Public-domain · open source
OpenJurist

Wis. Stat. § 409.310

When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply

Applied in 5 court decisions — leading case Attorney's Title Guaranty Fund, Inc. v. Town Bank (2014)

Most recently applied in Lanser v. First Bank Financial Centre (In re Vorobil) (March 2017)

2001 a. 10; 2009 a. 322.

How often courts cite this section

20082010201710
citing decisions per year

Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.

(1) GENERAL RULE: PERFECTION BY FILING. Except as otherwise provided in sub.

(2) and s. 409.312 (2), a financing statement must be filed to perfect all security interests and agricultural liens.

(2) EXCEPTIONS: FILING NOT NECESSARY. The filing of a financing statement is not necessary to perfect a security interest:

(a) That is perfected under s. 409.308 (4), (5), (6), or (7);

(b) That is perfected under s. 409.309 when it attaches;

(c) In property subject to a statute, regulation, or treaty described in s. 409.311 (1);

(d) In goods in possession of a bailee which is perfected under s. 409.312 (4)

(a) or (b);

(e) In certificated securities, documents, goods, or instruments which is perfected without filing, control, or possession under s. 409.312 (5), (6), or (7);

(f) In collateral in the secured party’s possession under s. 409.313;

(g) In a certificated security which is perfected by delivery of the security certificate to the secured party under s. 409.313;

(h) In deposit accounts, electronic chattel paper, electronic documents, investment property, or letter-of-credit rights which is perfected by control under s. 409.314;

(i) In proceeds which is perfected under s. 409.315; or (j) That is perfected under s. 409.316.

(3) ASSIGNMENT OF PERFECTED SECURITY INTEREST. If a secured party assigns a perfected security interest or agricultural lien, a filing under this chapter is not required to continue the perfected status of the security interest against creditors of and transferees from the original debtor.

Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.