Chapter 177

177.1302(1) (1) Subject to sub. (2), an agreement under s. 177.1301 is void if it is entered into during the period beginning on the date the property is paid or delivered by a holder to the administrator and ending 24 months after the payment or delivery.

177.1302(2) (2) If any provision of an agreement under s. 177.1301 applies to mineral proceeds for which compensation is to be paid to the locator service based in whole or in part on a portion of the underlying minerals or mineral proceeds not then presumed abandoned, the provision is void regardless of when the parties entered into the agreement.

177.1302(3) (3) This section does not apply to an apparent owner’s agreement with an attorney to contest the administrator’s denial of a claim for recovery of the property.

177.1302 History History: 2021 a. 87.

subch. XIV of ch. 177 SUBCHAPTER XIV

CONFIDENTIALITY AND SECURITY
OF INFORMATION

177.1401 177.1401 Definitions; applicability.

177.1401(1) (1) In this subchapter, “personal information” means the following:

177.1401(1)(a) (a) Information that identifies or reasonably can be used to identify an individual, including an individual’s first and last name in combination with any of the following information associated with the individual:

177.1401(1)(a)1. 1. A social security number or other government-issued number or identifier.

177.1401(1)(a)2. 2. Date of birth.

177.1401(1)(a)3. 3. Residential address.

177.1401(1)(a)4. 4. An e-mail address or other online contact information or Internet provider address.

177.1401(1)(a)5. 5. A financial account number or credit or debit card number.

177.1401(1)(a)6. 6. Biometric data, health or medical data, or insurance information.

177.1401(1)(a)7. 7. Passwords or other credentials that permit access to an online or other account.

177.1401(1)(b) (b) Personally identifiable financial or insurance information, including nonpublic personal information as defined by federal law.

177.1401(1)(c) (c) Any combination of data that, if accessed, disclosed, modified, or destroyed without authorization of the owner of the data or if lost or misused, would require notice or reporting under state or federal law, regardless of whether the administrator or the administrator’s agent is subject to such law.

177.1401(2) (2) All provisions of this subchapter that apply to the administrator or the records of the administrator apply to the administrator’s agent and the records of the administrator’s agent.

177.1401 History History: 2021 a. 87.

177.1402 177.1402 Confidential information.

177.1402(1) (1) Except as otherwise provided in this chapter, the following are confidential and exempt from public inspection or disclosure under subch. II of ch. 19:

177.1402(1)(a) (a) Reports and records of a claimant that are in the possession of the administrator or the administrator’s agent.

177.1402(1)(b) (b) Reports and records of a holder that are in the possession of the administrator or the administrator’s agent.

177.1402(1)(c) (c) Personal information and other information derived or otherwise obtained by or communicated to the administrator or the administrator’s agent from an examination under this chapter of the records of a person.

177.1402(1)(d) (d) Tax information that is confidential under s. 71.78.

177.1402(2) (2) A record or other information that is confidential under the laws of this state, another state, or the United States continues to be confidential when disclosed or delivered under this chapter to the administrator or administrator’s agent.

177.1402(3) (3) The provisions of s. 71.78 (1) and (1m), as they apply to tax information, apply to the confidential information in sub. (1), except that the administrator may provide the name of a claimant or owner, along with any property claimed by or paid to that claimant or owner, to any other claimant filing a claim for the same property.

177.1402 History History: 2021 a. 87.

177.1403 177.1403 When confidential information may be disclosed.

177.1403(1) (1) When reasonably necessary to enforce or implement this chapter, the administrator may disclose confidential information concerning property held by the administrator or the administrator’s agent only to the following:

177.1403(1)(a) (a) An apparent owner or the apparent owner’s personal representative or special administrator, attorney, guardian, other legal representative, or a person entitled to inherit from the deceased apparent owner.

177.1403(1)(b) (b) A department or agency of this state or the United States.

177.1403(1)(c) (c) The person that administers the unclaimed property law of another state, if the other state accords substantially reciprocal privileges to the administrator of this state and if the other state is required to maintain the confidentiality and security of information obtained in a manner substantially equivalent to that under this subchapter.

177.1403(1)(d) (d) A person subject to an examination as required by subch. X.

177.1403(2) (2) 

177.1403(2)(a) (a) Except as otherwise provided in s. 177.1402 (1), the administrator shall include on the administrator’s Internet site or in the database required by s. 177.0503 the name of each apparent owner of property held by the administrator.

177.1403(2)(b) (b) The administrator may include on the administrator’s Internet site or in the database additional information concerning the apparent owner’s property, if the administrator believes that the information will assist in identifying and returning property to the owner and if the information does not disclose personal information, except the apparent owner’s name and residential address.

177.1403(2)(c) (c) The administrator may include the information described in par. (b) in published notices, printed publications, telecommunications, or other media or on the Internet.

177.1403(3) (3) The administrator and the administrator’s agent may not use confidential information provided to them or in their possession except as expressly authorized by this chapter or by other law.

177.1403 History History: 2021 a. 87.

subch. XV of ch. 177 SUBCHAPTER XV

MISCELLANEOUS PROVISIONS

177.1501 177.1501 Uniformity of application and construction. This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it.

177.1501 History History: 1983 a. 408; 2021 a. 87 s. 187; Stats. 2021 s. 177.1501.

177.1502 177.1502 Effect of new provisions; clarification of application.

177.1502(1) (1) This chapter does not relieve a holder of a duty that arose before November 7, 2021, to report, pay, or deliver property. Subject to s. 177.0610 (2) and (3), a holder who did not comply with the law governing unclaimed property in effect before November 7, 2021, is subject to the applicable enforcement and penalty provisions in effect before November 7, 2021.

177.1502(2) (2) The initial report filed under this chapter for property that was not required to be reported before November 7, 2021, but that is required to be reported under this chapter, shall include all items of property that would have been presumed abandoned during the 10-year period preceding November 7, 2021, as if this chapter had been in effect during that period.

177.1502 History History: 1983 a. 408; 2021 a. 87 s. 185; Stats. 2021 s. 177.1502.

177.1503 177.1503 Escheat of property to municipalities. If any statute provides for the escheat of abandoned or unclaimed property to a county, city, village or town, this chapter does not apply.

177.1503 History History: 1983 a. 408; 2021 a. 87 s. 188; Stats. 2021 s. 177.1503.

177.1504 177.1504 Escheat of U.S. savings bonds.

177.1504(1) (1) If all of the following conditions apply, the administrator may bring an action for a judgment that a U.S. savings bond, including a U.S. savings bond in the possession of the administrator or a U.S. savings bond that has been lost, stolen, or destroyed, is abandoned and for an order transferring ownership of the abandoned U.S. savings bond to this state:

177.1504(1)(a) (a) The U.S. savings bond has been presumed abandoned under s. 177.0206 for at least one year.

177.1504(1)(b) (b) The U.S. savings bond is subject to the custody of this state as unclaimed property under subch. III.

177.1504(1)(c) (c) At least one year has elapsed since the administrator published the notice required under s. 177.0503.

177.1504(2) (2) An action under sub. (1) may be commenced in the circuit court for Dane County or in any county that would be a proper place of trial under s. 801.50. Subject to sub. (3), service may be made under s. 801.11 (1) (c) by publication of a notice published as a class 3 notice under ch. 985. In determining which newspaper is likely to give notice as required under s. 985.02 (1), the administrator shall consider the conditions under s. 177.0503 that made the U.S. savings bond subject to the custody of this state as unclaimed property. The administrator may postpone commencing an action under this subsection until sufficient U.S. savings bonds meet the conditions under sub. (1) to justify the expense of the action.

177.1504(3) (3) If service is made under sub. (2) by publication of a notice, the administrator shall, before publication of the notice, file with the court an affidavit setting forth the administrator’s efforts to locate the owners of each U.S. savings bond subject to the action, and, upon filing of the affidavit, there shall be a presumption that the owners cannot with reasonable diligence be served under s. 801.11 (1) (a) or (b). The affidavit shall include all of the following information with respect to the U.S. savings bond:

177.1504(3)(a) (a) A description of the efforts made by the administrator to ascertain the name and last-known address of each person appearing to be an owner of the U.S. savings bond.

177.1504(3)(b) (b) The name and last-known address of each person identified by the administrator as appearing to be an owner of the U.S. savings bond.

177.1504(3)(c) (c) The interest of each unknown person identified by the administrator as appearing to be an owner of the U.S. savings bond.

177.1504(3)(d) (d) A description of the efforts made by the administrator to notify each owner of the U.S. savings bond that the owner may be entitled to claim abandoned property.

177.1504(3)(e) (e) A statement that, based on prior efforts of the administrator to locate or contact the persons appearing to be owners of the U.S. saving bond, the administrator believes that the administrator cannot, with reasonable diligence, serve the owners with notice of the action by personal or substituted service.

177.1504(4) (4) In an action under sub. (1), if the court finds that the administrator has substantially complied with the provisions of this chapter and that no other person has proven ownership of the U.S. savings bond, the court shall enter judgment that this state has all legal title and interest, including all rights, powers, and privileges of survivorship of any owner, co-owner, or beneficiary, of the U.S. savings bond and that this state owns the U.S. savings bond free of all claims of the owner or previous holder and of all persons claiming through or under them.

177.1504(5) (5) Within 3 years after the entry of a judgment under sub. (4), the administrator shall file an application with the U.S. department of the treasury to redeem the U.S. savings bond.

177.1504 History History: 2015 a. 309; 2021 a. 87 s. 162; Stats. 2021 s. 177.1504.

177.1505 177.1505 Voluntary disclosure.

177.1505(1) (1) The administrator may enter into voluntary disclosure agreements with holders if the following conditions are met:

177.1505(1)(a) (a) The holder failed to file a report required under this chapter or the holder filed a report under this chapter and failed to include on the report all property subject to reporting.

177.1505(1)(b) (b) The administrator is not conducting an examination or investigation of the holder, as provided under s. 177.1002.

177.1505(1)(c) (c) The holder has not received a notification from the administrator of an impending examination under s. 177.1002.

177.1505(1)(d) (d) The holder has not been notified of an assessment under subch. X or XI.

177.1505(1)(e) (e) The holder is not currently the subject of a civil or a criminal prosecution involving compliance with this chapter.

177.1505(1)(f) (f) The holder agrees to report and deliver any property that was abandoned during any year to which the agreement applies within 60 days of execution of the agreement. The holder must make a reasonable effort in good faith to calculate, report, and deliver such property.

177.1505(1)(g) (g) The holder agrees to perform duties described in s. 177.0501 within 30 days of execution of the agreement, unless the agreement provides otherwise.

177.1505(1)(h) (h) The holder agrees to prospective compliance with this chapter.

177.1505(1)(i) (i) The holder agrees to waive appeal rights under this chapter for periods under the agreement.

177.1505(2) (2) For purposes of this section:

177.1505(2)(a) (a) The filing date is the date that the holder’s application for voluntary compliance is received by the administrator.

177.1505(2)(b) (b) The agreement is executed when signed by the holder and the administrator.

177.1505(2)(c) (c) The administrator may extend the time during which the holder is to comply with sub. (1) (f).

177.1505(2)(d) (d) A holder who enters into an agreement with the administrator and upon compliance with the terms in the agreement shall be relieved of any further liability with respect to the property reported by the holder under the agreement.

177.1505(2)(e) (e) A holder who enters into an agreement with the administrator shall maintain records with regard to property covered under the agreement in accordance with s. 177.0404.

177.1505(2)(f) (f) The agreement shall apply to the 5 reporting periods immediately preceding the filing date of the holder’s application.

177.1505(2)(g) (g) The administrator shall waive rights to an examination of records under s. 177.1001 with respect to the reporting periods in par. (f), and all earlier periods, except for the purpose of the administrator making determinations with respect to sub. (3) (a) and (b). Unless an agreement is null and void as provided in sub. (3), the administrator shall not have any cause of action against the holder resulting from failure of the holder to report any property abandoned during the reporting periods to which par. (f) applies or to any earlier periods.

177.1505(3) (3) The administrator may declare an executed agreement null and void. In the case of an agreement that is null and void, the holder remains subject to all other provisions of this chapter. The administrator may declare an executed agreement null and void if at least one of the following applies:

177.1505(3)(a) (a) Fraud or intentional misrepresentation by the holder or those acting on the holder’s behalf with respect to the property required to be reported for the period covered by the agreement.

177.1505(3)(b) (b) It is determined by the administrator that the property reported by the holder for the period covered by the agreement is less than 75 percent of the value of all property reportable by the holder for the period.

177.1505(3)(c) (c) The holder fails to remain in compliance with this chapter for no less than the 4 reporting periods following the final reporting period covered by the agreement.