WI Stat § 426.201 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 426 - Consumer transactions — administration.|426.201 - Registration.

426.201  Registration. (1) The registration requirements of this section apply to persons who do any of the following in this state:(a) Make or solicit consumer credit transactions, except a person who engages in consumer credit transactions solely through honoring credit cards issued by 3rd parties not related to such person.(b) Directly collect payments from or enforce rights against customers arising from such transactions, wherever made. (2) Each person subject to the registration requirements under sub. (1) shall file a registration statement with the administrator within 30 days after commencing business in this state. The registration statement shall include all of the following information:(a) The name of the person.(b) The name under which the person transacts business if different from par. (a).(c) The address of the person's principal office, which may be outside this state.(d) The addresses of all of the person's offices or retail stores, if any, in this state.(e) If consumer transactions or other business subject to this chapter are made otherwise than at an office or retail store in this state, a brief description of the manner in which they are made.(f) The address of the person's designated agent upon whom service of process may be made in this state.(fm) The year-end balance of all consumer credit transactions held by the person. In this paragraph, “year-end balance" has the meaning given under s. 426.202 (1m) (a).(g) Such other similar information as the administrator may require to effectuate the purposes and policies of chs. 421 to 427 and 429. (2m) (a) Except as provided in par. (b), each person subject to the registration requirements under sub. (1) shall file a registration statement containing the information under sub. (2) (a) to (g) no later than February 28 of each year following the year of the person's initial registration under sub. (2).(b)1. In this paragraph, “ year-end balance" has the meaning given in s. 426.202 (1m) (a).2. Paragraph (a) does not apply if the person's year-end balance is not more than $250,000. (3) The administrator shall adopt rules governing the filing of changes, additions, or modifications of the registration statement required by this section, and shall adopt rules pertaining to form, verification, fees, and similar matters pertaining to the registration. (4) The following persons shall not be subject to this section solely by reason of their debt collection activities unless they are licensed debt collectors under s. 218.04:(a) Attorneys authorized to practice law in this state or professional service corporations composed of licensed attorneys formed pursuant to ss. 180.1901 to 180.1921;(b) Duly licensed real estate brokers and real estate salespersons; and(c) Duly licensed insurance companies subject to the supervision of the office of the commissioner of insurance. (5) No person is subject to this section solely by reason of offering the discount described in s. 422.201 (8).History:  1971 c. 239; 1975 c. 407; 1979 c. 10 s. 24; 1979 c. 89; 1979 c. 162 s. 38 (3); 1979 c. 168 s. 21; 1979 c. 341 s. 12 (2); 1989 a. 303; 1995 a. 27, 328, 329; 2001 a. 16.