16,2884 Section 2884. 177.06 (4) of the statutes is amended to read:
177.06 (4) Any property described in sub. (1) that is automatically renewable is matured for purposes of sub. (1) upon the expiration of its initial time period, or after one year if the initial period is less than one year, except that in the case of any renewal to which the owner consents at or about the time of renewal by communicating in writing with the banking or financial organization or otherwise indicating consent as evidenced by a memorandum or other record on file prepared by an employee of the organization, the property is matured upon the expiration of the last time period for which consent was given or one year from the date of the last consent, whichever is longer. If, at the time provided for delivery in s. 177.19 177.17 (4) (a), a penalty or forfeiture in the payment of interest would result from the delivery of the property, the time for delivery is extended until the time when no penalty or forfeiture would result.
16,2885 Section 2885. 177.10 (1) (intro.) of the statutes is amended to read:
177.10 (1) (intro.) Except as provided in subs. (2) and (5), any stock or other intangible ownership interest in a business association, the existence of which is evidenced by records available to the association, is presumed abandoned and, with respect to the interest, the association is the holder, if a dividend, distribution or other sum payable as a result of the interest has remained unclaimed by the owner for 7 5 years and the owner has not done either of the following within 7 5 years:
16,2886 Section 2886. 177.10 (2) and (3) of the statutes are amended to read:
177.10 (2) At the expiration of a 7-year 5-year period following the failure of the owner to claim a dividend, distribution or other sum payable to the owner as a result of the interest, the interest is not presumed abandoned unless there have been at least 7 5 dividends, distributions or other sums paid during the period, none of which has been claimed by the owner. If 7 5 dividends, distributions or other sums are paid during the 7-year 5-year period, the period leading to a presumption of abandonment commences on the date on which payment of the first such unclaimed dividend, distribution or other sum became due and payable. If 7 5 dividends, distributions or other sums are not paid during the presumptive period, the period continues to run until there have been 7 5 dividends, distributions or other sums that have not been claimed by the owner.
(3) The running of the 7-year 5-year period of abandonment ceases immediately upon the occurrence of a communication specified under sub. (1). If any future dividend, distribution or other sum payable to the owner as a result of the interest is subsequently not claimed by the owner, a new period of abandonment commences and relates back to the time a subsequent dividend, distribution or other sum became due and payable.
16,2887 Section 2887. 177.10 (5) of the statutes is amended to read:
177.10 (5) This chapter does not apply to any stock or other intangible ownership interest enrolled in a plan that provides for the automatic reinvestment of dividends, distributions or other sums payable as a result of the interest unless the records available to the administrator of the plan show, with respect to any intangible ownership interest not enrolled in the reinvestment plan, that the owner has not within 7 5 years communicated in any manner specified under sub. (1).
16,2888 Section 2888. 177.17 (title) of the statutes is amended to read:
177.17 (title) Report Reporting, payment, and delivery of abandoned property.
16,2889 Section 2889. 177.17 (4) of the statutes is renumbered 177.17 (4) (a) 1. and amended to read:
177.17 (4) (a) 1. Before May November 1 of each even-numbered year, each holder shall file a report covering the 2 previous calendar years year. On written request by any person required to file a report, the administrator may postpone the reporting date extend the deadline established in this paragraph.
16,2890 Section 2890. 177.17 (4) (a) 2. of the statutes is created to read:
177.17 (4) (a) 2. Except as otherwise provided in this subdivision and s. 177.06 (4), upon filing the report under subd. 1., the holder shall pay or deliver to the administrator all abandoned property required to be reported. This subdivision does not apply to abandoned property that is in the form of amounts credited under s. 20.912 (1) to the support collections trust fund or amounts not distributable from the support collections trust fund to the persons for whom the amounts were awarded.
16,2891 Section 2891. 177.18 (title) of the statutes is amended to read:
177.18 (title) Notice and publication of lists of abandoned or escheated property.
16,2892 Section 2892. 177.18 (1) of the statutes is amended to read:
177.18 (1) The Before July 1 of each year, the administrator shall publish a notice entitled "Notice of names of persons appearing to be owners of abandoned property" not later than the September 20 following the report required under s. 177.17. Except as provided in sub. (1m), the notice shall include the name of each person identified in a report filed under s. 177.17 since the publication of the previous notice. The administrator shall publish the notice as a class 1 notice under ch. 985, in a newspaper of general circulation in the county in which is located the last-known address of the person to be named in the notice. If no address is listed or the address is outside this state, the notice shall be published in the county in which the holder of the property has its principal place of business within this state.
16,2893 Section 2893. 177.18 (2) (intro.) of the statutes is amended to read:
177.18 (2) (intro.) The published A notice under sub. (1) shall contain all of the following:
16,2894 Section 2894. 177.18 (2) (c) of the statutes is repealed.
16,2895 Section 2895. 177.18 (2) (d) of the statutes is renumbered 177.18 (2m) and amended to read:
177.18 (2m) For money or other property received under s. 852.01 (3), 863.37 (2) or 863.39 (1), the a notice shall be published at least annually in the official state newspaper and shall include the name of the decedent, the time and place of the decedent's death, the amount paid to the administrator, the name of the decedent's personal representative, the county in which the estate is probated and a statement that the money will be paid to the heirs or legatees without interest, on proof of ownership, if claimed within 10 years from the date of publication as provided in s. 863.39 (3).
16,2896 Section 2896. 177.19 (title), (1) and (2) of the statutes are repealed.
16,2897 Section 2897. 177.19 (4) of the statutes is renumbered 177.17 (4) (b) and amended to read:
177.17 (4) (b) The holder of an interest under s. 177.10 shall deliver to the administrator, upon filing the report required under this section, a duplicate certificate or other evidence of ownership if the holder does not issue certificates of ownership. Upon delivery of a duplicate certificate to the administrator, the holder and any transfer agent, registrar or other person acting for or on behalf of a holder in executing or delivering the duplicate certificate are relieved of all liability, as provided under s. 177.20, to any person, including any person acquiring the original certificate or the duplicate of the certificate issued to the administrator, for any loss or damage caused by the issuance and delivery of the duplicate certificate to the administrator.
16,2898 Section 2898. 177.22 (1) of the statutes is amended to read:
177.22 (1) Except as provided in subs. (2) and (3) (4), the administrator, within 3 years after the receipt of abandoned property, shall sell it to the highest bidder at public sale in the city, village or town in this state which, in the judgment of the administrator, affords the most favorable market for the property. The administrator may decline the highest bid and reoffer the property for sale if, in his or her judgment, the bid is insufficient. If the administrator determines that the probable cost of sale exceeds the value of the property, it need not be offered for sale. Any sale held under this section shall be preceded by the publication of one notice, at least 3 weeks in advance of sale, in a newspaper of general circulation in the county in which the property is to be sold.
16,2899 Section 2899. 177.22 (3) of the statutes is repealed.
16,2900 Section 2900. 177.22 (4) of the statutes is amended to read:
177.22 (4) Unless the administrator determines that it is in the best interest of this state to do otherwise, he or she shall hold all securities presumed abandoned under s. 177.10, and delivered to the administrator, for at least 3 years one year before selling them. If the administrator sells any securities delivered under s. 177.10 before the expiration of the 3-year period, any person making a claim under this chapter before the end of the 3-year period is entitled either to the proceeds of the sale of the securities or to the market value of the securities at the time the claim is made, whichever amount is greater, less any deduction for fees under s. 177.23 (2). A person making a claim under this chapter after the expiration of the 3-year period is entitled to receive either the securities delivered to the administrator by the holder, if the administrator still has them, or to the proceeds from their sale, less any amounts deducted under s. 177.23 (2). No person has any claim under this chapter against this state, the holder, any transfer agent, registrar or other person acting for or on behalf of a holder for any appreciation in the value of the property occurring after delivery by the holder to the administrator.
16,2901 Section 2901. 177.23 (1) of the statutes is amended to read:
177.23 (1) Except as provided in sub. (2), the administrator shall deposit in the school fund all funds received under this chapter, including the clear proceeds from the sale of abandoned property under s. 177.22. Before making the deposit, the administrator shall record the name and last-known address of each person appearing from the holders' reports to be entitled to the property and the name and last-known address of each insured person or annuitant and beneficiary and, with respect to each policy or contract listed in the report of an insurance company, its number, the name of the company and the amount due. The information recorded by the administrator under this subsection is not available for inspection or copying under s. 19.35 (1) until 24 months after payment or delivery of the property is due under s. 177.19 (1) 177.17 (4) (a).
16,2902 Section 2902. 177.24 (1) of the statutes is renumbered 177.24 (1) (a).
16,2903 Section 2903. 177.24 (1) (b) of the statutes is created to read:
177.24 (1) (b) Any person, except another state, claiming an interest in any property that is reported to the administrator under s. 177.17 and that is in the form of amounts credited under s. 20.912 (1) to the support collections trust fund or amounts not distributable from the support collections trust fund to the persons for whom the amounts were awarded may file a claim with the administrator, after December 1 following the report, on a form prescribed by the administrator and verified by the claimant.
16,2904 Section 2904. 177.24 (2) of the statutes is amended to read:
177.24 (2) The administrator shall consider each claim within 90 days after it is filed and may refer any claim to the attorney general for an opinion. For each claim referred, the attorney general shall advise the administrator either to allow it or to deny it in whole or in part. The administrator shall give written notice to the claimant if the claim is denied in whole or in part. The notice may shall be given by mailing it to the last address, if any, stated in the claim as the address to which notices are to be sent. If no address for notices is stated in the claim, the notice may shall be mailed to the last address, if any, of the claimant as stated in the claim as the address of the claimant. No notice of denial need be given if the claim fails to state either the last address to which notices are to be sent or the address of the claimant.
16,2905 Section 2905. 177.24 (3) of the statutes is renumbered 177.24 (3) (a) and amended to read:
177.24 (3) (a) If Except as provided in par. (b), if a claim is allowed, the administrator shall deliver the property to the claimant or pay the claimant the amount the administrator actually received or the net proceeds of the sale of the property, together with any additional amount required under s. 177.21. If the claim is for property presumed abandoned under s. 177.10 which was sold by the administrator within 3 years after the date of delivery, the amount payable for that claim is the value of the property at the time the claim was made or the net proceeds of sale, whichever is greater. If the property claimed was interest bearing to the owner on the date of surrender by the holder, the administrator shall pay interest at a rate of 6% per year or any lesser rate the property earned while in the possession of the holder. Interest begins to accrue when the property is delivered to the administrator and ceases on the earlier of the expiration of 10 years after delivery or the date on which payment is made to the owner. No interest on interest-bearing property is payable for any period before December 31, 1984.
16,2906 Section 2906. 177.24 (3) (b) of the statutes is created to read:
177.24 (3) (b) If the administrator allows a claim made under sub. (1) (b), the administrator shall pay the claimant the amount reported to the administrator under s. 177.17.
16,2907 Section 2907. 177.24 (4) of the statutes is amended to read:
177.24 (4) Any holder who pays the owner for property that has been delivered to this state which, if claimed from the administrator, would be subject to sub. (3) (a) shall add interest as provided under sub. (3) (a). The added interest shall be repaid to the holder by the administrator in the same manner as the principal.
16,2908 Section 2908. 177.25 (1m) of the statutes is created to read:
177.25 (1m) At any time after December 1 following the reporting, under s. 177.17, of property that is in the form of amounts credited under s. 20.912 (1) to the support collections trust fund or amounts not distributable from the support collections trust fund to the persons for whom the amounts were awarded, another state may recover the property under any of the circumstances described in sub. (1) (a) to (d).
16,2909 Section 2909. 177.25 (2) of the statutes is amended to read:
177.25 (2) The claim of another state to recover escheated or abandoned property shall be presented in a form prescribed by the administrator, who shall decide the claim within 90 days after it is presented. The administrator shall allow the claim if he or she determines that the other state is entitled to the abandoned property under sub. (1) or (1m).
16,2910 Section 2910. 177.265 of the statutes is created to read:
177.265 Reimbursement for claims and administrative expenses. (1) At least quarterly, the department of workforce development shall reimburse the administrator, based on information provided by the administrator, for all of the following:
(a) Any claims paid under ss. 177.24 to 177.26, since the last reimbursement was made, with respect to abandoned property in the form of amounts credited under s. 20.912 (1) to the support collections trust fund and amounts not distributable from the support collections trust fund to the persons for whom the amounts were awarded.
(b) Any administrative expenses specified in s. 177.23 (2) (a) to (e), incurred since the last reimbursement was made, with respect to abandoned property in the form of amounts credited under s. 20.912 (1) to the support collections trust fund and amounts not distributable from the support collections trust fund to the persons for whom the amounts were awarded.
(2) The administrator shall deposit in the general fund all moneys received under sub. (1).
16,2911 Section 2911. 177.35 (2) of the statutes is renumbered 177.35 (2) (a) and amended to read:
177.35 (2) (a) An agreement entered into under this section is not enforceable if the agreement is entered into within 24 12 months after payment or delivery of the property is due under s. 177.19 (1) 177.17 (4) (a).
16,2912 Section 2912. 177.35 (2) (b) of the statutes is created to read:
177.35 (2) (b) An agreement entered into under this section that relates to property that is in the form of amounts credited under s. 20.912 (1) to the support collections trust fund or amounts not distributable from the support collections trust fund to the persons for whom the amounts were awarded is not enforceable if the agreement is entered into within 12 months after December 1 following the reporting of the property under s. 177.17.
16,2913 Section 2913. 178.48 (2) of the statutes is amended to read:
178.48 (2) The department shall collect a $10 the fee established under s. 182.01 (4) (c) each time process is served on the department under this chapter.
16,2914 Section 2914. 178.48 (3) of the statutes is amended to read:
178.48 (3) In addition to the fees required under sub. (1), the department shall collect $25 the fee established under s. 182.01 (4) (d) for processing in an expeditious manner a document required or permitted to be filed with the department under this chapter.
16,2915 Section 2915. 179.16 (4) of the statutes is repealed.
16,2916 Section 2916. 179.16 (5) of the statutes is amended to read:
179.16 (5) The department shall charge and collect, for processing a document required or permitted to be filed under this chapter in an expeditious manner, or preparing the information under sub. (4) in an expeditious manner, the expedited service the fee established under s. 182.01 (4) (d) in addition to the fee required by other provisions of this chapter.
16,2917 Section 2917. 179.88 of the statutes is amended to read:
179.88 Substituted service. Service of process on the department under this subchapter shall be made by serving of duplicate copies of the process on the department, together with a the fee of $10 established under s. 182.01 (4) (c). The department shall mail notice of the service and a copy of the process within 10 days addressed to the foreign limited partnership at its office in the state of its organization. The time within which the foreign limited partnership may answer or move to dismiss under s. 802.06 (2) does not start to run until 10 days after the date of the mailing. The department shall keep a record of service of process under this section showing the day and hour of service and the date of mailing.
16,2917b Section 2917b. 180.0122 (1) (a) of the statutes is amended to read:
180.0122 (1) (a) Articles of incorporation, 1 cent for each authorized share, except the minimum fee is $90 and the maximum fee is $10,000 and except that the fee for investment companies is determined under sub. (1m) $100.
16,2917d Section 2917d. 180.0122 (1) (m) of the statutes is amended to read:
180.0122 (1) (m) Amendment of articles of incorporation, $40; plus 1 cent for each authorized share after the amendment, less a credit of 1 cent for each authorized share immediately before the amendment; except the maximum fee under this paragraph is $10,000 and except that the fee for investment companies is determined under sub. (1m).
16,2917f Section 2917f. 180.0122 (1) (n) of the statutes is amended to read:
180.0122 (1) (n) Restatement of articles of incorporation with or without amendment of articles, $40; plus 1 cent for each authorized share after the restatement and any amendment, less a credit of 1 cent for each authorized share immediately before the restatement and any amendment; except the maximum fee under this paragraph is $10,000 and except that the fee for investment companies is determined under sub. (1m).
16,2917h Section 2917h. 180.0122 (1) (o) of the statutes is amended to read:
180.0122 (1) (o) Articles of merger, $50 for each domestic corporation and each foreign corporation authorized to transact business in this state that is a party to the merger; plus 1 cent for each authorized share of the surviving domestic corporation after the merger, less a credit of 1 cent for each share that is authorized immediately before the merger by each domestic corporation that is a party to the merger; except the maximum fee under this paragraph is $10,000 and except that the fee for investment companies is determined under sub. (1m).
16,2917j Section 2917j. 180.0122 (1) (om) of the statutes is amended to read:
180.0122 (1) (om) Articles of share exchange, $50 for each domestic corporation and each foreign corporation authorized to transact business in this state that is a party to the share exchange; plus 1 cent for each authorized share of the acquiring domestic corporation after the share exchange, less a credit of 1 cent for each share that is authorized immediately before the share exchange by the acquiring domestic corporation; except the maximum fee under this paragraph is $10,000.
16,2917m Section 2917m. 180.0122 (1) (x) of the statutes is amended to read:
180.0122 (1) (x) Annual report of a domestic corporation that is submitted to the department by authorized electronic means, $25; annual report of a domestic corporation that is submitted to the department on paper, $40.
16,2917p Section 2917p. 180.0122 (1) (y) of the statutes is amended to read:
180.0122 (1) (y) Annual report of a foreign corporation, $50, that is submitted to the department by authorized electronic means, $65, and annual report submitted to the department on paper, $80, and in case the annual report shows that the foreign corporation employs in this state capital in excess of the amount of capital on which a fee has previously been paid, computed as provided in s. 180.1503, an additional fee which, with previous payments made on account of capital employed in this state, will amount to $2 for each $1,000 or fraction thereof of the excess.
16,2918 Section 2918. 180.0122 (1) (z) of the statutes is amended to read:
180.0122 (1) (z) Request for certificate or statement of status, $5 the fee established under s. 182.01 (4) (b).
16,2918m Section 2918m. 180.0122 (1m) of the statutes is repealed.
16,2919 Section 2919. 180.0122 (2) of the statutes is amended to read:
180.0122 (2) The department shall collect a $10 the fee established under s. 182.01 (4) (c) each time process is served on the department under this chapter. The party to a civil, criminal, administrative or investigatory proceeding causing service of process may recover this fee as costs if the party prevails in the proceeding.
16,2920 Section 2920. 180.0122 (4) of the statutes is amended to read:
180.0122 (4) In addition to the fees required under sub. (1), the department shall collect the expedited service fee established under s. 182.01 (4) (d) for processing in an expeditious manner a document required or permitted to be filed under this chapter or and shall collect the fee established under s. 182.01 (4) (f) for preparing in an expeditious manner a certificate of status under s. 180.0128 (1) to (3) or a statement of status under s. 180.0128 (4).
16,2920c Section 2920c. 180.0701 (4) (c) of the statutes is amended to read:
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