409.110 Security interests arising under ch. 402 or 411.

117 words·~1 min read·/wi/chapter-409/409-110-7

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

409.110 Security interests arising under ch. 402 or 411. A security interest arising under s. 402.401 , 402.505 , 402.711

(3), or 411.508

(5)is subject to this chapter. However, until the debtor obtains possession of the goods:

(1)The security interest is enforceable, even if s. 409.203

(c)has not been satisfied;

(2)Filing is not required to perfect the security interest;

(3)The rights of the secured party after default by the debtor are governed by ch. 402 or 411 ; and

(4)The security interest has priority over a conflicting security interest created by the debtor.

SUBCHAPTER II

EFFECTIVENESS OF SECURITY AGREEMENT; ATTACHMENT OF SECURITY INTEREST; RIGHTS OF PARTIES TO SECURITY AGREEMENT