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COMMERCIAL DISCOUNT CORP. v. LARSON

Nos. 228, 229.

46 Wis.2d 718 (1970)

176 N.W.2d 347

COMMERCIAL DISCOUNT CORPORATION, Respondent, v. LARSON, Appellant. COMMERCIAL DISCOUNT CORPORATION, Respondent, v. LARSON, Appellant. COMMERCIAL DISCOUNT CORPORATION, Respondent, v. COUNTRY HOTEL, INC., and others, Appellants: FIRST NATIONAL BANK OF WAUKESHA, Defendant.

Supreme Court of Wisconsin.

Decided April 28, 1970.

Attorney(s) appearing for the Case

For the appellants there were briefs by Charne, Glassner, Tehan, Clancy & Taitelman, and oral argument by Ronald S. Jacobs, all of Milwaukee.

For the respondent there was a brief by Foley & Lardner and David E. Beckwith and James O. Huber, all of Milwaukee, and oral argument by Mr. Huber.

HANLEY, J.

The sole issue presented on this appeal is whether a party engaged in the business of making collateral or secured loans must obtain the permit required by sec. 138.07 (4), Stats.

The trial court found that this section does not require all parties engaged in the collateral loan business to obtain a permit, but merely requires a permit of those secured lenders who choose to charge the four percent service fee allowed by sec. 138.07 (3) (a), Stats...

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