(1g) (b)

224.35 (1g) (b) .

217.02(21)

(21)

 

217.02(21)(a)

(a)

“Outstanding money transmission obligations” includes all of the following:

217.02(21)(a)1.

1.

Any payment instrument or stored value issued or sold by a licensee to a person located in the United States or reported as sold by an authorized delegate of the licensee to a person that is located in the United States that has not yet been paid or refunded by or for the licensee, or reported and delivered to the secretary of revenue as provided under ch. 177 .

217.02(21)(a)2.

2.

Any money received for transmission by a licensee or an authorized delegate in the United States from a person located in the United States that has not been received by the payee or refunded to the sender, or escheated in accordance with applicable abandoned property laws.

217.02(21)(b)

(b)

For purposes of this subsection, “in the United States” includes any state, territory, or possession of the United States, any U.S. military installation that is located in a foreign country, the District of Columbia, and the Commonwealth of Puerto Rico.

217.02(22)

(22)

 

217.02(22)(a)

(a)

“Passive investor” means a person who meets all of the following criteria:

217.02(22)(a)1.

1.

The person does not have the power to elect a majority of key individuals or executive officers, managers, directors, trustees, or other persons exercising managerial authority of a person in control of a licensee.

217.02(22)(a)2.

2.

The person is not employed by, and does not have any managerial duties of, a licensee or a person in control of a licensee.

217.02(22)(a)3.

3.

The person does not have the power to exercise, either directly or indirectly, a controlling influence over the management or policies of a licensee or person in control of a licensee.

217.02(22)(b)

(b)

A passive investor may demonstrate satisfaction of the criteria of par. (a) by completing an attestation or other document, in a form and manner prescribed by the division, confirming that each of those criteria is met.

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2023-24 Wisconsin Statutes updated

through 2025 Wis. Act 103 and through all Supreme Court Orders and Controlled Substances Board Orders filed before and in effect on April 3, 2026.

Published and certified under s. 35.18. Changes effective after April 3, 2026, are designated by NOTES.

(Published 4-3-26)