The transaction of business in this state or the derivation of income that has a situs in this state under the provisions of this chapter by any person while a resident of this state shall be all of the following: 1.
(1)#
Considered an irrevocable appointment by that person, binding upon that person or that person’s personal representative, effective upon that person becoming a nonresident of this state, of the department of financial institutions to be that person’s true and lawful attorney upon whom may be served any notice, order, pleading, or process, including any notice of assessment, denial of application for abatement, or denial of claim for refund, by any administrative agency or in any proceeding by or before an administrative agency, or in any proceeding or action in any court, to enforce or effect full compliance with or involving the provisions of this chapter.
(2)#
A signification of the person’s agreement that any notice, order, pleading, or process described in subd. 1. that is so served is of the same legal force and validity as if served on the person or on the person’s personal representative.