engrossed,2292,7 553.55 (2) For the purpose of any investigation or proceeding under this chapter, the commissioner division or any officer designated by the commissioner division may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence and require the production of any books, papers, correspondence, memoranda, agreements or other documents or records which the commissioner division deems relevant or material to the inquiry. Failure to obey a subpoena or give evidence may be dealt with under s. 885.12.

AB150-engrossed, s. 6853 Section 6853. 553.55 (3) (a) of the statutes is amended to read:

AB150-engrossed,2292,18 553.55 (3) (a) No person is excused from attending and testifying or from producing any document or record before the commissioner division, or in obedience to the subpoena of the commissioner division or any officer designated by the commissioner division, or in any proceeding instituted by the commissioner division, on the ground that the testimony or evidence required of the person may tend to incriminate the person or subject the person to a penalty or forfeiture. No individual may be prosecuted or subjected to any penalty or forfeiture for or on account of his or her testimony or evidence, after claiming his or her privilege against self-incrimination, except that the individual testifying is not exempt from prosecution and punishment for perjury or contempt committed in testifying.

AB150-engrossed, s. 6854 Section 6854. 553.56 (1) of the statutes is amended to read:

AB150-engrossed,2292,23 553.56 (1) Except as provided by sub. (2), no order may be entered by the commissioner division under s. 553.24, 553.28 or 553.53 (2) without appropriate prior notice to all interested parties, opportunity for hearing and written findings of fact and conclusions of law.

AB150-engrossed, s. 6855 Section 6855. 553.56 (2) of the statutes is amended to read:

AB150-engrossed,2293,8 553.56 (2) Within 30 days after the commissioner division has issued an order summarily, an interested party may apply to the commissioner division for a hearing in respect to any matters determined by the order. Within 10 days after an interested party files a written request with the commissioner division for a hearing the matter shall be noticed for a hearing, and a hearing shall be held within 60 days after notice unless extended by the commissioner division for good cause. During the pendency of any hearing requested under this subsection, the order issued summarily shall remain in effect unless vacated or modified by the commissioner division.

AB150-engrossed, s. 6856 Section 6856. 553.56 (3) of the statutes is amended to read:

AB150-engrossed,2293,15 553.56 (3) After a hearing, the commissioner division may issue a final order as appropriate. The final order may affirm, vacate or modify an order issued summarily in effect during the pendency of the hearing as appropriate, or may include such other sanctions as are provided for under s. 553.24 or 553.28. An order issued summarily against a party becomes a final order if the party fails to request a hearing under sub. (2) or if the party defaults after requesting a hearing.

AB150-engrossed, s. 6857 Section 6857. 553.56 (5) of the statutes is amended to read:

AB150-engrossed,2293,20 553.56 (5) Orders and other official acts of the commissioner division are subject to judicial review under ch. 227 but orders originally entered without a hearing under s. 553.24, 553.28 or 553.60 may be reviewed only if the party seeking review has requested a hearing within the time provided by sub. (2).

AB150-engrossed, s. 6858 Section 6858. 553.57 of the statutes is amended to read:

AB150-engrossed,2294,2 553.57 Enforcement of criminal penalties. The commissioner division may refer such evidence as is available concerning any violation of this chapter or of any rule or order hereunder to the district attorney of the county in which the violation occurred, or to the attorney general, who may, with or without any reference, institute the appropriate criminal proceedings under this chapter.

AB150-engrossed, s. 6859 Section 6859. 553.58 (1) of the statutes is amended to read:

AB150-engrossed,2294,16 553.58 (1) The commissioner division may make, amend and rescind any rules, forms and orders that are necessary to carry out this chapter, including rules and forms governing registration statements, applications and reports, defining any terms, whether or not used in this chapter, insofar as the definitions are not inconsistent with this chapter. The commissioner division may define by rule false, fraudulent or deceptive practices in the offer and sale of franchises. The commissioner division may also adopt rules with regard to advertising utilized in connection with exempt sales under s. 553.22, 553.23 or 553.235 and which need not be filed under s. 553.53. For the purpose of rules and forms, the commissioner division may classify franchises, persons and matters within the commissioner's division's jurisdiction, and prescribe different requirements for different classes. Rules shall be made and published and all administrative procedures, including hearings under s. 553.56 and issuance of orders, shall be in accordance with ch. 227.

AB150-engrossed, s. 6860 Section 6860. 553.58 (2) of the statutes is amended to read:

AB150-engrossed,2294,21 553.58 (2) No rule, form or order may be made, amended or rescinded unless the commissioner division finds that the action is necessary or appropriate in the public interest or for the protection of investors. In adopting rules and forms the commissioner division may cooperate with official administrators of other states.

AB150-engrossed, s. 6861 Section 6861. 553.58 (3) of the statutes is amended to read:

AB150-engrossed,2295,3 553.58 (3) The commissioner division may by rule or order prescribe the form and content of financial statements required under this chapter, the circumstances under which consolidated financial statements shall be filed, and whether any required financial statements shall be certified by independent or certified public accountants. All financial statements shall be prepared in accordance with generally accepted accounting practices unless otherwise permitted by rule or order.

AB150-engrossed, s. 6862 Section 6862. 553.58 (4) of the statutes is amended to read:

AB150-engrossed,2295,8 553.58 (4) No provision of this chapter imposing any liability applies to any act done or omitted in good faith in conformity with any rule, form or order of the commissioner division, notwithstanding that the rule, form or order may later be amended or rescinded or be determined to be invalid for any reason.

AB150-engrossed, s. 6863 Section 6863. 553.58 (5) of the statutes is amended to read:

AB150-engrossed,2295,15 553.58 (5) All orders shall take effect when made and filed or at such later time as the commissioner division prescribes, and the commissioner division shall, upon making and filing such order, forthwith deliver personally or by mail a copy thereof to every person to whom such order relates at the person's last-known address as it appears on the records of the office of the commissioner division and that delivery shall constitute notice thereof.

AB150-engrossed, s. 6864 Section 6864. 553.60 of the statutes is amended to read:

AB150-engrossed,2295,21 553.60 (title) Miscellaneous powers of the commissioner. The commissioner division may by order summarily prohibit offers or sales of a franchise subject to s. 553.21 (1) which are being or have been made in this state, unless the offer or sale of the franchise is registered or exempted from registration under this chapter.

AB150-engrossed, s. 6865 Section 6865. 553.605 (1) (a) (intro.) of the statutes is amended to read:

AB150-engrossed,2296,2 553.605 (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. 553.24, 553.28, 553.53, 553.58 (1) and (2) or 553.60 in any of the following circumstances:

AB150-engrossed, s. 6866 Section 6866. 553.605 (1) (a) 1. of the statutes is amended to read: