Wisconsin § 409.338 Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.

Wisconsin Statutes

§ 409.338 — Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.

Wisconsin § 409.338

Ch. 409Uniform commercial code — secured transactions

Subch.subch. III of ch. 409 SUBCHAPTER III

PERFECTION AND PRIORITY

This text of Wisconsin § 409.338 (Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.) 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. § 409.338 (2026).

Text

338  If a security interest or agricultural lien is perfected by a filed financing statement providing information described in s. 409.516 (2) (e) which is incorrect at the time the financing statement is filed:
338(1) (1) The security interest or agricultural lien is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflicting security interest gives value in reasonable reliance upon the incorrect information; and
338(2) (2) A purchaser, other than a secured party, of the collateral takes free of the security interest or agricultural lien to the extent that, in reasonable reliance upon the incorrect information, the purchaser gives value and, in the case of tangible chattel paper, tangible documents, goods, instrum

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409.338 If a security interest or agricultural lien is perfected by a filed financing statement providing information described in s. 409.516 (2) (e) which is incorrect at the time the financing statement is filed:
409.338(1) (1) The security interest or agricultural lien is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflicting security interest gives value in reasonable reliance upon the incorrect information; and
409.338(2) (2) A purchaser, other than a secured party, of the collateral takes free of the security interest or agricultural lien to the extent that, in reasonable reliance upon the incorrect information, the purchaser gives value and, in the case of tangible chattel paper, tangible documents, goods, instruments, or a security certificate, receives delivery of the collateral.