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AB752,14,1918 177.01 (13j) “Sign” means any of the following done with the intent to
19authenticate or adopt a record:
AB752,14,2020 (a) To execute or adopt a tangible symbol.
AB752,14,2221 (b) To attach to or logically associate with the record an electronic symbol,
22sound, or process.
AB752,41 23Section 41. 177.01 (14d) of the statutes is created to read:
AB752,15,224 177.01 (14d) (a) “Stored-value card” means a record evidencing a promise for
25consideration by the seller or issuer of the record that merchandise, goods, services,

1or money will be provided to the owner of the record equal to the value or amount
2shown in the record, if all of the following apply:
AB752,15,33 1. The value or amount does not expire.
AB752,15,54 2. The value or amount may be decreased only by redemption for merchandise,
5goods, services, or money.
AB752,15,76 3. The value or amount may not be redeemed for or converted into money or
7otherwise monetized by the issuer.
AB752,15,88 (b) “Stored-value card” includes the following:
AB752,15,129 1. A record that contains or consists of a microprocessor chip, magnetic strip,
10or other means for the storage of information, that is prefunded and the value or
11amount of which is decreased on each use and increased by payment of additional
12consideration.
AB752,15,14132. A prepaid commercial mobile radio service, as defined in 47 C.F.R. 20.3, as
14amended.
AB752,15,1515 (c) “Stored-value card” does not include the following:
AB752,15,1616 1. A payroll card.
AB752,15,1717 2. A loyalty card.
AB752,15,1818 3. A gift card.
AB752,15,1919 4. Game-related digital content.
AB752,42 20Section 42. 177.01 (15) of the statutes is amended to read:
AB752,15,2521 177.01 (15) “Utility" means a person who that owns or operates for public use
22any plant, equipment, real property, franchise , or license for the transmission of
23communications or; the production, storage, transmission, sale, delivery, or
24furnishing of electricity, water, steam, or gas ; the provision of sewage or septic
25services; or the disposal or recycling of trash or garbage
.
AB752,43
1Section 43. 177.01 (16) of the statutes is created to read:
AB752,16,42 177.01 (16) “Virtual currency” means a digital representation of value used as
3a medium of exchange, unit of account, or store of value that does not have legal
4tender status recognized by the United States. “Virtual currency" does not include:
AB752,16,65 (a) The software or protocols governing the transfer of the digital
6representation of value.
AB752,16,77 (b) Game-related digital content.
AB752,16,88 (c) A loyalty card.
AB752,16,99 (d) A gift card.
AB752,44 10Section 44. 177.01 (17) of the statutes is created to read:
AB752,16,1311 177.01 (17) “Worthless security” means a security for which the cost of
12liquidation and delivery to the administrator exceeds the value of the security on the
13date on which a report is due under this chapter.
AB752,45 14Section 45. 177.015 (title) of the statutes is amended to read:
AB752,16,16 15177.015 (title) Exemption Inapplicability to foreign transactions and
16other exemptions
.
AB752,46 17Section 46. 177.015 of the statutes is renumbered 177.015 (1).
AB752,47 18Section 47. 177.015 (2) of the statutes is created to read:
AB752,16,1919 177.015 (2) This chapter does not apply to any of the following:
AB752,16,2120 (a) Property held, due, and owing in a foreign country if the transaction out of
21which the property arose was a foreign transaction.
AB752,16,2322 (b) Any payment or credit shown on the books and records of a business
23association owed to another business association in the ordinary course of business.
AB752,16,2424 (c) Property described in s. 20.912 (1).
AB752,48 25Section 48. 177.02 of the statutes is repealed.
AB752,49
1Section 49. Subchapter II (title) of chapter 177 [precedes 177.0201] of the
2statutes is created to read:
AB752,17,33 CHAPTER 177
AB752,17,44 SUBCHAPTER ii
AB752,17,55 presumption of abandonment
AB752,50 6Section 50. 177.0201 of the statutes is created to read:
AB752,17,9 7177.0201 When property presumed abandoned. Subject to s. 177.0210,
8the following property is presumed abandoned if it is unclaimed by the apparent
9owner during the period specified below:
AB752,17,10 10(1) A traveler's check, 15 years after issuance.
AB752,17,11 11(2) A money order or similar instrument, 5 years after issuance.
AB752,17,14 12(3) A state or municipal bond, bearer bond, or original-issue-discount bond,
133 years after the earliest of the date the bond matures or is called or the obligation
14to pay the principal of the bond arises.
AB752,17,15 15(4) A debt of a business association, 3 years after the obligation to pay arises.
AB752,17,20 16(5) A payroll card or demand, savings, or time deposit, including a deposit that
17is automatically renewable, 5 years after the maturity of the deposit, except a deposit
18that is automatically renewable is deemed matured on its initial date of maturity
19unless the apparent owner consented in a record on file with the holder to renewal
20at or about the time of the renewal.
AB752,17,23 21(6) Money or a credit owed to a customer as a result of a retail business
22transaction, other than in-store credit for returned merchandise, 5 years after the
23obligation arises.
AB752,18,3 24(7) An amount owed by an insurance company on a life or endowment
25insurance policy or an annuity contract that has matured or terminated, 3 years after

1the obligation to pay arises under the terms of the policy or contract or, if a policy or
2contract for which an amount is owed on proof of death has not matured by proof of
3the death of the insured or annuitant, as follows:
AB752,18,84 (a) With respect to an amount owed on a life or endowment insurance policy,
53 years after the earliest of the date on which the insurance company has knowledge
6of the death of the insured or the date on which the insured attained, or would have
7attained if living, the limiting age under the mortality table that forms the bases of
8the reserve for the policy.
AB752,18,109 (b) With respect to an amount owed on an annuity contract, 3 years after the
10date on which the insurance company has knowledge of the death of the annuitant.
AB752,18,12 11(8) Property that may distributed by a business association in the course of
12dissolution, one year after the property may be distributed.
AB752,18,15 13(9) Except as provided in ss. 800.095 (8), 852.01 (3), 863.37 (2), and 863.39,
14property held by a court, including property received as proceeds of a class action,
15one year after the property may be distributed.
AB752,18,20 16(10) Except as provided in ss. 40.08 (8), 852.01 (3), 863.37 (2), and 863.39,
17property held by a government or governmental subdivision, agency, or
18instrumentality, including municipal bond interest and unredeemed principal under
19the administration of a paying agent or indenture trustee, 5 years after the property
20may be distributed.
AB752,18,23 21(11) Wages, commissions, bonuses, or reimbursements to which an employee
22is entitled, or other compensation for personal services, other than amounts held in
23a payroll card, one year after the amount becomes payable.
AB752,18,25 24(12) A deposit or refund owed to a subscriber by a utility, one year after the
25deposit or refund becomes payable.
AB752,19,3
1(13) Property not specified in this section or ss. 177.0202 to 177.0209, the
2earlier of 5 years after the owner first has a right to demand the property or the date
3on which the obligation to pay or distribute the property arises.
AB752,51 4Section 51. 177.0202 of the statutes is created to read:
AB752,19,9 5177.0202 When tax-deferred retirement account presumed
6abandoned. (1)
Subject to s. 177.0210, property held in a pension account or
7retirement account that qualifies for federal income tax deferral under the Internal
8Revenue Code is presumed abandoned if it is unclaimed by the apparent owner 3
9years after the earliest of the following:
AB752,19,1310 (a) The date on which a 2nd consecutive communication sent by the holder by
111st class mail to the apparent owner is returned to the holder by the U.S. postal
12service as undeliverable, if the apparent owner has reached the age for which an
13early withdrawal penalty does not apply.
AB752,19,1814 (b) If the 2nd communication is sent by the holder to the apparent owner later
15than 30 days after the date on which the first communication is returned to the
16holder by the U.S. postal service as undeliverable, the date on which the first
17communication was returned as undeliverable, if the apparent owner has reached
18the age for which an early withdrawal penalty does not apply.
AB752,19,2019 (c) The date on which the apparent owner becomes 70.5 years of age, if that can
20be determined by the holder.
AB752,19,2221 (d) Any of the following, if distribution to avoid a tax penalty is required under
22the Internal Revenue Code:
AB752,19,2423 1. The date on which the holder receives confirmation of the death of the
24apparent owner in the ordinary course of the holder's business.
AB752,20,2
12. The date on which the holder confirms the death of the apparent owner under
2sub. (2).
AB752,20,6 3(2) If a holder in the ordinary course of its business receives notice or an
4indication of the death of an apparent owner and sub. (1) (c) or (d) applies, the holder
5shall attempt not later than 90 days after receipt of the notice or indication to confirm
6whether the apparent owner is deceased.
AB752,20,12 7(3) If the holder does not send communications to the apparent owner by 1st
8class mail, as described in sub. (1), the holder shall attempt to confirm the apparent
9owner's interest in the property by sending the apparent owner e-mail not later than
102 years after the apparent owner's last indication of interest in the property, except
11that the holder shall promptly attempt to contact the apparent owner by 1st class
12mail if any of the following applies:
AB752,20,1513 (a) The holder does not have information needed to send the apparent owner
14e-mail or the holder believes that the apparent owner's e-mail address in the
15holder's records is not valid.
AB752,20,1616 (b) The holder receives notification that the e-mail was not received.
AB752,20,1817 (c) The apparent owner does not respond to the e-mail within 30 days from the
18date on which the e-mail was sent.
AB752,20,21 19(4) If 1st class mail sent under sub. (3) is returned to the holder by the U.S.
20postal service as undeliverable, the property is presumed abandoned 3 years after
21the date on which the mail is returned.
AB752,52 22Section 52. 177.0203 of the statutes is created to read:
AB752,21,4 23177.0203 When other tax-deferred account presumed abandoned.
24Subject to s. 177.0210, and except for property described under s. 177.0202 and
25property held in a plan described in section 529A of the Internal Revenue Code,

1property held in an account or plan, including a health savings account, that
2qualifies for federal income tax deferral under the Internal Revenue Code is
3presumed abandoned if it is unclaimed by the apparent owner 3 years after the
4earliest of the following:
AB752,21,7 5(1) The date specified under the Internal Revenue Code or by federal regulation
6by which the distribution of property must begin in order to avoid a penalty, if no such
7distribution has been made.
AB752,21,8 8(2) Thirty years after the date on which the account was opened.
AB752,53 9Section 53. 177.0204 of the statutes is created to read:
AB752,21,14 10177.0204 When custodial account for a minor presumed abandoned.
11(1)
Subject to s. 177.0210, property held in an account established under any state's
12uniform gifts to minors act or uniform transfers to minors act is presumed abandoned
13if it is unclaimed by or on behalf of the minor on whose behalf the account was opened
143 years after the earliest of the following:
AB752,21,1715 (a) The date on which a 2nd consecutive communication sent by the holder by
161st class mail to the minor's custodian is returned to the holder by the U.S. postal
17service as undeliverable.
AB752,21,2118 (b) If the 2nd communication is sent by the holder to the minor's custodian later
19than 30 days after the date on which the first communication is returned to the
20holder by the U.S. postal service as undeliverable, the date on which the first
21communication was returned as undeliverable.
AB752,21,2422 (c) The date on which the minor's custodian is required to transfer the property
23to the minor or the minor's estate in accordance with the uniform gifts to minors act
24or uniform transfers to minors act of the state in which the account was opened.
AB752,22,6
1(2) If the holder does not send communications to the custodian by 1st class
2mail, as described in sub. (1), the holder shall attempt to confirm the custodian's
3interest in the property by sending the custodian e-mail not later than 2 years after
4the custodian's last indication of interest in the property, except that the holder shall
5promptly attempt to contact the custodian by 1st class mail if any of the following
6applies:
AB752,22,97 (a) The holder does not have information needed to send the custodian e-mail
8or the holder believes that the custodian's e-mail address in the holder's records is
9not valid.
AB752,22,1010 (b) The holder receives notification that the e-mail was not received.
AB752,22,1211 (c) The custodian does not respond to the e-mail within 30 days from the date
12on which the e-mail was sent.
AB752,22,15 13(3) If 1st class mail sent under sub. (2) is returned to the holder by the U.S.
14postal service as undeliverable, the property is presumed abandoned 3 years after
15the date on which the mail is returned.
AB752,22,17 16(4) The property in the account described under sub. (1) is not subject to this
17section after the property is transferred to the minor or the minor's estate.
AB752,54 18Section 54. 177.0205 of the statutes is created to read:
AB752,22,23 19177.0205 When contents of safe deposit box presumed abandoned.
20Tangible property held in a safe deposit box and proceeds from a sale of the property
21by the holder permitted by law of this state other than this chapter are presumed
22abandoned if the property remains unclaimed by the apparent owner 5 years after
23the earliest of the following:
AB752,22,24 24(1) The expiration of the lease or rental period for the box.
AB752,23,3
1(2) The earliest date when the lessor of the box is authorized by contract or law
2of this state other than this chapter to enter the box and remove or dispose of the
3contents without consent or authorization of the lessee.
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