AB752,34,24 (4) If a holder has changed the holder's name while holding property presumed abandoned or is a successor to another person that previously held the property for the apparent owner, the holder shall include in the report under s. 177.0401 the holder's former name or the name of the previous holder, if any, and the known name and address of each previous holder of the property.

AB752,75 Section 75. 177.0403 of the statutes is created to read:

AB752,35,3 177.0403 When report to be filed. (1) Subject to sub. (2), the report under s. 177.0401 shall be filed on or before November 1 of each year and cover the 12 months preceding July 1 of that year.

AB752,35,7 (2) Before the due date for filing the report under s. 177.0401, the holder of property presumed abandoned may request the administrator to extend the time for filing. The administrator may grant an extension of 60 days or other period agreed to by the administrator.

AB752,76 Section 76. 177.0404 of the statutes is created to read:

AB752,35,12 177.0404 Retention of records by holder. (1) A holder required to file a report under s. 177.0401 shall retain records for 10 years after the later of the date on which the report was filed or the last date on which a timely report was due to be filed, unless a shorter period is prescribed by rule by the administrator.

AB752,35,14 (2) The holder may satisfy the requirement to retain records under this section through an agent.

AB752,35,15 (3) The records retained under this section shall include the following:

AB752,35,16 (a) The information required to be included in the report under s. 177.0401.

AB752,35,18 (b) The date, place, and nature of the circumstances that gave rise to the property right.

AB752,35,19 (c) The amount or value of the property.

AB752,35,20 (d) The last address of the apparent owner, if known to the holder.

AB752,35,24 (e) If the holder sells, issues, or provides to others for sale or issue in this state travelers checks, money orders, or similar instruments, other than 3rd-party bank checks, on which the holder is directly liable, a record of the instruments while they remain outstanding, indicating the state and date of issue.

AB752,77 Section 77. 177.0405 of the statutes is created to read:

AB752,36,4 177.0405 Property reportable and payable or deliverable absent owner demand. Property is reportable and payable or deliverable under this chapter even if the owner fails to make demand or present an instrument or document otherwise required to obtain payment.

AB752,78 Section 78. 177.0406 of the statutes is created to read:

AB752,36,8 177.0406 Negative reporting. (1) The administrator may require any person or persons to file a report as otherwise prescribed in this section, except that the administrator may specify a deadline after the deadline specified in s. 177.0403.

AB752,36,11 (2) The administrator may require any person to file a report even if the person believes the person is not in possession of any property reportable or deliverable under this chapter.

AB752,79 Section 79. 177.05 of the statutes is repealed.

AB752,80 Section 80 . Subchapter V (title) of chapter 177 [precedes 177.0501] of the statutes is created to read:

AB752,36,15 CHAPTER 177

AB752,36,16 SUBCHAPTER V

AB752,36,17 notice to apparent owner of

AB752,36,18 property presumed abandoned

AB752,81 Section 81. 177.0501 of the statutes is created to read:

AB752,36,24 177.0501 Notice to apparent owner by holder. (1) Subject to sub. (2), the holder of property presumed abandoned shall send to the apparent owner notice by 1st class mail that complies with s. 177.0502, in a format acceptable to the administrator, not more than 120 days nor less than 60 days before filing the report under s. 177.0401, if all of the following apply:

AB752,37,3 (a) The holder has in the holder's records an address for the apparent owner that the records do not indicate to be invalid and that is sufficient to direct the delivery of 1st class mail to the apparent owner.

AB752,37,4 (b) The value of the property is $50 or more.

AB752,37,8 (2) If an apparent owner has consented to receive e-mail delivery from the holder, the holder shall send the notice described in sub. (1) both by 1st class mail to the apparent owner's last-known mailing address and by e-mail, unless the holder believes that the apparent owner's e-mail address is invalid.