Wisconsin § 409.621 Notification of proposal to accept collateral.

Wisconsin Statutes

§ 409.621 — Notification of proposal to accept collateral.

Wisconsin § 409.621

Ch. 409Uniform commercial code — secured transactions

Subch.subch. VI of ch. 409 SUBCHAPTER VI

DEFAULT

This text of Wisconsin § 409.621 (Notification of proposal to accept collateral.) 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. § 409.621 (2026).

Text

409.621 409.621(1) (1) Persons to which proposal to be sent. A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to: 409.621(1)(a) (a) Any person from which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral; 409.621(1)(b) (b) Any other secured party or lienholder that, 10 days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that: 409.621(1)(b)1.

1.Identified the collateral; 409.621(1)(b)2.

2.Was indexed under the debtor’s name as of that date; and 409.621(1)(b)3.

3.Was filed in the office or office

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409.621
409.621(1) (1) Persons to which proposal to be sent. A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to:
409.621(1)(a) (a) Any person from which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral;
409.621(1)(b) (b) Any other secured party or lienholder that, 10 days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:
409.621(1)(b)1. 1. Identified the collateral;
409.621(1)(b)2. 2. Was indexed under the debtor’s name as of that date; and
409.621(1)(b)3. 3. Was filed in the office or offices in which to file a financing statement against the debtor covering the collateral as of that date; and
409.621(1)(c) (c) Any other secured party that, 10 days before the debtor consented to the acceptance, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in s. 409.311 (1) .
409.621(2) (2) Proposal to be sent to secondary obligor in partial satisfaction. A secured party that desires to accept collateral in partial satisfaction of the obligation it secures shall send its proposal to any secondary obligor in addition to the persons described in sub. (1) .