State Codes and Statutes
Statutes > Wisconsin > 177 > 177.01177.01
177.01 Definitions. In this chapter:177.01(1)
(1) "Administrator" means the state treasurer.177.01(2)
(2) "Apparent owner" means the person whose name appears on the records of the holder as the person entitled to property held, issued or owing by the holder.177.01(3)
(3) "Attorney general" means the chief legal officer of a state.177.01(4)
(4) "Banking organization" means a bank, trust company, industrial bank, land bank, safe deposit company, private banker or any organization defined by other law as a bank or banking organization.177.01(5)
(5) "Business association" means a nonpublic corporation, joint stock company, investment company, business trust, partnership, limited liability company or association for business purposes, whether or not for profit, including a banking organization, financial organization, insurance company or utility.177.01(6)
(6) "Domicile" means the state of incorporation of a corporation, the state of organization of a limited liability company and the state of the principal place of business of an unincorporated person.177.01(7)
(7) "Financial organization" means a savings and loan association, savings bank, cooperative bank, building and loan association or credit union.177.01(8)
(8) "Holder" means a person, wherever organized or domiciled, who is any of the following:177.01(8)(a)
(a) In possession of property belonging to another.177.01(8)(b)
(b) A trustee.177.01(8)(c)
(c) Indebted to another on an obligation.177.01(9)
(9) "Insurance company" means an association, corporation, fraternal or mutual benefit organization, whether or not for profit, which is engaged in providing insurance coverage, including, but not limited to, accident, burial, casualty, credit life, contract performance, dental, fidelity, fire, health, hospitalization, illness, life including endowments and annuities, malpractice, marine, mortgage, surety and wage protection insurance.177.01(10)
(10)177.01(10)(a)
(a) "Intangible property" includes:177.01(10)(a)1.
1. Moneys, checks, drafts, deposits, interest, dividends and income.177.01(10)(a)2.
2. Credit balances, customer overpayments, security deposits, refunds, credit memos, unpaid wages, unused airline tickets and unidentified remittances.177.01(10)(a)3.
3. Stocks and other intangible ownership interests in business associations.177.01(10)(a)4.
4. Moneys deposited to redeem stocks, bonds, coupons and other securities, or to make distributions.177.01(10)(a)5.
5. Amounts due and payable under the terms of insurance policies.177.01(10)(a)6.
6. Amounts distributable from a trust or custodial fund established under a plan to provide any health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance or similar benefits.177.01(10)(b)
(b) "Intangible property" does not include a credit balance issued to a commercial customer account by a business association in the ordinary course of business, unless the credit balance is property described in s. 177.06 (1) or (2) held by a banking organization or financial organization.177.01(11)
(11) "Last-known address" means a description of the location of the apparent owner sufficient for the purpose of the delivery of mail.177.01(12)
(12) "Owner" means a depositor in the case of a deposit, a beneficiary in the case of a trust other than a deposit in trust, a creditor, claimant or payee in the case of other intangible property, or a person having a legal or equitable interest in property subject to this chapter or his or her legal representative.177.01(13)
(13) "Person" means an individual, business association, state or other government, governmental subdivision or agency, public corporation, public authority, estate, trust, 2 or more persons having a joint or common interest, or any other legal or commercial entity.177.01(14)
(14) "State" means any state, district, commonwealth, territory, insular possession and any other area subject to the legislative authority of the United States.177.01(15)
(15) "Utility" means a person who owns or operates for public use any plant, equipment, property, franchise or license for the transmission of communications or the production, storage, transmission, sale, delivery or furnishing of electricity, water, steam or gas.177.01 - ANNOT.
History: 1983 a. 408; 1991 a. 221; 1993 a. 112; 1999 a. 9; 2001 a. 109.177.01 - ANNOT.
Uncashed worker's compensation benefits checks in uncontested cases are "intangible property" subject to reporting and delivery under this chapter. The applicable statute of limitations is discussed. Employers Ins. of Wausau v. Smith, 154 Wis. 2d 199, 453 N.W.2d 856 (1990).