AB617,63 Section 63 . 218.0114 (4) of the statutes is renumbered 218.0114 (4) (a) and amended to read:

AB617,71,25 218.0114 (4) (a) Application for a license under this section shall be made to the licensor, at such time, in such form and with such information as the licensor shall require and shall be accompanied by the required fees. The division of banking shall utilize the nationwide multistate licensing system and registry, and the provisions of s. 224.35 shall apply, with respect to sales finance company applicants and licensees, other than motor vehicle dealers.

AB617,72,6 (b) An applicant for a sales finance company license, other than a motor vehicle dealer, shall pay to the division of banking a nonrefundable $300 investigation fee in addition to the license fee under sub. (16). If the cost of an investigation exceeds $300, the applicant shall, upon demand of the division of banking, pay the amount by which the cost of the investigation exceeds the nonrefundable fee. A licensee is not required to pay an investigation fee for the renewal of a license.

AB617,72,13 (c) The licensor may require the applicant to provide information relating to any pertinent matter that is commensurate with the safeguarding of the public interest in the locality in which the applicant proposes to engage in business, except that information relating to the applicant's solvency and financial standing may not be required for motor vehicle dealers except as provided in sub. (20) (a). The information provided may be considered by the licensor in determining the fitness of the applicant to engage in business as set forth in ss. 218.0101 to 218.0163.

AB617,64 Section 64. 218.0114 (4g) and (4m) of the statutes are created to read:

AB617,72,18 218.0114 (4g) A sales finance company, other than a motor vehicle dealer, shall keep current and accurate all material information on file with the division of banking and the nationwide multistate licensing system and registry as provided in s. 224.35 (6).

AB617,72,20 (4m) A sales finance company, other than a motor vehicle dealer, shall submit financial statements as provided in s. 224.35 (8).

AB617,65 Section 65. 218.0114 (5) (b) of the statutes is amended to read:

AB617,73,5 218.0114 (5) (b) A sales finance company or an applicant for a sales finance company license shall provide and maintain in force a bond or irrevocable letter of credit of in a form acceptable to the division of banking in an amount that is not less than $25,000 issued by a surety company licensed to do business in this state or a federally insured financial institution, as defined in s. 705.01 (3). The bond or letter of credit shall be payable to the state of Wisconsin for the use of the state and of any person who sustains a loss because of an act of a sales finance company that constitutes grounds for the suspension or revocation of a license under ss. 218.0101 to 218.0163.

AB617,66 Section 66. 218.0114 (13) (a) of the statutes is amended to read:

AB617,73,12 218.0114 (13) (a) Licenses A license described in sub. (16) expire expires on December 31 of the calendar year for which the licenses are granted in which the initial license term began, unless the initial license date is between November 1 and December 31, in which instance the initial license term shall run through December 31 of the following year. A license may be renewed or reinstated as provided in s. 224.35 (7).

AB617,67 Section 67 . 218.0114 (17) of the statutes is renumbered 218.0114 (17) (a) and amended to read:

AB617,73,21 218.0114 (17) (a) The licenses of dealers, manufacturers, factory branches, distributors, and distributor branches and sales finance companies shall specify the location of the office or branch and must be conspicuously displayed at that location. In case the location of the office or branch is changed, the licensor shall endorse the change of location on the license, without charge, if the new location is within the same municipality as the previous location. A change of location to another municipality shall require a new license, except for sales finance companies.

AB617,68 Section 68 . 218.0114 (17) (b) of the statutes is created to read:

AB617,74,2 218.0114 (17) (b) A sales finance company, other than a motor vehicle dealer, shall give written notice to the division of banking, in a form and manner acceptable to the division of banking, within 10 days of any change of location of the office or branch specified in the license.

AB617,69 Section 69 . 218.0114 (20) (c) of the statutes is amended to read:

AB617,74,21 218.0114 (20) (c) An applicant or licensee furnishing information under par. (a) may designate the information as a trade secret, as defined in s. 134.90 (1) (c), or as confidential business information. The licensor shall notify the applicant or licensee providing the information 15 days before any information designated as a trade secret or as confidential business information is disclosed to the legislature, a state agency, as defined in s. 13.62 (2), a local governmental unit, as defined in s. 605.01 (1), or any other person. The applicant or licensee furnishing the information may seek a court order limiting or prohibiting the disclosure, in which case the court shall weigh the need for confidentiality of the information against the public interest in the disclosure. A designation under this paragraph does not prohibit the disclosure of a person's name or address, of the name or address of a person's employer or of financial information that relates to a person when requested under s. 49.22 (2m) by the department of children and families or a county child support agency under s. 59.53 (5). A designation under this paragraph does not prohibit the disclosure of sales finance company application information to the nationwide multistate licensing system and registry, but, except as provided in s. 224.35 (4) (b) and (c), this information shall remain confidential and is not subject to public copying or inspection under s. 19.35 (1).

AB617,70 Section 70 . 218.0114 (21g) (b) 3. of the statutes is created to read:

AB617,74,24 218.0114 (21g) (b) 3. The division of banking may disclose information to the nationwide multistate licensing system and registry as provided in s. 224.35.

AB617,71 Section 71 . 218.0114 (25) of the statutes is created to read:

AB617,75,3 218.0114 (25) A sales finance company, other than a motor vehicle dealer, shall register with, and maintain a valid unique identifier issued by, the nationwide multistate licensing system and registry.

AB617,72 Section 72. 218.0116 (1) (am) of the statutes is amended to read:

AB617,75,8 218.0116 (1) (am) Material Making a material misstatement, or knowingly omitting a material fact, in an application for a license or, in the case of a sales finance company other than a motor vehicle dealer, in information furnished to the nationwide multistate licensing system and registry.

AB617,73 Section 73 . 218.0161 (title) of the statutes is amended to read:

AB617,75,10 218.0161 (title) Penalties; reporting violations.

AB617,74 Section 74 . 218.0161 of the statutes is renumbered 218.0161 (1).

AB617,75 Section 75 . 218.0161 (2) of the statutes is created to read:

AB617,75,18 218.0161 (2) The division of banking may report any enforcement action, any violation of this chapter or of an administrative rule or order, or other relevant information to the nationwide multistate licensing system and registry. Except as provided in s. 224.35 (4) (b) and (c), these reports to the nationwide multistate licensing system and registry shall be confidential and are not subject to public copying or inspection under s. 19.35 (1).

AB617,76 Section 76 . 218.0162 of the statutes is amended to read: