Wisconsin § 177.0605 - Recovery of property by holder from administrator.

§ 177.0605. Recovery of property by holder from administrator.

177.0605(1) (1) A holder that pays money to the administrator may file a claim for reimbursement from the administrator of the amount paid if any of the following applies: 177.0605(1)(a) (a) The holder paid the money in error. 177.0605(1)(b) (b) After paying the money to the administrator, the holder paid money to a person the holder reasonably believed was entitled to the money. 177.0605(2) (2) If a claim for reimbursement under sub. (1) is made for a payment made on a negotiable instrument, including a traveler’s check, money order, or similar instrument, the holder shall submit proof that the instrument was presented and payment was made to a person the holder reasonably believed was entitled to payment. The holder may claim reimbursement even if the payment was made to a person whose claim was made after expiration of a period of limitation on the owner’s right to receive or recover property, whether specified by contract or court order and notwithstanding any law to the contrary. 177.0605(3) (3) The administrator may only grant and pay a holder’s claim under sub. (1) if the money being claimed is in the administrator’s possession. 177.0605(4) (4) If a holder is reimbursed by the administrator under sub. (1) (b) , the holder may also recover from the administrator income or gain under s.