Section 409.110. Security interests arising under ch. 402 or 411

Latest version.

. 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 (2) (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.

2001 a. 10 .

                    
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