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Milwaukee County was formed in 1835 when it was part of the Michigan Territory. Prior to that, the area had been settled by a variety of Native American tribes, and was explored by French Priests and traders as far back as 1674. The name “Milwaukee” is generally believed to be derived from a Native American term meaning “good land.” Today Milwaukee County is, by population, the largest county in the State of Wisconsin and the 47th largest in the United States with 951,448 residents. Located on the shores of Lake Michigan and covering 241 square miles, Milwaukee County is a mixture of metropolitan, suburban, and rural living. Milwaukee County is one of the few fully-incorporated counties in the United States and includes 19 municipalities that range from a large urban center in the City of Milwaukee with 595,047 residents to small villages such as River Hills with a population of 1,597. Milwaukee County is governed by a county executive as the county`s chief executive officer, with legislative power exercised by the county board of supervisors, generally through the enactment of ordinances and the adoption of resolutions. Other county elected officials are required by either the state constitution or state statute and include the sheriff, district attorney, clerk, treasurer, register of deeds, judges, and a clerk of circuit court. As a unit of local government, Milwaukee County collects property taxes, constructs and maintains county highways, engages in land use planning, and maintains parks and recreational facilities. In Wisconsin, counties are also considered an administrative arm of the state because they are required to carry out or enforce certain state laws. For example, counties are required to maintain judicial court records, manage state elections, keep vital statistics and property records (birth and death certificates, marriage licenses, and property deeds), and enforce and prosecute state criminal laws. Milwaukee County is also required to carry out various state programs, such as health and human services programs. Milwaukee County is a Midwestern hub for business, travel, industry, recreation, and culture. A strong sense of community makes Milwaukee County a great place to live, work, and raise a family.
Act 254 of 1959 placed responsibility for the "sale of securities" under the jurisdiction of the State Bank Department, and provided for a State Securities Commissioner. The Securities Commissioner was to be appointed by the Governor and subject to the supervision of the State Bank Commissioner, and operated as a division of the State Bank Department. Act 38 of 1971 transferred both the State Bank Department and the State Securities Department to the Department of Commerce. Each division continued to function independently of the Commerce Department with regard to the prescribed statutory powers, authorities, duties, and rulemaking responsibilities they had prior to the transfer. Act 471 of 1973 amended Act 254 of 1959 to provide that the Securities Division was no longer a part of the State Bank Department and the Securities Commissioner was no longer subject to the supervision of the State Bank Commissioner. The Act further provided that the Securities Division be renamed the Arkansas Securities Department and that all Acts previously regulated by the Securities Division be transferred to the new agency effective July 1, 1973. In early 1975, it became apparent that the special revenue fund balances transferred to the Department by the Bank Department pursuant to Act 471 of 1973 would not be sufficient to continue operation of the Department at its current level. Act 863 of 1975 amended all Acts administered by the Department to reclassify all revenues received by the Department as general revenues. Thus, effective July 1, 1975, the Department ceased being a special revenue agency and became a general revenue agency with all expenditures paid from the general revenues of the State. Act 691 of 1983 abolished the Department of Commerce. Section 3 of the Act directed that the State Securities Department shall function as an independent agency. The Securities Commissioner is appointed by the Governor and serves at the pleasure of the Governor. Act 659 of 1993 created on the books of the Chief Fiscal Officer of the State and those of the State Treasurer a fund to be known as the "Securities Department Fund." Such fund is to be used for the maintenance, operation, support and improvement of the State Securities Department. Portions of the filing fees collected under the Securities Act are designated as special revenue and deposited into the Securities Department Fund. Currently, the maximum amount of fees deposited into such fund is limited to $2.5 million in each fiscal year. The remainder of the filing fees are deposited into General Revenues. Act 759 of 2003 created the Investor Education Fund. The Investor Education Program is funded from administrative fines assessed under the Securities Act. Fines received in excess of $150,000 are deposited into General Revenues. Pursuant to the Cemetery Act for Perpetually Maintained Cemeteries, as amended, the Securities Commissioner served as a voting member and Secretary of the Cemetery Board. Effective July 1, 2018, the Cemetery Board was merged into a newly created board with the Board of Funeral Directors and Embalmers and the Burial Board. The new board in under the Insurance Department. Pursuant to the Savings and Loan Association Act, Act 227 of 1963, as amended, the Securities Commissioner acts as the Supervisor of savings and loan associations. In 1997, the Savings and Loan Association Act was amended to do away with the Savings and Loan Association Board and transferred the Savings and Loan Associtions Board`s power and authority to the Securities Commissioner.
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