SB756,53,16 13177.0904 When administrator must honor claim for property. (1) (a)
14The administrator shall pay or deliver property to a claimant under s. 177.0903 (1)
15if the administrator receives evidence sufficient to establish to the satisfaction of the
16administrator that the claimant is the owner of the property.
SB756,53,1817 (b) If a claim is made and allowed under subch. XIII, the administrator shall
18pay or deliver property to the apparent owner of the property.
SB756,53,23 19(2) Not later than 90 days after a claim is filed under s. 177.0903 (1), the
20administrator shall allow or deny the claim and give the claimant notice in a record
21of the decision. The administrator may refer any claim to the attorney general for
22an opinion. For each claim referred, the attorney general shall advise the
23administrator either to allow it or to deny it in whole or in part.
SB756,54,4 24(3) If the administrator denies a claim under sub. (2), the administrator shall
25inform the claimant of the reason for the denial and specify what additional evidence,

1if any, is required for the claim to be allowed. The claimant may file an amended
2claim with the administrator or commence an action under s. 177.0906. The
3administrator shall consider an amended complaint filed under this subsection as an
4initial claim.
SB756,54,6 5(4) If the administrator does not take action on a claim during the 90-day
6period following the filing of a claim under s. 177.0903 (1), the claim is denied.
SB756,116 7Section 116. 177.0905 of the statutes is created to read:
SB756,54,15 8177.0905 Allowance of claim for property. (1) Not later than 30 days after
9a claim is allowed under s. 177.0904 (2), the administrator shall pay or deliver the
10property to the owner or pay to the owner the net proceeds of a sale of the property,
11together with income or gain to which the owner is entitled under s. 177.0607. Upon
12request of the owner, the administrator may sell or liquidate a security and pay the
13net proceeds to the owner, even if the security has been held by the administrator for
14less than one year or the administrator has not complied with the notice
15requirements under s. 177.0702.
SB756,54,19 16(2) If the owner is a debtor under s. 71.93 or 71.935, before delivery or payment
17of property to an owner under sub. (1) or payment to the owner of net proceeds of a
18sale of the property, the administrator shall first setoff against the owner's debt
19under s. 71.93 or 71.935.
SB756,54,21 20(3) Any property paid or delivered to a person under this subchapter is subject
21to recovery by the administrator as provided in s. 177.1206.
SB756,117 22Section 117. 177.0906 of the statutes is created to read:
SB756,55,3 23177.0906 Action by person whose claim is denied. (1) A person aggrieved
24by a claim denial of the administrator or whose claim has not been acted upon within
2590 days after its filing may petition for judicial review of the decision or of the claim

1under s. 227.52, notwithstanding s. 227.52 (1), except that petitions for review shall
2be served and filed within 90 days after the claim denial or within 180 days after the
3filing of the claim if the administrator has failed to act on it.
SB756,55,6 4(2) If the person aggrieved establishes a claim under sub. (1) and is a debtor
5under s. 71.93 or 71.935, the administrator shall first setoff against the person's debt
6under s. 71.93 or 71.935 before delivery or payment of the property to the owner.
SB756,118 7Section 118. 177.10 of the statutes is repealed.
SB756,119 8Section 119 . Subchapter X (title) of chapter 177 [precedes 177.1001] of the
9statutes is created to read:
SB756,55,1010 CHAPTER 177
SB756,55,1111 SUBCHAPTER X
SB756,55,1212 requests for reports;
SB756,55,1313 examination of records
SB756,120 14Section 120. 177.1001 of the statutes is created to read:
SB756,55,19 15177.1001 Verified report of property. If a person does not file a report
16required under s. 177.0401 or the administrator believes that a person may have
17filed an inaccurate, incomplete, or false report, the administrator may require the
18person to file a verified report in a form prescribed by the administrator. A verified
19report shall include all of the following:
SB756,55,21 20(1) A statement as to whether the person is holding property that is reportable
21under this chapter.
SB756,55,23 22(2) A description of the property not previously reported or about which the
23administrator has inquired.
SB756,55,25 24(3) A specific identification of property described under sub. (2) about which
25there is a dispute whether it is reportable under this chapter.
SB756,56,1
1(4) The amount or value of the property.
SB756,121 2Section 121. 177.1002 (3) of the statutes is created to read:
SB756,56,63 177.1002 (3) The administrator may at reasonable times and on reasonable
4notice issue an administrative subpoena requiring the person or agent of the person
5to make records available for examination. The attorney general may bring an action
6seeking judicial enforcement of a subpoena issued under this subsection.
SB756,122 7Section 122. 177.1002 (4) of the statutes is created to read:
SB756,56,118 177.1002 (4) If any person fails to file any report or refuses to deliver property
9to the administrator as required under this chapter, the administrator may bring an
10action in a court of appropriate jurisdiction to require the filing of the report and to
11enforce delivery of the property.
SB756,123 12Section 123. 177.1003 of the statutes is created to read: