Wisconsin Statutes (Last Updated: January 10, 2017) |
Chapter 409. Uniform Commercial Code — Secured Transactions |
SubChapter III. PERFECTION AND PRIORITY |
Section 409.333. Priority of certain liens arising by operation of law.
Latest version.
- (1) Possessory lien. In this section, “possessory lien" means an interest, other than a security interest or an agricultural lien:(a) Which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business;(b) Which is created by statute or rule of law in favor of the person; and(c) Whose effectiveness depends on the person's possession of the goods.(2) Priority of possessory lien. A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.
2001 a. 10
.
A lien under s. 779.43 (3) is contingent on possession and is a possessory lien under sub. (1) with priority over a security interest. Premier Community Bank v. Schuh,
2010 WI App 111
,
329 Wis. 2d 146
,
789 N.W.2d 388
,
09-1722
.