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

SB370,111 16Section 111. 177.0801 of the statutes 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.

SB370,112 12Section 112. 177.0802 of the statutes is created to read:

SB370,52,14 13177.0802 Administrator to retain records of property. The administrator
14shall do all of the following:

SB370,52,17 15(1) Record the name, last-known address, social security number or taxpayer
16identification number, and date of birth of each person shown on a report filed under
17s. 177.0401 to be the apparent owner of property delivered to the administrator.

SB370,52,20 18(2) Record the name, last-known address, social security number or taxpayer
19identification number, and date of birth of each insured or annuitant and beneficiary
20shown on the report.

SB370,52,23 21(3) For each policy of insurance or annuity contract listed in the report of an
22insurance company, record the policy or account number, the name of the company,
23and the amount due or paid.

SB370,52,25 24(4) For each apparent owner listed in the report, record the name of the holder
25that filed the report and the amount due or paid.

SB370,53,3

1(5) For each U.S. savings bond, record the name and last-known address of
2each owner of the U.S. savings bond and the issue date, face amount, and serial
3number of the U.S. savings bond.

SB370,113 4Section 113. 177.09 of the statutes is renumbered 177.0215.

SB370,114 5Section 114 . Subchapter IX (title) of chapter 177 [precedes 177.0901] of the
6statutes is created to read: