409.708 – Persons entitled to file initial financing statement or continuation statement.
409.708 Persons entitled to file initial financing statement or continuation statement. A person may file an initial financing statement or a continuation statement under this subchapter if: (1) The secured party of record authorizes the filing; and (2) The filing is necessary under this subchapter: (a) To continue the effectiveness of a financing statement filed […]
409.709 – Priority.
409.709 Priority. (1) Law governing priority. 2001 Wisconsin Act 10 determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2001, ch. 409, 1999 stats., determines priority. (2) Priority if security interest becomes enforceable under s. 409.203. For purposes of s. 409.322 (1), the […]
409.710 – Special transitional provision for maintaining and searching local filing office records.
409.710 Special transitional provision for maintaining and searching local filing office records. (1) Definitions. In this section: (a) “Former-ch.-409 records”: 1. Means: a. Financing statements and other records that have been filed in a local filing office before July 1, 2001, and that are, or upon processing and indexing will be, reflected in the index […]
409.703 – Security interest perfected before effective date.
409.703 Security interest perfected before effective date. (1) Continuing priority over lien creditor: perfection requirements satisfied. A security interest that is enforceable immediately before July 1, 2001, and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under 2001 Wisconsin Act 10 […]
409.704 – Security interest unperfected before effective date.
409.704 Security interest unperfected before effective date. A security interest that is enforceable immediately before July 1, 2001, but which would be subordinate to the rights of a person that becomes a lien creditor at that time: (1) Remains an enforceable security interest for one year after July 1, 2001; (2) Remains enforceable on and […]
409.705 – Effectiveness of action taken before effective date.
409.705 Effectiveness of action taken before effective date. (1) Preeffective-date action; one-year perfection period unless reperfected. If action, other than the filing of a financing statement, is taken before July 1, 2001, and the action would have resulted in priority of a security interest over the rights of a person that becomes a lien creditor […]
409.706 – When initial financing statement suffices to continue effectiveness of financing statement.
409.706 When initial financing statement suffices to continue effectiveness of financing statement. (1) Initial financing statement in lieu of continuation statement. The filing of an initial financing statement in the office specified in s. 409.501 continues the effectiveness of a financing statement filed before July 1, 2001, if: (a) The filing of an initial financing […]
409.707 – Amendment of preeffective-date financing statement.
409.707 Amendment of preeffective-date financing statement. (1) Preeffective-date financing statement. In this section, “preeffective-date financing statement” means a financing statement filed before July 1, 2001. (2) Applicable law. On or after July 1, 2001, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided […]
409.702 – Savings clause.
409.702 Savings clause. (1) Preeffective-date transactions or liens. Except as otherwise provided in this subchapter, 2001 Wisconsin Act 10 applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before July 1, 2001. (2) Continuing validity. Except as otherwise provided in sub. (3) and ss. […]