§ 409.506 — Effect of errors or omissions.

Wisconsin § 409.506

• Jurisdiction: Wisconsin
• Ch. 409: Uniform commercial code — secured transactions
• Subch.: subch. V of ch. 409 SUBCHAPTER V

Text

409.506
409.506(1) (1) Minor errors and omissions. A financing statement substantially satisfying the requirements of this subchapter is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading.
409.506(2) (2) Financing statement seriously misleading. Except as otherwise provided in sub. (3) , a financing statement that fails sufficiently to provide the name of the debtor in accordance with s. 409.503 (1) is seriously misleading.
409.506(3) (3) Financing statement not seriously misleading. If a search of the records of the filing office under the debtor’s correct name, using the filing office’s standard search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in accordance with s. 409.503 (1) , the name provided does not make the financing statement seriously misleading.
409.506(4) (4) Debtor’s correct name. For purposes of s. 409.508 (2) , the “debtor’s correct name” in sub. (3) means the correct name of the new debtor.
[Note: 409.506 Note NOTE: The above annotations cite to the pre- 2001 Wis. Act 10 version of this chapter.]

Legislative History

409.506 History History: 2001 a. 10 .