553.605553.605 Administrative assessments; investor education. 553.605(1)(1) Imposing administrative assessment with certain orders. 553.605(1)(a)(a) The division or any officer designated by the division may impose an administrative assessment in the amount provided in par. (b) on any person who is subject to an order that is issued under s. 553.24, 553.28, 553.58 (1) and (2) or 553.60 in any of the following circumstances: 553.605(1)(a)1.1. Following a hearing under s. 553.56 if the notice delivered to all interested parties includes notice of the division’s authority to impose an administrative assessment under this subsection. 553.605(1)(a)2.2. Pursuant to an order that is issued under any of the sections referred to in this paragraph and that is stipulated to by each person subject to the administrative assessment. 553.605(1)(b)(b) The amount of an administrative assessment imposed on any person under this subsection may not exceed $5,000 for each act or omission that constitutes the basis for issuing the order under any of the sections referred to in par. (a), except that the amount of the administrative assessment may not exceed $50,000 for any person subject to the order. 553.605(1)(c)(c) The division shall include any administrative assessment imposed under this subsection in the order issued under any of the sections referred to in par. (a) in the manner described in par. (a) 1. or 2. 553.605(1)(d)(d) Upon the request of the division, the department of justice may bring a civil action in the circuit court for Dane County to compel payment of any unpaid administrative assessment, unless payment of the administrative assessment is stayed under s. 227.54. 553.605(1)(e)(e) The administrative assessment under this subsection is in addition to any other penalty, remedy or sanction under this chapter. 553.605(2)(2) Investor education. All moneys collected from the administrative assessment under sub. (1) shall be credited to the appropriation under s. 20.144 (1) (i). Subject to s. 20.144 (1) (i), the division shall use moneys credited to that appropriation to provide information to residents of this state about franchise investments to help investors and potential investors evaluate their investment decisions, protect themselves from false, fraudulent or deceptive practices in connection with the offer, sale or purchase of a franchise, be alert for false or misleading advertising or other harmful practices, and know their rights as investors. 553.605 HistoryHistory: 1987 a. 381; 1995 a. 27, 364. ADMINISTRATION
553.71(1)(1) This chapter shall be administered by the division and by the department of justice when exercising its authority under s. 553.54. 553.71(2)(2) It is unlawful for the division or any of the division’s officers or employees to use for personal benefit any information which is filed with or obtained by the division and which is not generally available to the public. Nothing in this chapter authorizes the division or any of the division’s officers or employees to disclose any confidential information except among themselves or to other securities administrators or regulatory authorities or when necessary or appropriate in a proceeding or investigation under this chapter. No provision of this chapter either creates or derogates from any privilege which exists at common law or otherwise when documentary or other evidence is sought under a subpoena directed to the division or any of the division’s officers or employees. 553.72553.72 Fees and expenses. The division shall charge and collect the fees fixed by this section. 553.72(1)(1) The fee for filing a notice for the one-year effectiveness of the registration of a franchise under s. 553.26 is $400. 553.72(3)(3) The expenses reasonably attributable to the examination of any matter arising under this chapter shall be charged to the applicant or registrant involved, but the expenses so charged shall not exceed such maximum amounts as the division by rule prescribes. 553.72 Cross-referenceCross-reference: See also s. DFI-Sec 35.01, Wis. adm. code. 553.73553.73 Service of process. When any person, including any nonresident of this state, engages in conduct prohibited or made actionable by this chapter or any rule or order under this chapter, whether or not the person has filed a consent to service of process under s. 553.27 (10), and personal jurisdiction over the person cannot otherwise be obtained in this state, that conduct shall be considered equivalent to the person’s appointment of the division to be the person’s attorney to receive service of any lawful process in any noncriminal suit, action, or proceeding against the person or the person’s successor or personal representative that grows out of that conduct and that is brought under this law or any rule or order under this chapter, with the same force and validity as if served on the person personally. Service may be made by leaving a copy of the process at the office of the division, but it is not effective unless the plaintiff, who may be the division in a suit, action, or proceeding instituted by the division, immediately sends notice of the service and a copy of the process by registered or certified mail to the defendant or respondent at his or her last-known address or takes other steps that are reasonably calculated to give actual notice, and the plaintiff’s affidavit of compliance with this section is filed in the case on or before the return day of the process, if any, or within any further time that the court allows. 553.74553.74 Open records; publication. All notifications and other papers and documents filed with the division under this chapter shall be open to public inspection in accordance with rules adopted by the division. The division may publish any information filed with or obtained by the division, if, in the judgment of the division, such action is in the public interest. 553.74 Cross-referenceCross-reference: See also s. DFI-Sec 35.04, Wis. adm. code. 553.75553.75 Administrative files and opinions. 553.75(1)(1) A document is filed when it is received by the division. 553.75(2)(2) The division shall keep a register of all filings which are or have ever been effective under this chapter and predecessor laws and all denial, suspension or revocation orders which have been entered under this chapter. The register shall be open for public inspection. 553.75(3)(3) The information contained in or filed with any notification shall be made available to the public in accordance with rules adopted by the division. 553.75(4)(4) The division upon request shall furnish to any person at a reasonable charge photostatic or other copies, certified by the division if certification is requested, of any entry in the register or any order or other document on file with the division. Any copy so certified is admissible in evidence under s. 889.18. 553.75(5)(5) The division may honor requests from interested persons for interpretative opinions. 553.75 Cross-referenceCross-reference: See also ss. DFI-Sec 35.01 and 35.03, Wis. adm. code. 553.76553.76 Waivers of compliance void. Any condition, stipulation or provision purporting to bind any person acquiring any franchise to waive compliance with any provision of this chapter or any rule or order under this chapter is void. This section does not affect the settlement of disputes, claims or civil lawsuits arising or brought under this chapter. 553.76 AnnotationA contractual choice-of-forum clause was void under this section. Lulling v. Barnaby’s Family Inns, Inc. 482 F. Supp. 318 (1980). 553.78553.78 Preemption. This chapter shall not preempt the administration of ch. 96, 100, 125, 133, 168 or 218. False, fraudulent and deceptive practices in connection with the offer, purchase or sale of a franchise defined by rule of the division under s. 553.58 (1) may also constitute unfair methods of competition in business or unfair trade practices in business under s. 100.20 (1) or fraudulent advertising under s. 100.18.
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Chs. 551-553, Investment Regulation and Business Development
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