Terms Used In Wisconsin Statutes 409.310

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Property: includes real and personal property. See Wisconsin Statutes 990.01
  • Statute: A law passed by a legislature.
   (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.