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.

AB325,77,2319 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.

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.

AB325,78,16 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.

AB325,78,24 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.

AB325,79,25 17177.1502 Effect of new provisions; clarification of application. (1) This
18chapter does not relieve a holder of a duty that arose before December 31, 1984 the
19effective date of this subsection .... [LRB inserts date], to report, pay, or deliver
20property. A Subject to s. 177.0610 (2) and (3), a holder who did not comply with the
21law governing unclaimed property in effect before December 31, 1984 the effective
22date of this subsection .... [LRB inserts date], is subject to the applicable enforcement
23and penalty provisions that then existed and they are continued in effect for the
24purpose of this subsection, except as provided in s. 177.29 (2) before the effective date
25of this subsection .... [LRB inserts date].

AB325,80,7

1(2) The initial report filed under this chapter for property that was not required
2to be reported before December 31, 1984 the effective date of this subsection .... [LRB
3inserts date], but which is subject to that is required to be reported under this
4chapter, shall include all items of property that would have been presumed
5abandoned during the 10-year period preceding December 31, 1984 the effective
6date of this subsection .... [LRB inserts date], as if this chapter had been in effect
7during that period.

AB325,80,1712 193.735 (1) Alternate procedure to distribute property. (intro.)
13Notwithstanding s. 177.17 (4) (a) 2. and (b) ch. 177, a cooperative may distribute any
14property required to be reported under s. 177.17 (1) subch. IV of ch. 177 to an entity
15that is exempt from taxation under section 501 (a) of the Internal Revenue Code. A
16cooperative making a distribution under this subsection shall file all of the following
17with the secretary of revenue before making the distribution:

AB325,80,2119 193.735 (2) Reporting procedure not affected. Subsection (1) does not affect
20the requirement that a cooperative report property under s. 177.17 (1) subch. IV of
21ch. 177.