SB370,35,21 20(2) A report under s. 177.0401 may include in the aggregate items valued under
21$5 each only if the apparent owner is unknown.

SB370,35,24 22(3) A report under s. 177.0401 may include personal information, as defined
23in s. 177.1401 (1), about the apparent owner or the apparent owner's property to the
24extent not otherwise prohibited by federal law.

1(4) If a holder has changed the holder's name while holding property presumed
2abandoned or is a successor to another person that previously held the property for
3the apparent owner, the holder shall include in the report under s. 177.0401 the
4holder's former name or the name of the previous holder, if any, and the known name
5and address of each previous holder of the property.

SB370,36,9 7177.0403 When report to be filed. (1) Subject to sub. (2), the report under
8s. 177.0401 shall be filed on or before November 1 of each year and cover the 12
9months preceding July 1 of that year.

SB370,36,13 10(2) Before the due date for filing the report under s. 177.0401, the holder of
11property presumed abandoned may request the administrator to extend the time for
12filing. The administrator may grant an extension of 60 days or other period agreed
13to by the administrator.

SB370,36,18 15177.0404 Retention of records by holder. (1) A holder required to file a
16report under s. 177.0401 shall retain records for 10 years after the later of the date
17on which the report was filed or the last date on which a timely report was due to be
18filed, unless a shorter period is prescribed by rule by the administrator.

SB370,36,20 19(2) The holder may satisfy the requirement to retain records under this section
20through an agent.

SB370,36,21 21(3) The records retained under this section shall include the following:

SB370,36,2222 (a) The information required to be included in the report under s. 177.0401.

SB370,36,2423 (b) The date, place, and nature of the circumstances that gave rise to the
24property right.

SB370,36,2525 (c) The amount or value of the property.

SB370,37,1

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

SB370,37,52 (e) If the holder sells, issues, or provides to others for sale or issue in this state
3travelers checks, money orders, or similar instruments, other than 3rd-party bank
4checks, on which the holder is directly liable, a record of the instruments while they
5remain outstanding, indicating the state and date of issue.

SB370,37,10 7177.0405 Property reportable and payable or deliverable absent
8owner demand. Property is reportable and payable or deliverable under this
9chapter even if the owner fails to make demand or present an instrument or
10document otherwise required to obtain payment.

SB370,37,14 12177.0406 Negative reporting. (1) The administrator may require any
13person or persons to file a report as otherwise prescribed in this section, except that
14the administrator may specify a deadline after the deadline specified in s. 177.0403.

SB370,37,17 15(2) The administrator may require any person to file a report even if the person
16believes the person is not in possession of any property reportable or deliverable
17under this chapter.

SB370,82 19Section 82 . Subchapter V (title) of chapter 177 [precedes 177.0501] of the
20statutes is created to read:

SB370,38,5

1177.0501 Notice to apparent owner by holder. (1) Subject to sub. (2), the
2holder of property presumed abandoned shall send to the apparent owner notice by
31st class mail that complies with s. 177.0502, in a format acceptable to the
4administrator, not more than 120 days nor less than 60 days before filing the report
5under s. 177.0401, if all of the following apply:

SB370,38,86 (a) The holder has in the holder's records an address for the apparent owner
7that the records do not indicate to be invalid and that is sufficient to direct the
8delivery of 1st class mail to the apparent owner.