Wisconsin Statutes (Last Updated: January 10, 2017) |
Chapter 409. Uniform Commercial Code — Secured Transactions |
SubChapter III. PERFECTION AND PRIORITY |
Section 409.331. Priority of rights of purchasers of instruments, documents, and securities under other chapters; priority of interests in financial assets and security entitlements under ch. 408.
Latest version.
- (1) Rights under chs. 403 , 407 , and 408 not limited. This chapter does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated, or a protected purchaser of a security. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in chs. 403 , 407 , and 408 .(2) Protection under ch. 408 . This chapter does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of an adverse claim under ch. 408 .