1. (1) Fees paid to secured parties by consumers. A secured party may charge the vehicle owner the security interest filing and release fee under s. 342.14 (2), Stats. A secured party may charge the vehicle owner a fee to cover transaction processing fees the secured party is required to pay to the department to the extent allowed in this section.

2. (2) Fees paid by secured parties to the department.

   1. (a) Any secured party who is not required to file security interest statements electronically under s. Trans 148.06 (1) (a) shall pay the department a fee of $5.00 for each security interest statement filing transaction that the department processes on behalf of the secured party. If an exempt secured party who is not required to file security interest statements electronically under s. Trans 148.06 (1) (a) submits to DMV an application to be processed by DMV through a customer service center, the secured party shall pay the department the $5.00 fee per filing transaction, in addition to the counter service fee and any other required fees. The secured party may charge the vehicle owner a fee to cover the fee that the secured party is required to pay the department.

   2. (b) Any secured party who is not authorized to file security interest statements electronically under s. Trans 148.06 (1) (b) shall pay the department a fee for each security interest statement filing transaction that the department processes on behalf of the secured party. The fee consists of all of the following:

      1. 1. A fee of $5.00 per transaction to process the transaction. The secured party may charge the vehicle owner a fee not to exceed $5.00.
      2. 2. A surcharge of $20.00 per transaction. The secured party may not charge this surcharge to the vehicle owner.

   3. (c) Any secured party who is required to but fails to file security interest statements electronically as required under s. Trans 148.03 shall pay the department a fee for each security interest statement filing transaction that the department processes on behalf of the secured party. The fee consists of the following:

      1. 1. A fee of $5.00 per transaction to process the transaction. The secured party may charge the vehicle owner a fee not to exceed $5.00.
      2. 2. A surcharge of $20.00 per transaction. The secured party may not charge this surcharge to the vehicle owner.
   4. (d) In addition to the fee and the surcharge that a secured party must pay to DMV under par. (b) or (c), the department may notify the department of financial institutions to consider disciplinary actions against the secured party. If a secured party described in par. (b) or (c) submits to DMV an application to be processed by DMV through a customer service center, the secured party shall pay the department the $5.00 transaction fee and the $20.00 surcharge, in addition to the counter service fee and any other required fees.

History

History: CR 09-113: cr. Register May 2010 No. 653, eff. 6-1-10.