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Wis. Stat. § 409.314

Perfection by control

2001 a. 10; 2009 a. 322.

(1) PERFECTION BY CONTROL. A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic documents may be perfected by control of the collateral under s. 407.106, 409.104, 409.105, 409.106, or 409.107.

(2) SPECIFIED COLLATERAL: TIME OF PERFECTION BY CONTROL; CONTINUATION OF PERFECTION. A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under s. 407.106, 409.104, 409.105, or 409.107 when the secured party obtains UCC - SECURED TRANSACTIONS 409.31617 control and remains perfected by control only while the secured party retains control.

(3) INVESTMENT PROPERTY: TIME OF PERFECTION BY CONTROL; CONTINUATION OF PERFECTION. A security interest in investment property is perfected by control under s. 409.106 from the time the secured party obtains control and remains perfected by control until:

(a) The secured party does not have control; and (b) One of the following occurs: 1. If the collateral is a certificated security, the debtor has or acquires possession of the security certificate; 2. If the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or 3. If the collateral is a security entitlement, the debtor is or becomes the entitlement holder.

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