This is the preview version of the Wisconsin State Legislature site.
Please see http://docs.legis.wisconsin.gov for the production version.
SB756,15 7Section 15. 177.01 (6) of the statutes is renumbered 177.01 (6) (intro.) and
8amended to read:
SB756,7,119 177.01 (6) (intro.) “Domicile" means the state of incorporation of a corporation,
10the state of organization of a limited liability company and the state of the principal
11place of business of an unincorporated person.
the following:
SB756,16 12Section 16. 177.01 (6) (a) to (d) of the statutes are created to read:
SB756,7,1313 177.01 (6) (a) For a corporation, the state of its incorporation.
SB756,7,1514 (b) For a business association, other than a corporation, that requires a filing
15with a state for its formation, the state of its filing.
SB756,7,1816 (c) For a federally chartered entity or an investment company registered under
17the investment company act of 1940, as amended, 15 U.S.C. sections 80a-1 to
1880a-64, the state of its home office.
SB756,7,1919 (d) For any other holder, the state of its principal place of business.
SB756,17 20Section 17. 177.01 (6d) of the statutes is created to read:
SB756,7,2321 177.01 (6d) “Dormancy period” means the period of time, as specified for each
22property type in this chapter, that must pass before the property is presumed
23abandoned.
SB756,18 24Section 18. 177.01 (6f) of the statutes is created to read:
SB756,8,2
1177.01 (6f) “Electronic” means relating to technology having electrical, digital,
2magnetic, wireless, optical, electromagnetic, or similar capabilities.
SB756,19 3Section 19. 177.01 (6g) of the statutes is created to read:
SB756,8,54 177.01 (6g) “E-mail” means a communication by electronic means which is
5automatically retained and stored and may be readily accessed or retrieved.
SB756,20 6Section 20. 177.01 (7) of the statutes is amended to read:
SB756,8,117 177.01 (7) “Financial organization" means a savings and loan association,
8savings bank, cooperative bank, building and loan association or, credit union,
9industrial bank, bank, banking organization, trust company, land bank, safe deposit
10company, private banker, or any other organization defined by other law as a bank,
11banking organization, or financial institution
.
SB756,21 12Section 21. 177.01 (7b) of the statutes is created to read:
SB756,8,2213 177.01 (7b) “Game-related digital content” means digital content that exists
14only in an electronic game or electronic-game platform. “Game-related digital
15content includes game play currency, such as a virtual wallet, even if denominated
16in U.S. currency and points sometimes referred to as gems, tokens, gold, and similar
17names, and digital codes, if for use or redemption only within the game or platform
18or another electronic game or electronic game platform. “Game-related digital
19content” does not include an item that the issuer permits to be redeemed for use
20outside of a game or platform and for money or goods and services that have more
21than minimal value or that the issuer otherwise monetizes for use outside of a game
22or platform.
SB756,22 23Section 22. 177.01 (7d) of the statutes is created to read:
SB756,9,224 177.01 (7d) (a) “Gift card” means a record evidencing a promise for
25consideration by the seller or issuer of the record that merchandise, goods, or services

1will be provided to the owner of the record equal to the value or amount shown in the
2record, if all of the following apply:
SB756,9,33 1. The value or amount does not expire.
SB756,9,54 2. The value or amount may be decreased only by redemption for merchandise,
5goods, or services.
SB756,9,76 3. The value or amount may not be redeemed for or converted into money or
7otherwise monetized by the issuer.
SB756,9,88 (b) “Gift card” includes the following:
SB756,9,129 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.
SB756,9,14132. A prepaid commercial mobile radio service, as defined in 47 C.F.R. 20.3, as
14amended.
SB756,9,1515 (c) “Gift card” does not include the following:
SB756,9,1616 1. A stored-value card.
SB756,9,1717 2. A loyalty card.
SB756,9,1818 3. A payroll card.
SB756,9,1919 4. Game-related digital content.
SB756,23 20Section 23. 177.01 (8) (intro.) of the statutes is renumbered 177.01 (8) and
21amended to read:
SB756,9,2422 177.01 (8) “Holder" means a person, wherever organized or domiciled, who is
23any of the following:
obligated to hold property subject to this chapter for the account
24of, or to deliver or pay to, the owner.
SB756,24 25Section 24. 177.01 (8) (a) to (c) of the statutes are repealed.
SB756,25
1Section 25. 177.01 (9) of the statutes is amended to read:
SB756,10,82 177.01 (9) “Insurance company" means an association, corporation, or
3fraternal or mutual benefit organization, whether or not for profit, which is engaged
4in the business of providing life endowments, annuities, or insurance coverage,
5including, but not limited to, accident, burial, casualty, credit life, contract
6performance, dental, disability, fidelity, fire, health, hospitalization, illness, life
7including endowments and annuities, malpractice, marine, mortgage, surety and,
8wage protection, and worker compensation insurance.
SB756,26 9Section 26. 177.01 (10) and (11) of the statutes are repealed.
SB756,27 10Section 27. 177.01 (11d) of the statutes is created to read:
SB756,10,1511 177.01 (11d) “Loyalty card” means a record given without direct monetary
12consideration under an award, reward, benefit, loyalty, incentive, rebate, or
13promotional program and that may be used or redeemed only to obtain goods or
14services or a discount on goods or services. “Loyalty card” does not include a record
15that may be redeemed for money or otherwise monetized by the issuer.
SB756,28 16Section 28. 177.01 (11f) of the statutes is created to read:
SB756,10,2117 177.01 (11f) “Mineral" means gas, oil, coal, oil shale, other gaseous liquid or
18solid hydrocarbon, cement material, sand and gravel, road material, building stone,
19chemical raw material, gemstone, fissionable and nonfissionable ores, colloidal and
20other clay, steam and other geothermal resources, and any other substance defined
21as a mineral by law of this state other than this chapter.
SB756,29 22Section 29. 177.01 (11g) of the statutes is created to read:
SB756,11,223 177.01 (11g) “Mineral proceeds” means an amount payable for extraction,
24production, or sale of minerals, or, on the abandonment of the amount, an amount

1that becomes payable after abandonment. “Mineral proceeds" includes an amount
2payable:
SB756,11,43 (a) For the acquisition and retention of a mineral lease, including a bonus,
4royalty, compensatory royalty, shut-in royalty, minimum royalty, or delay rental.
SB756,11,65 (b) For the extraction, production, or sale of minerals, including a net revenue
6interest, royalty, overriding royalty, extraction payment, and production payment.
SB756,11,87 (c) Under an agreement or option, including a joint-operating agreement, unit
8agreement, pooling agreement, and farm-out agreement.
SB756,30 9Section 30. 177.01 (11j) of the statutes is created to read:
SB756,11,1210 177.01 (11j) “Money order” means a payment order for a specified amount of
11money. “Money order" includes an express money order and a personal money order
12on which the remitter is the purchaser.
SB756,31 13Section 31. 177.01 (11m) of the statutes is created to read:
SB756,11,1514 177.01 (11m) “Municipal bond” means a bond or evidence of indebtedness
15issued by a municipality or other political subdivision of a state.
SB756,32 16Section 32. 177.01 (12) of the statutes is renumbered 177.01 (12) (intro.) and
17amended to read:
SB756,11,2018 177.01 (12) (intro.) “Owner" means a person having a legal, beneficial, or
19equitable interest in property subject to this chapter or the person's legal
20representative acting on the person's behalf. “Owner” includes the following:
SB756,11,21 21(a) A depositor in the case of , for a deposit, a .
SB756,11,22 22(b) A beneficiary in the case of , for a trust other than a deposit in trust, a .
SB756,11,25 23(c) A creditor, claimant, or payee in the case of, for other intangible property,
24or a person having a legal or equitable interest in property subject to this chapter or
25his or her legal representative
.
SB756,33
1Section 33. 177.01 (12) (d) of the statutes is created to read:
SB756,12,32 177.01 (12) (d) The lawful bearer of a record that may be used to obtain money,
3a reward, or a thing of value.
SB756,34 4Section 34. 177.01 (12d) of the statutes is created to read:
SB756,12,65 177.01 (12d) “Payroll card” means a record that evidences a payroll-card
6account as defined in Regulation E, 12 C.F.R. Part 1005, as amended.
SB756,35 7Section 35. 177.01 (13) of the statutes is amended to read:
SB756,12,118 177.01 (13) “Person" means an individual, business association, state or other
9government, governmental subdivision, instrumentality, or agency, public
10corporation, public authority, estate, trust, 2 or more persons having a joint or
11common interest,
or any other legal or commercial entity.
SB756,36 12Section 36. 177.01 (13b) of the statutes is created to read:
SB756,12,1613 177.01 (13b) (a) “Property” means tangible property described in s. 177.0205
14or a fixed and certain interest in intangible property held, issued, or owed in the
15course of a holder's business or by a government, governmental subdivision, agency,
16or instrumentality.
SB756,12,1717 (b) “Property” includes all of the following:
SB756,12,1818 1. All income from or increments to the property.
SB756,12,1919 2. Property referred to as or evidenced by:
SB756,12,2020 a. Money, virtual currency, or interest.
SB756,12,2121 b. A dividend, check, draft, deposit, or payroll card.
SB756,12,2422 c. A credit balance, customer overpayment, security deposit, refund, credit
23memorandum, unpaid wage, unused ticket for which the issuer has an obligation to
24provide a refund, mineral proceeds, or unidentified remittance.
SB756,13,4
1d. A security, except for a worthless security or a security that is subject to a
2lien, legal hold, or restriction evidenced on the records of the holder or imposed by
3operation of law, if the lien, legal hold, or restriction restricts the holder's or owner's
4ability to receive, transfer, sell, or otherwise negotiate the security.
SB756,13,55 e. A bond, debenture, note, or other evidence of indebtedness.
SB756,13,66 f. Money deposited to redeem a security, make a distribution, or pay a dividend.
SB756,13,77 g. An amount due and payable under an annuity contract or insurance policy.
SB756,13,118 h. An amount distributable from a trust or custodial fund established under a
9plan to provide health, welfare, pension, vacation, severance, retirement, death,
10stock purchase, profit-sharing, employee-savings, supplemental-unemployment
11insurance, or a similar benefit.
SB756,13,1212 (c) “Property” does not include the following:
SB756,13,14131. Property held in a plan described in section 529A of the Internal Revenue
14Code.
SB756,13,1515 2. Game-related digital content.
SB756,13,1616 3. A loyalty card.
SB756,13,1717 4. An in-store credit for returned merchandise.
SB756,13,1818 5. A gift card.
SB756,13,1919 6. A stored-value card.
SB756,13,2020 7. Property described under s. 177.015 (2).
SB756,37 21Section 37. 177.01 (13d) of the statutes is created to read:
SB756,13,2522 177.01 (13d) “Putative holder” means a person believed by the administrator
23to be a holder, until the person pays or delivers to the administrator property subject
24to this chapter or the administrator or a court makes a final determination that the
25person is or is not a holder.
SB756,38
1Section 38. 177.01 (13f) of the statutes is created to read:
SB756,14,42 177.01 (13f) “Record” means information that is inscribed on a tangible
3medium or that is stored in an electronic or other medium and is retrievable in
4perceivable form.
SB756,39 5Section 39. 177.01 (13h) of the statutes is created to read:
SB756,14,66 177.01 (13h) “Security” means all of the following:
SB756,14,77 (a) A security, as defined in s. 408.102 (1) (o).
Loading...
Loading...