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FIRST NAT. SAVINGS FOUNDATION v. SAMP.

274 Wis. 118 (1956)

FIRST NATIONAL SAVINGS FOUNDATION, INC., and another, Appellants, vs. SAMP, DIRECTOR OF DEPARTMENT OF SECURITIES, Respondent.

Supreme Court of Wisconsin.

December 4, 1956.

Attorney(s) appearing for the Case

For the appellants there was a brief by Rieser, Mathys, McNamara & Stafford of Madison, and McLeod, Donohue & Colwin of Fond du Lac, and oral argument by Clifford G. Mathys and Kenneth M. McLeod.

For the respondent there was a brief by the Attorney General and Roy G. Tulane, assistant attorney general, attorneys, and Werner A. Wilking, special assistant attorney general, of counsel, and oral argument by Mr. Tulane and Mr. Wilking.

WINGERT, J.

1. The first question presented by the appeal is whether the "Guaranty Estate Plan" issued by the plaintiff Foundation and sold to the public is a "security," as defined by sec. 189.02 (1), Wis. Stats., which must be registered pursuant to sec. 189.13. We answer this question in the affirmative, and hold that the circuit court was correct in so declaring.

The Guaranty Estate Plan comprises three principal...

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