reglab/statecodes huggingface dataset:
2023 Wisconsin Statutes & Annotations › Chapter 422 - Consumer credit transactions. › 422.502 - Registration requirements.

422.502
Registration requirements.
(1)
A person may not act as a credit services organization unless the person has been issued a certificate of registration from the administrator and the person has complied with the bond or letter of credit requirements under sub. (3).
(2)
A person desiring to act as a credit services organization shall apply to the administrator for a certificate of registration on a form prescribed by the administrator and shall pay the administrator a registration fee of $100.
(3)
(a)
A person desiring to act as a credit services organization shall obtain a surety bond that is issued by a surety company admitted to do business in this state or an irrevocable letter of credit from a federally insured bank or savings and loan association located in this state. The bond or letter of credit shall be in an amount equal to $25,000.
(b)
The credit services organization shall file a copy of the bond or letter of credit with the administrator.
(c)
The bond or letter of credit shall be in favor of this state for the benefit of any person who is damaged by a violation of this subchapter. The bond or letter of credit shall also be in favor of any person damaged by a violation of this subchapter.
(d)
A person claiming against the bond or letter of credit for a violation of this subchapter may maintain an action at law against the credit services organization and against the surety or financial institution. The surety or financial institution may be liable only for actual damages and not for punitive damages. The aggregate liability of the surety or financial institution to all persons damaged by a credit services organization's violation of this subchapter may not exceed the amount of the bond or letter of credit.
(4)
A certificate of registration as a credit services organization expires on December 1 of the even-numbered year after issuance. A credit services organization may renew a certificate of registration by submitting to the administrator a renewal application and a $100 renewal fee on or before the expiration date of the existing certificate of registration. A credit services organization shall refile a bond or letter of credit that satisfies sub. (3) as part of the renewal application.
History:  1991 a. 244; 1999 a. 85.
2023 Wisconsin Statutes & Annotations › Chapter 422 - Consumer credit transactions. › 422.503 - Prohibited activities.

422.503
Prohibited activities.
(1)
A credit services organization, and its salespersons, agents and representatives who offer or sell the services of the credit services organization, may not do any of the following:
(a)
Charge or receive any money or other valuable consideration solely for referral of the buyer to a merchant who will or may extend credit to the buyer, if the credit extended to the buyer is upon substantially the same terms as is credit that is available to the general public.
(b)
Make, or counsel or advise any buyer to make, any statement which is untrue or misleading and which is known, or which by the exercise of reasonable care should be known, to be untrue or misleading, to a consumer reporting agency or to any person who has extended credit to a buyer or to whom a buyer is applying for an extension of credit, with respect to a buyer's credit worthiness, credit standing or credit capacity.
(c)
Make or use any untrue or misleading representations in the offer or sale of the services of the credit services organization or engage, directly or indirectly, in any act, practice or course of business that operates or would operate as a fraud or deception upon any person in connection with the offer or sale of the services of a credit services organization.
(2)
A violation of this section is subject to s. 425.305.
History:  1991 a. 244.
2023 Wisconsin Statutes & Annotations › Chapter 422 - Consumer credit transactions. › 422.504 - Information statement.

422.504
Information statement.
(1)
Before the execution of a contract or agreement between the buyer and a credit services organization or before the credit services organization receives from the buyer any money or other valuable consideration, the credit services organization shall provide the buyer a written statement that includes all of the information required under sub. (2). The credit services organization shall maintain for a period of 2 years an exact copy of the statement that is signed by the buyer to acknowledge receipt of the statement.
(2)
The information statement under sub. (1) shall include all of the following information:
(a)
Notice of the buyer's right to review any file on the buyer maintained by a consumer reporting agency; the buyer's right to obtain a copy of that file; the approximate price the buyer may be charged by the consumer reporting agency for a copy of the file; and the buyer's right to obtain a copy of the buyer's file free of charge from the consumer reporting agency if the buyer requests the copy within 30 days after the buyer receives notice of a denial of credit.
(b)
Notice of the buyer's right to dispute the completeness or accuracy of any item contained in any file on the buyer maintained by a consumer reporting agency.
(c)
A description of the services to be performed by the credit services organization for or on behalf of the buyer and the total amount the buyer will be charged for the services.
(d)
Notice of the buyer's right to proceed against the bond or letter of credit obtained by the credit services organization, a description of procedures that the buyer is to follow to proceed against the bond or letter of credit, and the name and address of the surety company that issued the bond or the name and address of the financial institution that issued the letter of credit.
(3)
A violation of this section is subject to s. 425.305.
History:  1991 a. 244.
2023 Wisconsin Statutes & Annotations › Chapter 422 - Consumer credit transactions. › 422.505 - Contracts.

422.505
Contracts.
(1)
Every contract between a buyer and a credit services organization for the purchase of the services of the credit services organization shall be in writing, shall be dated and shall be signed by the buyer. The contract shall include all of the following:
(a)
A conspicuous statement, in not less than 10-point boldface type and in immediate proximity to the space reserved for the signature of the buyer, as follows: “YOU, THE BUYER, MAY CANCEL THIS CONTRACT AT ANY TIME BEFORE MIDNIGHT OF THE 5TH DAY AFTER THE DATE OF THE TRANSACTION. SEE THE ATTACHED NOTICE OF CANCELLATION FORM FOR AN EXPLANATION OF THIS RIGHT."
(b)
The terms and conditions of payment, including the total of all payments to be made by the buyer, whether to the credit services organization or to another person.
(c)
A description of the services to be performed by the credit services organization for or on behalf of the buyer, including all guarantees or promises of full or partial refunds, and the estimated date by which such services are to be performed or the estimated length of time for performing such services.
(d)
The credit services organization's principal business address and the name and address of its agent in this state, other than the department of financial institutions, who is authorized to receive service of process.
(e)
A conspicuous statement, in not less than 8-point boldface type, as follows: “THIS CREDIT SERVICES ORGANIZATION IS REGISTERED BY THE DEPARTMENT OF FINANCIAL INSTITUTIONS at .... (insert address)."
(f)
Any disclosures required under subch. III.
(2)
(a)
The contract shall be accompanied by a completed form in duplicate, captioned “NOTICE OF CANCELLATION", which shall be attached to the contract and easily detachable, and which shall contain the following statement in not less than 10-point type and written in the same language as used in the contract:
Notice of cancellation
You may cancel this contract, without any penalty or obligation, within 5 days after the date on which the contract is signed.
If you cancel, any payment made by you under this contract will be returned within 15 days following receipt by .... (name of credit services organization) of your cancellation notice.
To cancel this contract, mail or deliver a signed and dated copy of this cancellation notice, or any other written notice, to .... (name of credit services organization) at .... (address of credit services organization), .... (place of business, if different from address) not later than midnight .... (date). I hereby cancel this transaction.
.... (Date)
.... (Buyer's signature)
(b)
A copy of the fully completed contract and any other document the credit services organization requires the buyer to sign shall be given to the buyer at the time the contract or document is signed.
(3)
A credit services organization's breach of a contract under this section or of any obligation arising from such a contract is a violation of this subchapter.
(4)
A violation of this section is subject to s. 425.305.
History:  1991 a. 244; 1995 a. 27, 216.
2023 Wisconsin Statutes & Annotations › Chapter 422 - Consumer credit transactions. › 422.506 - Waiver.

422.506
Waiver.
(1)
A waiver by a buyer of any provision of this subchapter shall be void and unenforceable. An attempt by a credit services organization to have a buyer waive any right under this subchapter is a violation of this subchapter.
(2)
A violation of this section is subject to s. 425.305.
History:  1991 a. 244.
2023 Wisconsin Statutes & Annotations › Chapter 423 - Consumer approval transactions and other consumer rights. › 423.201 - Definition.

423.201
Definition.
In this subchapter:
(1)
“Consumer approval transaction" means a consumer transaction other than a sale or lease or listing for sale of real property or a sale of goods at auction that:
(a)
Is initiated by face-to-face solicitation away from a regular place of business of the merchant or by mail or telephone solicitation directed to the particular customer; and
(b)
Is consummated or in which the customer's offer to contract or other writing evidencing the transaction is received by the merchant away from a regular place of business of the merchant and involves the extension of credit or is a cash transaction in which the amount the customer pays exceeds $25.
(2)
“Consumer approval transaction" does not include a catalog sale that is not accompanied by any other solicitation or a consumer loan conducted and consummated entirely by mail.
History:  1971 c. 239; 1983 a. 389; 1997 a. 302; 1999 a. 32; 2011 a. 257.
This section does not restrict the ability of a merchant or seller to have more than one regular place of business. Reusch v. Roob, 2000 WI App. 76, 234 Wis. 2d 270, 610 N.W.2d 168, 98-3102.
2023 Wisconsin Statutes & Annotations › Chapter 423 - Consumer approval transactions and other consumer rights. › 423.202 - Right to cancel: manner of cancellation.

423.202
Right to cancel: manner of cancellation.
(1)
Except as provided in sub. (4), in addition to any right otherwise to revoke an offer, to rescind the transaction or to exercise any remedy for the merchant's breach, a customer has the right to cancel a consumer approval transaction until midnight of the 3rd business day after the merchant has given the notice to the customer in accordance with s. 423.203.
(2)
Except as provided in sub. (2m), notice of cancellation shall be by mail addressed to the merchant and shall be considered given at the time mailed.
(2m)
If the property which is the subject of the transaction must be custom made in the ordinary course of business, and is unique to that transaction, the merchant may require that the notice of cancellation, if given, be made by certified or registered mail.
(3)
Notice of cancellation by the customer need not take a particular form and is sufficient if it indicates by any form of written expression the intention of the customer not to be bound by the consumer approval transaction.
(4)
The customer may not cancel a consumer approval transaction if:
(a)
The customer has determined that a delay of 3 business days in performance of the merchant's obligation under the transaction will jeopardize the welfare, health or safety of natural persons or endanger property which the customer owns or for which the customer is responsible;
(b)
The customer furnishes the merchant with a separate dated and signed personal statement describing the situation requiring immediate remedy and modifying or waiving the customer's right of rescission. The use of printed forms for this purpose is prohibited;
(c)
The merchant in good faith makes a substantial beginning of performance of the contract before the customer gives notice of cancellation; and
(d)
In the case of goods, the goods cannot be returned to the merchant in substantially as good condition as when received by the customer.
History:  1971 c. 239; 1973 c. 3; 1991 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 423 - Consumer approval transactions and other consumer rights. › 423.203 - Notice to customer.

423.203
Notice to customer.
(1)
Whenever a customer has the right to cancel a consumer approval transaction, the merchant shall give 2 copies of a typed or printed notice of that fact to the customer. The notice must:
(a)
Be printed in capital and lowercase letters of not less than 12-point boldface type;
(b)
Appear under the conspicuous caption: “CUSTOMER'S RIGHT TO CANCEL";
(c)
Read as follows: You may cancel this agreement by mailing a written notice to (insert name and mailing address of seller) before midnight of the third business day after you signed this agreement. If you wish, you may use this page as that notice by writing “I hereby cancel" and adding your name and address. A duplicate of this page is provided by the seller for your records.
(2)
A merchant who in the ordinary course of business regularly uses a language other than English in any advertising or other solicitation of customers or in any printed forms for use by customers or in any face-to-face negotiations with the merchant's customers shall give the notice described in this section to a customer whose principal language is such other language both in English and in the other language.
(3)
The notice required under this section must be delivered either after all the credit cost disclosures have been made to the customer as required by the federal consumer credit protection act and the customer has signed the writing evidencing the transaction, or contemporaneously therewith, but not before.
(3m)
Compliance with requirements of federal statutes, rules or regulations governing form of notice of right of cancellation, in consumer approval transactions otherwise subject to this chapter, shall be deemed to satisfy the notice requirements of this chapter.
(4)
A violation of this section is subject to s. 425.304.
History:  1971 c. 239; 1973 c. 3; 1991 a. 316.
Legislative Council Note, 1973: [As to sub. (3m)] Allows compliance with federal notice requirements as to form to constitute compliance with the notice requirements of this chapter. This subsection is directed primarily at merchants with interstate operations who are complying with the federal trade commission's recently-promulgated trade regulation on door-to-door sales.
This subsection goes only to the issue of notice. It is preferable not to require interstate merchants to print special forms just to comply with Wisconsin law. It does not accept other portions of the federal rules, such as return of downpayment and repossessing of already-delivered property. These subjects will continue to be governed by Wisconsin law. [Bill 432-A]
2023 Wisconsin Statutes & Annotations › Chapter 423 - Consumer approval transactions and other consumer rights. › 423.204 - Restoration of down payment; security interest void; return of property.

423.204
Restoration of down payment; security interest void; return of property.
(1)
Within 10 days after a consumer approval transaction has been canceled, the merchant shall cause any money paid by the customer, including a down payment, to be returned to the customer and shall take any appropriate action to reflect the termination of the transaction including any security interest created as a result.
(2)
Upon cancellation, as allowed by this section, the customer is not liable for any finance or other charge and the transaction, including any security interest, is void.
(3)
If the merchant has received any property from the customer, the merchant shall return such property in substantially as good condition as it was when it was given within 20 days after the cancellation of the transaction. If such property is not returned within such time, the customer shall have the right to recover the property or the greater of its agreed or fair market value at retail.
History:  1971 c. 239; 1991 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 423 - Consumer approval transactions and other consumer rights. › 423.205 - Duty of customer.

423.205
Duty of customer.
(1)
The customer has the duty to take reasonable care of the delivered property in the customer's possession from the time of delivery until the expiration of a reasonable time after tender, not to exceed 20 days.
(2)
Upon the performance of the merchant's obligations under s. 423.204, the customer shall tender the property to the merchant.
(3)
Tender shall be made at the location of the property or at the residence of the customer at the option of the customer.
(4)
If the merchant does not take possession of the property within 20 days after tender by the customer, ownership of the property vests in the customer without obligation on the customer's part to pay for it.
(5)
If the merchant has performed any services pursuant to a consumer approval transaction prior to its cancellation, the merchant is entitled to no compensation.
History:  1971 c. 239; 1973 c. 3.; 1991 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 423 - Consumer approval transactions and other consumer rights. › 423.301 - False, misleading or deceptive advertising.

423.301
False, misleading or deceptive advertising.
No merchant shall advertise, print, display, publish, distribute or broadcast or cause to be advertised, printed, displayed, published, distributed or broadcast, in any manner any statement or representation with regard to the extension of consumer credit including the rates, terms or conditions for the extension of such credit, which is false, misleading, or deceptive, or which omits to state material information with respect to the extension of credit that is necessary to make the statements therein not false, misleading or deceptive. With respect to matters specifically governed by the federal consumer credit protection act, compliance with such act satisfies the requirements of this section.
History:  1971 c. 239.
2023 Wisconsin Statutes & Annotations › Chapter 423 - Consumer approval transactions and other consumer rights. › 423.302 - Remedies and penalty.

423.302
Remedies and penalty.
In addition to any other remedy provided by law, a customer who has been induced to consummate a consumer credit transaction as a result of advertising in violation of s. 423.301 shall be entitled to a recovery from the merchant in accordance with s. 425.305.
History:  1971 c. 239.
2023 Wisconsin Statutes & Annotations › Chapter 423 - Consumer approval transactions and other consumer rights. › 423.401 - Credit card identification information.

423.401
Credit card identification information.
(1)
Limitation. Except as provided in sub. (2), a merchant may not record a customer's address, telephone number or any other identification information as a condition for accepting a credit card as payment for a consumer credit transaction.
(2)
Exceptions. A merchant may record a customer's address or telephone number if any of the following conditions exists:
(a)
The credit card issuer does not require the merchant to obtain from the issuer prior authorization as to the availability of credit in order to complete the credit card transaction.
(b)
The merchant requires the information for shipping, delivery, service orders or installation purposes or to notify the customer of a special order.
(3)
Remedies. Whoever violates this section is subject to the remedies and penalties under s. 425.303.
History:  1991 a. 158.
2023 Wisconsin Statutes & Annotations › Chapter 423 - Consumer approval transactions and other consumer rights. › 423.402 - Check identification information.

423.402
Check identification information.
(1)
Limitation. Except as provided in sub. (4), a merchant may not request or record a customer's credit card number as a condition for accepting a check or share draft as payment for a consumer transaction.
(2)
Credit card display. If a customer pays for a consumer transaction by check or share draft, a merchant may request a customer to display a credit card as an indication of the customer's financial responsibility or as additional identification, but the merchant may not record any information except the type of credit card displayed and the credit card expiration date.
(3)
Check acceptance. This section does not require a merchant to accept a check or share draft as payment for a consumer transaction, whether or not a credit card is displayed.
(4)
Exception. A merchant may request and record a customer credit card number as a condition for accepting a check or share draft if all of the following conditions are met:
(a)
The merchant has contracted with the card issuer of the requested credit card to cash or accept a check or share draft presented by a holder of the requested credit card.
(b)
The card issuer of the requested credit card has contracted with the merchant to guarantee a check or share draft presented to the merchant by a holder of the requested credit card.
(5)
Remedies. Whoever violates this section is subject to the remedies and penalties under s. 425.303.
History:  1991 a. 158.
2023 Wisconsin Statutes & Annotations › Chapter 424 - Consumer transactions — insurance. › 424.201 - Definition “consumer credit insurance".

424.201
Definition “consumer credit insurance".
“Consumer credit insurance" means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include:
(1)
Insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring customers of the creditor;
(2)
Insurance indemnifying the creditor against loss due to the customer's default; or
(3)
A guaranteed asset protection waiver, as defined in s. 218.0148 (1) (e).
History:  1971 c. 239; 1973 c. 3; 1985 a. 256; 1995 a. 329; 2017 a. 161.
2023 Wisconsin Statutes & Annotations › Chapter 424 - Consumer transactions — insurance. › 424.202 - Charge for insurance.

424.202
Charge for insurance.
(1)
Except as otherwise provided in this chapter and subject to the provisions on additional charges (s. 422.202), and maximum charges (s. 422.201) a creditor may agree to provide insurance, and may contract for and receive a charge for insurance separate from and in addition to other charges. A creditor need not make a separate charge for insurance provided or required by the creditor.
(2)
This chapter does not authorize the issuance of any insurance prohibited under any statute, or rule thereunder, governing the business of insurance.
History:  1971 c. 239; 1991 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 424 - Consumer transactions — insurance. › 424.203 - Conditions applying to insurance to be provided by creditor.

424.203
Conditions applying to insurance to be provided by creditor.
(1)
When the parties agree that consumer credit insurance shall be provided, at the time the indebtedness is incurred there shall be delivered to the customer the individual policy, a group certificate of insurance, a copy of the application for such insurance or a notice of proposed insurance.
(2)
The evidence of insurance provided pursuant to sub. (1) shall set forth the name and home office address of the insurer, the name or names of the customers, the premium or amount of payment by the customer, if any, separately for credit life insurance and credit accident and sickness insurance, the amount, term and a brief description of the coverage provided, including all exclusions and exceptions.
(3)
Within 30 days of the date upon which the indebtedness is incurred, the insurer shall cause the individual policy or group certificate of insurance to be delivered to the customer if it is not delivered at the time the indebtedness is incurred.
(4)
Within 10 days from the date the indebtedness is incurred, the customer shall be permitted to return the policy, certificate of insurance or the notice of proposed insurance to the creditor and to receive a refund of any premium paid for the insurance if the customer is not satisfied with the insurance for any reason. Such insurance shall then be void and the parties will be in the same position as if no certificate, policy or notice of proposed insurance had been issued. Conspicuous notice of the right to return the policy, certificate of insurance or notice of proposed insurance shall be furnished with or in the policy, certificate or notice of proposed insurance.
(5)
A violation of this section is subject to s. 425.303.
History:  1971 c. 239; 1973 c. 3 ss. 59, 69; 1991 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 424 - Consumer transactions — insurance. › 424.204 - Maximum charge by creditor for insurance.

424.204
Maximum charge by creditor for insurance.
(1)
Except as provided in sub. (2), if a creditor contracts for or receives a charge for insurance, the amount charged for the insurance may not exceed the premium to be charged by the insurer, as computed at the time the charge to the customer is determined, conforming to any rate filings required by law and made by the insurer with the commissioner of insurance.
(2)
A creditor who provides consumer credit insurance in relation to an open-end credit plan may calculate the charge to the customer in each billing cycle by applying the current premium rate to either:
(a)
The average daily unpaid balance of the obligation in the cycle;
(b)
The unpaid balance of the obligation or a median amount within a specified range of unpaid balances of the obligation on approximately the same day of the cycle. The day of the cycle need not be the day used in calculating the finance charge (s. 422.201), but the specified range shall be the range used for that purpose; or
(c)
The unpaid balances of principal calculated according to the actuarial method.
(3)
A violation of this section is subject to s. 425.304.
History:  1971 c. 239.
2023 Wisconsin Statutes & Annotations › Chapter 424 - Consumer transactions — insurance. › 424.205 - Refund or credit required.

424.205
Refund or credit required.
(1)
Upon prepayment in full of a consumer credit transaction by the proceeds of consumer credit insurance, the customer or the customer's estate is entitled to a refund of any portion of a separate charge for insurance which by reason of prepayment is retained by the original creditor or any assignee or returned to either of them by the insurer.
(2)
This chapter does not require the creditor to grant a refund or credit if all the refunds and credits due to the customer under chs. 421 to 427 amount to less than $1 and, except as provided in sub. (1), does not require the creditor to account to the debtor for any portion of a separate charge for insurance because:
(a)
The insurance is terminated by performance of the insurer's obligation;
(b)
The creditor pays or accounts for premiums to the insurer in amounts and at times determined by the agreement between them; or
(c)
The creditor receives directly or indirectly under any policy of insurance a gain or advantage not prohibited by law.
(3)
Except as provided in sub. (2), the creditor shall promptly make or cause to be made an appropriate refund or credit to the customer with respect to any separate charge made to the customer for insurance if:
(a)
The insurance is not provided or is provided for a shorter term than that for which the charge to the debtor for insurance was computed; or
(b)
The insurance terminates prior to the end of the term for which it was written because of prepayment in full or otherwise.
(4)
A refund or credit required by sub. (3) is appropriate as to amount if it is computed according to either s. 422.209 or a method prescribed or approved by the commissioner of insurance.
History:  1971 c. 239; 1979 c. 89; 1991 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 424 - Consumer transactions — insurance. › 424.206 - Deferral, refinancing and consolidation agreements.

424.206
Deferral, refinancing and consolidation agreements.
(1)
The creditor may not receive a separate charge for insurance in connection with a deferral (s. 422.204), a refinancing (s. 422.205) or a consolidation (s. 422.206) unless:
(a)
The customer agrees in writing at the time of deferral, refinancing or consolidation that a specific charge may be made;
(b)
The customer is to be provided with insurance for an amount or a term, or insurance of a kind, in addition to that to which the customer would have been entitled had there been no deferral, refinancing or consolidation;
(c)
The customer receives a refund or credit on account of any unexpired term of existing insurance in the amount that would be required if the insurance were terminated (s. 424.205); and
(d)
The charge does not exceed the amount permitted by this chapter (s. 424.204).
(2)
A creditor may not contract for or receive a separate charge for insurance which duplicates insurance with respect to which the creditor has previously contracted for or received a separate charge.
(3)
A violation of this section is subject to the provisions of s. 425.303.
History:  1971 c. 239; 1991 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 424 - Consumer transactions — insurance. › 424.207 - Term of insurance.

424.207
Term of insurance.
(1)
Consumer credit insurance provided by a creditor may be subject to the furnishing of evidence of insurability satisfactory to the insurer. Whether or not such evidence is required, the term of the insurance shall commence no later than when the customer becomes obligated to the creditor or when the customer applies for the insurance, whichever is later except as follows:
(a)
If any required evidence of insurability is not furnished until more than 30 days after the term would otherwise commence, the term may commence on the date when the insurer determines the evidence to be satisfactory; or
(b)
If the creditor provides insurance not previously provided covering debts previously created, the term may commence on the effective date of the policy.
(2)
In the case where the commencement of the insurance is delayed, the customer to the extent the customer has paid a premium charge for any period of time before the insurance became effective, shall be entitled to a rebate or credit of such premium according to s. 424.205.
(3)
The originally scheduled term of the insurance shall extend at least until the due date of the last scheduled payment of the obligation, except as follows:
(a)
If the insurance relates to an open-end credit plan, the term need extend only until the payment of the account and may be sooner terminated after at least 30 days' notice to the customer; or
(b)
If the customer is advised in writing in a clear and conspicuous manner that the insurance will be written for a specified shorter time, the term need extend only until the end of the specified time.
(4)
The term of the insurance shall not extend more than 15 days after the originally scheduled due date of the last scheduled payment of the debt unless it is extended without additional cost to the customer or as an incident to a deferral, refinancing or consolidation agreement.
History:  1971 c. 239; 1991 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 424 - Consumer transactions — insurance. › 424.208 - Amount of insurance.

424.208
Amount of insurance.
(1)
The initial amount of credit life insurance shall not exceed the total amount repayable under the contract of indebtedness however the indebtedness may be repayable, but in cases where an indebtedness is repayable in substantially equal installments, the amount of insurance shall at no time exceed the scheduled or actual amount of unpaid indebtedness, whichever is greater.
(2)
The total amount of indemnity payable by credit accident and sickness insurance in the event of a disability, shall not exceed the aggregate of the periodic scheduled unpaid installments of the indebtedness, and the amount of each periodic indemnity payable shall not exceed the original indebtedness divided by the number of periodic installments.
History:  1971 c. 239; 1973 c. 3 ss. 60, 69; 1997 a. 302.
Legislative Council Note, 1973: [As to sub. (1) (intro.)] Clarifies the application of this subsection to open-end accounts. As the section reads prior to amendment, it could be construed to mean that maximum credit life insurance coverage would be determined by the account balance at the time the insurance was initially contracted for. However, the intent is that the amount of insurance fluctuate with, but never exceed, the account balance in open-end credit accounts. For verification, see s. 424.204 (2), which uses the current account balance to determine the premium charge. [Bill 432-A]
2023 Wisconsin Statutes & Annotations › Chapter 424 - Consumer transactions — insurance. › 424.302 - Insurance on creditor's interest only.

424.302
Insurance on creditor's interest only.
If a creditor contracts for or receives a separate charge for insurance against loss of or damage to property, the risk of loss or damage not willfully caused by the customer is on the debtor only to the extent of any deficiency in the effective coverage of the insurance, even though the insurance covers only the interest of the creditor.
History:  1971 c. 239.
2023 Wisconsin Statutes & Annotations › Chapter 424 - Consumer transactions — insurance. › 424.303 - Cancellation by creditor.

424.303
Cancellation by creditor.
(1)
A creditor shall not request cancellation of a policy of property or liability insurance except after the customer's default (s. 425.103), or in accordance with a written agreement by the customer at any time other than when the original transaction is entered into. In either case the cancellation does not take effect until written notice is delivered to the customer or mailed to the customer at an address as stated by the customer. The notice shall state that the policy may be canceled on a date not less than 30 days after the notice is delivered, or, if the notice is mailed, not less than 33 days after it is mailed.
(2)
Following cancellation, the customer shall be entitled to a rebate or credit for any prepaid charges which represent the premium for a period following cancellation.
(3)
This section shall not apply to a contract issued by an insurance premium finance company licensed under s. 138.12.
History:  1971 c. 239; 1973 c. 3; 1991 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 424 - Consumer transactions — insurance. › 424.402 - Insurance cancellation credit or payment.

424.402
Insurance cancellation credit or payment.
(1)
Any customer who cancels insurance or a service contract under s. 424.304 or 424.401 shall receive one of the following:
(a)
A credit against the balance of the customer's obligation or account in the amount of the insurance premiums or service contract charges plus that portion of the finance charge attributable to the insurance premiums or service contract charges.
(b)
A payment in the amount of the full amount of the insurance premiums or service contract charges, which amount shall continue to be part of the customer's obligation, if the creditor offers and the customer elects this option.
(2)
With respect to the application of a credit under sub. (1) (a) to a customer's obligation for a consumer credit transaction other than one pursuant to an open-end credit plan, a merchant shall do one of the following:
(a)
If the obligation is for a consumer credit transaction other than a precomputed consumer loan, apply the credit in one of the following ways:
1.
First against the final installment due on the customer's obligation and then to the preceding installments in the reverse order in which they are due.
2.
Against the balance of the customer's obligation and proportionately reduce the amount of each remaining installment.
(b)
If the obligation is for a precomputed consumer loan, apply the credit against the balance of the customer's obligation, compute and apply a refund of the finance charge, less the portion included in the credit, in the manner described in s. 422.209 (2) as of the date of the loan or the nearest scheduled installment due date, and thereafter charge interest at a rate not to exceed the annual percentage rate of finance charge which was disclosed to the customer when the loan was made.
(3)
If a credit under sub. (1) (a) is applied to a precomputed consumer loan, the finance charge resulting after application of the credit shall be the finance charge for the precomputed consumer loan, but the cancellation shall not otherwise alter the customer's obligation for the precomputed consumer loan.
(4)
A contract between an insurer and a creditor may not provide for a refund to the creditor upon cancellation by a customer under s. 424.304 or 424.401 in an amount less than the amount of the insurance premiums that the creditor must credit to the customer's account or pay to the customer under sub. (1).
(5)
A violation of this section is subject to s. 425.303.
History:  1985 a. 256.
2023 Wisconsin Statutes & Annotations › Chapter 424 - Consumer transactions — insurance. › 424.501 - False, misleading or deceptive insurance solicitation.

424.501
False, misleading or deceptive insurance solicitation.
(1)
A creditor may not solicit or offer for sale any insurance product in connection with a consumer credit transaction in any manner that is false, misleading or deceptive or that omits to state material information with respect to the insurance or the consumer credit transaction that is necessary to make the solicitation or offer not false, misleading or deceptive.
(2)
It is not a violation of sub. (1) to use printed materials or forms that have been approved for use by the office of the commissioner of insurance.
(3)
A violation of this section is subject to s. 425.304.
History:  1985 a. 256.
2023 Wisconsin Statutes & Annotations › Chapter 424 - Consumer transactions — insurance. › 424.502 - Insurance commissions; limitations.

424.502
Insurance commissions; limitations.
A creditor or insurer may not pay to an employee of the creditor who participates in the processing of consumer credit transactions any commission or bonus that exceeds an amount equal to 25 percent of the employee's annual earnings for the sale of insurance in connection with those consumer credit transactions. Insurance does not include a warranty plan for which the commissioner of insurance has issued a limited certificate of authority pursuant to rule promulgated under s. 600.01 (1) (b) 5.
History:  1985 a. 256.
2023 Wisconsin Statutes & Annotations › Chapter 424 - Consumer transactions — insurance. › 424.601 - Cooperation between administrator and commissioner of insurance.

424.601
Cooperation between administrator and commissioner of insurance.
The administrator and the commissioner of insurance shall consult and assist one another in maintaining compliance with this chapter. They may jointly or severally pursue investigations, prosecute suits and take other official action, as may seem to them appropriate, if either of them is otherwise empowered to take the action. If the administrator is informed of a violation or suspected violation by an insurer of this chapter, or of chs. 600 to 646, rules and regulations of this state, the administrator shall advise the commissioner of insurance of the circumstances, and the commissioner of insurance may act under the laws of this state.
History:  1971 c. 239; 1973 c. 3; 1977 c. 339 s. 43; 1979 c. 89; 1985 a. 256 s. 14; Stats. 1985 s. 424.601.
2023 Wisconsin Statutes & Annotations › Chapter 424 - Consumer transactions — insurance. › 424.602 - Administrative action of commissioner of insurance.

424.602
Administrative action of commissioner of insurance.
To the extent that the commissioner of insurance's responsibility under this chapter requires, the commissioner shall issue rules with respect to insurers and with respect to refunds (s. 424.205), forms, schedules of premium rates and charges (s. 424.209), and the commissioner's approval or disapproval thereof and, in case of violation, may make an order for compliance.
History:  1971 c. 239; 1985 a. 256 s. 16; Stats. 1985 s. 424.602; 1991 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 425 - Consumer transactions — remedies and penalties. › 425.102 - Scope.

425.102
Scope.
This subchapter applies to actions or other proceedings brought by a creditor to enforce rights arising from consumer credit transactions and to extortionate extensions of credit under s. 425.108.
History:  1971 c. 239.
The scope language of this section bars a customer from bringing a claim of unconscionability under s. 425.107 except in response to “actions or other proceedings brought by a creditor." Discussing whether a nonjudicial repossession pursuant to s. 425.206 (1) (d) is such an action or other proceeding. Duncan v. Asset Recovery Specialists, Inc., 2022 WI 1, 400 Wis. 2d 1, 968 N.W.2d 661, 19-1365.
2023 Wisconsin Statutes & Annotations › Chapter 425 - Consumer transactions — remedies and penalties. › 425.104 - Notice of customer's right to cure default.

425.104
Notice of customer's right to cure default.
(1)
A merchant who believes that a customer is in default may give the customer written notice of the alleged default and, if applicable, of the customer's right to cure any such default (s. 425.105).
(2)
Any notice given under this section shall contain the name, address and telephone number of the creditor, a brief identification of the consumer credit transaction, a statement of the nature of the alleged default and a clear statement of the total payment, including an itemization of any delinquency charges, or other performance necessary to cure the alleged default, the exact date by which the amount must be paid or performance tendered and the name, address and telephone number of the person to whom any payment must be made, if other than the creditor.
History:  1971 c. 239.
Notice need not be given if the obligation is entirely past due and fully owed, making it impossible for the customer to restore the loan to current status. Rosendale State Bank v. Schultz, 123 Wis. 2d 195, 365 N.W.2d 911 (Ct. App. 1985).
The s. 425.105 (1) prohibition of suits except when notice is given pursuant to this section imposes timing and content requirements for the notice. A notice that did not meet the timing requirements of sub. (1) and s. 425.103 (2) (a) never gave notice “pursuant to” this section. Thus, suit was barred by s. 425.105 (1). Indianhead Motors v. Brooks, 2006 WI App 266, 297 Wis. 2d 821, 726 N.W.2d 352, 06-1002.
Courts construe sub. (2) strictly, so even minor defects or omissions are enough to render a notice of right to cure invalid. Bahena v. Jefferson Capital Systems, LLC, 363 F. Supp. 3d 914 (2019).
Billing statements are not sufficient to give notice of a right to cure to an unsophisticated consumer, so they cannot qualify as right-to-cure notices under sub. (2). Bahena v. Jefferson Capital Systems, LLC, 363 F. Supp. 3d 914 (2019).
This section establishes requirements regarding what information a right-to-cure notice must contain, and it is permissive in the sense that it does not obligate merchants to send such notices whenever a customer defaults. But s. 425.105 lays out the requirements for merchants who wish to sue on a default, and s. 425.105 (1) makes providing notice a mandatory prerequisite to suit. Bahena v. Jefferson Capital Systems, LLC, 363 F. Supp. 3d 914 (2019). See also Boerner v. LVNV Funding LLC, 358 F. Supp. 3d 767 (2019).
2023 Wisconsin Statutes & Annotations › Chapter 425 - Consumer transactions — remedies and penalties. › 425.106 - Exempt property.

425.106
Exempt property.
(1)
Except to the extent that the merchant has a valid security interest which is permitted by chs. 421 to 427 and 429 or has a lien under ch. 779 in such property, or where the transaction is for medical or legal services and there has been no finance charge actually imposed, the following property of the customer shall be exempt from levy, execution, sale, and other similar process in satisfaction of a judgment for an obligation arising from a consumer credit transaction:
(a)
Unpaid earnings to the extent provided in s. 812.34.
(b)
Clothing of the customer or his or her dependents, and the following: dining table and chairs, refrigerator, heating stove, cooking stove, radio, beds and bedding, couch and chairs, cooking utensils and kitchenware and household goods as defined in 12 CFR 227.13 (d), 12 CFR 535.1 (g) or 16 CFR 444.1 (i) consisting of furniture, appliances, one television, linens, china, crockery and personal effects including wedding rings, except works of art, electronic entertainment equipment, antiques and jewelry, to the extent a nonpossessory security interest in these household goods is prohibited under 12 CFR 227.13 (d), 12 CFR 535.2 (a) (4) or 16 CFR 444.2 (a) (4);
(c)
Real property used as the principal residence of the customer or the customer's dependents, to the extent that the fair market value of such property, less all amounts secured by mortgages and liens outstanding against it, is $15,000 or less; and
(d)
Earnings or other assets of the customer which are required to be paid by the customer as restitution under s. 973.20.
(2)
With respect to process against marital property in satisfaction of a judgment for an obligation described under s. 766.55 (2) (b) arising from a consumer credit transaction, each spouse is entitled to and may claim the exemptions under sub. (1). Each spouse is entitled to one exemption under sub. (1) (c). That exemption is limited to the specified maximum dollar amount, which may be combined with the other spouse's exemption in the same property or applied to different property included under the same exemption.
(3)
Nothing in this section shall be construed to displace other provisions of law which afford additional or greater protection to the customer.
(4)
An order or process in violation of this section is void.
History:  1971 c. 239; 1973 c. 2, 3; 1979 c. 32 s. 92 (9); 1979 c. 89, 177, 221; 1983 a. 36; 1985 a. 37, 256; 1987 a. 398; 1991 a. 316; 1993 a. 80; 1995 a. 329.
NOTE:  As to sub. (2), see notes in 1985 Wis. Act 37, marital property trailer bill.
2023 Wisconsin Statutes & Annotations › Chapter 425 - Consumer transactions — remedies and penalties. › 425.108 - Extortionate extensions of credit.

425.108
Extortionate extensions of credit.
(1)
If it is the understanding of the creditor and the customer during any time that an extension of credit is outstanding, that delay in making repayment could result in the use of violence to cause harm to the person or property of any person, the extension of credit shall be unenforceable in accordance with s. 425.305 and the customer shall additionally recover triple the penalty provided in s. 425.304 (1).
(2)
If it is shown that an extension of credit was made at an annual rate exceeding that permitted by or referred to in s. 422.201 on maximum charges and that the creditor had a reputation for the use or threat of use of violence to cause harm to the person or property of any person to collect extensions of credit or to punish the nonrepayment thereof, it shall be presumed that the extension of credit was a violation under chs. 421 to 427 under sub. (1).
History:  1971 c. 239; 1979 c. 89.