Wisconsin § 409.209 Duties of secured party if account debtor has been notified of assignment.

Wisconsin Statutes

§ 409.209 — Duties of secured party if account debtor has been notified of assignment.

Wisconsin § 409.209

Ch. 409Uniform commercial code — secured transactions

Subch.subch. II of ch. 409 SUBCHAPTER II

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

This text of Wisconsin § 409.209 (Duties of secured party if account debtor has been notified of assignment.) is published on Counsel Stack Legal Research, covering Wisconsin primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wis. Stat. § 409.209 (2026).

Text

409.209 409.209(1) (1) Applicability of section. Except as otherwise provided in sub.

(3), this section applies if: 409.209(1)(a) (a) There is no outstanding secured obligation; and 409.209(1)(b) (b) The secured party is not committed to make advances, incur obligations, or otherwise give value. 409.209(2) (2) Duties of secured party after receiving demand from debtor. Within 10 days after receiving an authenticated demand by the debtor, a secured party shall send to an account debtor that has received notification of an assignment to the secured party as assignee under s. 409.406 (1) an authenticated record that releases the account debtor from any further obligation to the secured party. 409.209(3) (3) Inapplicability to sales. This section does not apply to an assignment constituting t

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409.209
409.209(1) (1) Applicability of section. Except as otherwise provided in sub. (3) , this section applies if:
409.209(1)(a) (a) There is no outstanding secured obligation; and
409.209(1)(b) (b) The secured party is not committed to make advances, incur obligations, or otherwise give value.
409.209(2) (2) Duties of secured party after receiving demand from debtor. Within 10 days after receiving an authenticated demand by the debtor, a secured party shall send to an account debtor that has received notification of an assignment to the secured party as assignee under s. 409.406 (1) an authenticated record that releases the account debtor from any further obligation to the secured party.
409.209(3) (3) Inapplicability to sales. This section does not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible.