409.301 Law governing perfection and priority of security interests. - Wisconsin Statutes

State Codes and Statutes

Statutes > Wisconsin > 409 > 409.301

409.301

SUBCHAPTER III
PERFECTION AND PRIORITY
409.301 Law governing perfection and priority of security interests. Except as otherwise provided in ss. 409.303 to 409.306, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral:

409.301(1)

(1) Location of debtor. Except as otherwise provided in this section, while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral.

409.301(2)

(2) Location of collateral. While collateral is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a possessory security interest in that collateral.

409.301(3)

(3) Location of property. Except as otherwise provided in sub. (4), while tangible negotiable documents, goods, instruments, money, or tangible chattel paper is located in a jurisdiction, the local law of that jurisdiction governs:

409.301 - ANNOT.

NOTE: Sub. (3) (intro.) is shown as amended eff. 8-1-10 by 2009 Wis. Act 322. Prior to 8-1-10 it reads:

409.301 - ANNOT.

(3) Location of property. Except as otherwise provided in sub. (4), while negotiable documents, goods, instruments, money, or tangible chattel paper is located in a jurisdiction, the local law of that jurisdiction governs:

409.301(3)(a)

(a) Perfection of a security interest in the goods by filing a fixture filing;

409.301(3)(b)

(b) Perfection of a security interest in timber to be cut; and

409.301(3)(c)

(c) The effect of perfection or nonperfection and the priority of a nonpossessory security interest in the collateral.

409.301(4)

(4) Location of wellhead or minehead. The local law of the jurisdiction in which the wellhead or minehead is located governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in as-extracted collateral.

409.301 - ANNOT.

History: 2001 a. 10; 2009 a. 322.

State Codes and Statutes

Statutes > Wisconsin > 409 > 409.301

409.301

SUBCHAPTER III
PERFECTION AND PRIORITY
409.301 Law governing perfection and priority of security interests. Except as otherwise provided in ss. 409.303 to 409.306, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral:

409.301(1)

(1) Location of debtor. Except as otherwise provided in this section, while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral.

409.301(2)

(2) Location of collateral. While collateral is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a possessory security interest in that collateral.

409.301(3)

(3) Location of property. Except as otherwise provided in sub. (4), while tangible negotiable documents, goods, instruments, money, or tangible chattel paper is located in a jurisdiction, the local law of that jurisdiction governs:

409.301 - ANNOT.

NOTE: Sub. (3) (intro.) is shown as amended eff. 8-1-10 by 2009 Wis. Act 322. Prior to 8-1-10 it reads:

409.301 - ANNOT.

(3) Location of property. Except as otherwise provided in sub. (4), while negotiable documents, goods, instruments, money, or tangible chattel paper is located in a jurisdiction, the local law of that jurisdiction governs:

409.301(3)(a)

(a) Perfection of a security interest in the goods by filing a fixture filing;

409.301(3)(b)

(b) Perfection of a security interest in timber to be cut; and

409.301(3)(c)

(c) The effect of perfection or nonperfection and the priority of a nonpossessory security interest in the collateral.

409.301(4)

(4) Location of wellhead or minehead. The local law of the jurisdiction in which the wellhead or minehead is located governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in as-extracted collateral.

409.301 - ANNOT.

History: 2001 a. 10; 2009 a. 322.

State Codes and Statutes

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State Codes and Statutes

Statutes > Wisconsin > 409 > 409.301

409.301

SUBCHAPTER III
PERFECTION AND PRIORITY
409.301 Law governing perfection and priority of security interests. Except as otherwise provided in ss. 409.303 to 409.306, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral:

409.301(1)

(1) Location of debtor. Except as otherwise provided in this section, while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral.

409.301(2)

(2) Location of collateral. While collateral is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a possessory security interest in that collateral.

409.301(3)

(3) Location of property. Except as otherwise provided in sub. (4), while tangible negotiable documents, goods, instruments, money, or tangible chattel paper is located in a jurisdiction, the local law of that jurisdiction governs:

409.301 - ANNOT.

NOTE: Sub. (3) (intro.) is shown as amended eff. 8-1-10 by 2009 Wis. Act 322. Prior to 8-1-10 it reads:

409.301 - ANNOT.

(3) Location of property. Except as otherwise provided in sub. (4), while negotiable documents, goods, instruments, money, or tangible chattel paper is located in a jurisdiction, the local law of that jurisdiction governs:

409.301(3)(a)

(a) Perfection of a security interest in the goods by filing a fixture filing;

409.301(3)(b)

(b) Perfection of a security interest in timber to be cut; and

409.301(3)(c)

(c) The effect of perfection or nonperfection and the priority of a nonpossessory security interest in the collateral.

409.301(4)

(4) Location of wellhead or minehead. The local law of the jurisdiction in which the wellhead or minehead is located governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in as-extracted collateral.

409.301 - ANNOT.

History: 2001 a. 10; 2009 a. 322.