State Codes and Statutes

Statutes > Wisconsin > 25 > 25.185

25.185

25.185 Minority financial advisers and investment firms; disabled veteran-owned financial advisers and investment firms.

25.185(1)

(1) In this section:

25.185(1)(a)

(a) "Disabled veteran-owned financial adviser" means a financial adviser certified by the department of commerce under s. 560.0335 (3).

25.185 - ANNOT.

NOTE: The cross-reference to s. 560.0335 was changed from s. 560.033 by the legislative reference bureau under s. 13.92 (1) (bm) 2. to reflect the renumbering under s. 13.92 (1) (bm) 2. of s. 560.033, as created by 2009 Wis. Act 299.

25.185(1)(b)

(b) "Disabled veteran-owned investment firm" means an investment firm certified by the department of commerce under s. 560.0335 (3).

25.185 - ANNOT.

NOTE: The cross-reference to s. 560.0335 was changed from s. 560.033 by the legislative reference bureau under s. 13.92 (1) (bm) 2. to reflect the renumbering under s. 13.92 (1) (bm) 2. of s. 560.033, as created by 2009 Wis. Act 299.

25.185(1)(c)

(c) "Minority financial adviser" means a financial adviser certified by the department of commerce under s. 560.036 (2).

25.185(1)(d)

(d) "Minority investment firm" means an investment firm certified by the department of commerce under s. 560.036 (2).

25.185(2)

(2) The board shall attempt to ensure that 5% of the total funds expended for financial and investment analysis and for common stock and convertible bond brokerage commissions in each fiscal year is expended for the services of minority financial advisers or minority investment firms.

25.185(3)

(3) The board shall annually report to the department of administration the total amount of moneys expended under sub. (2) for common stock and convertible bond brokerage commissions, the services of minority and disabled veteran-owned financial advisers, and the services of minority and disabled veteran-owned investment firms during the preceding fiscal year.

25.185 - ANNOT.

NOTE: This section is shown as affected eff. 11-1-10 by 2009 Wis. Act 299. Prior to 11-1-10 it reads:

25.185 - ANNOT.

25.185 Minority financial advisers and investment firms. (1) In this section, "minority financial adviser" and "minority investment firm" mean a financial adviser and investment firm, respectively, certified by the department of commerce under s. 560.036 (2).

25.185 - ANNOT.

(2) The board shall attempt to ensure that 5% of the total funds expended for financial and investment analysis and for common stock and convertible bond brokerage commissions in each fiscal year is expended for the services of minority financial advisers or minority investment firms.

25.185 - ANNOT.

(3) The board shall annually report to the department of administration the total amount of moneys expended under sub. (2) for common stock and convertible bond brokerage commissions, the services of minority financial advisers and the services of minority investment firms during the preceding fiscal year.

25.185 - ANNOT.

History: 1987 a. 27; 1995 a. 27 s. 9116 (5); 1999 a. 83; 2009 a. 299; s. 13.92 (1) (bm) 2.