217.01   Title.
217.02   Definitions.
217.03   License required.
217.04   Exemptions.
217.05   Application and fees.
217.06   Licenses, how granted; conditions.
217.07   Order denying application.
217.08   License procedures.
217.09   Revocation; suspension; reinstatement and term of licenses.
217.10   Powers of division.
217.11   Duties of licensees.
217.12   Prohibitions.
217.13   Other statute applicable.
217.14   Liability of licensees.
217.15   Delinquent seller of checks.
217.16   Penalties.
217.17   Testimonial powers.
217.18   Power to secure evidence.
217.19   Division orders; rules of procedure.
217.20   Court review.
217.21   Records; reports.
217.01 217.01 Title. This chapter shall be known and may be cited as the “Seller of Checks Law".
217.02 217.02 Definitions. In this chapter, unless the context requires otherwise:
217.02(1) (1)“Authorized agent" is a person who is authorized by a licensee to sell its checks.
217.02(2) (2)“Check" means any check, draft, money order, traveler's check, personal money order or other instrument for the transmission or payment of money.
217.02(2m) (2m)“Division" means the division of banking.
217.02(3) (3)“General order" means an order of the division other than a special order.
217.02(4) (4)“Licensee" means a person licensed under this chapter.
217.02(5) (5)“Location" includes each place in this state where business as a seller of checks is conducted, including any office of the licensee and the place of business of any authorized agent of the licensee.
217.02(7) (7)“Personal money order" means any instrument for the transmission or payment of money in relation to which the purchaser or remitter appoints or purports to appoint the seller thereof as the purchaser's or remitter's agent for the receipt, transmission or handling of money, whether such instrument is signed by the seller or by the purchaser or remitter or some other person.
217.02(8) (8)“Sell" means to sell, issue or deliver a check.
217.02(9) (9)“Seller of checks" means a person who, as a service or for a fee or other consideration, engages in the business of selling and issuing checks or the receiving of money for transmission or the transmitting of money, or the transmitting of money to foreign countries.
217.02(10) (10)“Special order" means an order of the division to or affecting a person.
217.02 History History: 1983 a. 189; 1991 a. 316; 1995 a. 27; 2005 a. 158.
217.03 217.03 License required.
217.03(1)(1)No person shall, as a service or for a fee or other consideration, engage in the business as a seller of checks without first securing a license from the division to do so.
217.03(2) (2)The licensee shall be liable on checks duly issued for it by each authorized agent and shall furnish each such agent not exempt under s. 217.04 with an authorization in the form approved by the division in lieu of a license from the division, to be displayed in the agent's place of business indicating that it is an authorized agent of the licensee. An agent so authorized by a licensee shall not be required to secure a license.
217.03 History History: 1991 a. 316; 1995 a. 27.
217.03 Annotation Wisconsin has a compelling interest in applying statutory regulations to banking activities on Indian reservations. 80 Atty. Gen. 337.
217.04 217.04 Exemptions. This chapter does not apply to any of the following:
217.04(1) (1)Banks organized under the laws of this state or authorized to do business in this state with respect to checks sold in a bank.
217.04(2) (2)Credit unions, with respect to checks sold in the credit union office, except as provided in s. 186.113 (22).
217.04(3) (3)Savings and loan associations with respect to checks sold in the savings and loan office, except as provided by s. 215.13 (41).
217.04(4) (4)U.S. post-office money orders.
217.04(5) (5)Savings banks with respect to checks sold in the savings bank office, except as provided under s. 214.04 (20).
217.04 History History: 1991 a. 221; 1995 a. 151.
217.05 217.05 Application and fees.
217.05(1)(1)Each application for a license shall be made in writing and under oath to the division and shall contain such information and be in such form as the division prescribes. The application shall state the full name and business address of:
217.05(1)(a) (a) The applicant, if the applicant is an individual.
217.05(1)(b) (b) Every member, if the applicant is a partnership, limited liability company or association.
217.05(1)(c) (c) Every trustee and officer if the applicant is a trust.
217.05(1)(d) (d) The corporation and each officer and director thereof, if the applicant is a corporation.
217.05(1m) (1m)
217.05(1m)(a)(a) In addition to the information required under sub. (1) and except as provided in par. (c), the application shall contain the following:
217.05(1m)(a)1. 1. If the applicant is an individual, the applicant's social security number.
217.05(1m)(a)2. 2. If the applicant is not an individual, the applicant's federal employer identification number.
2021-22 Wisconsin Statutes updated through 2023 Wis. Act 33 and through all Supreme Court and Controlled Substances Board Orders filed before and in effect on September 14, 2023. Published and certified under s. 35.18. Changes effective after September 14, 2023, are designated by NOTES. (Published 9-14-23)