Wis. Stat. » CHAPTER 409 — UNIFORM COMMERCIAL CODE — SECURED TRANSACTIONS
Wisconsin Statutes

Wis. Stat. § 409.104 (2026)

Control of deposit account

✓ current as of July 2026
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409.104409.104 Control of deposit account.
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409.104(1)(1) Requirements for control. A secured party has control of a deposit account if:
409.104(1)(a)(a) The secured party is the bank with which the deposit account is maintained;
409.104(1)(b)(b) The debtor, secured party, and bank have agreed in an authenticated record that the bank will comply with instructions originated by the secured party directing disposition of the funds in the deposit account without further consent by the debtor; or
409.104(1)(c)(c) The secured party becomes the bank’s customer with respect to the deposit account.
409.104(2)(2) Debtor’s right to direct disposition. A secured party that has satisfied sub. (1) has control, even if the debtor retains the right to direct the disposition of funds from the deposit account.
409.104 HistoryHistory: 2001 a. 10.
Notes of Decisions
Cited in 13 cases, 1976–1998 · leading case: Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Van Kylen (In Re Van Kylen), 98 B.R. 455 (Bankr. W.D. Wis. 1989).
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Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Van Kylen (In Re Van Kylen), 98 B.R. 455 (Bankr. W.D. Wis. 1989). · cites it 3× “The parties point to section 409.104(13) as the only basis upon which the transaction may be excluded from Article Nine’s coverage.”
Swanson v. Union State Bank (In Re Hoeppner), 49 B.R. 124 (Bankr. E.D. Wis. 1985). · cites it 3× “STATUTORY CONSTRUCTION This Court declines to place a restrictive construction upon § 409.104(10) which would exclude only the land contract, but not its subsequent assignment, from Chapter 409.”
P.A. Bergner & Co. v. Bank One, Milwaukee, N.A. (In re P.A. Bergner & Co.), 140 F.3d 1111 (7th Cir. 1998). “It argues that when it “memo posted” Bergner’s account at 1:24 p.m. on July 19, it effectively froze the account and took control of the funds, which perfected its security interest.”
Demitropoulos v. Bank One Milwaukee, N.A., 953 F. Supp. 974 (N.D. Ill. 1997). · cites it 2× “Wis. Stat. § 409.104 (10)). The landlord-tenant cases 11 that the AFSA relies on for the “common-law rule” that security deposits do not create Article 9 security interests are therefore inapposite — real property lease deposits are encompassed by § 9-104(j)’s exclusion, while…”
In Re Thompson, 82 B.R. 985 (Bankr. W.D. Wis. 1988). · cites it 2× “Wis.Stat. § 409.104(1). Hence, security interests created under Wisconsin law are subject to avoidance should § 522(f) of the Bankruptcy Code be applied.”
Belke v. M & I First Nat'l Bank of Stevens Point, 525 N.W.2d 737 (Wis. Ct. App. 1994). · cites it 2× “instruments_ Section 409.104, STATS., contains no applicable exclusion.”
In Re PA Bergner & Co. Holding Co., 187 B.R. 964 (Bankr. E.D. Wis. 1995). · cites it 2× “As deposit accounts are not governed by the Uniform Commercial Code, Wis.Stat. § 409.104(13), perfection must be accomplished under the common law, i.”
Portage Cnty. Bank v. Deist, 464 N.W.2d 856 (Wis. Ct. App. 1990). · cites it 2× “Section 409.104(10), Stats. We therefore confine the balance of our discussion to the personal property sales.”
Armstrong v. Isbell (In Re Isbell), 27 B.R. 926 (Bankr. W.D. Wis. 1983). “However, Wis.Stat. 409.104(10) [9-104(j)] provides: This chapter does not apply: .”
Matter of Zimmerman, 69 B.R. 436 (Bankr. E.D. Wis. 1987). “§ 542 (a) requires an entity, such as Bache, to deliver and account for property that the trustee may use, sell or lease under § 363 of the Bankruptcy Code. Because the Irving Trust Company check in question became property of the estate under § 541 of the Code and because the…”
Adashek v. Szatkowski (In Re Szatkowski), 51 B.R. 104 (Bankr. E.D. Wis. 1985). “§ 409.104(10) and Wis.Stats. § 409.102(3) in the context of a land contract vendor’s interest, 2 Judge Shapiro said, “Too much emphasis has been placed upon the fact that a land contract vendor’s interest is personal property.”
York v. Ottusch, 412 F. Supp. 819 (W.D. Wis. 1976). “Gottlieb cannot avoid the Uniform Commercial Code requirements by arguing, under § 409.104(6), Wis.Stats., that this is an “assignment * * * for the purpose of collection only.”
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— Wis. Stat. § 409.104(1) — 1 case
In Re Thompson, 82 B.R. 985 (Bankr. W.D. Wis. 1988). “Wis.Stat. § 409.104(1). Hence, security interests created under Wisconsin law are subject to avoidance should § 522(f) of the Bankruptcy Code be applied.”
— Wis. Stat. § 409.104(10) — 4 cases
Swanson v. Union State Bank (In Re Hoeppner), 49 B.R. 124 (Bankr. E.D. Wis. 1985). “STATUTORY CONSTRUCTION This Court declines to place a restrictive construction upon § 409.104(10) which would exclude only the land contract, but not its subsequent assignment, from Chapter 409.”
Portage Cnty. Bank v. Deist, 464 N.W.2d 856 (Wis. Ct. App. 1990). “Section 409.104(10), Stats. We therefore confine the balance of our discussion to the personal property sales.”
Armstrong v. Isbell (In Re Isbell), 27 B.R. 926 (Bankr. W.D. Wis. 1983). “However, Wis.Stat. 409.104(10) [9-104(j)] provides: This chapter does not apply: .”
Adashek v. Szatkowski (In Re Szatkowski), 51 B.R. 104 (Bankr. E.D. Wis. 1985). “§ 409.104(10) and Wis.Stats. § 409.102(3) in the context of a land contract vendor’s interest, 2 Judge Shapiro said, “Too much emphasis has been placed upon the fact that a land contract vendor’s interest is personal property.”
— Wis. Stat. § 409.104(13) — 4 cases
Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Van Kylen (In Re Van Kylen), 98 B.R. 455 (Bankr. W.D. Wis. 1989). “The parties point to section 409.104(13) as the only basis upon which the transaction may be excluded from Article Nine’s coverage.”
In Re PA Bergner & Co. Holding Co., 187 B.R. 964 (Bankr. E.D. Wis. 1995). “As deposit accounts are not governed by the Uniform Commercial Code, Wis.Stat. § 409.104(13), perfection must be accomplished under the common law, i.”
Matter of Zimmerman, 69 B.R. 436 (Bankr. E.D. Wis. 1987). “§ 542 (a) requires an entity, such as Bache, to deliver and account for property that the trustee may use, sell or lease under § 363 of the Bankruptcy Code. Because the Irving Trust Company check in question became property of the estate under § 541 of the Code and because the…”
Bergner v. Bank One, Milwaukee, N.A. (In re Bergner), 187 B.R. 964 (Bankr. E.D. Wis. 1995).
— Wis. Stat. § 409.104(6) — 1 case
York v. Ottusch, 412 F. Supp. 819 (W.D. Wis. 1976). “Gottlieb cannot avoid the Uniform Commercial Code requirements by arguing, under § 409.104(6), Wis.Stats., that this is an “assignment * * * for the purpose of collection only.”
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