AB325,75,2019 (c) At least one year has elapsed since the administrator published the notice
20required under s. 177.18 (1g) 177.0503.
AB325,76,4 21(2) An action under sub. (1) may be commenced in the circuit court for Dane
22County or in any county that would be a proper place of trial under s. 801.50. Subject
23to sub. (3), service may be made under s. 801.11 (1) (c) by publication of a notice
24published as a class 3 notice under ch. 985. In determining which newspaper is likely
25to give notice as required under s. 985.02 (1), the administrator shall consider the

1conditions under s. 177.03 177.0503 that made the U.S. savings bond subject to the
2custody of this state as unclaimed property. The administrator may postpone
3commencing an action under this subsection until sufficient U.S. savings bonds meet
4the conditions under sub. (1) to justify the expense of the action.
AB325,163 5Section 163. 177.23 of the statutes is repealed.
AB325,164 6Section 164. 177.24 of the statutes is repealed.
AB325,165 7Section 165. 177.25 of the statutes is repealed.
AB325,166 8Section 166. 177.255 of the statutes is renumbered 177.0907 and amended to
9read:
AB325,76,24 10177.0907 Claim to recover abandoned U.S. savings bond.
11Notwithstanding s. 177.225 177.1504, any person who could have claimed an
12interest in a U.S. savings bond immediately before this state became the owner of the
13U.S. savings bond pursuant to a judgment entered under s. 177.225 177.1504 (4) may
14file a claim under s. 177.24 177.0903, and another state may file a claim under s.
15177.25 177.0901. Notwithstanding s. 177.24 (3) 177.0607 or 177.25 (2) 177.0902, if
16the claim is allowed, the administrator shall pay the claimant the amount the
17administrator received from redeeming the U.S. savings bond under s. 177.225 (5)
18177.1504, minus any amounts that were deposited in the general fund to pay
19administrative expenses under s. 177.23 (2) 177.0801 that are attributable to the
20U.S. savings bond, or, if the U.S. savings bond has not been redeemed, the amount
21the administrator estimates the administrator will receive from redeeming the U.S.
22savings bond under s. 177.225 (5) 177.1504, minus any amounts the administrator
23estimates will be deposited in the general fund to pay administrative expenses under
24s. 177.23 (2) 177.0801 that are attributable to the U.S. savings bond.
AB325,167 25Section 167. 177.26 of the statutes is repealed.
AB325,168
1Section 168. 177.265 of the statutes is repealed.
AB325,169 2Section 169. 177.27 of the statutes is repealed.
AB325,170 3Section 170. 177.28 of the statutes is repealed.
AB325,171 4Section 171. 177.29 of the statutes is repealed.
AB325,172 5Section 172. 177.30 (title) of the statutes is renumbered 177.1002 (title).
AB325,173 6Section 173. 177.30 (2) of the statutes is renumbered 177.1002 (1) and
7amended to read:
AB325,77,168 177.1002 (1) The administrator, at reasonable times and upon reasonable
9notice, may examine the records of any person to determine whether the person has
10complied with this chapter. The administrator may authorize an agent, under
11written contract with the administrator, to conduct any such examination. In
12addition, the administrator
may designate the division of banking or other
13appropriate regulatory authority to examine the records of regulated institutions to
14determine if the institutions have complied with this chapter. The administrator
15may conduct the examination even if the person believes it is not in possession of any
16property reportable or deliverable under this chapter.
AB325,174 17Section 174. 177.30 (3) of the statutes is renumbered 177.1002 (5) and
18amended to read:
AB325,77,2319 177.1002 (5) If a person is treated under s. 177.12 177.0213 as the holder of the
20property only insofar as the interest of the business association in the property is
21concerned, the administrator may examine the records of the person as provided
22under sub. (2) (1) if the administrator has given the required notice to both the person
23and the business association at least 90 days before the examination.
AB325,175 24Section 175. 177.30 (4) of the statutes is renumbered 177.1002 (2) and
25amended to read:
AB325,78,8
1177.1002 (2) If an examination of the records of a person results in the
2disclosure discovery of property reportable and deliverable under this chapter, the
3administrator may assess the cost of the examination against the holder at the rate
4of $150 a day for each examiner, but the charges may not exceed the value of the
5property found to be reportable and deliverable. The cost of examination under sub.
6(3) may be imposed only against the business association
person shall file a report
7and deliver the property to the administrator. If the property is not reported and
8delivered, the administrator shall assess the person for the value of the property
.
AB325,176 9Section 176. 177.30 (5) of the statutes is renumbered 177.1004 and amended
10to read:
AB325,78,16 11177.1004 Failure of person to maintain records. If a holder, after
12December 31, 1984,
fails to maintain the records required under s. 177.31 177.0404,
13and the records of the holder available for the periods subject to this chapter are
14insufficient to permit the preparation of a report, a court may determine the liability
15of such holder based on the court's findings as to a reasonable estimate of the amount
16due.
AB325,177 17Section 177. 177.30 (6) of the statutes is renumbered 177.1005 and amended
18to read:
AB325,78,24 19177.1005 Administrator's contract with another to conduct
20examination.
(1) Except as provided in pars. (b) and (c) subs. (2) and (3), the
21administrator may not enter into a contract or other agreement to allow any person
22to engage in an audit on a contingent fee basis of another person's documents or
23records as part of an effort to administer this chapter or to purchase information or
24documents arising from the audit.
AB325,79,5
1(2) If a person whose documents or records are audited is not domiciled in this
2state, the administrator may enter into a contract or agreement described under par.
3(a)
sub. (1) related to the person if the amount of the contingent fee under the contract
4or agreement does not exceed 12 percent of the total amount of property reportable
5and deliverable under this chapter that is disclosed by the audit.
AB325,79,7 6(3) This subsection section does not apply to information received from the
7federal government.
AB325,178 8Section 178. 177.30 (7) of the statutes is renumbered 177.1005 (4).
AB325,179 9Section 179. 177.31 of the statutes is repealed.
AB325,180 10Section 180. 177.32 of the statutes is repealed.
AB325,181 11Section 181. 177.33 of the statutes is repealed.