99.03(1)(c)2. 2. A certificate of deposit.
99.03(1)(c)3. 3. Bonds.
99.03(1)(c)4. 4. An irrevocable bank letter of credit issued by a financial institution in this state.
99.03(1)(d) (d) If the warehouse keeper is engaged exclusively in storing wearing apparel, an original or certified copy of a bailee's customers' insurance policy that protects the owners of all stored property against loss or damage by fire, wind, water or theft, that names the department as an additional insured party for the benefit of owners of stored property, that is in a form acceptable to the department and that provides that it may not be terminated except upon 30 days' written notice to the department.
99.03(2) (2) Amount of security required. The aggregate amount of the security required under sub. (1) (a) to (c) shall be not less than the following:
99.03(2)(a) (a) For a Class 1 public warehouse, $10,000.
99.03(2)(b) (b) For a Class 2 public warehouse, $20,000.
99.03(2)(c) (c) For a Class 3 public warehouse, $30,000.
99.03(2)(d) (d) For a Class 4 public warehouse, $40,000.
99.03(2)(e) (e) For a Class 5 public warehouse, $50,000.
99.03(3) (3) Security held by department; release. The department or its agent shall hold security filed under sub. (1) (c). The security shall remain in effect, and the department may not release it, until one of the following occurs:
99.03(3)(a) (a) A period of 180 days elapses after the warehouse keeper gives notice to the department that the warehouse keeper is no longer in business.
99.03(3)(b) (b) A period of 180 days elapses after the warehouse keeper's license expires or is revoked.
99.03(3)(c) (c) The department determines that the warehouse keeper is no longer in business and that all claims of persons storing property at the warehouse have been satisfied.
99.03(4) (4) Use of a deductible clause. Nothing in this section prohibits the use of a deductible clause in any insurance policy by agreement between the public warehouse keeper and the insurer if the insurer remains liable to owners of stored property or their assignees for the deductible portion of any loss or damage to stored property.
99.03(5) (5) Notice of liability limits. At the time a contract to store property is entered into with individuals for the storage of noncommercial personal, family or household goods, the public warehouse keeper shall notify the property owner of any limit on the public warehouse keeper's liability for loss or damage to the property while in storage and of the property owner's responsibility to provide additional coverage if desired.
99.03(6) (6) Insufficient security; department order; license suspension. If the department finds that the security or insurance policy filed by a warehouse keeper does not comply with sub. (2) or that a bond or insurance policy has been canceled without the required notice to the department, the department may summarily suspend the warehouse keeper's license without notice or a hearing. A person adversely affected by an order under this subsection is entitled to a prompt hearing before the department upon request. A request for hearing does not stay an order under this subsection.
99.03 History History: 1983 a. 500 ss. 12, 36; Stats. 1983 s. 99.03; 1989 a. 163.
99.04 99.04 Suitable facilities and inspection.
99.04(1)(1)Facilities. All public warehouse facilities shall be suitable for the type of storage operations to be conducted and shall be maintained and operated in a manner which will reasonably protect property to be stored against loss or damage. No public warehouse keeper license may be issued or continued in effect if facilities used are unsuitable for the type of storage operation to be conducted or adequate safeguards are not taken for the protection of property against loss or damage while in storage. A public warehouse used for the storage of food is subject to ch. 97.
99.04(2) (2) Inspection. The department may inspect all public warehouses as necessary to secure compliance with this chapter or any rules of the department prescribing standards for the suitability of storage facilities, the maintenance of storage records and the safeguarding of property while in storage. For purposes of inspection and enforcement, the department shall have access to all public warehouses regulated under this chapter at all reasonable times.
99.04 History History: 1983 a. 500; 1987 a. 399; 1989 a. 163.
99.05 99.05 Receipts; records; standards.
99.05(1)(1)Receipts. Public warehouse keepers, at the time goods are received for storage, shall issue warehouse or storage receipts identifying goods placed in storage and inform storers of all terms and conditions of storage and may, for this purpose, use standard forms which are accepted in the warehousing industry and comply with the requirements of chs. 401 to 411 and this subchapter.
99.05(2) (2) Records. Every public warehouse keeper shall maintain a record of all property received for storage and of all warehouse or storage receipts issued. Such records shall be open at all reasonable times to inspection by the department. Persons holding an interest in stored property may inspect records relating to the property at reasonable times.
99.05(3) (3) Standards. Public warehouse keepers shall be subject to standards and duties of care as prescribed in s. 407.204 (1) and this chapter, and other provisions of law relating to the storage of goods for hire, including the issuance of warehouse receipts, maintenance of warehouse receipt registers and enforcement of warehouse keepers' liens.
99.05 History History: 1983 a. 500; 1991 a. 148, 304, 315.
99.06 99.06 Injunctions. The department in the name of the state may commence an action to enjoin a violation of this chapter or any rule promulgated under this chapter and may prosecute such violation in any court of appropriate jurisdiction.
99.06 History History: 1983 a. 500 s. 39; Stats. 1983 s. 99.40; 1987 a. 399 s. 362; Stats. 1987 s. 99.06.
99.07 99.07 Penalties.
99.07(1)(1)Except as provided in sub. (2), a person who violates this chapter or rules promulgated under this chapter shall forfeit not less than $100 nor more than $500 for the first violation and not less than $200 nor more than $1,000 for a subsequent violation.
99.07(2) (2)A person who willfully violates this chapter or rules promulgated under this chapter shall be fined not less than $200 nor more than $1,000 or imprisoned not more than 6 months or both.
99.07(3) (3)Each day of violation constitutes a separate offense.
99.07 History History: 1983 a. 500; 1987 a. 399 s. 362; Stats. 1987 s. 99.07.
99.08 99.08 Rule-making authority. The department may promulgate rules that are needed for the administration and enforcement of this chapter.
99.08 History History: 1983 a. 500; 1987 a. 399 s. 362; Stats. 1987 s. 99.08.
99.08 Cross-reference Cross-reference: See also ch. ATCP 97, Wis. adm. code.
2021-22 Wisconsin Statutes updated through 2023 Wis. Act 272 and through all Supreme Court and Controlled Substances Board Orders filed before and in effect on July 9, 2024. Published and certified under s. 35.18. Changes effective after July 9, 2024, are designated by NOTES. (Published 7-9-24)