Sections
Subchapter i General Provisions 177.001 – 177.016
Subchapter ii Presumption of Abandonment 177.0201 – 177.0215
Subchapter III Taking Custody of Propertypresumed Abandoned 177.0301 – 177.0308
Subchapter iV Report by Holder 177.0401 – 177.0406
Subchapter V Notice to Apparent Owner Ofproperty Presumed Abandoned 177.0501 – 177.0505
Subchapter VI Taking Custody of Propertyby Administrator 177.0601 – 177.0610
Subchapter VII Sale of Property by Administrator 177.0701 – 177.0704
Subchapter VIII Administration of Property 177.0801 – 177.0802
Subchapter IX Claim to Recover Propertyfrom Administrator 177.0901 – 177.0907
Subchapter X Requests for Reports;Examination of Records 177.1001 – 177.1005
Subchapter XI Assessments and Appeals 177.1101 – 177.1104
Subchapter XII Enforcement 177.1201 – 177.1206
Subchapter XIII Agreement to Locateproperty of Apparent Ownerheld by Administrator 177.1301 – 177.1302
Subchapter XIV Confidentiality and Securityof Information 177.1401 – 177.1403
Subchapter XV Miscellaneous Provisions 177.1501 – 177.1505

Terms Used In Wisconsin Statutes > Chapter 177 - Uniform unclaimed property act

  • Account: means a contract of deposit of funds between a depositor and a financial institution, and includes a checking or savings account, certificate of deposit, share account and other like arrangement. See Wisconsin Statutes 705.01
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Agent: means one who solicits the purchase of service contracts, as herein defined, or transmits for another any such contract, or application therefor, to or from the company, or acts or aids in any manner in the delivery or negotiation of any such contract, or in the renewal or continuance thereof. See Wisconsin Statutes 616.71
  • Agent: means a person who, by the terms of an account, has a present right, subject to request, to payment therefrom as agent for all of the parties to the account. See Wisconsin Statutes 705.01
  • Appraisal: A determination of property value.
  • Bequeath: To gift property by will.
  • Bequest: Property gifted by will.
  • Bequest: includes a devise; "bequeath" includes devise. See Wisconsin Statutes 990.01
  • Board: means the board of directors or board of trustees, as the case may be, of the converting insurance company. See Wisconsin Statutes 644.02
  • Buying and selling service: means any act by a company, as herein defined, whereby the holder of a service contract with any such company is aided in any way in the purchase or sale of an automobile. See Wisconsin Statutes 616.71
  • Chambers: A judge's office.
  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • Chiropractor: means a person holding a license issued by the chiropractic examining board. See Wisconsin Statutes 990.01
  • Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
  • Commissioner: means the commissioner of insurance, or the commissioner's assistants or deputies, or other persons authorized to act for the commissioner. See Wisconsin Statutes 616.71
  • Communicable disease: means any disease that the department of health services determines, by rule, to be communicable in fact. See Wisconsin Statutes 990.01
  • Company: means any person, firm, partnership, company, association or corporation engaged in selling, furnishing or procuring, as principal, for a consideration, motor club service. See Wisconsin Statutes 616.71
  • Converted insurance company: means an insurance company that converted under this chapter from a mutual insurance company to a stock insurance company, or from a service insurance corporation to a mutual insurance company and then to a stock insurance company, and formed a mutual holding company. See Wisconsin Statutes 644.02
  • Converted life insurance company: means a life insurance company that converted under this chapter from a mutual life insurance company to a stock insurance company and formed a mutual holding company. See Wisconsin Statutes 644.02
  • Converting insurance company: means a domestic mutual insurance company or a domestic service insurance corporation undergoing restructuring under this chapter. See Wisconsin Statutes 644.02
  • Corporation: includes a mutual holding company formed under this chapter. See Wisconsin Statutes 644.02
  • Delinquency proceeding: means any proceeding commenced against an insurer for the purpose of liquidating, rehabilitating, reorganizing or conserving such insurer, and any summary proceeding under ss. See Wisconsin Statutes 645.03
  • Department: means the commissioner. See Wisconsin Statutes 644.02
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Discount service: means any act by a company, as herein defined, resulting in the giving of special discounts, rebates or reductions of price on gasoline, oil, repairs, parts, accessories or service for motor vehicles, to holders of service contracts with any such company. See Wisconsin Statutes 616.71
  • Dividend plan: means a Wisconsin Statutes 644.02
  • Dividend scales: means the Wisconsin Statutes 644.02
  • Divisible surplus: means the Wisconsin Statutes 644.02
  • Domiciliary state: means the state in which an insurer is incorporated or organized or, in the case of an alien insurer, the state in which the insurer has, at the commencement of delinquency proceedings, the largest amount of its assets held in trust and on deposit for the benefit of policyholders and creditors in the United States. See Wisconsin Statutes 645.03
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • Emergency road service: means any act by a company, as herein defined, consisting of the adjustment, repair or replacement of the equipment, tires or mechanical parts of an automobile so as to permit it to be operated under its own power. See Wisconsin Statutes 616.71
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Ex officio: Literally, by virtue of one's office.
  • Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
  • Financial institution: means any organization authorized to do business under state or federal laws relating to financial institutions, including, without limitation, banks and trust companies, savings banks, building and loan associations, savings and loan associations and credit unions. See Wisconsin Statutes 705.01
  • Financial service: means any act by a company, as herein defined, whereby loans or other advances of money, with or without security, are made to holders of service contracts with any such company. See Wisconsin Statutes 616.71
  • Fire department: includes a department under…. See Wisconsin Statutes 990.01
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • General assets: means all property, real, personal or otherwise, not specifically mortgaged, pledged, deposited or otherwise encumbered for the security or benefit of specified persons or limited classes of persons, and as to specifically encumbered property the term includes all such property or its proceeds in excess of the amount necessary to discharge the sums secured thereby. See Wisconsin Statutes 645.03
  • Germane: On the subject of the pending bill or other business; a strict standard of relevance.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Insurance service: means any act by a company, as herein defined, consisting of the selling or giving with a service contract, as herein defined, or as a result of membership in or affiliation with a company, as herein defined, a policy of insurance covering liability or loss by the holder of a service contract with any such company as the result of injury to the person of such service contract holder following an accident resulting from the ownership, maintenance, operation or use of a motor vehicle. See Wisconsin Statutes 616.71
  • Insured: as used in this chapter includes both the principal and obligee of a bond. See Wisconsin Statutes 645.03
  • Insurer: means any person who is doing, has done, purports to do or is licensed to do an insurance business and is or has been subject to the authority of, or to liquidation, rehabilitation, reorganization or conservation by, a commissioner. See Wisconsin Statutes 645.03
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Intermediate stock holding company: means a corporation that satisfies all of the following:
         1. See Wisconsin Statutes 644.02
  • Intestate: Dying without leaving a will.
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Joint account: means an account, other than a marital account, payable on request to one or more of 2 or more parties whether or not mention is made of any right of survivorship. See Wisconsin Statutes 705.01
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • Legal service: means any act by a company, as herein defined, consisting of the hiring, retaining, engaging or appointing of an attorney or other person to give professional advice to, or represent, holders of service contracts with any such company, in any court, as the result of liability incurred by the right of action accruing to the holder of a service contract as a result of the ownership, operation, use or maintenance of a motor vehicle. See Wisconsin Statutes 616.71
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • Legatee: A beneficiary of a decedent
  • Map service: means any act by a company, as herein defined, by which road maps are furnished without cost to holders of service contracts with any such company. See Wisconsin Statutes 616.71
  • Marital account: means an account established without the right of survivorship on or after January 1, 1986, by 2 parties who claim to be husband and wife, which is payable on request to either or both of the parties and which is designated as a marital account. See Wisconsin Statutes 705.01
  • Marital child: means either of the following:
  •       (a)    A child who is conceived or born while his or her parents are lawfully intermarried. See Wisconsin Statutes 990.01
  • Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
  • membership interests: means the voting rights of a member arising under the statutes and the articles of incorporation and bylaws of the mutual holding company, including the right to vote for the board and the right to vote on any plan of conversion, voluntary dissolution or amendment of the articles of incorporation. See Wisconsin Statutes 644.02
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Motor club service: means the rendering, furnishing or procuring of 3 or more of the following, to any person, in connection with that person's ownership, operation, use, or maintenance, of a motor vehicle, in consideration of that person's being or becoming a member of, affiliated with or entitled to membership or other motor club service from any company rendering, procuring or furnishing those services by virtue of any agreement or understanding with any such company:
  •       (a)    Towing service. See Wisconsin Statutes 616.71
  • Motorcycle: is a motor vehicle as defined in…. See Wisconsin Statutes 990.01
  • Mutual: includes a mutual holding company. See Wisconsin Statutes 644.02
  • Mutual holding company: means a mutual insurance holding company. See Wisconsin Statutes 644.02
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • osteopath: means a person holding a license or certificate of registration from the medical examining board. See Wisconsin Statutes 990.01
  • party: includes a guardian, conservator, personal representative or assignee, including an attaching creditor, of a party. See Wisconsin Statutes 705.01
  • Physician assistant: means a person licensed as a physician assistant under subch. See Wisconsin Statutes 990.01
  • Police department: includes a department under…. See Wisconsin Statutes 990.01
  • Policy: as used in this chapter includes a bond issued by a surety. See Wisconsin Statutes 645.03
  • Policyholder: includes a member. See Wisconsin Statutes 644.02
  • Policyholder: as used in this chapter includes a principal on a bond. See Wisconsin Statutes 645.03
  • Receiver: means receiver, liquidator, rehabilitator or conservator, as the context requires. See Wisconsin Statutes 645.03
  • Reciprocal state: means any state other than this state in which in substance and effect ss. See Wisconsin Statutes 645.03
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Registered nurse: includes a registered nurse who holds a multistate license, as defined in…. See Wisconsin Statutes 990.01
  • Request: means a proper request for withdrawal, or a check or other order for payment, which complies with all conditions of the account, including special requirements concerning necessary signatures and regulations of the financial institution. See Wisconsin Statutes 705.01
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Rights in surplus: means any rights of a member arising under the converting insurance company's articles of incorporation or ch. See Wisconsin Statutes 644.02
  • Secured claim: means any claim secured by mortgage, trust deed, pledge, deposit as security, escrow or otherwise, but not including special deposit claims or claims against general assets. See Wisconsin Statutes 645.03
  • Service contract: means any written agreement whereby any company, as herein defined, for a consideration, promises to render, furnish, or procure for any other person, whether that person is a member of such company or otherwise, motor club service, as herein defined. See Wisconsin Statutes 616.71
  • Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
  • Sums on deposit: means the balance payable on a multiple-party account including interest, dividends, and any deposit life insurance proceeds added to the account by reason of the death of a party. See Wisconsin Statutes 705.01
  • Supplemental appropriation: Budget authority provided in an appropriations act in addition to regular or continuing appropriations already provided. Supplemental appropriations generally are made to cover emergencies, such as disaster relief, or other needs deemed too urgent to be postponed until the enactment of next year's regular appropriations act.
  • Testator: A male person who leaves a will at death.
  • Theft service: means any act by a company, as herein defined, the purpose of which is to locate, identify or recover a motor vehicle, owned or controlled by the holder of a service contract with any such company, which has been, or may be, stolen, or to detect or apprehend the person guilty of such theft. See Wisconsin Statutes 616.71
  • This chapter: includes this chapter. See Wisconsin Statutes 644.02
  • Touring service: means any act by a company, as herein defined, by which touring information is furnished without cost to holders of service contracts with any such company. See Wisconsin Statutes 616.71
  • Towing service: means any act by a company, as herein defined, consisting of the drafting or moving of a motor vehicle from one place to another under other than its own power. See Wisconsin Statutes 616.71
  • Transfer: includes the sale and every other method, direct or indirect, of disposing of or of parting with property or with an interest therein or with the possession thereof or of fixing a lien upon property or upon an interest therein, absolutely or conditionally, voluntarily or involuntarily, by or without judicial proceedings. See Wisconsin Statutes 645.03
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC
  • Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.