409.312 Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money; perfection by permissive filing; temporary perfection without filing or transfer of possession.
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/wi/chapter-409/409-312A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
409.312 Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money; perfection by permissive filing; temporary perfection without filing or transfer of possession.
(1)Perfection by filing permitted. A security interest in chattel paper, negotiable documents, instruments, or investment property may be perfected by filing.
(2)Control or possession of certain collateral. Except as otherwise provided in s. 409.315
(3)and
(4)for proceeds:
(a)A security interest in a deposit account may be perfected only by control under s. 409.314 ;
(b)And except as otherwise provided in s. 409.308
(4), a security interest in a letter-of-credit right may be perfected only by control under s. 409.314 ; and
(c)A security interest in money may be perfected only by the secured party’s taking possession under s. 409.313 .
(3)Goods covered by negotiable document. While goods are in the possession of a bailee that has issued a negotiable document covering the goods:
(a)A security interest in the goods may be perfected by perfecting a security interest in the document; and