SB370,50,11 9177.0702 Disposal of securities. (1) Unless the administrator determines
10that it is in the best interest of this state to do otherwise, the administrator shall hold
11all securities for at least one year before selling them.

SB370,50,15 12(2) The administrator may not sell a security listed on an established stock
13exchange for less than the price prevailing on the exchange at the time of sale. The
14administrator may sell a security not listed on an established exchange by any
15commercially-reasonable method.

SB370,50,21 17177.0703 Purchaser owns property after sale. A purchaser of property at
18a sale conducted by the administrator under this chapter takes the property free of
19all claims of the owner, a previous holder, a creditor, or a person claiming an interest
20through the owner or holder. The administrator shall execute documents necessary
21to complete the transfer of ownership to the purchaser.

SB370,50,24 23177.0704 Military medal or decoration. (1) The administrator may not sell
24a medal or decoration awarded for service in the U.S. armed forces.

SB370,51,3

1(2) The administrator may deliver a medal or decoration as described under
2sub. (1) to any of the following entities, with the entity's consent, to hold in custody
3for the owner:

SB370,51,44(a) An entity organized under section 501 (c) (19) of the Internal Revenue Code.

SB370,51,55 (b) The agency that awarded the medal or decoration.

SB370,51,66 (c) A governmental entity.

SB370,51,8 7(3) The administrator is not responsible for the safekeeping of a medal or
8decoration after it is delivered to an entity under sub. (2).

SB370,110 11Section 110 . Subchapter VIII (title) of chapter 177 [precedes 177.0801] of the
12statutes is created to read:

SB370,51,20 17177.0801 Deposit of funds by administrator. (1) Except as provided in sub.
18(2), the administrator shall deposit in the common school fund all funds received
19under this chapter, including proceeds from the sale of property under subch. VII and
20amounts received from the redemption of U.S. savings bonds under s. 177.1504.

SB370,51,24 21(2) The administrator shall deposit in the general fund an amount that the
22administrator reasonably estimates is sufficient to pay claims allowed under this
23chapter and administrative expenses. For purposes of this subsection,
24“administrative expenses” means any of the following:

SB370,51,2525 (a) Expenses for the disposition of property delivered to the administrator.

SB370,52,2

1(b) Costs of mailing and publication in connection with property delivered to
2the administrator.

SB370,52,33 (c) Reasonable service charges.

SB370,52,54 (d) Expenses incurred in examining records of or collecting property from a
5putative holder or holder.

SB370,52,66 (e) Any costs in connection with the sale of abandoned property.

SB370,52,87 (f) Any costs in connection with the action under s. 177.0907 and the
8redemption of a U.S. savings bond under s. 177.0907.

SB370,52,109 (g) Salaries of the employees of the office of the state treasurer and the
10administrator that are attributable to the administration of this chapter.

SB370,52,1111 (h) Any costs in connection with the payment of interest under s. 177.0607.