SB119,182 Section 182. 34.08 of the statutes is amended to read:

SB119,43,7 34.08 Payment of losses. (1) Except as provided in sub. (2), the appropriation in s. 20.144 (1) 20.142 (2) (a) shall be used to repay public depositors for losses until the appropriation is exhausted.

SB119,43,18 (2) Payments under sub. (1) shall be made in the order in which satisfactory proofs of loss are received by the division of banking department of financial institutions and professional standards. The payment made to any public depositor for all losses of the public depositor in any individual public depository may not exceed $400,000 above the amount of deposit insurance provided by an agency of the United States at the public depository that experienced the loss. Upon a satisfactory proof of loss, the division of banking department of financial institutions and professional standards shall direct the department of administration to draw its warrant payable from the appropriation under s. 20.144 (1) 20.142 (2) (a) and the secretary of administration shall pay the warrant under s. 16.401 (4) in favor of the public depositor that has submitted the proof of loss.

SB119,44,2 (3) Losses become fixed as of the date of loss. A public depositor experiencing a loss shall, within 60 days of the loss, assign its interest in the deposit, to the extent of the amount paid under this section, to the division of banking department of financial institutions and professional standards. Upon failure to make the assignment, the public depositor shall forfeit its right to payment under this section. Any recovery made by the division of banking department of financial institutions and professional standards under the assignment shall be repaid to the appropriation under s. 20.144 (1) 20.142 (2) (a).

SB119,183 Section 183. 34.10 of the statutes is amended to read:

SB119,45,9 34.10 Reorganization and stabilization of financial institutions. Whenever the office of credit unions, administrator of federal credit unions, U.S. comptroller of the currency, federal home loan bank board, U.S. office of thrift supervision, federal deposit insurance corporation, resolution trust corporation, or division of banking department of financial institutions and professional standards has taken charge of a credit union, bank, savings bank, or savings and loan association with a view of restoring its solvency, pursuant to law, or with a view of stabilizing and readjusting the structure of any national or state credit union, bank, savings bank, or savings and loan association located in this state, and has approved a reorganization plan or a stabilization and readjustment agreement entered into between the credit union, bank, savings bank, or savings and loan association and depositors and unsecured creditors, or when a credit union, bank, savings bank, or savings and loan association, with the approval of the office of credit unions, administrator of federal credit unions, U.S. comptroller of the currency, federal home loan bank board, U.S. office of thrift supervision, federal deposit insurance corporation, resolution trust corporation, or division of banking department of financial institutions and professional standards proposes to sell its assets to another credit union, bank, savings bank, or savings and loan association which agrees to assume a part or all of the deposit liability of such selling credit union, bank, savings bank, or savings and loan association and to pay the same on a deferred payment basis, the governing board of the public depositor may, on the approval of the division of banking department of financial institutions and professional standards, join in the execution of any reorganization plan, or any stabilization and readjustment agreement, or any depositor's agreement relative to a proposed sale of assets if, in its judgment and that of the division of banking department of financial institutions and professional standards, the reorganization plan or stabilization and readjustment agreement or proposed sale of assets is in the best interest of all persons concerned. The joining in any reorganization plan, or any stabilization and readjustment agreement, or any proposed sale of assets which meets the approval of the division of banking department of financial institutions and professional standards does not waive any rights under this chapter.

SB119,184 Section 184. 36.34 (1) (a) 3. of the statutes is amended to read:

SB119,45,11 36.34 (1) (a) 3. Is a Hispanic, as defined in s. 16.287 203.07 (1) (d).

SB119,185 Section 185. 38.04 (8) (a) of the statutes is amended to read:

SB119,45,14 38.04 (8) (a) In this subsection, "minority group member" has the meaning given in s. 16.287 203.07 (1) (f).

SB119,186 Section 186. 38.26 (1) of the statutes is amended to read:

SB119,45,17 38.26 (1) In this section, "minority student" means a student enrolled in a district school who is a minority group member, as defined in s. 16.287 203.07 (1) (f).

SB119,187 Section 187. 38.50 (title) of the statutes is repealed.

SB119,188 Section 188. 38.50 (1) (intro.), (b), (c), (d) and (e) of the statutes are renumbered 440.52 (1) (intro.), (b), (c), (d) and (e), and 440.52 (1) (e) 8., as renumbered, is amended to read:

SB119,45,23 440.52 (1) (e) 8. Schools accredited by accrediting agencies recognized by the board department.

SB119,189 Section 189. 38.50 (1) (a) of the statutes is repealed.

SB119,190 Section 190. 38.50 (1) (f) of the statutes is repealed.

SB119,191 Section 191. 38.50 (1) (g) of the statutes is repealed.

SB119,192 Section 192. 38.50 (2) of the statutes is renumbered 440.52 (2) and amended to read:

SB119,46,13 440.52 (2) Responsibilities. The board department shall protect the general public by inspecting and approving authorizing any private trade, correspondence, business, and technical schools school seeking funding under 20 USC 1070 to 1099d, doing business within in this state, whether located within or outside this state, changes of ownership or control of the schools, teaching locations used by the schools, and courses of instruction offered by the schools and regulate the soliciting of students for correspondence or classroom courses and courses of instruction offered by the schools and the department may authorize any other private trade, correspondence, business, or technical school, doing business within or outside this state, that seeks authorization from the state.

SB119,193 Section 193. 38.50 (3) of the statutes is renumbered 440.52 (3) and amended to read:

SB119,46,17 440.52 (3) Rule-making power. The board department shall promulgate rules and establish standards necessary to administer this section.

SB119,194 Section 194. 38.50 (5) of the statutes is repealed.

SB119,195 Section 195. 38.50 (7) of the statutes is repealed.

SB119,196 Section 196. 38.50 (8) of the statutes is repealed.

SB119,197 Section 197. 38.50 (10) of the statutes is repealed.

SB119,198 Section 198. 38.50 (11) of the statutes is renumbered 440.52 (11), and 440.52 (11) (b) 1., (c) and (d), as renumbered, are amended to read:

SB119,47,6 440.52 (11) (b) 1. If a school operating in this state discontinues its operations, proposes to discontinue its operations, or is in imminent danger of discontinuing its operations as determined by the board department, if the student records of the school are not taken into possession under subd. 2., and if the board department determines that the student records of the school are in danger of being destroyed, secreted, mislaid, or otherwise made unavailable to the persons who are the subjects of those student records or the authorized representatives of those persons, the board department may take possession of those student records.

SB119,47,11 (c) If necessary to protect student records from being destroyed, secreted, mislaid, or otherwise made unavailable to the persons who are the subjects of those student records or the authorized representatives of those persons, the board department or association may seek a court order authorizing the board department or association to take possession of those student records.